Baosteel Group, parent of China's largest steelmaker, Baoshan Iron and Steel Co<600019>, has secured approval from Chinese regulators to buy into Australian miner Aquila Resources Ltd, sources reported. Baosteel has proposed to buy up to a 15% stake in Aquila for A$285.6 million. Upon the completion of the...
The People's Bank of China issued RMB 95 billion in 28-day repurchase agreements with a coupon rate of 1.18% in the regular open-market operations this morning, according to a statement published on the PBOC's website.The bank also issued RMB 18 billion in one-year bills in the regular open-market...
TCL Corp<000100>, a major Chinese TV and mobile phone manufacturer, and Shenzhen Century Science & Technology Investment Co Ltd yesterday jointly announced a plan to build an 8.5-generation liquid crystal display panel plant in Shenzhen, a key city in Guangdong Province, sources reported.The two...
Sina Corp<SINA>, which operates the largest web portal in China, said its net profit for the third quarter of this year was US$16.7 million, up 25% from a quarter earlier.The Nasdaq-listed company said in its quarterly report that its net revenue rose 7% from a quarter earlier to US$96.4 million, and that diluted...
Huawei Technologies Co Ltd, a major telecom equipment vendor in China, overtook Nokia Siemens as the second-largest provider in the global mobile network equipment market in the third quarter, Reuters reported.According to a report released by a research firm Dell'Oro Group, Ericsson continues to lead the...
BNP Paribas Asset Management, a subsidiary of BNP Paribas, recently cut its H-share holding in Chongqing Iron & Steel Co Ltd<601005><1053> to 4.84% from the previous 5.25%, according to the bourse operator Hong Kong Exchanges and Clearing<0388>.Information from the HKEx showed that BNP...
COFCO Dalian Rice Processing Ltd, a subsidiary of COFCO Group, China's largest food manufacturer and trader, over the weekend launched production at a rice processing plant in Dayaowan Port, Dalian, a key city in Liaoning Province, sources reported.The new plant, which is the only rice processing facility...
CITIC Pacific Ltd<0267>, the Hong Kong-listed arm of China's biggest state-owned investment conglomerate CITIC Group, has inked preliminary sales agreements with some Chinese steelmakers to sell them iron ore products in its US$4-billion project in Australia, sources reported.Barry Fitzgerald, CEO...
Parkson Retail Group Ltd<3368>, a Beijing-based department store chain controlled by Malaysia's Lion Group, said its net profit rose 5.7% from RMB 190.3 million a year earlier to RMB 201.1 million in the third quarter of this year boosted by strong sales volume.In the quarter ended Sept. 30, Parkson's total revenue...
China COSCO Holdings Co Ltd<601919><1919>, the fifth-largest container terminal operator in the world, is likely to post loss for 2009 after reporting RMB 5.31 billion in net loss during the first three quarters of this year, said the company in a statement on Thursday.The loss mainly resulted from the weak demand...