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Datang International Power invests US$576m in mainland's gas project

HONG KONG - Datang International Power, the Hong Kong-listed unit of the State-owned power generator China Datang, has said it would invest 3.93 billion yuan ($576 million) to set up a joint venture for a coal-based gas project in North China's coal-rich Inner Mongolia. In a ...

Datang Int'l Power invests 576 mln USD in mainland's gas project

HONG KONG, May 25 (Xinhua) -- Datang International Power, the Hong Kong-listed unit of the State-owned power generator China Datang, has said it would invest 3.93 billion yuan (576 million U. S. dollars) to set up a joint venture for a coal-based gas project in North China's coal...

PCM acquires GM's parts-supplier unit

Pacific Century Motors (PCM), a joint venture between Tempo Group and the Beijing municipal government, completed the acquisition of General Motors' steering-parts manufacturing unit on Tuesday, setting a record for the biggest single overseas purchase in China's automobile parts ...

Oil ends down 14 percent in May, Spain weighs

May 28-Fitch Ratings downgraded Spain's credit ratings by one notch on Friday, saying the country's economic recovery will be "more muted" than government forecasts due to austerity measures. The ratings downgrade pressured oil that had already retreated from a two-week high ...

Yanzhou Coal boosts its investment Down Under

Yanzhou Coal Mining Co Ltd, the third largest listed coal company in China, said it will increase the capital investment in its wholly-owned Yancoal Australia Pty Ltd by A$909 million ($917 million). The move will increase its total capital investment to A$973 million from A$64 ...

IPO numbers to level out

While 2010 marks an unusual year for China's sizzling initial public offerings (IPO), the number of IPOs will stabilize in 2011 - with more small companies expected to get listed and less funds raised, according to a PricewaterhouseCoopers (PwC) press conference Tuesday. PwC ...

Commodity Trends: No ban on cardamom futures

With open interest in cardamom futures surging, rumors of a ban on the contract also started circulating until Forward Markets Commission clarified that there would be no ban on cardamom futures. The excessive heating in the cardamom counter is borne by the rise in open interest ...

China Southern to buy 36 Airbus planes

China Southern, the country's largest airline, announced on Thursday that it had agreed to purchase 36 Airbus planes for 3.78 billion U.S. dollars from Airbus SNC, based in French city Toulouse. In a statement filed to the Hong Kong stock exchange, China Southern said it would ...

Commodity Trends: No ban on cardamom futures

With open interest in cardamom futures surging, rumors of a ban on the contract also started circulating until Forward Markets Commission clarified that there would be no ban on cardamom futures. The excessive heating in the cardamom counter is borne by the rise in open interest ...

Air China resumes flights to Europe

Air China, the nation's flagship international carrier, Tuesday announced the restoration of some services to Europe as air traffic controls imposed in the wake of a volcanic eruption in Iceland were eased over the continent. Flights from Beijing to Moscow, Stockholm and Rome had ...

China Qinfa to buy 2 bulk carriers for $69m

China Qinfa Group, a leading non- State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay $69 million for construction of two 82,000-DWT bulk carriers. In a statement filed to the Hong Kong stock exchange, China Qinfa said two of its ...

Store strategy lifts Gome's net

Closing underperforming stores helped Gome Electrical Appliances Holdings post a 35 percent gain in net profit in 2009, the retailer said yesterday. [More 2009 earnings releases] Net income rose to 1.4 billion yuan (US$207 million) from 1.1 billion yuan a year earlier, Gome said ...

Datang Renewable Debuts 1 pct Below IPO Price

China Datang Corporation Renewable Power, China's second biggest wind farm operator, officially listed on the Hong Kong stock exchange on Friday, with share price opening at 2.3 HK dollars, down 1.29 percent from its IPO price. As a subsidiary of the state-owned power generator ...

Gome sees profit jump as possible peace deal looms

Gome Electrical Appliances Holding Ltd, the China retailer seeking to end a dispute with its jailed founder over management control, said profit in the first nine months of the year surged 49 percent. Net income rose to 1.44 billion yuan ($217 million) in the year through Sept 30 ...

French department store to set up shop in Beijing

French premium department store chain Galeries Lafayette plans to tap into China's increasingly affluent consumer base by cooperating with Hong Kong-based fashion retailer I.T Limited to launch its first department store in Beijing. The planned opening, slated for around 2014, ...

Chinese molder Plastec to go public after GSME deal

Hong Kong-based electronics injection molder Plastec International Holdings Ltd. will go public on a U.S. stock exchange following a $73.4 million deal with a Cayman Islands-based holding company. Plastec was founded in 1993 and conducts business under the name Sun Line ...

Restructure to create retail giant

Shanghai Bailian Group, China's biggest retailer, has stepped up its corporate restructuring by merging its two listed department store operators. Shanghai Friendship Group Inc, in which Bailian Group holds a 27.3 percent stake, will merge with Shanghai Bailian Group Co Ltd ...

Air China subsidiary to buy 10 Airbus planes for $814m

Air China, the country's leading carrier, said late Friday that one of its subsidiary airlines would pay $814 million to buy 10 Airbus 320-series passenger planes. In a statement filed to the HK stock exchange, the Beijing-based carrier said its subsidiary, Shenzhen Airlines ...

China Southern to Buy 36 Airbus Planes for 3.78 billion USD

China Southern, the country's largest airline, announced on Thursday that it had agreed to purchase 36 Airbus planes for 3.78 billion U.S. dollars from Airbus SNC, based in French city Toulouse. In a statement filed to the Hong Kong stock exchange, China Southern said it would ...

Canada Rejects BHP Takeover of Potash Corp

Canadian Minister of Industry Tony Clement said here Wednesday that he invoked Canada's investment laws to turn down a bid by BHP Billiton to take over Potash Corp., the world's largest potash producer. "I have sent a notice to BHP Billiton, indicating that at this time I am not ...
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