A delegation of the Chinese city of Shenzhen, which will be the host of the 2011 Universiade, paid a visit to the Belgrade Chamber of Commerce (PKB) on Tuesday. The Chinese city officials wished to learn about Belgrade’s experience in organizing the sporting event in 2009.
Posts Tagged ‘Shenzhen’
DBS to take over some RBS banking businesses in China: Update
December 15th, 2010 |
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DBS Group Holdings, Southeast Asia’s biggest bank, said it will take over Royal Bank of Scotland Group Plc’s retail and commercial banking businesses in China.
RBS will transfer close to 25,000 clients in Shanghai, Beijing and Shenzhen to DBS China, Singapore-based DBS said in a statement today. DBS didn’t spend any money on the deal, Melvin Teo, chief executive officer of DBS China, said at a news conference in Shanghai.
DBS to take over some RBS banking businesses in China
December 15th, 2010 |
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DBS Group Holdings, Southeast Asia’s biggest bank, said it will take over Royal Bank of Scotland Group Plc.’s retail and commercial banking businesses in China.
RBS will transfer close to 25,000 clients in Shanghai, Beijing and Shenzhen to DBS China, Singapore-based DBS said in a statement today. DBS didn’t spend any money on the deal, Melvin Teo, chief executive officer of DBS China, said at a news conference in Shanghai.
DBS off 0.1%; RBS China buy deemed modest
December 15th, 2010 |
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DBS’ (D05.SG) acquisition of RBS’ China retail and commercial banking business is unlikely to have a material impact on its shares in the near-term.
The operations won’t be contributing to DBS soon with the deal expected to be completed within 6 months.
The impact upon completion may also be modest as DBS will get only about 25,000 customers from RBS, which is selling its operations in Shanghai, Beijing and Shenzhen.
DBS to take over RBS’ businesses in 3 China cities
December 15th, 2010 |
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DBS Group (DBSM.SI), Southeast Asia’s biggest lender, is taking over Royal Bank of Scotland’s (RBS.L) retail and commercial businesses in three Chinese cities, expanding its client-base in the world’s second-biggest economy.
The agreement will give 25,000 customers of the British bank in Shanghai, Beijing and Shenzhen the option to transfer their existing accounts and deposits to DBS China, the Singapore bank said in a statement.
DBS to take over RBS’s China retail, commercial bank businesses
December 15th, 2010 |
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DBS Group Holdings, Southeast Asia’s biggest bank, said it will take over Royal Bank of Scotland Group Plc.’s retail and commercial banking businesses in China.
RBS will transfer close to 25,000 clients in Shanghai, Beijing and Shenzhen to DBS China, Singapore-based DBS said in a statement on its website today. No amount was disclosed for the transaction, which is expected to be completed within six months.
DBS says to take over RBS’ China retail, commercial business
December 15th, 2010 |
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DBS Group (DBSM.SI), Southeast Asia’s biggest lender, said on Wednesday it will take over British bank RBS’s (RBS.L) retail and commercial business in three Chinese cities.
“DBS Bank and RBS today entered into an agreement to transfer RBS’ retail and commercial banking customer base, business portfolios and related employees in Shanghai, Beijing and Shenzhen to DBS China,” the Singapore bank said in a statement.
DBS China to take over RBS’s retail and commercial banking portfolios
December 15th, 2010 |
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DBS Bank and RBS today entered into an agreement to transfer RBS’ retail and commercial banking customer base, business portfolios and related employees in Shanghai, Beijing and Shenzhen to DBS China.
With this strategic agreement, DBS says close to 25,000 retail and commercial banking RBS customers in Shanghai, Beijing and Shenzhen will be given the option to transfer their existing accounts and deposits to DBS China.
Broadway Industrial Group says may have incurred $400,000 loss in Shenzhen factory fire
November 23rd, 2010 |
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Broadway Industrial Group says it may have suffered a loss of RMB 2 million ($400,000) as the result of the fire which broke out on the morning of Nov 19 out at its rented factory premises of its subsidiary, Shenzhen Broadway Total Packaging Solution Co., in Shenzhen, China.
But Broadway says the actual loss could be lower as the facility is covered by fire insurance and expects “minimal impact” to the company’s overall consolidated financials for the year ending Dec 31 2010.
Broadway says although there were no casualties caused by the fire and no serious damage to equipment and machinery, some stocks were damaged as the fire broke out in the storage area of the facility.
The affected customers have since been informed and the company has taken measures to ensure minimal disruption to its operations.
The cause of the fire is under investigation.
The company has eight foam plastic facilities in China, which serve a diversified base of multinational customers in the consumer electronics, automotive, construction and other industries.
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Intel Powers World’s Fastest Supercomputer
November 14th, 2010 |
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NEWS HIGHLIGHTS
- Tianhe-1A supercomputer, featuring more than 14,000 Intel® Xeon® 5600 series processors, is No. 1 supercomputer on 36th edition of Top500 list.
