BizChina

Loss-making Saab has veered toward collapse in recent weeks after running out of cash to pay its bills. Several suppliers stopped delivering parts, halting production at Saab's Trollhattan plant for most of last month.

Spyker Cars said on Tuesday Hawtai would invest 150 million euros ($222 million) in return for shares, providing funds that will enable Saab to pay overdue bills and resume production.

The move marks the second time a Chinese company has invested in a top Swedish car maker, and paves the way for the new Saab 9-3 model to be produced in China, starting in 2013.

Zhejiang Geely, the parent of Hong Kong-listed Geely Automobile Holdings (0175.HK), bought Saab's Swedish rival Volvo Cars from Ford Motor (F.N) last year for $1.3 billion in cash and a $200 million note issued to Ford.

India's Infosys Technologies Ltd. plans to invest $135 million over the years to build a new office in Shanghai, China, as the technology major seeks to strengthen its market share in outsourcing technology services.

"We will be one of the first global companies to set up a delivery center in Shanghai," Chief Executive S. Gopalakrishnan said during an analysts' conference call Monday.

The company's management was addressing analysts after unveiling a massive reorganization late last week that saw a non-Infosys founder--for the first time--named the chairman of the company and one of the co-founders named new chief executive.

Beijing Hainachuan Automotive Parts Co Ltd (Hainachuan) will acquire 100 percent of the stock of the Netherlands' Inalfa Roof Systems Group (IRS), China Business News reported Friday, citing an internal announcement from the Netherlands company's China office.

Beijing Automotive Industry Holding Co Ltd, which holds a 60 percent share in Hainachuan, will keep IRS's management team and its headquarters in the Netherlands, the newspaper reported.

China's largest search engine, Baidu, reported strong revenue and profit growth in the first quarter, driven by "solid traffic growth" and measures to generate more revenue from the company's sites.

Its search engine is already the default for 80 percent of Android phones in China. The company is now testing its own browser, and offers a beta version of its microblogging site as it pursues new opportunities in the country.

Baidu, which operates in a country with 457 million Internet users, reported on Thursday that net profits for the quarter ended March 31 were US$164 million, up by 123 percent from the same quarter last year. The company's revenue for the quarter was $372 million, up 88 percent from the same period last year.

The company expects revenue in the second quarter to be in the range of $493 million to $504 million, a year-on-year increase of up to 72.4 percent.