L'Oreal puts in an offer to buy Magic Holdings Ltd for US$840 million. L'Oreal recently made an US$840 million-dollar offer to purchase Magic Holdings International Ltd.
Tags: China
China launches new pharmaceutical bribery probe
China launched a fresh three-month slate to intensify its probe against rampant bribery in the medical services and pharmaceutical sectors in the country, according to the official Xinhua news agency.
China eyes big industries in price probes
China’s National Development and Reform Commission or NDRC planned to examine big industries such as petroleum, banking, auto and telecommunications as part of its ongoing investigations on anti-trust violations in the country.
China to simplify investment rules to attract foreign investment
In accordance with the new free trade zones, China planned to simply its legislation to attract foreign strategic and financial investors.
China plans to loosen rules on foreign investment on free trade zones
China announced its plans of easing laws for foreign investors in its free trade zones. China has planned to ease laws on foreign investment in the country's new free trade zones.
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Shanghai Securities News said the Ministry of Public Security and a cabinet-level research center of China were preparing to investigate on EMC Corp, IBM Corp and Oracle Corp over security concerns.
Lenovo Group said the corporation is currently evolving as a wireless computing supplier due to the booming sales of smartphones and tablets.
Chad indefinitely suspended China's CNPC oil operations in the country. All drilling activities by China National Petroleum Corporation's subsidiary in the Republic of Chad were indefinitely suspended.
Foxconn Technology Group's second quarter earnings report showed a boost of 40.8% due to strong iPhone sales and reduced costs by building factories in China.
Tencent upgraded WeChat as the Chinese company hoped to boost its revenue through addictive games on mobile devices.
Xinhua reported that French drugmaker Sanofi had become the focus of bribery investigations by Chinese authorities.
A private survey revealed that China's PMI for the services sector showed signs of growth. The HSBC/Markit Purchasing Managers' Index (PMI) survey for the services sector in China showed signs of improvement.
Canalys told Bloomberg that Apple's market share in China plunged to just 5% during the second quarter, down from last year's 9%.
The Smartphone-like network of switches would be offered by Huawei in October to boost its market share and challenge its rival, Cisco.
