Ctrip.com International Ltd, a top company providing travel service in China, stated on Aug. 15 that its second season net profit rose 33% year on year, reporting total revenues of 508 million yuan, respectively with hotel reservation revenues up to 227 million yuan. This represents a 16 percent increase year-on-year, and a 21 percent increase season to season. Air-ticketing revenues were 222 million yuan, a 32 percent year-on-year growth, and a 20 percent increase quarter to quarter; packaged-tour revenues were 36 million Read more…

Popularity: 1% [?]

China, company, economy, profit, season, travel

Being the second biggest oil company in China, Sinopec Group decided to buy a oil and gas company, Addax Petroleum Corp at the price of 7.3 billion dollars, which is based in Geneva. This happened in a bid to tap oil reserves in West Africa and the Middle East.

It was the subsidiary company of Sinopec Group, Sinopec International Petroleum Exploration and Production Corp (SIPC), that settled the deal. On June 24th, Sinopec in Beijing Read more…

Popularity: 1% [?]

China, company, economy, gas, oil, Sinopec

On the day Mar, 27th, 2009, Mountain Partners Group (MPG), which is a Swiss investment company, announced that they would build the first institutionalized angle fund in China focusing on the new but potential corporations. Read more…

Popularity: 4% [?]

China, company, economy, fund, investment, MPG, Swiss

Recently, many multinational firms are cutting their jobs and reducing the costs as a result of  global financial crisis, however, many industry giants like General Motors China, McDonald’s, Johnson&Johnson Medical China and Wal-Mart have confirmed that they will not stop their recruitment in China.

During the 2009 Hewitt Best Employers in China session on March 26th, 10 companies said that they have plans for recruitment this year. Read more…

Popularity: 4% [?]

China, company, crisis, development, economy, employment, industry

Because of the 29 percent rise of China sales for its patent medicines, the Swiss drug maker Novartis shows that they may start six new medicines in the domestic market this year.

Senior company executives forecasted that there would be 30 percent growth in sales as sales rose to 3.3 billion yuan in 2008.

Jeffrey, chief executive officer, Novartis China said that 2008 is the best year in their sales in recent years, in spite of the financial turmoil.

This year, a global sales growth of five percent is Novartis’ target. According to Li, the proportion of Novartis’ global sales in China is one percent.

2.26 billion yuan has already been invested and more will be laid in establishing infrastructure, research and Read more…

Popularity: 5% [?]

China, company, drug, economy, growth, market, Novartis

BPOVIA, the leading Virtual Assistant service provider, today announced that it has been awarded as one of the Red Herring Top 100 Global Companies. Red Herring Top 100 Global Companies are chosen from winners and finalists of the previous North America, Europe and Asia Red Herring Top 100 Companies. Out of 1,800 successful and highly eligible companies, the Red Herring editorial team deployed a detailed process to drill-down the best companies first to 200 finalists, then to the top 100 winners of this global award. Evaluations were made on both quantitative and qualitative criteria, such as financial performance, innovation, management, global strategy, and ecosystem integration. Read more…

Popularity: 10% [?]

BPOVIA, China, company, economy, Red Herring, service, Virtual Assistant

More and more workers in Shanghai have been laid off because of the financial crisis.

As the financial crisis gets closer to the workers’ daily life in Shanghai, the white collar and some gold-collar workers are like toast of the town, feel the pressure from all sectors.

A Shanghai white-collar worker of an American company told us his company has relieved 10 percent of the staff, and there would be more layoffs after the Chinese lunar New Year holidays. Read more…

Popularity: 6% [?]

China, company, crisis, economy, employees, employers, job, layoffs, Shanghai

Rather than learning lessons from the failure of the US President Barack Obama’s announcement, aiming to end the America’s “Gilded Age”, of compensation caps on financial companies, some Chinese State-owned financial companies still go on with their risk of stirring the public with their thumping executive packages.

Guotai Jun’an Securities Co, one of the largest brokerages in China, is the very firm that the public attack most, as it’s reported that, for Read more…

Popularity: 2% [?]

China, company, compensation, economy, expense, failure, risk

After suffering massive losses from deteriorating debt, Citigroup Inc, is going to cut about 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself.

This news has been posted on the company’s website. Moreover, at the town hall meeting of the company, the plans were being discussed by CEO Vikram Pandit in New York on Nov 17 with employees.

In October, the company had already announced that it was eliminating about 22,000 jobs from the Read more…

Popularity: 3% [?]

China, Citigroup, company, debt, job, loss