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Pavel Durov, the founder of VKontakte, Russia's largest social network, said on Tuesday he was fired and had fled the country as allies of the Kremlin gained full control of the site.
Known as Russia's answer to Facebook, VKontakte (VK) has been the focus of an ownership battle since last April, when the United Capital Partners (UCP) fund bought 48 percent of the company's shares.
China will allow private investment in 80 projects spanning the energy, information and infrastructure sectors as part of reforms to increase privatization, Premier Li Keqiang said on Wednesday.
The 80 projects involving solar energy, hydro power, wind power, and oil and gas pipelines, previously areas monopolized by the state, will be open to public tender, Li said.
In future, other sectors such as utilities, airports and oil and gas exploration will also be open to more private investment, he told a weekly cabinet meeting.
China's environmental authority has lifted a ban on new approvals for refining projects for the country's top two oil firms, Sinopec Group said, potentially freeing up billions of dollars of investment to meet rising domestic demand. Last August, the Ministry of Environmental Protection (MEP) for China – the world's No.2 consumer of oil – said it would not approve environmental impact assessments submitted by Sinopec and China National Petroleum Corp (CNPC) after they failed to meet 2012 pollution targets.
China’s newest smartphone maker, OnePlus, unveiled its first-ever flagship phone in Beijing today at a price equal to Xiaomi’s flagship Mi3 in China, RMB 2,000 (US$330) for the 16GB version and RMB 2,300 (US$368) for the 64GB. The phone officially goes on sale in China on May 28 on JD and Yixun. The international version of the OnePlus will be even cheaper, retailing at just $299. Moreover, it’s shipping to Western markets that Xiaomi hasn’t dared touch yet
KFC parent Yum Brands Inc (YUM.N) on Tuesday said first-quarter sales at established restaurants in China, its top market, rose 9 percent as it recovers from an avian flu outbreak and a food safety scare that pummeled demand for chicken last year.
Shares in the company, which gets more than half of its sales from China, rose 3.8 percent in after-hours trade to $80.40.
Yum's restaurant sales in China included an increase of 11 percent at KFC and a rise of 8 percent at Pizza Hut Casual Dining.
“Olympic Babies are Coming,” read a headline in Beijing News on Wednesday. With about 10,000 more children than usual born in Beijing in 2008, a year considered by many to be lucky both for the number eight and for being the year that China hosted the Olympic Games, the state is scrambling to find enough school spaces for 6-year-olds as they head to first grade this fall.
China Mobile’s new frenemy? It appears to be Tencent, China’s biggest Internet giant.
While the world’s largest mobile carrier is using Tencent’s popular mobile instant messaging and social platforms WeChat and QQ to promote the use of its high-speed mobile data services, the growing use of the Internet giant’s free voice and text messaging apps is also hurting China Mobile’s earnings.
The chief executive of the Chinese network and handset supplier Huawei says that last year's Snowden revelations about the extent of western government surveillance have been "good and bad" for business.
Speaking at a global analyst summit in Shenzhen, China, where the company has its headquarters, Eric Xu said that the stories published in the Guardian and other papers "did not have a big impact on business growth" but that it had affected its relationships with its potential partners in mobile networks around the world.
The tensions between Hong Kong residents and mainland Chinese visitors are bubbling up yet again — with a video showing a confrontation involving a mainland family whose child was videotaped urinating on a busy street.
But this time, the video has stirred a backlash from mainland Chinese angered by the treatment of the well-dressed young couple, raising questions about whether animosity directed at cross-border visitors has gone too far.
RIGZONE - China Pollution Watchdog Lifts Ban on New Sinopec, CNPC Projects
RIGZONE News - leading source for the latest news and information for the oil and gas industry
Snowden revelations have been 'good and bad' for business, says Huawei CEO
Chinese networking and handset company says that network security is an increasingly important topic
OnePlus One is a Xiaomi killer, set to launch in 15 countries next...
China's newest smartphone maker, OnePlus, unveiled its first-ever flagship phone in Beijing today at an equal price point to for China, RMB
Backlash Over Hong Kong's Treatment of Mainland Visitors
A video of a confrontation on a Hong Kong street is raising questions of whether the harsh treatment of mainland visitors has gone too far.
Weebly Valued at $455 Million Amid Website-Building Boom - Digits - WSJ
Weebly has been valued at $455 million by investors eager to cash in on a recent boom in website-creation services.
China Mobile Profit Drops as Costs Rise With IPhone Release
China Mobile Ltd., the world’s largest phone company by users, posted its third straight drop in quarterly profit as expenses for subsidizin
After Declaring War on Smog, China Gets Around to Updating Its Environme...
Because the proposed law would give more power to cash-strapped local officials to impose fines on polluters, it might have some teeth
Chinese Shoemakers Are on Strike for Benefits — But Who Will Foot the Bi...
When workers at a major footwear factory in south China walked off the job earlier this month, demanding better social insurance benefits, t
Bankers in Hong Kong Join Fight Against Mainland Influence
Several dozen members of Hong Kong’s financial class hope more of their number will join Occupy Central, which plans protests demanding unfe
Pork Giant WH Group Slashes IPO, Delays Pricing on Lack of Demand-IFR
China's WH Group Ltd, the world's biggest pork company, is slashing its proposed Hong Kong initial public offering and delaying pricing of t
Air China pilots demand equal pay in open letter｜Society｜News｜WantChinaT...
Pilots of Air China's Airbus A330 have demanded in an open letter that their pay be raised to the equivalent of that earned by foreign pilot
Bribed Shenzhen Officials Made RMB 3.5M by Selling Hukou Quota
Two Shenzhen personnel officials have been implicated in a kickback scandal in which hukous were siphoned off to an illegal third-party agen
Investigated by China’s Leaders, Powerful Family Has a Defender: Its Hom...
As China pursues a graft investigation against the family of Zhou Yongkang, a former Communist Party official, the family is finding support
Why a freely convertible Yuan is needed fast – Paul Gillis | China Speak...
I suspect that Chukong is actually burning cash in its VIE. That would make sense, since 89% of revenues and presumably most of the business