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Mingfa Group raises US$278 mln via HK IPO: reportPublished: 10 Nov 2009 01:12:34 PSTMore From ChinaKnowledge.comChina Economy DataChina Business GuideChina DemographicChina Industrial ParksChina Financial MarketNov. 10, 2009 (China Knowledge) — Mainland property developer Mingfa Group (International) Co<0846> raised US$278 million through an initial public offering in the Hong Kong Stock Exchange, the Wall Street Journal reported, citing an unnamed source as saying. The Fujian-based real estate developer issued 900 million shares at HK$2.39 apiece, said the source. The company started the offering from Nov. 4 after it had announced to lower the indicative price range to HK$2.00 to HK$2.89 a share from HK$3.03 to HK$3.79 due to poor market conditions.The company, which is scheduled to list on the bourse on Nov.13, plans to use 60% of the proceeds to acquire land and 30% to finance future projects, according to its prospectus. Deutsche Bank AG is reportedly the sole global coordinator of the IPO.Copyright © 2009 http://www.chinaknowledge.comlithium battery aion rmt car sun shades peptide synthesis ルーセントハート rmt デカロン rmt
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Hang Seng Index opens 605 points higher on MonPublished: 15 Dec 2008 02:12:05 PSTDec. 15, 2008 (China Knowledge)- Hong Kong stocks rose on Monday morning, with the benchmark Hang Seng Index opening 605 points higher at 15,363.Hang Seng China Enterprise Index, which tracks the overall performance of 43 Chinese mainland state-owned enterprises on the Hong Kong Stock Exchange, opened 361 points higher at 8,273. The two largest Chinese oil producers, Sinopec<600028><386><SNP> and PetroChina<601857><857><PTR> gained 4.81% and 4.13% to open at HK$5.23 and HK$6.99 respectively. China Construction Bank (CCB)<601939><939> added 2.39% to open at HK$4.70. The Industrial & Commercial Bank of China (ICBC)<601398><1398> rose 2.57% at HK$ 4.38.Copyright © 2008 http://www.chinaknowledge.comSend feedback or comments to: news@chinaknowledge.comFor more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related TopicsChina News除湿机 ラテール rmt 弹簧 peptide synthesis solid wood kitchen cabinets wizardry rmt
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Honeywell’s HoneypotPublished: 28 Apr 2009 18:03:40 PSTAuthor: Gady EpsteinFirst-quarter 2009 may have been a terrible one for most of the world, but not for Honeywell China. With double-digit, year-on-year growth, the American giant’s China business has been the only bright spot in the $37 billion (revenue) company. Honeywell ( HON — news — people ) struck a pact to sell engines to a Chinese helicopter maker and has a great shot at participating in China’s ambitious project to build a passenger airplane—for which the target date has just been moved up by four years to 2016.More From Forbes.com: In Pictures: Billionaires Love The Dollar In Pictures: Soccer’s Billionaires In Pictures: Millionaires Who Will Become Billionaires In Pictures: China’s Coming Of Age In The WTO War Who’s Holding World Leaders Accountable? For years to come, growth in the Chinese aviation business, already the second-largest in the world after the U.S., promises to be a boon for Honeywell. China will add up to 3,700 new planes from last year through 2027, according to a forecast by Boeing ( BA — news — people ). »If a company is in the aviation business then currently the biggest market is China,» says Joseph Tymczyszyn, executive director of the U.S.-China Aviation Cooperation Program.It may be obvious that Boeing and engine makers such as General Electric ( GE — news — people ) and Pratt&Whitney will benefit from that expansion. But Honeywell wins too, and not just in avionics for those planes, where it has a commanding position in the market. Honeywell will profit from accommodating all those planes and passengers—with the boring stuff that doesn’t make headlines when contracts are inked.China plans to spend close to $70 billion—and by some estimates significantly more—to build nearly 100 new airports and upgrade dozens more by 2020. Honeywell’s automated systems will compete for a piece of the operations at those terminals, for air-conditioning and security cameras in the terminals, for lighting up the runways and for guiding the planes to the gate.Last year’s Sichuan earthquake also embarrassed Chinese leaders into expanding the country’s tiny helicopter fleet; only 124 were available for civilian use, according to state media. Premier Wen Jiabao told aviation students in Beijing in December that the fact that China had to rent foreign helicopters to help earthquake victims »pricked my heart.» The government invested $73 million in the Jiangxi Province helicopter-production plant of Changhe Aircraft Industries, which aims to sell 300 new Z-11 helicopters in the next five to 10 years, using Honeywell engines to begin delivery early next year.Add it all up and Chinese spending—the headline stimulus figure alone is $585 billion over two years, but overall public investment could be much higher—might end up doing more for a few big American industrial companies than the U.S.’ »Buy American» package. Honeywell joins a list of potential beneficiaries of Chinese largesse that includes not only GE and Boeing but also Caterpillar ( CAT — news — people ), Cummins ( CMI — news — people ) and Timken. »We’ll certainly benefit a lot,» says George Ko, vice president and general manager for Honeywell Building Solutions in China. »The American stimulus plan, I don’t know how much it will benefit China—but certainly the other way around.»Why will American companies get a piece of the action? Beijing prefers its own kind for contracts but still wants Western technology as it upgrades China’s transportation infrastructure. (It should be noted that Chinese labor is behind many of those American products; Honeywell, for example, has 8,500 employees in China.)Honeywell supplies flight systems for many Airbus and Boeing jets, including the auxiliary power system that allowed Captain Chesley B. Sullenberger III to land US A弹簧 マビノギ rmt 弹簧 冷风机 kitchen cabinets online CNC Machining
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Chinese Estates scraps HK$2.09-bln placementPublished: 28 Jun 2009 22:51:40 PSTTop 5 News From ChinaKnowledge.comHTC’s U.S. handset sales likely to rise 50% in 2009Haier Group raises shareholding in Qingdao Haier to 44.58%China, Arab nations to set up energy co-op mechanismChina’s industrial profits down 22.9% in Jan-MayTCL teams up with Xinwang Media for digital TVJun. 29, 2009 (China Knowledge) — Chinese Estates Holdings Ltd<0127>, which is mainly engaged in property investment and development, has announced that it has canceled a HK$2.09-billion issuance plan in response to weak demand, sources reported.On Jun. 25, the Hong Kong-listed company started to issue 118 million shares at prices ranging from HK$13.26 to HK$14.17 apiece, reflecting discounts between 7% and 13% compared with the closing price of HK$15.24 on Jun. 24. The capital raised was between HK$1.56 billion and HK$1.67 billion.Chinese Estates decided not to issue another 29.5 million shares to raise a total of HK$2.09 billion. The proceeds would have been used to replenish the company’s working capital, according to the firm’s original plan.In 2008, Chinese Estates bought back a large quantity of shares at prices between HK$8.52 and HK$12.18 for more than HK$3 billion in total. At the end of last year, the firm’s debt was HK$11.7 billion, HK$3.2 billion of which will mature at the end of this year, and the firm currently has HK$10.4 billion in cash, sources reported. Copyright © 2009 http://www.chinaknowledge.comlithium polymer レッドストーン rmt 管理咨询 Superannuation moe rmt 负压风机
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CNPC halts talks with Chevron on oilfield stake salePublished: 24 Mar 2009 02:22:13 PSTMar. 24, 2009 (China Knowledge) — China National Petroleum Corporation (CNPC), China’s largest integrated oil and gas company, halted talks with Chevron Corp about buying a 12.5% stake in an oilfield in the Gulf of Mexico, sources reported.Last month, Chevron, the world’s fourth largest non-governmental energy company, proposed selling a 12.5% stake in a Gulf of Mexico oil field to CNPC. However, the latter firm wanted a bigger stake, said an anonymous official at CNPC. Big Foot, the oil field in question, is located in deep water about 362 kilometers south of New Orleans. It is currently 60% owned by Chevron, 27.5% owned by Norway’s StatoilHydro ASA (STO) and 12.5% owned by Royal Dutch Shell PLC. Chevron has no further plans to sell stakes in Big Foot, said a spokesman. Reportedly, Chevron obtained exploration rights in a gas field in China’s Sichuan Province in 2007.Copyright © 2009 http://www.chinaknowledge.comSend feedback or comments to: news@chinaknowledge.comFor more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related TopicsChina Newsuv机 リネージュ2 rmt 减速机 3d wall panels iris rmt Mutagenesis
