SHANGHAI (Reuters) – The U.S. audit watchdog expects an agreement with China later this year that will allow greater transparency of Chinese companies listed in the United States, its chairman told Reuters on Thursday.

Worries over accounting practices of some Chinese firms has been mounting among U.S. investors and has been cited as a reason for a plunge in shares of Chinese social networking site Renren following its initial public offering earlier this month.

SHANGHAI, May 19 (Reuters) – The U.S. audit watchdog expects
an agreement with China later this year that will allow greater
transparency of Chinese companies listed in the United States,
its chairman told Reuters on Thursday.

Worries over accounting practices of some Chinese firms has
been mounting among U.S. investors and has been cited as a
reason for a plunge in shares of Chinese social networking site
Renren following its initial public offering earlier
this month.

SHANGHAI (Reuters) – China’s yuan will one day play a major role as a global reserve currency, although the U.S. dollar will remain an important currency, European Council President Herman Van Rompuy said on Wednesday.

“We live in a multi-polar world and a multi-currency world more and more, and that’s the case for the rise of the euro as a reserve currency. The dollar stays as an important currency,” Van Rompuy said during a visit to a Shanghai business school.

SHANGHAI, May 18 (Reuters) – China’s yuan will one day play
a major role as a global reserve currency, although the U.S.
dollar will remain an important currency, European Council
President Herman Van Rompuy said on Wednesday.

“We live in a multi-polar world and a multi-currency world
more and more, and that’s the case for the rise of the euro as a
reserve currency. The dollar stays as an important currency,”
Van Rompuy said during a visit to a Shanghai business school.

SHANGHAI, May 18 (Reuters) – PopCap Games Inc, the maker of
popular smartphone and Facebook games “Bejeweled” and “Plants vs
Zombies”, could list as early as November, it chief executive
David Roberts said on Wednesday.

“We are very much in the process of preparing a listing. We
expect to be ready to be listed as early as November this year,”
Roberts told reporters at a news conference.

LONDON/SHANGHAI (Reuters) – Darren Hosie knows all the best bars on Shanghai’s historic Bund.

There’s the Bar Rouge with its flaming drinks, house music and turbocharged hedonism; M on the Bund which channels 1930s sophistication; and Lounge 18 whose expensive wood panelling and wall to ceiling glass windows exude a more modern glamour.

SHANGHAI, May 16 (Reuters) – Yahoo Inc and Alibaba
Group will find it difficult to resolve their feud over the
Chinese company’s transfer of a major Internet asset, raising
questions over how long its troubled marriage would last.

Yahoo shares have fallen 11 percent since Tuesday
when the U.S. Internet company said Alibaba had restructured
Alipay, an online e-commerce payment system similar to eBay
Inc’s PayPal, to Alibaba Chief Executive Officer Jack
Ma.

SINGAPORE/BANGALORE (Reuters) – China’s Sina Corp plans to ramp up investment in its hot Twitter-like product, Weibo, for the rest of the year in order to fend off competition from Tencent Holdings and attract a wider user base.

Sina, which has seen its stock soar on investor hopes that Weibo will be monetized sooner rather than later, reported a 39 percent decline in quarterly net profit after it invested heavily in the platform.

SINGAPORE/HONG KONG, May 12 (Reuters) – China’s Alibaba.com
Ltd reported a forecast-beating 37 percent rise in
quarterly net profit even though subscribers for one of its key
products fell sharply.

China’s largest e-commerce company raised the price of its
popular ‘China Gold Supplier’ package in January, leading to a
drop in membership sign-ups in the first quarter.

SINGAPORE/BANGALORE, May 12 (Reuters) – China’s Sina Corp
plans to ramp up investment in its hot Twitter-like
product, Weibo, for the rest of the year in order to fend off
competition from Tencent Holdings and attract a wider
user base.

Sina, which has seen its stock soar on investor hopes that
Weibo will be monetized sooner rather than later, reported a 39
percent profit in quarterly net profit after it invested heavily
in the platform.