From the monthly archives:
This proves how serious China is about securing accessto the natural resources it needs to fuel it growth ambitions.
The Iraqi government and the China National PetroleumCorporation have signed a contract that could be worth upto $3 billion.
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One of China’s biggest Olympic disappointments was itsmen’s soccer team. Several of China’s newspapers havebeen critical of that team, but the Chinese government doesn’t like it.
The CentralPropaganda Department (what a name!) has ordered major news organizations to cease their criticism of the soccerteam.
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China’s largest retail drugstore, China Nepstar, reported better than expected profits and very rapidgrowth by opening 244 stores inthe last in the last 90 days.
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Motorola likes to brag how great it is doing in China.The truth is they are not.
Motorola’s market share in China has dropped from21% in 2006 to an estimated 7.9% this year.
Who’s winning? Nokia has 38% of the market and Samsung is a distant second at 8.3%.
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China has plans for 24 nuclear plants and outline proposals foranother 76, says the International Energy Agency.
China isn’t the only country looking to solve itsenergy problems with nuclear power, so take a look at uranium companies.
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How is the heavy equipment business doing in China? Here is what Caterpillar said.
Caterpillar said it expects its sales in China to double from $2 billion this year to $4 billion by 2010. “I fully expect that oursales growth in china will continue at a very highlevel for many years to come.”
Caterpillar is confident [...]
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Toyota lowered itsglobal sales target for 2009 by 700,000 vehicles to 9.7 million
If Toyota is having a tough time, imagine how bad things must be for the big three U.S. automakers.
Interesting note: Toyota of a hybrid that can be plugged into regular household electrical sockets by the end of2009.
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What a difference a few steps lower in the oil food chain can make.
CNOOC, China’s largest offshore oil producer, reportedan 89% jump in quarterly profits. UnlikePetroChina, CNOOC isn’t restrained by the government on what it can charge for the oil it pulls out of the earth.
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At one time last year, PetroChina was the largest company in the world by market cap.
Today, it is getting clobbered because its profits plunged by 34% and said thingswon’t get any better the rest of this year.
The problem is close to nonexistent profits on its refinery operations because the Chinese government has capped theprice it [...]
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China Mobile is still booming.
Subscriber growth, revenues, and profits were all better than Wall Street was expecting. That’s nothing new though because the pinstripe crowd habituallyunderestimates China Mobile’s opportunity.
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