Date
28 January 2020

Business

  • China Power cuts provincial on-grid prices, filing says

    Oct 11, 2013 7:04am
    China Power International Development Ltd. (02380.HK) has cut on-grid power prices in its wholly owned or controlled thermal power plants in several provinces, it said in a regulatory filing Thursday. The adjustments are retroactive to Sept....
  • Huge outstanding payment casts shadow over Hanergy Solar

    Oct 11, 2013 7:02am
    Hanergy Solar Group Ltd. (00566.HK) took a dip on Thursday after the provider of turnkey solutions for production of thin-film silicon solar modules disclosed that its controlling shareholder is still HK$2.09 billion (US$268 million) in arrears to the company....
  • Alibaba invests in Amazon rival, WSJ says

    Oct 11, 2013 6:45am
    Alibaba Group Holding Ltd. has led a US$206 million investment in a rival to Amazon.com Inc. as the Chinese e-commerce giant considers an initial public offering in the United States, the Wall Street Journal reported Thursday. Alibaba...
  • Foxconn increases Dragon stake, filing says

    Oct 11, 2013 6:37am
    S.A.S. Dragon Holdings Ltd. (01184.HK) said Taiwan’s Foxconn Holding Ltd. has bought 1.6 million shares of the company from another major shareholder, Chung Shun Ming, off the market. The price was not disclosed. Foxconn increased its stake...
  • Tencent revamps India, Thailand businesses, filing says

    Oct 11, 2013 6:31am
    Tencent Holdings Ltd. (00700.HK) has agreed to restructure its India and Thailand operations with its partner, MIH Group, it said in a regulatory filing Thursday. After the revamp, Tencent will own 80.1 of the social network business of...
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    MTel on the move for China’s mobile market

    - Oct 11, 2013 6:00am
    Hong Kong app firm Mobile Telecom Network Holdings Ltd. (MTel) (08266.HK) is jumping on the mainland bandwagon to get a share of the potential profits in the country’s huge growing pool of smartphone users. “Hong Kong...
  • Alibaba did not apply for HK IPO, statement says

    Oct 10, 2013 7:19pm
    Chinese e-commerce giant Alibaba Group Holding Ltd. said it did not submit an A-1 listing application to the Hong Kong stock exchange, and has never proposed dual-class shareholding nor a repudiation of the “one share, one...
  • HK companies’ 2013 overseas M&As to reach US$24 bln, PwC says

    Oct 10, 2013 5:54pm
    The value of overseas acquisitions by Hong Kong companies is expected to be on par with the US$24.3 billion level reached last year as the US tapers its bond purchases, PricewaterhouseCoopers Ltd. (PwC) said Thursday. The professional...
  • China, Europe to open 350 bln yuan currency swap line, PBoC says

    Oct 10, 2013 5:32pm
    The People’s Bank of China (PBoC) and the European Central Bank (ECB) have agreed to establish a bilateral currency swap line, according to a statement posted on the Chinese central bank’s website on Thursday. The swap...
  • Shuanghui puts frozen pork on front burner to heat up margins

    - Oct 10, 2013 2:19pm
    Shuanghui International Holdings Ltd. (000858.CN), China’s largest meat processing firm, plans to beef up profit margins with a stronger focus on frozen pork, having completed its takeover of Smithfield Foods Inc., a top manager said in...
  • Shanghai exchange denies intl board launch in FTZ, website says

    Oct 10, 2013 1:44pm
    The Shanghai Stock Exchange denied media reports that an international board will be launched in the city’s newly established free trade zone (FTZ), Shanghai Securities News reported Thursday on its website, citing an unnamed stock exchange...
  • Danone, Fonterra in talks over compensation, paper says

    Oct 10, 2013 12:52pm
    Danone S.A. and Fonterra Cooperative Group Ltd. are in talks about compensation relating to the latter’s recall of dairy products in the wake of a health scare, National Business Daily reported Thursday. Danone is seeking 200 million euros...
  • China Shipbuilding’s Jan-Sep new orders up 150%, paper says

    Oct 10, 2013 12:47pm
    China Shipbuilding Industry Co., Ltd. (601989.CN) said Thursday that the value of new contracts signed in the nine months to September rose by 148.77 percent year on year to 89.195 billion yuan (US$14.57 billion), the China...
  • PBoC injects net 33 bln yuan into money market

    Oct 10, 2013 12:13pm
    China’s central bank injected a net 33 billion yuan (US$5.4 billion) into the interbank market this week, easing liquidity conditions after the weeklong National Day holiday. The People’s Bank of China sold 48 billion yuan of...
  • Oil majors press overseas forays amid rising yuan

    Oct 10, 2013 12:12pm
    There’s more to the renminbi than being a world reserve currency of the future. In the global energy market, the future is here and now. Thanks to the renminbi’s strength, state-owned behemoths Sinopec (00386.HK, 600028.CN), CNOOC (00883.HK)...
  • Beijing residential plot supply to exceed target, paper says

    Oct 10, 2013 11:57am
    Beijing’s Bureau of Land and Resources has made available 1,093 hectares of land to the capital city’s property market as of the end of September, the Beijing Daily reported Thursday. Of these plots, 835 hectares were...
  • ZTE aims to top Philippine smartphone market, Xinhua says

    Oct 10, 2013 11:55am
    Chinese phone maker ZTE Corp. aims to dominate the Philippine smartphone market with affordable handsets in the next three years, Xinhua reported Wednesday. If it achieves the goal, ZTE could relocate some of its manufacturing to...
  • Transport ministry eyes port reform, paper says

    Oct 10, 2013 10:22am
    The Ministry of Transport is set to reform port management and boost cooperation between concerned parties, Economic Information Daily reported Thursday, citing sources from the China Ports Association. The ministry will consider scrapping unified rates in response...
  • KWG Property September pre-sales up 25.8%, filing says

    Oct 10, 2013 10:08am
    Guangzhou-based developer KWG Property Holding Ltd. (01813.HK) said its pre-sales rose 25.8 percent to 1.54 billion yuan (US$251.62 million) in September from a month earlier. In the first nine months, pre-sales were 11.93 billion yuan, up...
  • Corn prices set to tumble amid increased imports, Xinhua says

    Oct 10, 2013 10:06am
    China’s corn production is expected to top 215 million metric tons in 2013, a record high, the official Xinhua news agency reported Wednesday, citing the State Administration of Grain Information Center and China National Association of Grain...