Scrolling Text :
You are here: Home > Work Progress > Top News of Multinational Corporations
Work Progress
Media Focus on Multinational Corporations [2017.8.31]

Global leading professional services firm Aon Hewitt announced its 2017 Best Employers in China award on Tuesday, with 14companies winning the title this year. The winners are AIA China, Baxter (China) Investment, Becton Dickinson Medical Devices, CIFI Group, HNA Holding Group, Infinitus, McDonald's China, MSD China, Novartis Group China, Shanghai Disney Resort, Starbucks China, Taikang Pension & Insurance, The Ritz-CarltonHotels China, and Wanhua Chemical Group. (chinadaily.com.cn)

 

State-owned rail builder and engineering company China Communications Construction Company saw an uptick in its net profit in the first half of 2017. The company also vowed to promote the transfer of equity interests in its subsidiary company, though it was not included in the pilot mixed-ownership reform scheme. (China Daily)

 

Hong Kong listed Fosun International Limited registered a record high net profit of 5.86 billion yuan ($889 million)for the first half of 2017, up 33.6 percent year-on-year. According to its interim results announced on Wednesday, Fosun International's total revenue increased 11.6 percent from a year earlier to reach 36.27 billion yuan in the first fiscal half of this year which ended on June 30. With an ongoing capital structure optimization, the company's cash flow surged by 50 percent and net debt went down by 14.9 percent. (chinadaily.com.cn)

 

Samsung Electronics Co. signed agreement Wednesday with the government of northwest China's Shaanxi Province to expand its chip production capacity there. Samsung will inject an initial investment of 7 billion U.S. dollars into the second phase of its chip plant in Xi'an, capital of Shaanxi, which will primarily produce advanced flash memory chips. (Xinhua)

 

China Evergrande Group, the developer targeted by short sellers this year for its high debt levels, resumed a run of share-price gains after reporting a surge in profit and announcing a shift to alow-debt strategy. The nominal price of the shares rose by 11.84 percent in Hong Kong on Tuesday to HK$25.5 ($3.26). (chinadaily.com.cn)

 

Diageo, the world's largest producer of spirits and a key producer of beer, has appointed beer giant AB InBev to become the exclusive distributor in the Chinese mainland of Guinness, Diageo's blackbeer, eyeing fast expansion of sales in the market. The distribution agreement will last for a five-year term, subject to performance criteria, and will cover both the on and off-trade channels in the mainland, according to a joint announcement on Monday. The two parties expect sales volume will grow 100 percent from the current 1 million liters to 2 million liters within one year. (China Daily)

 

Agricultural Bank of China (ABC), one of the country's biggest lenders, reported higher earnings growth Wednesday thanks to steady increase of net interest income. The company's net profit attributable to equity holders rose 3.3 percent year on year to 108.6 billion yuan (about 16.4 billion U.S. dollars) in the first six months (H1), as calculated underthe international financial reporting standards, according to a statement filed on the Hong Kong Stock Exchange. (Xinhua)

 

McDonald's, the U.S. fast food chain, terminated its franchise agreement on Monday for 169 outlets in India. The termination will see closure of the company's restaurants in north and east India. The Indian unit of McDonald's said on Monday that it has ended the pact with Connaught Plaza Restaurants Private Limited (CPRL), after it breached terms relating to some restaurants. (Xinhua)

 



 
Friendly Links more>>