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Honda Motor Co. cut group net profit forecast by 61.9 percent from its previous estimate, the third time to revise downward the projection for fiscal 2008 through next March, according to local media on Wednesday. The second-largest automaker in Japan now estimates earnings of 185 billion Japanese yen. It also made downward revisions in July and Octob...
Nissan Motor Co., Japan's third- largest automaker, will further cut its domestic auto production for fiscal 2008 by about 78,000 units from January 2009, marking the fourth reduction in domestic market this year, company sources said. This further reduction is necessary to manage inventory levels and ensure a balanced production supply, in response t...
General Motors and its China partner Shanghai Automative Industry Corporation(SAIC) launched a car plant on Wednesday in northeast China, making it one of the three production bases of Chevrolet Cruze cars in the world. As the second joint venture by GM and SAIC in Shenyang, the capital of northeast China's Liaoning Province, the new plant involves a t...
The Border Trade Alliance on Friday urged House leaders to include $301 million in an economic recovery spending bill for upgrading Customs inspection facilities at land ports of entry. The amount is equal to that in draft legislation circulating in the Senate. The BTA, which represents border and trade interests, said in a letter to ...
Citibank opened its first lending company on the Chinese mainland Tuesday to offer loan service to the country's rural areas, many of which lack funds for development. The Gong'an Citi Lending Co., Ltd in Gong'an County, Hubei, has a registered capital of 17 million yuan (2.48 million U.S. dollars). It was invested by Citibank Overseas Investment Corpo...
US automotive battery supplier Johnson Controls announced on Tuesday that it will invest $90 million to build a lead acid battery production facility in China. Construction of the plant, to be located in China's green-power energy industrial center in Changxing Economic Development Zone, Zhejiang province, is scheduled to start in January 2009, the US ...
China Development Bank Corp. (CDB) was officially launched here on Tuesday, as the bank is transforming itself into a commercial organization. As one of the three major policy banks, CDB's move was a major step in China's financial reform. With a registered capital of 300 billion yuan (44.12 billion U.S. dollars), the new corporation inherited all ...
Coco-Cola China claimed it has not violated China's labor law, a move brought about by an undercover report put together by university students who worked for the company in the summer which accused the company of exploiting its workers. The claim made by the students is not true, and the company wants to communicate with the students concerning the ma...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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