BizChina
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India's Infosys Technologies Ltd. plans to invest $135 million over the years to build a new office in Shanghai, China, as the technology major seeks to strengthen its market share in outsourcing technology services.
"We will be one of the first global companies to set up a delivery center in Shanghai," Chief Executive S. Gopalakrishnan said during an analysts' conference call Monday.
The company's management was addressing analysts after unveiling a massive reorganization late last week that saw a non-Infosys founder--for the first time--named the chairman of the company and one of the co-founders named new chief executive.
Read more: Infosys to Invest $135 Million on Shanghai Office
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Beijing Hainachuan Automotive Parts Co Ltd (Hainachuan) will acquire 100 percent of the stock of the Netherlands' Inalfa Roof Systems Group (IRS), China Business News reported Friday, citing an internal announcement from the Netherlands company's China office.
Beijing Automotive Industry Holding Co Ltd, which holds a 60 percent share in Hainachuan, will keep IRS's management team and its headquarters in the Netherlands, the newspaper reported.
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China's largest search engine, Baidu, reported strong revenue and profit growth in the first quarter, driven by "solid traffic growth" and measures to generate more revenue from the company's sites.
Its search engine is already the default for 80 percent of Android phones in China. The company is now testing its own browser, and offers a beta version of its microblogging site as it pursues new opportunities in the country.
Baidu, which operates in a country with 457 million Internet users, reported on Thursday that net profits for the quarter ended March 31 were US$164 million, up by 123 percent from the same quarter last year. The company's revenue for the quarter was $372 million, up 88 percent from the same period last year.
The company expects revenue in the second quarter to be in the range of $493 million to $504 million, a year-on-year increase of up to 72.4 percent.
Read more: China's Baidu Revenue, Profits up on Strong Traffic Growth
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Hiring expectations in Hong Kong and China continued to rise in the second quarter because of optimism over the two economies, according to a survey by recruitment agency Hudson Highland Group Inc. this week.
Of the survey’s respondents in China, 77% said they plan to increase their staff in the three months ending June 30, up from 72% in the previous quarter.
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Toyota Motor Co announced it will cut 50 to 70 percent of production in China, Sina.com reported Thursday.
The production cuts are due to insufficient supply of parts caused by the devastating earthquake and tsunami in Japan. Toyota, the world's largest automaker, said the production cut will last until June 5.
China is the third largest production base for Toyota, with factories mainly located in Tianjin, Guangzhou and Sichuan.
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