- Intel powers nearly 80 percent of systems on latest Top500 list, including four of the top six.
- Intel powers more than 90 percent of new systems on the Top500 list.
- Intel demonstrates applications powered by Intel® Many Integrated Core (MIC) architecture.
NEW ORLEANS, Nov. 14, 2010 – Intel Corporation today announced that its Intel® Xeon® 5600 series processors, announced earlier this year, are at the heart of the world’s most powerful supercomputer, the Tianhe-1A. Located at the National Supercomputing Center in Tianjin, China, Tianhe-1A contains 14,396 Intel processors accompanied by accelerator cards, and has demonstrated groundbreaking performance of 2.57 petaflops (quadrillions of calculations per second).
In partnership with Inspur, a computer manufacturer in China, Intel worked closely with the National Supercomputing Center and its technology partners to achieve this groundbreaking performance.
The 36th edition of the TOP500 list of supercomputers, as announced at SC10, Nov. 13-19 in New Orleans, shows that nearly 80 percent of the world’s top 500 systems have Intel processors inside. Such machines are increasingly featured in computers designed for geophysics, financial calculations and scientific research focusing on mainstream applications such as improving the safety of football players and enhancing medical imaging. According to the list, Intel chips now power four of the top six systems – in addition to the No. 1 system. Xeon® 5600 series processors are a key building block in the No. 3 system (Shenzhen), and the newly listed No. 4 system at the Tokyo Institute of Technology. The New Intel® Xeon® Processor 7500 series is featured in the Bull Supernode system at CEA, newly listed at No. 6. Overall, 398 new systems on the list feature Intel processors. According to the list, Intel processors are in 90 percent of the systems newly listed in 2010.
“Our Xeon processor roadmap continues to deliver hugely powerful supercomputers that are helping solve mankind’s greatest challenges,” said Rajeeb Hazra, general manager of Intel’s High Performance Computing organization. “Securing the top position on the Top500 is a source of great pride for Intel, and demonstrates the tremendous leaps in performance and versatility that our processors are delivering across a range of compelling workloads.”
Additional Top500 Success
In addition to the Tianjin supercomputer, 17,296 Intel chips power the No. 6 system on the list. The CEA system from Bull features the largest shared memory system built around the Xeon® 7500 series processor, achieving performance in excess of one petaflop.
Another notable supercomputer hails from the Tokyo Institute of Technology. Featuring Xeon® 5600 series processors within an NEC/HP system, this No. 4-ranked supercomputer achieved 2.4 petaflops.
The semi-annual TOP500 list of supercomputers is the work of Hans Meuer of the University of Mannheim, Erich Strohmaier and Horst Simon of the U.S. Department of Energy’s National Energy Research Scientific Computing Center, and Jack Dongarra of the University of Tennessee. The complete report is available at www.top500.org.
Intel® Many Integrated Core (MIC) Demonstrations
During SC10, Intel conducted demonstrations showcasing the real-world capabilities of the recently announced Intel® MIC architecture. These included using Intel® MIC architecture as a co-processor running financial derivative Monte Carlo demonstrations that boasted twice the performance of those conducted with prior generation technologies. The Monte Carlo application for Intel® MIC was generated using standard C++ code with an Intel® MIC-enabled version of the Intel® Parallel Studio XE 2011 software development tools, demonstrating how applications for standard Intel CPUs can scale to future Intel® MIC products.
Intel also showcased breakthrough compressed medical imaging developed with Mayo Clinic on “Knights Ferry,” the first Intel MIC design and development kits. This demonstration used compressed signals to rapidly create high-quality images, reducing the time a patient has to spend having an MRI.
About Intel
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.
Intel is a trademark of Intel Corporation in the United States and other countries.
* Other names and brands may be claimed as the property of others.
Sino Grandness flat; 3Q results impressive, says DMG
November 2nd, 2010 |
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Sino Grandness Food Industry (JS5.SG) off early highs, now flat at $0.420 after Shenzhen-based manufacturer, distributor of bottled juices, canned fruits, vegetables late yesterday says 3Q net profit +53.6% on year to RMB38.7 million ($7.5 million), revenue +49.9% on year at RMB191.9 million, primarily driven by rising orders for new beverage products.
Sino Grandness 3Q net profit surges 53.6% to $7.5m
November 1st, 2010 |
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Mainboard-listed Sino Grandness Food Industry Group, the Shenzhen based integrated manufacturer and distributor of bottled juices and canned fruits and vegetables, today reported that net profit attributable to equity holders for third quarter ended 30 September 2010 (3Q10) surged 53.6% to RMB38.7 million ($7.5 million) from RMB25.2 million a year ago. This was achieved on the back of a 49.9% increase in group revenue to approximately RMB191.9 million from RMB128.0 million, primarily driven by surging orders for its new beverage products comprising bottled juices and canned herbal drink.
