From the EuoropeanVoice.com: It looks like Greece will be all right. After years of denial and budget blow-outs that left the country’s public finance in a dire mess, it was announced after the summit of EU leaders on 11...
From Xinhua via People’s Daily online : China’s CITIC Securities Co. is to cancel a deal to buy into Bear Stearns after news that the fifth largest investment bank in the United States is to be bought out by JPMorgan...
From Financial Times : China Mobile , the world’s largest mobile phone operator, is weighing up an expansion in Europe. The group, which opens its European, Middle Eastern and African headquarters in London on Thursday, aims to...
From Caijing.com.cn: Based on the chorus of opposition in Washington, the proposed buyout of U.S. communications networking company 3Com seems even more unsettling to the American public than China National Offshore Oil Corp.’s attempted purchase of California-based Unocal – a deal that collapsed two years ago under pressure from the U.S. Congress. 3Com’s proposed sale […]
From Business Report: State policy lender China Development Bank on Wednesday denied reports that it is involved in the purchase of a stake in mining company Rio Tinto . “There’s no matter like this,” Yang Hua, a spokeswoman at the Chinese policy bank said. The German daily newspaper Handelsblatt wrote in an advance copy of […]
From The Financial Times: Hong Kong’s trains are among the most reliable in the world. Comments by Chinese premier Wen Jiabao , however, suggest that the so-called “through-train”, a mechanism to let the ocean of funds trapped in China by capital controls flow into and through Hong Kong, will be indefinitely delayed. It is a […]
From Reuters via inquirer.net: Chinese banks need to be on high alert to international financial market risks, the country’s top banking regulator said in remarks published on Tuesday. Traditional business dealings and long-term corporate investment were being replaced with “high-risk and high-return short-term speculation”, said Liu Mingkang, chairman of the China Banking Regulatory Commission . […]
From Reuters via yahoo.com: China will push its banks to forge deeper into overseas markets for acquisitions and a global profile, a top bank regulator said on Sunday. “We will encourage Chinese banks to go abroad to participate in international competition and overseas acquisitions to improve global competitiveness,” Wang Zhaoxing, assistant chairman of the China […]
From Financial Times: Chinese companies are set to be Asia’s most acquisitive in the US or Europe next year, according to a survey of the region’s dealmakers. Nearly 60 per cent of those polled believe mainland Chinese companies will outstrip rivals in countries such as India and Japan in outbound merger and acquisitions activity in […]
From AFP via Business Report: Industrial and Commercial Bank of China , the nation’s top lender, said it was not worried by US subprime troubles, as mortgage-backed securities were a tiny percentage of its assets. Subprime-related mortgage-backed securities amount to $1.23 billion, or 4.32 percent of the bank’s total foreign currency fixed income investments, Bank […]
From Financial Times: Chinese state lenders, including the Bank of China, are expected to announce losses from their exposure to the US subprime lending market when they release their first-half results in the coming weeks. But the exposure of China, both in terms of the government’s hundreds of billions of dollars of US dollar holdings […]
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