It’s finally Friday, and a perfect time to kick back and warm up with a nice highball of Polonius whisky … you know, the one that’s packaged to look like Johnnie Walker Black Label. You may be able to get a good deal on a bottle – yesterday, a Shanghai court ruled in favor of Diageo, the maker of Johnnie Walker, in an IPR case and awarded the company US$183,000. There were rulings on the same day on a number of other IPR cases involving foreign firms. If you were enjoying your drink from a high-rise in Shanghai’s Lujiazui financial district, you may have a good view of construction beginning on the 120-floor Shanghai Tower this weekend. The US$2.16 billion project, to be finished in 2014, will be China’s tallest.
And since Shanghai’s air is clear today, you may even be able to catch a glimpse of the Shanghai Stock Exchange building, where stocks posted a slight gain yesterday following the announcement of China’s largest interest rate cut in 11 years. Property developers, steel makers and cement makers all fared well. Shares of electronics retailer Gome weren’t trading, however, having been suspended since Monday, as police confirmed that the company’s chairman Huang Guangyu was under investigation for involvement in economic crimes. Shares of China Eastern Airlines were also suspended yesterday, but likely because the carrier would soon receive a capital injection from Beijing. Rival carrier China Southern got its US$439 injection from Beijing yesterday.
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