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BEIJING, March 28 (Xinhuanet) -- Google Inc. is working with MasterCard Inc. and Citigroup Inc to develop a technology that could make mobile payments, according to media reports Monday.The new technology named "Nexus S Android" is embedded in Android mobile devices and allows customers to make purchases by waving their smartphones in front of a small reader at the checkout counter.Credit-card reader producer VeriFone Systems Inc, also involved in the new payment service, is developing contact-less devices that could allow people to pay with a wave or tap of credit card or a tap of smartphone.To use the service, holders of Citigroup-issued debit and credit cards must activate a mobile-payment application developed for one current model of Android phones. More models will be coming as the technology advances.Besides mobile payment, consumers would also be able to get targeted ads or discount offers, manage credit-card accounts and track spending through an application on their smartphones.Due to the deliberate design of the technology, customers have no need to worry about the security of their payment information. Nick Holland, a mobile-transactions analyst at Yankee Group, said the new technology is more sophisticated than credit cards with a magnetic stripe.With the coming service, Google is aiming to boost its advertising business by offering retailers more data about their customers and help them target ads and discount offers to mobile-device users near their stores.An insider told that Google was not expected to get a cut of the transaction fees.The service is expected to be released this year. Once released, it will broaden the uses of smartphones for everyday activities—from chatting to emailing to shopping.

SAN FRANCISCO, April 22 (Xinhua) - Amazon's web-services disruption issues have not been completely resolved Friday morning, as some websites still in slow recovery.Amazon said in an update early Friday that meaningful progress has been made and is expected to continue over the next few hours.Reddit, a social news website, said on its homepage that "we are slowly getting our capacity back," and users may be able to log in if lucky. Some sites appeared to have recovered, including location-based social networking site Foursquare and HootSuite, an online brand management and social websites monitoring service.Amazon has not released the number of companies which have been disrupted by the outage and when the web-services will fully recover.The outage highlights risks of relying on public cloud service. Security and reliability have been experts' concerns on public could web-hosting service. Many Internet startups have been relying on the service to bring their costs down.Elastic Compute Cloud (EC2) is a central part of Amazon's cloud computing platform Amazon Web Services. It allows users to rent virtual computers on which to run their own computer applications. The European Space Agency, PBS and Ericsson are all among its cloud service customers.According to Amazon's Service Health Dashboard, errors began at 1:41 a.m. PDT Thursday in its datacenter in northern Virginia, saying "instance connectivity, latency and error rates."

BEIJING, Feb.14 (Xinhua) - Shanghai General Motors Co. will recall 2,806 imported Cadillac CTS vehicles in China to repair faulty track bars to prevent safety risks, China's quality watchdog said on Monday.The recall, which is set to begin on March 21, includes models that were produced between June 16, 2008 and April 20, 2009, the General Administration of Quality Supervision, Inspection and Quarantine said in a statement on its website.The statement said that the company would repair or replace the rear suspension track bars of the recalled vehicles because some nuts on the bars are likely to loosen and cause worn screw threads.This could lead to a loosened track bar under extreme conditions, which is unsafe when traveling fast, it said.The company is to contact car owners to provide free checks and repairs. Owners may also contact the automaker on its free phone service (telephone number: 8008201902) for more information and to make appointments.

BEIJING, Feb. 17 (Xinhua) -- China's new rules for reviewing proposed mergers and acquisition (M&A) deals by foreign firms on grounds of national security would benefit both Chinese and foreign investors, a Ministry of Commerce (MOC) spokesman said Thursday.The rules will facilitate the growth of foreign-invested enterprises (FIEs) in China and improve the quality and structure of foreign direct investment (FDI) flowing into China, MOC spokesman Yao Jian said at a press conference.The move also marked an improving legal environment for the security of China's business sector along with its opening-up drive, given that M&A by FIEs will increasingly become a trend in the coming years, Yao said."The adoption of the rules in China will also increase policy transparency and improve law-based government administration," said Yao.Yao's words came after the State Council, China's Cabinet, announced last Saturday that it was establishing a panel to check whether M&A deals struck by foreign firms in the country endanger national security.The panel will review attempts by FIEs to buy or merge with domestic companies whose business pertains to national defence, agriculture, energy, resources, key infrastructure, transport systems, key technology sectors and important equipment manufacturing industries, according to a statement published on the central government's website www.gov.cn.The review will be conducted by a foreign investment security review board under the cabinet, members of which come from the National Development and Reform Commission (NDRC), the MOC and other agencies.The new regulations, which take effect in March, come at a time when China is expected to see more M&A deals struck by foreign firms.Currently, inward M&A accounts for about 3 percent of China's total FDI, a sharp contrast with the global average level of more than 70 percent, said Yao. "M&A by FIEs will become a major trend in China."China's taking in FDI through more M&A will promote industrial consolidation and restructuring, and it will also mean more efficient utilization of the existing resources, he said."As the share of M&A in the FDI will probably rise from the current 3 percent to 8 percent, 10 percent or even more, it is necessary to timely formulate China's own rules governing foreign takeovers in line with international standards," Yao said.In April 2010, the State Council said in a statement that foreign investment should be allowed to be more diversified and foreign investors encouraged to participate in the consolidation and restructuring of domestic firms via equity holdings or acquisitions.He Manqing, a researcher with the Chinese Academy of International Trade and Economic Cooperation of the MOC, said "It is right and proper to impose regulations and requirements on proposed M&A deals in the sectors of strategic importance and those involving national security.""The introduction of the regulations conforms to the new trend in China's receiving of FDI and indicates that China's regulations on FDI are becoming more mature," said He.The NDRC said Wednesday that national security scrutiny would only occur when foreign companies take a majority stake in a domestic M&A deal, meaning that a minority stake purchase will not trigger a review."The new rules draw references from similar rules in the United States, Germany and Canada," the NDRC said in a statement on its website.The NDRC also said that the new regulations were in line with World Trade Organization rules and did not imply that China had changed its policies on opening up and attracting FDI.China's FDI jumped 23.4 percent in January to 10.03 billion U.S. dollars, said Yao. The monthly growth rate was up from December's 15.6 percent.As the world's top investment destination, China received a total of 105.74 billion U.S dollars in FDI in 2010, up 17.4 percent year on year, the MOC said last month.

BEIJING, March 6 (Xinhua) -- China aims to "basically eradicate poverty" by 2020 while greatly raise its poverty line, in order to help more people in need, Chinese Premier Wen Jiabao said here Sunday.The State Council is drafting a new ten-year poverty-reduction plan (2011-2020), in which the current poverty line of 1,196 yuan per year (about 0.5 U.S. dollars a day) will be greatly raised, Wen told a panel meeting of the ongoing session of the National People's Congress (NPC).The nation will intensify its poverty alleviation efforts through aids and development, focusing on large areas of destitute population, he said to a group of NPC deputies from Gansu, one of the poorest regions in China.According to the United Nations' standard of one dollar per person each day, China still has 150 million people under the poverty line.Wen said lack of water was the bottleneck for Gansu's social-economic development, urging the province to expand the use of water conservancy technology.Wen also urged the province to coordinate economic development with environmental protection, and reverse environmental degradation in Dunhuang, a historical city with world cultural heritage threatened by decertification.