Editor's Picks

Seal of cooperation

Business
2011-11-12

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Prices for new homes in Beijing drop 5.1%

Business | Real estate
2011-11-12

PRICES for new residential apartments in Beijing fell 5.1 percent year on year in the first 10 months of 2011, as authorities' measures to cool the sizzling property market took hold. The Beijing Real Estate Association...

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Home Prices Slip To Lowest

Business
2011-11-12

HONG Kong's home prices slid to the lowest in more than six months last week as the threat of an economic recession continues to dent buyer sentiment, according to the city's biggest privately held realtor. Prices...

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HK skirts recession in Q3

Business | Economy
2011-11-12

HONG Kong's economy grew 0.1 percent in the third quarter from the previous three months as low unemployment and tourists from the Chinese mainland boosted consumption while Europe's crisis dragged on exports. ...

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Latest iPhone a sellout in HK

Business | IT
2011-11-12

APPLE'S latest mobile phone, the iPhone 4S, sold out in just one morning in Hong Kong yesterday. The Apple store started selling the phone at 7am, and announced it was sold out at 11:30am. Some scalpers began...

Index closes flat despite positive news

Business | Securities
2011-11-12

REBOUNDING external markets and rising property shares failed to spark the Shanghai stock market, which ended flat yesterday, on concern Sinochem Corp's initial public offering will divert funds from other equities. ...

New yuan loans post highest

Business | Banking
2011-11-12

NEW yuan loans in China rose to the highest in four months in October, while the bad loan ratio dropped at the end of the third quarter from nine months ago, official data showed yesterday. Economists attributed...

Citi China's income rises 30%

Business | Banking
2011-11-12

CITI China yesterday said it has seen a 30 percent increase in its revenue in the past year from helping Chinese companies do business overseas as they expand their presence globally in recent years. From 2005...

Liquidation possible

Business | Automobile
2011-11-12

SWEDISH Automobile NV, the Dutch owner of Saab Automobile, may liquidate even if it succeeds in selling the former General Motors Co brand, as the proceeds may not be enough to pay off creditors. Swedish Automobile,...

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Oil price flirts with US$100 per barrel

Business | Energy
2011-11-12

THE price of oil is flirting with US$100 per barrel for the first time since the summer, as fears fade that Europe's debt crisis will spread and trigger another recession. Yesterday's benchmark crude rose US$1.21...

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Stocks surge as Italy, Greece allay debt fears

Business | Securities
2011-11-12

STOCKS surged yesterday, erasing their losses for the week, after Italy and Greece moved closer to getting their financial crises under control. The Dow Jones industrial average jumped back above 12,000. Italy's...

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Expand options

Business | Trade
2011-11-12

CHINA will expand the options market to let firms sell yuan options, instead of limiting them to only buying the contracts, the State Administration of Foreign Exchange said yesterday. Exporters and importers will...

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Probe confirmed

Business | Lawsuits and scandals
2011-11-12

SINO-FOREST Corp yesterday confirmed the Canadian police have begun a criminal probe to determine if the Chinese timber firm defrauded investors. Sino-Forest is cooperating with the Ontario Securities Commission...

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Sinopec's 2nd Brazilian deal signals asset buying spree

Business | Energy
2011-11-12

CHINA Petrochemical Corp will pay US$3.54 billion for a 30 percent stake in the Brazilian unit of Portuguese oil company Galp Energia SGPS SA in its latest move to acquire energy assets in Latin America. China's...

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HSBC injects capital into flagship bank

Business | Banking
2011-11-12

HSBC has replenished capital to its flagship bank in China to help it expand further in the world's second-biggest economy and cement its commitment to the important market. HSBC Bank (China) Co yesterday said...

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Air China to start wireless-enabled flights

Business | Aviation
2011-11-11

CHINESE passengers will be able to surf on a wireless Local Area Network on Air China flights starting next Tuesday as the airline successfully tested its Wi-Fi service today. A Boeing 737-800 plane conducted an...

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Stocks rise slightly on positive news

Business | Securities
2011-11-11

SHANGHAI'S stock market rose slightly today, boosted by positive global news and rising property shares after the central bank recognized the role of private lenders. The Shanghai Composite Index edged up 0.06...

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Sinopec to buy 30% stake in Galp Brazil

Business
2011-11-11

CHINA Petrochemical Corp agreed to buy a 30 percent stake in the Brazilian unit of Portuguese oil company Galp Energia SGPS SA for US$3.54 billion -- the latest move in China's bid to acquire energy assets in Latin...

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'Super Single's Day' promotions spark online shopping sales boom

Business | Retail
2011-11-11

A DOZEN of online shopping websites launched massive sales promotions to cash in on today's "Super Single's Day" celebration. 360buy.com offered discounts of up to 90 percent for some consumer electronics models. ...

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Stocks rise as pension funds may enter equity markets

Business | Securities
2011-11-11

THE Shanghai stock market rose in the morning session today, recouping some losses form the past two days after a senior official said the nation might allow pension funds to invest in capital markets. The Shanghai...

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Oil price rises to near US$98 per barrel

Business | Energy
2011-11-11

OIL prices jumped more than 2 percent yesterday as investors cheered political shake-ups in Greece and Italy, and layoffs appeared to be easing in the US. Benchmark crude rose US$2.04, or 2.1 percent, to finish...

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Progress in Italy, Greece on debt sends stocks up

Business | Securities
2011-11-11

SIGNS of progress in Europe's debt crisis and an unexpected drop in unemployment claims pushed stocks higher yesterday, a day after the stock market took its worst fall since the summer. Greece named a new prime...

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Export growth slows amid worsening climate

Business | Trade
2011-11-11

CHINA'S exports grew at the slowest pace in eight months in October amid a worsening global economic climate, a stronger yuan and rising protectionism, adding pressure for the world's second-largest economy to adjust...

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Private lending may get its official chance

Business | Economy
2011-11-11

PRIVATE lenders may soon come out from the gray zone as China for first time will legalize private lending to increase financial support for the agriculture sector and smaller enterprises, a central bank official said...