Online security software developer Qihoo 360 (NASDAQ: QIHU) was found guilty of defaming and forcefully uninstalling Kingsoft Corp's (HKG: 3888) Antivirus WebShield service. Qihoo 360 was ordered by a Chinese court to stop all acts of unfair competition, pay ¥300,000 in compensation to Kingsoft, and publish an explanation of its actions on its website for seven consecutive days.

PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857) aims to increase its overseas oil and gas reserves to 200 million tons making up half of its total reserves by 2015, said chairman Jiang Jiemin. Jiang said the company will build more storage and transport facilities in South America.

Trina Solar Ltd (NYSE: TSL) said it plans to lift its solar cell module capacity to 1.9GW this year to meet rising demand. The capacity was 1.6GW as of April 30, 2011.

$1 = ¥6.51

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