China is targeting a gold output growth of 3 percent this year to secure its position as the world’s biggest gold producer.
It will seek to boost its underground gold reserves by 800 tons and increase production from 282 tons a year ago to 290 tons this year, the Ministry of Industry and Information Technology said [...]
Fiat Group, the Italian auto maker, said yesterday that it won’t assume Chrysler LLC debt — current or future — in a deal for 35 percent of Chrysler, contradicting earlier statements from Chrysler’s chief executive.
The statement said Fiat “intends to make absolutely clear that the proposed alliance will not entail the assumption of any current [...]
Economists are expecting China to trim banks’ reserve requirement soon to further free up liquidity to back economic growth.
The People’s Bank of China is expected to scale back the reserve requirement ratio rather than cut interest rates, they said.
The central bank has fewer central bank bills due next month, making it more likely to free [...]
Ufida Software will continue to acquire domestic software and IT service firms in 2009, despite the global financial crisis, China’s biggest seller of business software said yesterday in Shanghai.
Ufida has invested about 500 million yuan (US$73.5 million) annually on acquisitions for the past two years and has 1 billion yuan in cash.
Tags: IT, Software
United Eagle Airlines, the first private air company on China’s mainland, has been taken over by state-owned Sichuan Airlines, a company spokesman confirmed yesterday.
Sichuan Airlines has injected 188 million yuan (US$27.5 million) into the private airline to expand its stake to 76 percent, from 20 percent, said the spokesman Cai Chao.
Tags: Airlines, Airport
Domestic advertisers spent 520.3 billion yuan (US$76.16 billion) on TV, newspaper and magazine ads last year, according to statistics released by the Nielson Co yesterday.
Advertising spending rose 17 percent year on year, Nielson said. The growth rate was higher than the 15-percent growth in 2007 but below the 23-percent growth in 2006.
Tags: Ad, China Financial, [...]
