Domestic airlines post core business loss in April
Source: China News
Shanghai :: China | updated 2013-05-21 06:35:21 -0700 | business-news
Domestic carriers booked 1.4 billion yuan ($228 million) profit in April, a decline of 30 percent year-on-year, and their core businesses continue to run deficits, chinanews.com reported on May 16, citing unnamed sources from the Civil Aviation Administration of China....
H1 reports show various fortunes
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 05:17:59 -0700 | business-news
The findings were published by Wind, a Shanghai-based financial information provider. Another 98 listed companies said they forecast a year-on-year decrease in net profit. Most of the companies reporting a fall in profit were in chemicals, machinery, and equipment manufacturing....
Approval signals takeoff for new airlines
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 02:49:30 -0700 | business-news
The Civil Aviation Administration of China approved an application on May 17 for Qingdao Airlines Co Ltd, which will have 1 billion yuan ($163.1 million) in registered capital. Three companies in Shandong province will invest in the new airline and...
China's growth upsets Australian treasury forecasts
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 08:42:57 -0700 | business-news
China's surprising growth in recent years has contributed to throwing Australian treasury economic and revenue forecasts out of whack, Secretary to the Treasury Martin Parkinson told economists at a budget briefing in Sydney Tuesday. The briefing was called to explain...
EXIM bank to finance Greek ship owners
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 02:49:26 -0700 | business-news
The bank signed agreements with three Greek shipping companies, Diana Shipping, Angelicoussis and Dynagas, to provide them with loans to order "high-end vessels" in Chinese yards, according to an emailed statement from the bank. The bank plans to enhance coo...
Xinjiang hits golden jackpot
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 04:02:15 -0700 | business-news
The mine is expected to go into production before 2015, producing 3 metric tons of gold and 5,000 tons of copper every year, said Chen Nong, president of the Hainan Meisheng Group, adding the annual output value may pass 1...
UBS downgrades GDP growth
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 01:22:15 -0700 | business-news
Economic indicators have been relatively weak in 2013, according to the report. These include lower rates of consumption, slower wage growth in recent quarters, the government's frugality campaign, a drop in export demand and most importantly, strong credit expansion has...
$554b in bank loans 'to mature over next 3 years'
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 01:22:13 -0700 | business-news
Outstanding loans at local government financing vehicles stood at 9.3 trillion yuan at the end of 2012, Shang said. He said as local government leadership changed this year, it is likely that investment pressures will increase.
Qihoo 360 sees Q1 profit fall 60%
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 01:22:13 -0700 | business-news
The rising cost of advertisements and expenses were the main factors behind the drop, the report said. Revenue rose 58.6 percent to $110 million from $69.3 million a year ago, mainly due to continued momentum in both online advertising and...
Bank of Communications appoints chairman
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 01:22:11 -0700 | business-news
Shanghai ( chinadaily.com.cn) Bank of Communications appointed 56-year-old Niu Ximing as its new board chairman. In a statement on Monday, the bank said that Niu replaces Hu Huaibang who resigned on April 15. The appointment is subject to the China...
Cosco to sell CIMC stake
Source: Chinadaily
Shanghai :: China | updated 2013-05-21 01:22:10 -0700 | business-news
Monday that it would sell its entire 21.8 percent stake in China International Marine Containers (Group) Co to its parent group for $1.22 billion in cash. The sale was to boost cash flow for the company to allow it to...
Grade-A office rent in Beijing unchanged
Source: Chinadaily
Shanghai :: China | updated 2013-05-20 23:23:11 -0700 | business-news
The average monthly rent for Beijing's grade-A offices remained unchanged at 396 yuan ($63.9) per sq meter in the first quarter. The market vacancy rate increased by 1 percentage point to 4.8 percent. The small amount of new supply means...
Central China Expo inks deals worth 447b yuan
Source: Chinadaily
Shanghai :: China | updated 2013-05-20 20:34:00 -0700 | business-news
Investment mainly eyes emerging se cto rs including new energy and electronic information technology, as well as railway construction , the modern logistics industry and the cultural tourism industry. CSR Corp Ltd, China's largest train producer, is set to pour...
Iron fist on listed firms heartens investors
Source: Chinadaily
Shanghai :: China | updated 2013-05-20 20:33:53 -0700 | business-news
The China Securities Regulatory Commission on Friday reported the ongoing investigations of eight listed firms for misconduct that violated regulations on information disclosure...The statement said the commission will strictly crack down on those violations to protect the legitimate interests...
France's Danone launches joint projects with Mengniu
Source: Chinadaily
Shanghai :: China | updated 2013-05-20 19:14:19 -0700 | business-news
Danone will invest about 325 million euros ($417.17 million) in the projects. Through the deals, Mengniu will likely achieve breakthroughs in the high-end yogurt se cto r, which will allow it to rival domestic compet ito rs, said Jian Aihua,...
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