3M plans to invest USD10 million to build a new research and development center in the northern part of Taiwan. According to George Buckley, chief executive officer of the company, this move is expected to help promote 3M's future investment in Asia. Joe Liu, vice president of business development for 3M Asia Pacific and China, [...]
Chinese Internet company Tencent has published its annual financial report for 2010, stating that its net profit increased by 56.2% year-on-year to CNY8.054 billion. Tencent said that due to the good performances of its three major business sectors — Internet value-added services; mobile and telecom value-added services; and Internet advertising — the company achieved operating [...]
The U.S. Securities and Exchange Commission charged IBM with funneling gifts, cash, and entertainment to government officials in South Korea and China. Specifically, IBM was charged with violating the books and records and internal control provisions of the Foreign Corrupt Practices Act of 1977 as a result of the provision of improper cash payments, gifts, [...]
Chinese lifestyle information website Ganji.com has launched a new collective buying product, which will first cooperate with Womai.com owned by COFCO Group in providing group buying deals in Beijing. Ganji.com has reportedly contacted almost 100 vendors for initial cooperation, including many business-to-consumer websites and Golden Harvest Cinema. The products of Ganji.com's group buying will cover [...]
Chinese Internet video company Ku6.com has announced that Li Shanyou, founder and chief executive officer of Ku6.com, has resigned for career development reasons; however, he will still be director of the company and will offer operational guidance for Ku6.com. Meanwhile, Zhu Haifa, director of Ku6.com and chief investment officer of Shanda Group, has been appointed [...]
Canada-based BlueCat Networks announced it is investing an undisclosed amount of funds in Asia Pacific as part of its continued expansion in the region. With its customer base in China growing rapidly, BlueCat Networks has started its investment by opening offices in Beijing and Shanghai. The offices will be tasked with meeting the demand for [...]
ZTE Corporation announced that it has signed purchase agreements with five U.S. technology vendors at total value of USD3 billion. Under these framework agreements, ZTE will purchase semiconductor components from Qualcomm, Texas Instruments, Freescale Semiconductor, Altera Corporation, and Broadcom over the next 3 years. "As a publicly traded and transparent company with more than 18.72% [...]
China's top online travel website Ctrip.com International Ltd. today announced its unaudited financial results for the third quarter ended September 30, 2010, and stated total revenues of CNY863 million, representing a 48% increase from the same period in 2009 and a 16% increase from the previous quarter. "The 2010 Shanghai World Expo has boosted travel [...]
China's Ministry of Industry and Information Technology has published a report for the operational state of the Chinese communication industry for the first nine months of 2010, stating that the country's mobile communication revenue reached CNY465.1 billion during the nine months, a year-on-year increase of 12%. According to statistics provided by the MIIT, from January [...]
Amidst a shuffle of blog posts and news reports in China, rumors are forming that Chinese e-commerce company Dangdang.com is planning an initial public offering on Nasdaq sometime in the next few weeks. Though no media reports point to firm responses from the company started by Peggy Yu or its bankers on the expected sale [...]