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CNPC branch starts refining expansion project in HohhotPublished: 28 May 2009 20:02:51 PSTTop 5 News From ChinaKnowledge.comCapital Group cuts stake in China Shenhua EnergyNan Shan Life Insurance buys commercial building in TaipeiChina Everbright Bank says no plan to set up private banking unitHaier Group to buy 20% stake in Fisher & Paykel AppliancesHKEx may delay launch of quarterly reportingMay. 29, 2009 (China Knowledge) — A branch of China National Petroleum Corporation (CNPC), which is the country’s largest integrated oil and gas company, on May 26 started construction on an oil refining expansion project with a potential refining capacity of 5 million tons a year in Hohhot, the capital of Inner Mongolia Autonomous Region, sources reported.Expansions to the existing plant include 10 refining machines and one unit for polypropylene production with an annual output of 150,000 tons. The new equipment will generate 4.64 million tons of byproducts such as benzene and liquefied gas. Du Jizhou, general manager of CNPC’s Hohhot branch, said that the expansion project will require a total of RMB 7.85 billion in investment, of which RMB 7.39 billion will be used for construction. The expansion project will go into operation in 2012, and will be provided with crude oil from Changqing Oilfield. The added capacity is expected to generate more than RMB 20 billion in additional sales revenue annually, sources reported. Copyright © 2009 http://www.chinaknowledge.comuv灯 cabal rmt 香港花店 弹簧 eco rmt アラド戦記 RMT
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China’s small, mid-sized commercial banks see profits surgePublished: 18 Mar 2009 00:25:19 PSTMar. 18, 2009 (China Knowledge) — Small and medium-sized commercial banks in China saw a 53% surge in their combined profits, which were RMB 125.2 billion (US$18.3 billion) last year, according to statement made by the nation’s banking watchdog, China Banking Regulatory Commission (CBRC), on Tuesday.By the end of last year, these banks, which focus on lending to small, privately-owned enterprises, had achieved their capital adequacy ratios. The ratios of joint-equity commercial banks hit 10.5%, while that of city commercial banks reached 13%, said the statement.The 2008 ratio of non-performing loans (NPL) of small and mid-size commercial banks edged down to a record low of 1.7% from 2.45%, while the NPL ratio of joint-equity commercial banks fell to 1.35%, and that of city commercial banks fell to 2.3%.Copyright © 2009 http://www.chinaknowledge.comSend feedback or comments to: news@chinaknowledge.comFor more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related TopicsChina News风机箱 kitchen cabinets Aloe vera 弹簧 タルタロス rmt ドラゴナ RMT
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Great Wall to set up production facility in BulgariaPublished: 12 Dec 2008 02:54:01 PST Dec. 12, 2008 (China Knowledge) — Great Wall Motor Co Ltd<2333>, the largest privately owned automotive manufacturer in China, said it has signed a letter of intent with a Bulgarian company to jointly sett up a car plant in the European country. The new plant, located at Lovech, about 170 km northeast of Sofia, is scheduled to be launched at the beginning of next year and will provide around 1,500 jobs, according to a government statement. Great Wall is reportedly to invest EUR 80 million in the joint venture, which is expected to produce 50,000 vehicles per year, mainly targeting at the Bulgarian market, sources reported. Last month, the Chinese auto manufacturer decided to dissolve its joint venture in Russia due to recent regulatory hurdles and the prevailing gloomy macroeconomic situation in the world. Copyright © 2008 http://www.chinaknowledge.com Send feedback or comments to: news@chinaknowledge.com For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related Topics China News lithium battery RTA cabinets lithium batteries 外汇交易 エバープラネット rmt
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First ’mobile phone ticket’ for World Expo unveiled in ShanghaiPublished: 13 Oct 2009 23:02:01 PSTThe Shanghai World Expo, which will open on May 1, 2010, will have visitors use a "mobile phone ticket" for the first time in World Expo history. The "mobile phone ticket" was unveiled in Shanghai Tuesday.With this "mobile phone ticket", visitors attending the World Expo can travel around the Shanghai Expo Park by using their mobile phones.Experts from Shanghai Mobile explained that radio frequency identification (RFID) technology and subscriber identity module (SIM) were combined so that the users do not need to change their phone numbers, but get