China Economic ReviewBaidu (BIDU.NASDAQ), China’s biggest search engine, said Monday that it plans to invest RMB3 billion (US$470.6 million) in two million small and medium enterprises by the end of 2015, in an effort to build their companies, Reuters reported. Baidu will train 100,000 search marketing professionals in order to help SMEs build out their service platforms. […]
China’s TV regulators put out new rules Monday barring commercials during TV dramas, allowing them only in ad spots between programs, The Wall Street Journal reported. The new regulation is expected to go into effect early next year, with the aim of promoting more cultural programming. The cost will probably fall on advertisers, by reducing […]
Shares in HTC (2498.TPE) dropped sharply after the Taiwanese smartphone maker cut sales forecasts, citing increased competition and the worldwide economic slowdown, the Financial Times reported. The company lowered its sales expectations by 20% for the fourth quarter and expects revenue growth to remain flat. HTC’s revenue during Q4 last year was US$3.42 billion. The […]
Profits at Alibaba.com (1688.HKG) rose 12% in the third quarter to US$64 million, hitting analyst estimates after the company hiked fees paid by online vendors earlier this year, Bloomberg reported. Revenue at Alibaba.com, a subsidiary of China eCommerce giant Alibaba Group Holding, grew 11% to US$251 million. The tech company raised fees for vendors by […]
Telecom operator PCCW (0008.HKG) priced its trust IPO at the low end of its preliminary price rage based on weak market demand, raising US$1.2 billion on the Hong Kong Stock Exchange with a final share price of HK$4.53 (US$0.60), The Wall Street Journal reported. PCCW had hoped to raise as much as US$1.6 billion through […]