Q & M Dental Group’s China unit acquire 49% of Shenzhen New Perfect Exact Dental …
October 18th, 2010 |
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Q & M Dental Group (Singapore) says unit Q & M Dental Group (China) has entered into a binding memorandum of understanding to set up a joint venture with the shareholders of Shenzhen New Perfect Exact Dental Research Co. (SZNP), Peng Hui Chang, Peng Jian Chang and Guo Yu Chun.
SZNP is a equity joint venture incorporated with investment from Taiwan, Hong Kong and Macau in China and focuses on the technology development, dental device materials research and the processing and manufacture of dental devices.
Bun fight
October 15th, 2010 |
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Why China needs more expensive burgers
A WEAK currency, despite its appeal to exporters and politicians, is no free lunch. But it can provide a cheap one. In China a McDonald’s Big Mac costs just 14.5 yuan on average in Beijing and Shenzhen, the equivalent of $2.18 at market exchange rates. In America the same burger averages $3.71. That makes China’s yuan one of the most undervalued currencies in our Big Mac index, which is based on the idea of purchasing-power parity. This says that a currency’s price should reflect the amount of goods and services it can buy. Since 14.5 yuan can buy as much burger as $3.71, a yuan should be worth $0.26 on the foreign-exchange market. At just $0.15, it is undervalued by about 40%. The tensions caused by currency misalignments prompted Brazil’s finance minister to complain last month that his country was a potential casualty of a “currency war”. The Swiss, who avoid most wars, are in the thick of this one. Their franc is the most expensive currency on our list.
More Daily charts …
Flextronics sees double digit growth this year: Update
August 26th, 2010 |
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Global contract manufacturer Flextronics (FLEX.O) sees continued double-digit revenue growth in the last two quarters this year, its chief executive said on Thursday, bolstered by strong PC sales.
A key supplier to top tech brands such as Hewlett-Packard (HPQ.N), Flextronics expects revenue from its PC manufacturing unit to double to US$2 billion ($2.7 million) this year and reach US$4 billion by the end of 2011, Mike McNamara told Reuters in an interview in the southern Chinese city of Shenzhen.
Flextronics sees double-digit revenue growth in 2010
August 26th, 2010 |
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Contract manufacturer Flextronics International (FLEX.O) expects to post double-digit revenue growth for the rest of the year, helped by a doubling in PC sales, its chief executive said today.
Revenue from its recently revamped PC manufacturing unit is expected to double to US$2 billion ($2.7 billion) this year, and will reach US$4 billion by the end of 2011, Flextronics Chief Executive Mike McNamara told Reuters in an interview in the southern Chinese city of Shenzhen.
Sino Grandness posts 86% rise in 1H net profit to $8.2m
August 13th, 2010 |
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Mainboard-listed Sino Grandness Food Industry Group, the Shenzhen based integrated manufacturer of canned fruits and vegetables today, announced for the first six months ended 30 June 2010 (1H2010), net profit attributable to shareholders jumped 85.8% to RMB40.9 million ($8.2 million) from RMB22.0 million in the same period last year (1H2009).
Earnings per share in 1H2010 was 16.6 RMB cents while net asset value per share as at 30 June 2010 was 126.2 RMB cents.
Abterra acquires 23% stake in Shanxi iron ore miner for $78m
August 7th, 2010 |
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Abterra, the supply chain manager of resources and minerals in Asia Pacific, says it has completed the acquisition of a 22.8% stake in Zuoquan Xinrui Metallurgy Mine Co. from Shenzhen Manfu Industrial Company for RMB390.5 million ($77.6 million).
Sino Grandness unit invests $30.5m in Hubei plant for canned products and beverages
July 15th, 2010 |
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Sino Grandness Food Industry Group says wholly-owned subsidiary Shenzhen Grandness Industry Groups Co. has entered into a cooperation agreement with Dang Yang municipal government of Hubei province to invest RMB 150 million ($30.5 million) in the building of a production plant for canned products and beverages.
The municipal government has agreed to provide assistance and support in land acquisition and infrastructure as well as necessary administrative services to facilitate the project.
Ascott wins contracts to manage serviced residence properties in Xi’an and Shenzhen
July 7th, 2010 |
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CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited, has secured contracts to manage two more serviced residence properties in Xi’an and Shenzhen.
Somerset Gaoxin, Xi’an, and Somerset Grandview, Shenzhen, are scheduled to open in 2012 and 2013 respectively.
When completed, the 233-unit Somerset Gaoxin, Xi’an and 128-unit Somerset Grandview, Shenzhen will offer a range of apartment types from studios to three- bedroom units, catering to the different lifestyle needs of both short- and long-stay travellers.