a SIM card that combines with the RFID, then the whole process of ticket purchase and ticket inspection can be done via cell phones.More than 70 million visitors are expected to visit Shanghai during the World Expo period and many of them will visit the Shanghai Expo Park. The "mobile phone ticket" is convenient and environmentally-friendly, as well as speed up ticket inspection.To ensure smooth communication in the park, China Mobile has invested 1 billion yuan in the construction of communication facilities and set up of a network at the Shanghai Expo Park, and visitors can access information about the park, weather and transportation through their cell phones in the park."Mobile phone tickets" for general admission will be launched first, and the price will be 140 yuan. China Mobile will begin sales of these tickets in select business halls in Jilin, Zhejiang, Hunan, and Guangdong provinces; Beijing, Shanghai, Chongqing, and Inner Mongolia Autonomous Region from November 1. The users can also book tickets through their cell phones and the Internet.Li Na contributed to the story Explore the World, Understand China!Please log on http://www.gloaltimes.cnlithium polymer cheap kitchen cabinets 宁波旅游 北京翻译公司 ドラゴニカ rmt
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Detained Rio Tinto employees allowed to meet laywersPublished: 18 Aug 2009 22:02:02 PSTThe four employees of Rio Tinto’s Shanghai office, Stern Hu, Liu Caikui, Ge Minqiang and Wang Yong, were allowed to meet their defense lawyers yesterday for the first time since they were detained on July 5.Zhang Peihong, the defense lawyer for Wang, told reporters this may be their only meeting during the investigation because the procedures were very complicated and it has to be approved by relevant departments.Ge’s defense lawyer Zhai Jian said details of the case were not discussed during the meeting as a supervisor was present, and that the case would be clearer after the prosecution’s recommendations are presented to the procuratorate. He added that the meeting mainly eased the four’s concerns.According to Chinese Criminal Law, public security organs will hand over opinions recommending prosecution to the procuratorate after the investigation, which usually lasts two to three months, and then the procuratorate will have 45 days to verify and decide whether there is enough evidence to try them in court.The four employees of Rio Tinto were detained on charges of stealing state secrets last month. On August 11, Xinhua News reported they were officially arrested on charges of trade secret infringement and bribery by the Shanghai Procuratorate. Explore the World, Understand China!Please log on http://www.gloaltimes.cnlithium 3.6V battery kitchen cabinets wholesale lithium batteries 工作流 China Sourcing
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Invesco raises stake in Wumart StoresPublished: 03 Sep 2009 21:57:11 PSTTop 5 News From ChinaKnowledge.comBank of China to raise money for 24 Swiss fundsIndustrial Bank to issue RMB 10 bln in subordinated bondsAgile Property to hold board meeting on H1 results next WedGoogle China President Kaifu Lee may resignChinese stocks open mixed on FriSep. 4, 2009 (China Knowledge) — Invesco Hong Kong Ltd on Aug. 31 raised its shareholding in Wumart Stores Inc<8277> to 5.05% from the previous 4.89%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.Information from HKEx shows that Invesco Hong Kong on Monday bought 806,000 shares of Wumart Stores for HK$9.66 million. The average share price of the transaction was HK$11.99 apiece.On Aug. 10, Invesco Hong Kong sold 914,000 shares of Wumart Stores at an average share price of HK$11.75 apiece.Shares of Wumart Stores climbed 2.34% to close at HK$12.24 yesterday.Copyright © 2009 http://www.chinaknowledge.comlithium polymer kitchen accessories 激光切割机 lithium batteries メイプル RMT
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6China to issue 3G licenses soon: ministerPublished: 15 Dec 2008 02:01:37 PSTDec. 15, 2008 (China Knowledge) — China will issue 3G mobile wireless licenses by the end of 2008 or early next year, said Li Yizhong, China’s Minister of Industry and Information Technology (MIIT), said at a press conference on Friday.Networks using China’s homegrown TD-SCDMA platform will be run by China Mobile Ltd<941><CHL>, while networks with WCDMA and CDMA 2000 platform will be operated by China Unicom<600050><762><CHU> and China Telecom<728><CHA> respectively, according to the minister.»The three companies are all well-funded. If 3G licenses are issued, we expect investment in this field will be at least RMB 200 billion next year,» Li said, adding that the investment will help boost China’s economic growth amid the global financial crisis.Li also urged the three telecom operators to unveil their respective plan on 3G network development, and avoid repetitive construction during the process.Copyright © 2008 http://www.chinaknowledge.comSend feedback or comments to: news@chinaknowledge.comFor more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related TopicsChina Newsドラゴンネスト rmt kitchen cabinetry passenger elevator lipo battery car sun shades
