Melanie's Feed
Nov 16, 2011

Foreign institutions flock to China’s social network

SHANGHAI, Nov 16 (Reuters) – What do the International
Monetary Fund, Louis Vuitton and Unilever have in common?

They are the among a clutch of Westerns institutions to join
Weibo, China’s most popular microblogging platform operated by
Sina Corp, which has quickly become the place to be to
promote, lobby and win over a large, important audience.

Nov 9, 2011

Tencent reports 13.6 pct rise in Q3 net profit

Nov 9 (Reuters) – Tencent Holdings Ltd , China’s
biggest Internet company by revenue, reported its slowest profit
growth in four years, missing analysts’ estimates on softer
growth in its casual games and lower margins due to increased
investments.

Tencent posted a 13.6 percent rise in third-quarter net
profit to 2.45 billion yuan ($386 million), missing analysts’
forecast of 2.63 billion yuan. After accounting for currency
losses and net losses from changes in the value of financial
assets, Tencent booked a profit of 1.94 billion yuan.

Nov 9, 2011

Sina swings to Q3 loss, cautious on 2012 ad spend

By Melanie Lee

(Reuters) – Sina Corp, the operator of China’s largest Internet portal, swung to a third-quarter loss due to hefty writedowns on investments in two online businesses, and said it does not expect a significant increase in advertising spending next year.

China’s online advertising market grew 54.9 percent in the third quarter to 13.7 billion yuan ($2.2 billion) with Sina ranking fourth in the overall market behind Google China, Taobao and Baidu, according to Beijing-based consultancy iResearch.

Nov 9, 2011

Sina swings to Q3 loss, cautious on 2012 ad spend outlook

Nov 9 (Reuters) – Sina Corp , the operator of
China’s largest Internet portal, swung to a third-quarter loss
on steep investment losses and said it doesn’t expect a
significant increase in advertising spending next year.

The company, which runs the Weibo microblogging platform
with more than 250 million users, is turning itself into a
full-fledged social networking site, pitting itself against the
likes of Kaixin001 and Renren .

Oct 30, 2011

WPP sees China as second-largest market in 2-4 years

SHANGHAI (Reuters) – WPP Llc (WPP.L: Quote, Profile, Research, Stock Buzz), the world’s largest advertising company, sees China overtaking Britain as its second biggest market in two to four years, its chief executive said on Sunday.

The company, which last week cut its 2011 outlook due to slowing growth in the United States and the euro zone debt crisis, has been making a string of small acquisitions and investments in China.

Oct 28, 2011

Baidu sees strong Q4 sales driven by ad spend

By Melanie Lee and Alexei Oreskovic

(Reuters)- Top Chinese search engine Baidu Inc forecast strong sales that topped Wall Street estimates, after reporting robust quarterly earnings, shrugging off concerns that a weak economy could hit advertisers.

Baidu said spending by large customers was significantly better than it expected in the third quarter and its 80 percent rise in quarterly net profit was driven by spending by online retailers.

Oct 28, 2011

Baidu sees strong Q4 sales driven by ad spend, shares rise

Oct 28 (Reuters)- Top Chinese search engine Baidu Inc
forecast strong sales that topped Wall Street
estimates, after reporting robust quarterly earnings, shrugging
off concerns that a weak economy could hit advertisers.

Baidu said spending by large customers was significantly
better than it expected in the third quarter and its 80 percent
rise in quarterly net profit was driven by spending by online
retailers.

Oct 27, 2011

Infosys says seeks acquisitions worth up to $700 mln

SHANGHAI, Oct 27 (Reuters) – Infosys Ltd , India’s
No.2 software services exporter,
is looking for acquisitions worth up to $700 million, Infosys’
Executive Co-Chairman Kris Gopalakrishnan said on Thursday.

Infosys has been on the hunt for acquisitions in the
healthcare and life science sectors and is looking at firms that
have platforms or niches in geographies that its lacks.

Oct 26, 2011

Imax eyes big screen profits from China

SHANGHAI (Reuters) – Giant movie screen maker Imax Corp expects the number of Imax screens in China to more than double in the next two to three years as disposable incomes rise and more Chinese movies are made for the format, its chief executive said on Wednesday.

Imax, which will have 85 screens in mainland China by the end of 2011, will see that number rise to 200 in two to three years, Chief Executive Officer Richard Gelfond told Reuters.

Oct 26, 2011

China vows stricter controls on social media

BEIJING/SHANGHAI (Reuters) – China will intensify controls of online social media and instant messaging tools, the ruling Communist Party said in an agenda-setting document that marks the government’s highest-level reaction so far to the explosive growth of microblogs.

Beijing’s vow to strengthen Internet administration and promote content acceptable to the ruling party appeared in the communique of a recent party leadership conclave published in the official People’s Daily on Wednesday.