New Zealand Director’s Slight Mistake Led to Arms Trafficking
Submitted by Manish Verma on Fri, 09/03/2010 - 08:58
Yesterday, Lu Zhang, the 28-year old Chinese immigrant and Director of the New Zealand Company, which was held responsible for 75 cases of arms dealing in North Korea, appeared in court saying that she might have made one single mistake. She pleaded guilty for 20 of the 75 charges pressed against her.
Yingli Green reports profit in second quarter
Submitted by Omaka Nelson on Wed, 08/25/2010 - 17:37
Yingli Green Energy Holding Co. has announced its second quarter financial results for the fiscal year 2010-11.
Yingli Green Energy Holding Co. is the leading solar cell maker of China. The company has informed that it has posted a significant amount of net profit in the second quarter of the ongoing financial year.
Three big banks plan to invest in yuan-backed bonds
Submitted by Girish Kumar Guha on Tue, 08/24/2010 - 18:21
Three big banks- Citigroup Inc, HSBC Holdings Plc and CIMB Group Holdings Bhd, have announced that they will be investing in yuan bonds. This decision comes after China decided to open up its inter bank debt market.
The Shanghai-based CEO of Citigroup, Andrew Au said that the Chinese unit of the US bank is now in the process of making papers that are required to invest in the market from outside.
Slower economy hit the Chinese auto market
Submitted by Sudarshan Tandon on Mon, 08/23/2010 - 16:48
It has been informed that the China's automobile market has been deeply affected by the global economic slow down. China is known to be one of the leading markets of automobile and components in the world.
The domestic automobile industry was equally good as its international performance. But after the recession and financial crisis the industry has lost its pace and the sales growth has been affected badly.
BYD second quarter net profit up by 2.6%
Submitted by Sudarshan Tandon on Mon, 08/23/2010 - 16:41
BYD Co Ltd has announced its second quarter financial results for the fiscal year 2010-11 today. In a statement it has informed that there has been a marginal hike in the net profit in the quarter under review against its like period a year ago. BYD Co Ltd is the leading Chinese carmaker which is backed by U. S. billionaire Warren Buffett. Buffett's Berkshire Hathaway holds 10% of state in this firm.
Eight Republican senators seek scrutiny of Chinese telecom bid
Submitted by Surjit Singh on Mon, 08/23/2010 - 06:40
In their August 18-dated letter to the Obama administration, eight Republican senators have sought the scrutiny of a bid by one of China’s largest telecom manufacturers, Huawei Inc., for the supply of telecommunications equipment to Sprint Nextel in the US.
