Saturday, September 27, 2008

iPhone will Landing on Russia Soon

iPhone in RussiaRussia's major mobile phone and electrical retailers have recently announced that they will be start sales of Apple's iPhone 3G on October 3.

The public relations officials of electrical chain retailer Tekhnosila said that major retailers will begin selling iPhone at the same time in Russia. The exact time is the early morning of Oct. 3.

The other two major chain stores Eldorado and said they will sell iPhone on October 3. Eldorado estimated that this year's sales will be more than 150,000 units. One store will sell at more than 15,000.

In Russia market, the retail price of iPhone 3G (8G version) is 22,999 Rubles, 16GB version is 26,999 rubles, respectively, is equivalent to 1084 U.S. dollars and 923.6 U.S. dollars.

So, China has become the world's only enormous market whcih Apple has not captured.

Originally Posted: China Business Daily
Author: Angulo Fu


Speed of Internet Access will be Up to 1G/s within 10 Years

Vint CerfRecently, the father of the Internet Vint Cerf said that over the next 10 years, the speed of the Internet will be further enhanced, and even up to 1G/sec.

He said that in the next 10 years, about 70% of the world's population will access to Internet by fixed or mobile methods. The speed of the Internet will also be increased, up to 1G/sec. The mobile devices will become a major part of the Internet, of course, including a variety of other equipments and sensors.

Originally Posted: China Business Daily
Author: Angulo Fu


Countries and Regions' Response to China Poisoning Milk Incident

China Dairy ProductsA total of more than 10 countries from Asian and African have banned imports of dairy products from China. And several countries for fear of poison milk products go in the domestic market, have recalled these products before Wednesday. At the same time, the European Union made a ban on baby milk from China.

The following are the response to the China poisoning milk incident from countries and regions.

Banned the import of the three China brands Sanlu, Sancare and Yashili. All imports of milk powder have to receive the national quality inspection.

Prohibited imports of dairy products and domestic products from China, made a comprehensive investigation in domestic market.

Ministry of Health banned all Chinese dairy products, although Brunei does not directly import dairy products from China.

Saturday Promulgated an order prohibiting the import or sale of Chinese dairy products.

Banned on import of China milk powder.

The EU banned on imports of the infant food whose components contain Chinese milk.

Passed a ban on all food containing Chinese milk as a preventive measure.

Promulgated the ban at the same time as Burundi.

On Tuesday, Food and Drug Council suspended all imports of Chinese milk and milk products.

Banned on imports of Chinese milk and milk products for three months at least.

On Tuesday, Banned on the import of Chinese-made dairy products.

Cote d'Ivoire
Banned on imports of Chinese-made dairy products.

On Tuesday, banned on the import and sale of all dairy products, chocolate, candy and other food products containing milk from China.

Banned on the import of China dairy products to protect 30 million people.

Banned on the import of milk and foods containing milk as a preventive measure.

Papua New Guinea
Banned on the import of Chinese dairy products.

On Tuesday banned on the import or sale of Chinese milk products, investigated possible contamination product.

Singapore found two cases of Chinese products containing melamine. On Sept. 19, prohibited the import or sale of Chinese dairy products.

South Korea
Found that Chinese imports of biscuits containing melamine. It banned on all imports of all Chinese food containing milk powder ingredients.

Banned on the import of China milk and milk products, and strengthen the testing of imported food from South-East Asia.

On Sunday banned on the all dairy products from mainland and set up a milk testing station in Taipei for consumers.

Stopped all imports of Chinese dairy products, sealed 34 tons of China milk powder.

Prohibited the import, transport, sale of original Chinese dairy products.

Bbanned on the import of China milk. The Ministry of Health officials have warned that such products may be sold to the central poverty-stricken areas.

As a preventive measures, British supermarket chain Tesco has removed white toffee in the United Kingdom, China and Malaysia.

Recalled of Chinese-made Nissin Foods containing Yili milk. Yili dairy meterials and products failed to pass quality inspection in Hong Kong. Canada has also expanded the range of product quality testing.

All milk powder and liquid milk from 22 manufacturers have been removed from supermarkets and chain stores. Starbucks removeed the ingredient from the Mengniu milk. A spokesman said Tuesday, Germany's biggest retailer Metro removed the related dairy products in some warehouse-style supermarkets.

Hong Kong
All products of Yili, including milk, ice cream, popsicles, and lactic acid products have been recalled in last Thursday. Nestle's milk powder was under the plane as a result of press reports of its milk powder containing melamine. This Enterprises from Switzerland is very self-confident, but Nestle's milk, pure milk have been found melamine in Hong Kong. Nissin food has been recalled and is under the investigation.

Japan's food manufacturer Marudai has recalled five kinds of snack, as a result of raw materials containing milk imports from China Yili milk.

Originally Posted: China Business Daily
Author: Angulo Fu


Starbucks Coffee Repalced Milk with Soy

StarbucksBecause dairy products affected by pollution, global coffee giant Starbucks chain in China has stopped providing milk drinks. All milk have been substituted for the Soy milk imported from United States.