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Haier Computers teams up with U.S.-based NComputingPublished: 21 Jul 2009 17:49:18 PSTTop 5 News From ChinaKnowledge.comHSBC approved to set up branch in TaiyuanChina Int’l Travel Service wins CSRC approval for Shanghai IPOShanghai Zhenhua wins US$2.2-bln supply contractHK, 9 PRD Municipalities hold forum on further cooperationHaier Computers teams up with U.S.-based NComputingJul. 22, 2009 (China Knowledge) — China’s Haier Group, the world’s fourth-largest white goods manufacturer, recently said its computer unit and U.S.-based desktop virtualization company NComputing have formed a strategic partnership to provide low-cost computers to educational and government institutions worldwide, the China Daily reported.The two companies currently are working on programs in Nigeria. They will initially target 18 countries in Africa, Europe, Asia and Latin America and will be jointly working on deals representing nearly 1.5 million workstations in the next eight months, and eventually aim to expand the partnership to other countries.NComputing CEO Stephen Dukker said that old, used computers, which have high operating costs, are often donated for large educational projects in the developing world. By partnering with Haier, the company will be able to bring its software solutions, which enable multiple users to share the use of a single new PC, to millions of students and citizens around the world, he added.NComputing is also targeting deployments in schools, hospitals and small- and medium-sized businesses in China via teaming up with Haier.Haier Computers is one of China’s largest PC companies and has a US$18-billion global business, but is not well-known outside China. The new partnership, which will increase Haier’s presence in more than 30 countries in the Middle East, Africa, Europe and South America, may ultimately help it enter the U.S. market, according to the report.Copyright © 2009 http://www.chinaknowledge.comprotein expression リネージュ rmt エルソード rmt dental bearings 古城
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Sun Hung Kai to wholly own Transport Infrastructure ManagementPublished: 07 Sep 2009 22:54:45 PSTTop 5 News From ChinaKnowledge.comStandard & Poor’s downgrades Country Garden’s ratingsChina State Construction to build US$3.6-bln tourism projectHang Seng Index opens 11 points lower on TueCompal to set up 5th notebook plant in mainland China in Q4HSBC China issues RMB 2 bln in bondsSep. 8, 2009 (China Knowledge) — Sun Hung Kai Properties<0016>, Hong Kong’s largest developer by market value, yesterday announced that it plans to acquire the remaining 33.33% stake in Transport Infrastructure Management Ltd for HK$45.5 million or US$5.83 million through a subsidiary, Wilson Tollway, sources reported. According to the Hong Kong-listed firm’s plan, Wilson Tollway, which currently has a 66.67% stake in Transport Infrastructure Management, will purchase a 13.33% stake in the management firm from AMEC for HK$17.5 million and will acquire a 20% stake in the management firm from China Resources (Holdings) Co Ltd for HK$28 million. Reportedly, a large mixed-use property project, a project located in Guangzhou and jointly developed by Sun Hung Kai Properties, Guangzhou R&F Property Co Ltd<2777> and KWG Property Holding Ltd<1813>, has started construction. The project, which will comprise a five-star hotel, an office building, apartments and stores, will have about 100,000 square meters of shopping space, including four stories above ground and one story underground, according to Huang Shaomei, a regional manager of Sun Hung Kai Properties.Copyright © 2009 http://www.chinaknowledge.com3d wall panel 弹簧 in stock kitchen cabinets 信長 rmt 浙江旅游
