Sina Snaps Up Focus Media
China's biggest portal operator Sina.com is set to acquire big chunks of Focus Media, a domestic commercial building and outdoor advertising company. The joining of China's biggest .com and biggest commercial building advertising company will form a giant advertising combination
Chrysler's Star Dims in China
Murtaugh's departure is followed by the steady shrinking and adjustment of Chrysler's business in China. While maintaining part of its administration and market communications business in its Beijing office, Chrysler plans to largely downsize other departments including sales and marketing. Meanwhile, the company's recruitment plan for proposed engineering and R&D departments in China has been halte
Huawei Eyes Nortel's Ethernet
With its failure earlier this year to co-acquire 3COM Corporation with Bain & Company, Huawei's plan to enter North America by way of acquisition was thwarted, but now the company, the largest networking and telecommunications equipment supplier in China, is trying again through acquisition of Nortel's Metro Ethernet Network (MEN)
Baidu Looking to Launch New Platform
Robin Li (Li Yanhong), president of Baidu, the Chinese Internet search engine, has announced that he was seeking the best talents to lead Baidu, and that once he could find better CEO candidate, he would quit at any time. In the mean time, Baidu has released the plan for the research and development of a new search engine platform, Aladdin, and has founded an R&D center in Shanghai.
Siemens' Unprecedented Corruption Case Involved C
Siemens' three subsidiaries in China were involved in the company's unprecedented corruption case. The company was pledged guilty in both Munich and Washington, DC on December 15 and will pay total fines and penalties of approximately EUR 1 billion for bribing government officials to get contracts around the globe from 1990s to 200
COSCO Drops RMB 4billion on Freight Derivatives Speculation
The Baltic Dry Index, a measure of the demand for shipping capacity versus the supply of dry bulk carriers, has plummeted in the recent months, and the China Ocean Shipping (Group) Company (COSCO), the world's biggest dry bulk transportation company, has suffered huge losses due both to the drastic decline of freight carrying and from a Forward Freight Agreement (FFA), a hedge transaction.
3G Launch Timely for the Industry, and China's Economy
200 billion, as in yuan for investment, is not a particularly big number for the 3G industry these days. Consumers' purchases of new 3G cell phones alone may bring the industry more than 50 billion yuan. This together with the value of mobile Internet business will add up to a vast number. 3G is finally coming. And considering the present financial pandemonium, it and its projected cash outlays are not coming any time too soon.
China Southern Boss Shifted to China Eastern to bring Order to Chaos
The senior managements of two Chinese airlines were readjusted on December 12. Liu Shaoyong, chairman of China Southern Airlines was transferred to China Eastern Airlines to take over as top manager to attempt a rescue. Eastern is notorious for its disordered management and huge operations losses.
China Eastern and China Southern Injected RMB 3 Bi
As one of the government's policies to bailout the aviation industry, China Eastern Airlines (China Eastern) and China Southern Airlines (China Southern) will get capital injection from their state-owned parent companies by issuing A-shares and H-shares.
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