The China National Offshore Oil Company (CNOOC; CEO.NYSE) reported that first-half profits surged 51.4% year-on-year to US$5.16 billion, state media reported. The country’s largest offshore oil producer reported a 12.9% increase in production, boosted by new oilfields coming online. Earnings per share were US$0.14, and a pretax dividend of US$0.03 per share was proposed. The […]
Category: Investment
China’s Ministry of Railways (MoR) plans to issue up to US$15.6 billion in corporate bonds by the end of the year, an increase over last year’s US$12.5 billion, Reuters reported, citing three anonymous sources. MoR, one of China’s largest borrowers on the bond market, has already issued short-term notes this year, but it is preparing […]
China’s Ministry of Commerce (MofCom) said it will try to implement regulations allowing foreign direct investment (FDI) into China using renminbi as early as September, state media reported. Capital controls currently restrict the flow of renminbi into and out of China. The regulations would provide a channel for renminbi funds acquired overseas through cross-border trade […]
Bank of China (3988.HK) reported a 28% increase in first-half profits, along with a 0.1% decrease in non-performing loans (NPLs), Bloomberg reported. The nation’s third-largest lender earned US$10.4 billion in net income, in line with analysts’ estimates. Nevertheless, the stock is down 27% this year on fears that the bank’s relatively rapid growth relative to […]
US markets seem bent on teaching investors the meaning of volatility. August marked the only time in history that the Dow Jones Industrial Average swung more than 400 points in either direction for four straight days. It has now fallen nearly 9% since the beginning of the month. Most stocks are getting pummeled, but there […]