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Cement ConundrumPublished: 20 Oct 2009 17:12:38 PSTChina aims to streamline the crowded cement industry Policymakers are looking to build a concrete wall around the cement-making industry as they seek to solidify the fluid cement market and cut excessive production.On September 7, the Ministry of Industry and Information Technology (MIIT) issued a draft circular, raising requirements for enterprises that plan to line up cement-making operations. The draft regulation, which was open to public comments until September 20, will be finalized by year’s end.Clampdown on excessive capacityThere is no doubt that policymakers want to cool down the overheating cement industry saddled with overcapacity, said He Guowen, a senior analyst with the Beijing-based Sinolink Securities Co. Ltd., in a report. Seldom before has the government enacted such detailed and concrete measures for the sector, he added.Indeed, the problem of overcapacity has been a protracted ailment bearing down on Chinese cement makers. By the end of 2009, cement capacity nationwide totaled 2.8 billion tons, but the maximum demand was estimated at only around 1.8 billion tons, said Lu Guixin, a senior official with the MIIT, at the third Zhejiang Cement Business Conference held on September 27 in Hangzhou, capital city of Zhejiang Province.Analysts believe the root cause of the overcapacity surely lies in burning-hot investments. The buoyancy of the real estate market injected steam into the real economy, also delivering a heavy boost to the numerous cement makers and triggering vibrant investments in the sector.Recognizing the pitfalls of overcapacity, the Central Government stepped up a strict control over the cement sector as early as 2002, and closed a large number of small mills in order to strengthen the fragmented industry.The task, however, appears to be easier said than done, especially after the financial crisis that has plagued global markets for the last year put the onus on investments as a source of growth. The infrastructure-weighted government stimulus package kicked off a spending spree geared toward highways, airports, bridges and railways, stimulating demand for cement. This has helped prompt an 11-month upward trend in domestic cement prices, adding fuel to the fires of investment in the sector.According to the data from the National Bureau of Statistics, investments in fixed assets in the cement industry from January to August this year exceeded 100 billion yuan ($14.6 billion), representing an increase of around 66 percent year on year. The increase in investment was much faster than that of most other industrial sectors.Besides this, the cement output nationwide in the first eight months grew by a robust 17 percent from last year’s same period, according to the China Cement Association. In May and June alone, the number of newly opened cement production lines totaled a dizzying 23, with 13 of them having a daily capacity of 4,000 tons and above, said the association.Worse still, the new investments will lead to a wider expansion in production capacities in the next two years, exacerbating the overcapacity conundrum, said analysts.Aside from alleviating the cement market saturation, the regulation has another obvious purpose—to discard backward capacities and press ahead with advanced technologies.Nowadays there are two prevalent cement-making methods in China: the outdated polluting shaft kiln technology and the advanced environmentally friendly precalcining technology.Data from Chinacements.com, a leading cement trade website, showed that 37 percent of China’s cement is now made using outdated methods. But according to the draft regulation, shaft kiln cement mills will no longer be approved to operate.By implementing the new policy, the MIIT is reportedly gearing up to remove all shaft kiln-skateboard bearings 港澳游 ready to assemble kitchen cabinets tw rmt 激光打标机
UPDATE 3 baseball jersey -S.Korea’s battling Ssangyong union does deal
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UPDATE 3-S.Korea’s battling Ssangyong union does dealPublished: 06 Aug 2009 02:35:15 PSTSEOUL, Aug 6 — Workers at Ssangyong Motor Co on Thursday ended 2-½ months of increasingly violent protests and agreed to big layoffs at South Korea’s smallest carmaker, for months on the edge of bankruptcy.Its struggles, which analysts say are still far from over, have been seen as a test of the conservative government’s willingness to let a major employer go under in the current economic downturn and to stand up to powerful labour unions.The aggressive tactics of the unions, a number of analysts say, have deterred both local and foreign investors.Though the courts have protected Ssangyong from its creditors who want it liquidated, the