CHINA

China's Hua Xia Bank 1Q net profit up 80.43 percent

China's Hua Xia Bank, a business bank listed in Shanghai Stock Exchange in 2003, posted first quarter net profit of 822 million Yuan(117.4 million US dollars), 80.43 percent higher than the same period last year.

Zimbabwe police release detainees

The Zimbabwe Police have released detained MDC members of the opposition party following pressure from lawyers for Zimbabwe's MDC party and a court ruling issued by the Harare High Court.

3Com names China-based CEO after Buyout Denial

3Com Corp. on Tuesday named a new CEO who will be based in China, after it unsuccessfully sought to win a U.S. government approval to sell a minority stake to China's biggest telecom gear maker Huawei Technologies Co Ltd.

Avon 1Q Profit Climbs on Sales Abroad

Avon Products Inc., the largest door direct seller of cosmetics, said Tuesday its net income rose 23 percent helped by stronger sales in Brazil, Russia and China.

China's Railways Ministry plans 60-day grain transport from North China to South

China's Railways Ministry plans to transport 10 million tons of grain from northeast to south in order to stabilize rice prices in south China, the Chinese official media CCTV reported today. The plan will be launched on May 1 and end on June 30, totally 60days.

Vodafone to bring Apple iPhone to India

Vodafone India, the arm of UK based world's largest wireless telecom company Vodafone, is likely to bring the much awaited, versatile and Macintosh operating system based Apple's iPhone to India this September as per market speculations ripe in the country.

Lenovo to Sell VMware in China

Lenovo confirmed its intentions to distribute sell and support VMware's virtualization platform in server systems sold in China.

RCom acquires WiMax operator eWave World, to expand global footprint

Anil Dhirubhai Ambani Group's (ADAG) flagship company and India's second largest mobile services provider, Reliance Communications said it has acquired eWave World, a UK-based WiMax operator for an undisclosed sum.

Air China net profit soaring in 1Q

Air China Limited, the world's largest carrier by market value, earned a net profit in the first quarter of 1.04 billion Yuan (148.6 million US dollars), or 0.09 Yuan per share, which is 147 percent higher than the same period of last year.

China's Baidu 1Q net profit increases 70 percent

China's Baidu.com, Inc. just posted a net profit of 144.6 million Yuan in the first quarter, 71.5 higher than the same period of last year.

CNN Faces $1.3 Bln Lawsuit - $1 per person in China

CNN is being sued on not just on one, but two continents. A Chinese primary school teacher and a beautician have filed a suit against CNN in New York over remarks they say insulted the Chinese people, in addition to the 14 lawyers who are trying to have their case heard in Beijing courts.

Oil vigilantes are resurfacing in the Nymex oil pits

By Gary DorschIn the futures markets, crude oil is up 80% from a year ago, unleaded gasoline up 40% natural gas up 39%, Soybeans are up 83%, corn up 65%, wheat up 95%, sugar up 30%, Gold up 36%, and rough rice is 125% higher from a year ago

China declines the securities trading tax

The State Council of China said on beginning tomorrow, the securities trading tax will decline to 0.1 percent from current 0.3 percent.

China's SSE rebounds to 3278 points

Both of China's two stock markets opened lower on Wednesday morning. Then the stocks rose rapidly after a slight fall.

White Sugar Drop on Concern of Increasing Global Supplies

White sugar tumbled on Wednesday in London on concern that increasing output in China and Brazil will add to a global surplus.

Yahoo profit rises, but Microsoft bid likely to stand pat

Yahoo Inc.'s first-quarter performance was a little like Goldilocks' favorite soup _ not too hot and not too cold, and that has set the table for a bitter battle over Microsoft Corp.'s bid to take over the Internet pioneer.

Chinese ship to return from Zimbabwe

China reported on Tuesday that its shipment of weapons bound for Zimbabwe is likely to return following the refusal of port workers in Southern African countries to have access to its ports.

Stronger China Sales Boost Fast-Food Giant Yum's 1Q

Fast-food company Yum Brands Inc. reported a 31 percent jump in first-quarter profit on Tuesday, citing robust growth in its China and international divisions and steady results in the U.S.

Google Labeled World's Most Powerful Brand

Google was ranked the world's most powerful brand for the second time, after the firm dominated the online advertisement industry across the globe.

Copper Rises 2% as Codelco's Strike Shuts 3 Mines

Copper prices rose on Tuesday as a labor strike in Chile's largest producer Codelco closed three mining divisions raising concerns that supplies would not be able to meet worldwide demand.

Is Gold price all set for a big crash?

By Jon NadlerMetals prices remained within fairly tight ranges overnight as little demand emerged from Asia around the $910 level. The US dollar once again came very close to the critical 1.60 mark against the euro, while crude oil scaled new peaks above $118 spurred by labour problems in the UK and...

Mattel and Hasbro to Hike up Toy Prices

The world's biggest toy makers posted contrasting quarterly results on Monday, with Hasbro Inc. reporting strong profit, while rising costs and legal expenses left Mattel Inc's with a first quarter loss.