iPhone Deal Looms for China Mobile
Apple Inc (Nasdaq: AAPL) is close to sealing an iPhone deal with China Mobile Ltd (NYSE: CHL, HKG: 0941), the world's biggest wireless carrier by subscribers. Unwiredview.com posted an ad showing the iPhone 5s and 5c compatible with China Mobile's self-developed 3G and 4G networks, which have held back China Mobile from reaching an iPhone deal. It was reported that the iPhone 5s represented 91% of the new iPhone sales in China during the first 3 days of release. Apple chief executive Tim Cook said earlier this year that China would soon overtake the US as the tech giant's largest market.
CNOOC to Spend $2 Billion Developing Ugandan Oilfield
CNOOC Ltd (NYSE: CEO, HKG: 0883), China's biggest offshore energy explorer, said it has won regulatory approval from the Ugandan government to develop the African country's Kingfisher oilfield, which is estimated to reserve 635 million barrels of oil. The block is expected to become operational in the next 3 to 4 years, with a daily crude oil output of 40,000 barrels. CNOOC reportedly plans to invest $2 billion developing Kingfisher oilfield.
Bosideng Plans UK Expansion
Bosideng International Holdings Ltd (HKG: 3998), a Chinese menswear maker, is planning further expansion in the UK, Inside Retail Asia reported. Opening its first store in London in July 2012, Bosideng is going to to spread its presence through shop-in-shop at department stores by pairing up with a local retailer, its CEO for British operations Wayne Zhu said, adding that the company is in talks with several potential partners. The London store has been performing strongly with sales up 50% year on year over the past two months, according to Zhu. Bosideng also plans to expand into the US. It currently operates 11,000 stores in its home market of China.
You are currently reading
total words in this article.
To continue reading this article, you must be a subscriber. Log in now..