Two of the Mainland's largest shipping companies, China Shipping Container Lines (Asia) and China Ocean Shipping (COSCO), plan to sell about US$350m in debt, the Standard of Hong Kong reported, citing bankers familiar with the deals. China Shipping Container Lines, a unit of Hong Kong-listed China Shipping Container Lines, has arranged to borrow US$100m to […]
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Temasek to buy BoC stake
Temasek Holdings, the investment arm of Singapore's government, is in talks with the Bank of China to buy a stake in the state-owned lender that could be worth more than US$1bn, the Financial Times reported, citing unnamed people familiar with the talks. Temasek may become one of BoC's strategic investors alongside the Royal Bank of […]
Taiwan yesterday called for more talks with the Mainland on as many as 20 subjects, most of which are non-political, The South China Morning Post reported quoting Joseph Wu Jau-shieh, head of the Mainland Affairs Council, Taiwan's top mainland policy-planning body. The appeal follows another last week for the Mainland to discuss chartered passenger and […]
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Baidu shares soar on debut
Baidu, China's largest Internet search engine, had the best US stock debut seen in more than five years, with its American depositary shares soaring 354% to US$122.54 on the NASDAQ on Friday, from its offer price of US$27. The Chinese company, which has an estimated net income of US$1.5m for the three months ended in […]
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China's trade surplus to drop
China's trade surplus will likely drop to US$30bn in the second half of this year from US$39.6bn in the first six months, state media reported, citing the State Information Centre. An appreciation in the nation's currency and a slowing of growth in the global economy and in foreign investment would curb China's foreign trade, the […]