Date
19 November 2019

Business

  • Shenhua to buy 1 bln tons of Mongolian coal, Bloomberg says

    Oct 30, 2013 10:07am
    Three companies that mine coal in Mongolia’s Tavan Tolgoi basin have agreed to export 1 billion tons of the resource to China Shenhua Group in the next 20 years, Bloomberg News reported Wednesday, citing the chief...
  • CCB nearing deal to buy Brazil’s BicBanco, Bloomberg says

    Oct 30, 2013 9:53am
    China Construction Bank Corp. (CCB) (00939.HK) is close to reaching a deal to acquire Brazil’s Banco Industrial & Comercial SA, Bloomberg News reported Wednesday, citing a person with direct knowledge of the matter. BicBanco, as the Sao...
  • Australia upholds NBN ban on Huawei, Reuters says

    Oct 30, 2013 9:44am
    Australia’s new government is upholding a ban on China’s Huawei Technologies Co. Ltd. from bidding for work on the country’s US$38 billion National Broadband Network (NBN), Reuters reported Tuesday, citing the nation’s attorney-general. The former Labor government...
  • Central bank sets RMB midpoint softer at 6.1412

    Oct 30, 2013 9:42am
    The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1412 Wednesday, 39 pips weaker than the 6.1373 fixing on Tuesday, according to the China Foreign Exchange Trade System. The renminbi...
  • Dining website ‘duped’ over McDonald’s promos, paper says

    Oct 30, 2013 9:42am
    Dianping.com, a restaurant review website, will report to the police that it has been deceived by an unnamed counterparty into selling non-existing McDonald’s promotional meals, resulting in a loss of 2.2 million yuan (US$359,420) to the website, Shanghai...
  • Honeywell aims to ride China refining boom, paper says

    Oct 30, 2013 9:35am
    Honeywell International Inc said its planned new plant in China will be able to support the boom in the country’s oil refining industry in the long term, Shanghai Daily reported on Wednesday. Located in the port city...
  • China tightens rules to promote breast feeding, Xinhua says

    Oct 30, 2013 9:12am
    The Chinese government has tightened rules on producers of infant formula to promote the use of breast feeding, Xinhua news agency reported Wednesday, citing a notice released jointly by the Food and Drug Administration, the health...
  • ‘Small properties’ may be turned into commodity housing

    Oct 30, 2013 9:09am
    In China’s housing market, there is a gray area called “small properties”, structures which are illegal in the strict sense but still can be found almost everywhere across the country. The word “small” does not pertain...
  • Minsheng Bank finds a blue ocean in Hainan

    Oct 30, 2013 8:56am
    China Minsheng Bank’s (01988.HK, 600016.CN) huge lending plan in Hainan represents one more example of how the nimble financial institution tries to steer away from the beaten track to create tailor-made products based on the needs...
  • CITIC Bank’s net profit up 13% in Jan-Sept, filing says

    Oct 30, 2013 8:49am
    China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN) said in a regulatory filing on Wednesday its net profit for the nine months to September rose 13.35 percent to 30.86 billion yuan (US$5.07 billion) from a year earlier,...
  • Sinopec 3Q net profit up 21.56%, filing says

    Oct 30, 2013 8:46am
    China Petroleum & Chemical Corp. (Sinopec) (00386.HK, 600028.CN) posted a 21.56 percent year-on-year increase in net profit for the third quarter to reach 22.18 billion yuan (US$3.64 billion), according to a regulatory filing late Tuesday. Revenue...
  • Beijing targets full switch to cleaner power by 2017, paper says

    Oct 30, 2013 8:38am
    Beijing aims to meet all the city’s power needs with cleaner energy in five years from 2013 in a fresh move to fight air pollution, Beijing Daily reported Wednesday, citing a municipal government plan. All coal-fired...
  • Beijing tightens rules on land bidding, paper says

    Oct 30, 2013 8:32am
    The Beijing government has tightened rules on land auctions to speed up payments from property developers, the Beijing Business News reported Wednesday, citing a notice on the government website. Under the new rules which took effect from...
  • Tesla’s rumored entry-level model may take on BYD’s e6

    Oct 30, 2013 8:31am
    Rumor has it that US carmaker Tesla Motors (TSLA.US) is moving at swift pace to develop the first entry-level version of its popular electric sedan.   If the speculation turns out correct, the new model — dubbed variously...
  • China Merchants’ Jan-Sept net profit up 13.55%, filing says

    Oct 30, 2013 8:25am
    China Merchants Bank Co., Ltd. (03968.HK, 600036.CN) said in an exchange filing on Wednesday that its net profit for the nine months to September rose 13.55 percent year on year to 39.498 billion yuan (US$6.483 billion), while revenue...
  • Court upholds IDC payout to Huawei over monopoly, Xinhua says

    Oct 30, 2013 7:48am
    A court in Guangdong province has ordered US firm InterDigital Communications (IDC) to pay Chinese technology giant Huawei 20 million yuan (US$3.26 million) in compensation for monopolistic practices, Xinhua news agency reported Tuesday. In the final verdict...
  • ICBC sees good performance in noble metal trade, paper says

    Oct 30, 2013 7:44am
    Industrial and Commercial Bank of China Ltd. (01398.HK, 601398.CN) saw its noble metal trade exceed 1 trillion yuan ($164.3 billion) in the three quarters to September, achieving its best performance in four years, China Daily reported...
  • 400 orders for homegrown C919 aircraft, paper says

    Oct 30, 2013 7:44am
    Commercial Aircraft Corp of China Ltd. has notched up 400 orders for its C919, the first China-made large passenger aircraft, with Industrial Bank Financial Leasing Co. Ltd. signing a contract for 20 on Monday, China Daily...
  • China to invest 10 bln yuan on islands restoration, govt says

    Oct 30, 2013 7:41am
    China’s State Oceanic Administration has started an island restoration plan that involves total investment of more than 10 billion yuan (US$1.63 billion) in the next five years, according to information posted on the government’s website Wednesday....
  • Window still open for Alibaba listing in Hong Kong, HKEJ says

    Oct 30, 2013 7:35am
    The Hong Kong stock exchange is studying whether to allow more voting rights for the same shareholding, leaving room for e-commerce giant Alibaba Group Holdings Ltd. to list in the city, the Hong Kong Economic Journal...