last few days have seen ferocious battles between riot police and Molotov cocktail-hurling strikers at Ssangyong’s plant outside Seoul and which by Thursday ended with the union finally agreeing to major job losses.»The outlook for Ssangyong remains very dark as the company does not have a clear schedule for a new model. Its sales to Europe are also falling as its cars do not fit environmental regulations there,» said Michael Sohn, an auto analyst at Woori Investment&Securities.Despite the common gloom over the company’s difficulties, which predate the global economic crisis, news of a union deal sent shares in the carmaker up by the daily limit of 15 percent, easily outperforming the wider market.The two sides had agreed a deal and that workers had ended their occupation of the factory, Cha Ki-woong, a company spokesman said.Ssangyong, 51 percent owned by top Chinese car maker SAIC Motor Corp and under court receivership since February, wanted to cut its about 7,100 workforce by more than a third.Some 1,670 employees have already quit. But hundreds more refused to go, occupying the factory for 76 days, stopping production lines and costing the company, by its estimate, 316 billion won ($258.5 million) in lost production.Last month, it sold just 71 vehicles, compared to more than 10,000 a year earlier.The union agreed that of the remaining 974 workers targeted for the sack, 52 percent would be laid off and the remainder put on unpaid leave or be transferred to sales positions, Cha said.The deal also comes after its management threatened to go into liquidation because of the failure to reach a deal with the union.The dispute has highlighted concerns over the power of the unions over Asia’s fourth largest economy which is trying to shift from industrial production, using an increasingly costly labour force, and place more emphasis on the service sector.Critics of the country’s long-militant unions say their resistance to change and laws making it extremely difficult to lay off workers is undermining competitiveness especially against huge neighbour China.But the deal by the Ssangyong union, which had originally refused to accept any job losses, is likely to be seen as another blow to the more militant labour unions which dominate the work force in several of the country’s industrial giants but whose power may well be on the wane.Hyundai Motor Co, the world’s fifth biggest automaker, has the biggest unionised workforce in the country. But every new plant it has opened in the past decade has been abroad.President Lee Myung-bak, a former top company boss, has made it clear he wants to tame the unions and is trying to bring in reforms that would allow company’s to employ contract staff for much longer periods, something likely to erode the influence of unions in the workplace. ($1=1222.4 Won) アトランティカ rmt 港澳游 rta kitchen cabinets ro rmt 烘箱
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Rubber prices to rally on rising domestic car salesPublished: 04 Sep 2009 00:02:01 PSTRubber prices are expected to climb as much as 19 percent by the end of next year as rising vehicle sales in China boosts demand, said Marubeni Corp, the largest Japanese trader of the commodity.The cash price will probably trade between $1.80 and $2.30 per kg in the six months starting Jan 1 and range from $2 to $2.50 in the second half, said Roka Komiya, a trader at the rubber section of Tokyo-based Marubeni. The commodity currently trades at $2.10 per kg, and may retreat to as low as $1.50 later in 2009 before recovering, he said in an interview.Futures in Tokyo have gained 46 percent this year as the global recession eases and demand rises from tiremakers including Bridgestone Corp and Michelin & Cie, the world’s top two producers. The US, Germany and Japan have offered incentives to purchase new cars to save the automobile industry from the worst slump in decades. Vehicle sales in China, the biggest natural rubber consumer, rose 71 percent in July."Chinese demand will continue to increase as we can’t see any negative factors," Kazutaka Sonomoto, manager at Marubeni’s rubber section, said in the same interview in Tokyo Tuesday. Car ownership in China will accelerate, he said.February-delivery rubber traded at 198.8 yen per kg ($2,141 a ton) on the Tokyo Commodity Exchange at in afternoon trade. Prices reached 214.5 yen on Aug 31, the highest level for the most-active contract since October 8.(China Daily) Explore the World, Understand China!Please log on http://www.gloaltimes.cnff14 rmt car sun shades Share trading tera rmt edda rmt