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Hong Kong stocks closed at 19,522 on Wednesday, down 350.30 points, or 1.76 percent. Turnover fell to HK$53.38 billion ($6.89 billion) from Tuesday's HK$54.75 billion ($7.07 billion). Source: BizChina
China's Geely Automotive has submitted the only concrete bid so far for Ford Motor-owned carmaker Volvo Car Corp, a Swedish business newspaper reported, citing an undisclosed source. The US carmaker put money-losing Volvo Cars up for sale in December last year in order to cut costs and raise cash in the face of plunging industry-wide auto sales. The firm...
Foreign insurers are less optimistic than a year ago on expanding their presence in the Chinese market as regulatory restrictions and the robust expansion of domestic peers may stifle growth, according to a recent survey by accounting firm PricewaterhouseCoopers (PwC). Foreign insurers expect their share in the Chinese life insurance market to grow to jus...
China is to raise the prices of gasoline and diesel by 300 yuan ($44.12) a ton, or about 4 percent each, from Sept 2, the country's top economic planning agency said late Tuesday. The retail price of gasoline will increase by 0.22 yuan a liter, and diesel will increase by 0.26 yuan a liter, said the National Development and Reform Commission (NDRC). Th...
Sina Corp, China's biggest Internet portal, forecast a record quarterly sales drop, citing a "challenging" online advertising market. The company projected yesterday third-quarter sales will drop as much as 14 percent to $91 million, missing the $96 million median of nine analyst estimates compiled by Bloomberg. The sales outlook is below what Shanghai...
Chinese mining firm Jinchuan has acquired 70 percent stake in Tiomin Kenya Limited (TKL) in a bid to revive the titanium mining project located in Kenya's coastal region. A statement from the Canada-based mining firm, Tiomin, received in Nairobi Wednesday, said Jinchuan acquired the controlling equity interest in Tiomin Kenya, a wholly owned subsidiary o...
The central government will release a batch of policies to promote regional development in the near future, according to Fan Hengshan, head of the regional economy department of the National Development and Reform Commission (NDRC), the 21st Century Business Herald reported. The plans include choosing regions with better conditions and lifting the most de...
The 18th Urumqi Trade Fair, China's only business event targeting central, west and south Asia, opened Tuesday, nearly two months after a riot in the city. The trade fair has attracted more than 500 overseas businessmen from 29 countries and regions, including Russia, Kazakhstan and Uzbekistan. It also attracted many business people from 21 inland provin...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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