Editor's Picks

Trims mark 3% of work force 

Business | FMCG/food
2012-2-10

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Canadian firms in US$3b deals 

Business | Foreign investment
2012-2-10

CANADA'S Prime Minister Stephen Harper lauded stronger relations with China after Canadian businesses signed nearly US$3 billion worth of deals with Chinese enterprises yesterday. Harper witnessed the signing...

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Confidence up on strong spending 

Business | Economy
2012-2-10

CONFIDENCE among Chinese bankcard holders rose in January because they spent strongly during the 10 public holidays that month, an industry survey showed. The Bankcard Consumer Confidence Index rose 1.25 year on...

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Public disquiet stays over police notice on assets 

Business
2012-2-10

A POLICE statement that the assets of a female death row convict had been properly handled with has failed to quell public disquiet over whether the woman had been dealt with justly under the law. Wu Ying, 31,...

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Technology transfers 'won't be a precondition' 

Business | Trade
2012-2-10

FOREIGN companies won't be forced to transfer technology to ventures with their local partners in order to gain access to markets in China, Commerce Minister Chen Deming said yesterday. "The Chinese government...

Demand and growth lift Lenovo's net 

Business | IT
2012-2-10

LENOVO Group Ltd's net profit in the third fiscal quarter hit a record high and beat analysts' estimates as it tapped the surging demand of Chinese consumers and its expansion in mature markets. In the quarter...

IDQ plans to satisfy craving for ice cream 

Business | FMCG/food
2012-2-10

INTERNATIONAL Dairy Queen Inc, part of Warren Buffett's Berkshire Hathaway family, plans to open another 500 stores in the next five years in China to quench the increasing appetite for ice cream that has made it...

Car sales decline most in over 7 years 

Business | Automobile
2012-2-10

CHINA'S monthly passenger-vehicle deliveries in January fell the most in over seven years after an earlier-than-usual Lunar New Year holiday season deprived dealers of a week's worth of sales. Deliveries of passenger...

Exhibition tells tech park's evolution 

Business | IT
2012-2-10

AN exhibition is being held to showcase the development of the Shanghai Zhangjiang High-Tech Industrial Park in Pudong New Area and high-tech products made by companies there. The free exhibition was launched yesterday...

SMIC's Q4 loss widens on weak economy 

Business | IT
2012-2-10

SEMICONDUCTOR Manufacturing International Corporation, the biggest made-to-order chip maker in the Chinese mainland, yesterday reported a wider loss because of a sluggish global economy which has dampened chip demand....

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January trade in major setback on shrinking demand 

Business | Economy
2012-2-10

CHINA'S trade suffered a strong setback in January as both exports and imports dropped amid shrinking external demand and a slowing domestic economy. The Spring Festival holiday, which distorted the usual working...

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Stocks rise in morning trade on home subsidy scheme 

Business | Securities
2012-2-10

THE Shanghai Composite Index rose in the morning session, as property developers rallied on a home buying subsidy scheme. The key index edged up 0.36 percent, or 8.39 points, to 2,357.98 by noon break with turnover...

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China's yuan rises to new high against USD 

Business
2012-2-10

THE Chinese currency Renminbi, or the yuan, rose to a new high against the dollar today. It strengthened by 72 basis points to stand at 6.2937 against the US dollar today, according to the China Foreign Exchange...

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China's export drops 0.5% y-o-y in Jan 

Business | Economy
2012-2-10

CHINA'S export dropped 0.5 percent year-on-year to US$149.94 billion in January, the General Administration of Customs (GAC) said today. The country's import slumped 15.3 percent year-on-year to US$122.66 billion...

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Report says Apple to unveil new iPad in March 

Business | IT
2012-2-10

A news report says Apple plans to unveil a new iPad early next month. AllThingsD, a website affiliated with The Wall Street Journal, says Apple Inc is holding an event in San Francisco the first week of March -...

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Stocks close higher after debt deal in Greece 

Business | Securities
2012-2-10

THE stock market finally got a deal in Greece, but it didn't produce much of a rally. US stocks rose yesterday morning after Greece announced an agreement to cut costs and keep from defaulting on its debt next...

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Oil near US$99 as investors eye Greece, US demand 

Business | Energy
2012-2-10

OIL prices rose slightly above US$99 a barrel yesterday, supported by investors' faith in a bailout deal for Greece even as US crude demand lagged behind the overall improvement in the world's biggest economy. ...

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US youths struggle to look for jobs 

Business | Jobs/human resources
2012-2-10

SQUEEZED by a tight job market, young Americans are especially struggling. They have suffered bigger income losses than other age groups and are less likely to be employed than at any time since just after World War...

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BOE extends help 

Business | Economy
2012-2-10

THE Bank of England voted to inject more cash into the economy to shore up a fragile recovery and shield the country from fallout from the unresolved eurozone debt crisis. The BOE yesterday said it would buy another...

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Mining for data 

Business | Metal
2012-2-10

CHINA hopes to lure more private investment into its mining industry through a new system of publishing prospecting information for review by potential investors, according to the land authority. Xu Shaoshi, head...

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Home support 

Business | Real estate
2012-2-10

WUHU City will waive a deed tax and subsidize some home purchases, the first Chinese city to ease property curbs this year even as the central government reiterated its stand to keep curbs. The city in Anhui Province...

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Dearer food pushes up inflation 

Business | Economy
2012-2-10

CHINA'S inflation rose to a three-month high in January, an unexpected increase that was mainly due to higher food prices. The Consumer Price Index, the main gauge of inflation, rose 4.5 percent from a year earlier...

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ECB rate unchanged 

Business | Economy
2012-2-10

THE European Central Bank left its benchmark interest rate unchanged at a record low 1 percent yesterday, while it waits to see whether the economy needs more help as the 17 countries that use the euro struggle with...

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Greeks agree on more austerity cuts to release US$173b bailout 

Business | Economy
2012-2-10

GREECE has reached a tentative agreement on new austerity cuts demanded by creditors to release a 130 billion euro (US$173 billion) bailout, hours before a meeting of finance ministers in Brussels, Prime Minister Lucas...

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Price war of words engulfs two Chinese online giants 

Business | Biz Commentary
2012-2-10

ALIBABA, operator of China's largest online shopping site Taobao, is involved in renewed battle with another e-commerce giant, 360Buy.com, over prices. Last week, Etao, an Alibaba Group site that compares online...