Because Starbucks has a cooperation with China Mengniu Dairy Co., after part dairy products of Mengniu were found to contain melamine, more than 300 Starbucks stores in China immediately disabled the milk emergently, and did't sell coffee including milk component.

According to Starbucks related sources, to find a suitable milk suppliers will take some time, so the company will substitute for Soy milk.

At the same time, Mengniu's another partner Kentucky have stopped supplying milk drink from Mengniu, and will resume sales after confirm that all batches of products in line with food safety standards.

It is reported that McDonald's did not co-operate with 22 milk companies which are in the scandal. The supply of milk and milk drinks are safe.

Originally Posted: China Business Daily
Author: Angulo Fu


Friday, September 26, 2008

Sinopec Proposed Acquisition of Tanganyika Oil Ltd.

China Petroleum & Chemical CorporationYesterday, Oil producer Tanganyika Oil Ltd. said that the China Petroleum & Chemical Corporation (hereinafter referred to as "Sinopec") to raise 2.07 billion Canadian dollars to buy the company. The Toronto listed company's statement said the Sinopec Group to spend 31.5 Canadian dollars per share to acquire all shares of Tanganyika Oil. The total amount is up to 65.6 millions.

Tanganyika Oil said Sinopec's bid is reasonable and in line with the best interests of shareholders, recommended that shareholders accept the offer. Prior to this, there were reports that Sinopec's bid was higher than Indian Oil & Natural Gas Corp.'s Bid. However, Oil & Natural Gas Corp. did not raise the offer.

Tanganyika Oil Company Ltd. is an international oil and gas exploration and production company with interests in exploration and development properties in Syria.

Its shares are publicly traded on the Toronto Stock Exchange under the symbol "TYK" and its Swedish Depository Receipts on the OMX Nordic Exchange Stockholm under the symbol "TYKS". Corporate headquarters are in Calgary, Alberta. The Company's technical office is located in Damascus, Syria.

Originally Posted: China Business Daily
Author: Angulo Fu


Thursday, September 25, 2008

US Financial Crisis Impact on China

Today, I received a letter form Marianne Wong who is a college student from Vancouver, BC, Canada. She is doing research topic on the impacts that the US Financial Crisis has on China. She want to find out more information and hope I can offer some useful information. The main body of my reply as follows:

On 22 September, China Construction Bank, CITIC Bank, Minsheng Bank disclosed the amount of bond of Lehman Brothers.

So far, there has been ICBC, Bank of China, Construction Bank, Bank of Communications, China Merchants Bank, CITIC Industrial Bank hold the assets of Lehman. The total bond is a level of about 7.2164 billion U.S. dollars.

However, the amount of bond holded by these banks held by the banks accounted for a very low percentage of their total assets, about less than 0.01 percent. In addition, because of China government principle, China's financial market is relatively closed, the globalization is less than other countries.

So, I think US financial crisis have a little impact on China.
If you are interested in this topic, please leave your opinions on the comments or contact Marianne directly. Her e-mail is Thank you!

Originally Posted: China Business Daily
Author: Angulo Fu


Wednesday, September 24, 2008

Buffett Bought Shares of Goldman Sachs 5 Billions U.S. Dollars

Warren BuffettGoldman Sachs said Tuesday, Warren Buffett's Berkshire Hathaway agreed to buy the stocks of Goldman Sachs, whose total aount is up to 5 billions U.S. dollars.

According to the report, Berkshire Hathaway will spend 5 billions dollars on Goldman Sachs long-term preferred stock, and the dividend is 10%. The company also received stock options, can buy 5 billions U.S. dollars of common stock in 115 U.S. dollars per share.

Originally Posted: China Business Daily
Author: Angulo Fu


Monday, September 22, 2008

Fourth-generation Honda Odyssey will Debut in October

2010 Honda OdysseyNamed after "Odyssey", a famous ancient Greek epic, the Honda Odyssey has made quite a good performance since launch of the first generation model in October 1994. Last year, Odyssey were sold 45,827, won the sales champion of the China MPV market. Now, this epic is about to open a new chapter. In October of this year, Honda will release the fourth-generation Odyssey.

It is reported that Odyssey 2009 would continue to use its the inside layout of 7 seats. And power system is still 2.4L in-line four-cylinder i-VTEC engine, but after re-teaching, the output of its power will up to 206 horsepower (151 kW), increased by as much as 46 horsepower.

In addition to the the new design of appearance and strengthening of motive force, the fourth generation of Odyssey will also be configured to achieve a breakthrough on high-tech. The official website also provids special promotional video. The development of a new Multi-View Camera System, relying on fish-eye CCD cameras which are equipped on front, rear and rear-view mirror, and through an electronic system ECU, integrate into a visual content, to provide a no-dead sight to the driver, as well as the simulation of a bird's eye view. When the vehicle go through the intersection, narrow roads and parking, making it more safe and convenient.

Originally Posted: China Business Daily
Author: Angulo Fu