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HKMA pumps

Business | Macro-economy and policy
2008-12-24

THE Hong Kong Monetary Authority added HK$2.33 billion (US$300 million) to the financial system yesterday to prevent the city's currency from strengthening beyond its fixed exchange-rate band. The move will take...

Textron cuts Q4 outlook and jobs

Business | Airlines and airports
2008-12-24

TEXTRON Inc, which makes Cessna jets, Bell helicopters and E-Z-GO golf carts, on Monday cut its fourth-quarter outlook amid the deteriorating economy and said it is exiting nearly all of its commercial finance business...

Aer Lingus vows profit as it resists takeover bid

Business | Airlines and airports
2008-12-24

IRISH airline Aer Lingus Group Plc pledged to make a small profit in 2008 and 2009 as it set out its defense against the 750-million-euro (US$1 billion) takeover bid from Ryanair Holdings Plc. Aer Lingus, already...

Nanhui to host jumbo project

Business | Airlines and airports
2008-12-24

CHINA'S largest aerospace company plans to produce sample engine parts for the country's jumbo jet project in 2017 and 2018 in Shanghai's Nanhui District. The Aviation Industry Corp of China and the Shanghai...

Regional airlines toget help in slowdown

Business | Airlines and airports
2008-12-24

HNA Group, a shareholder in Hainan Airlines, has received 500 million yuan (US$73 million) from the Tianjin government as part of the country's support for the aviation industry. Grand China Express, a Tianjin-based...

Tie-up deal

Business | Airlines and airports
2008-12-24

CHINA Payment and Remittance Service Co yesterday teamed up with Shandong Airlines to facilitate the e-payment of air tickets. The airline will use China PnR's expertise to boost ticketing online.

Shaw Brothers (Hong Kong) Offer sends shares soaring

Business | Advertisement/media
2008-12-24

SHAW Brothers (Hong Kong) Ltd rose by a record in Hong Kong trading after its largest stockholder made a HK$1.33 billion (US$172 million) offer to buy out the company. Shaw Brothers climbed 56 percent to close...

Bailout for Premiere after share sale nod

Business | Advertisement/media
2008-12-24

PREMIERE AG, Germany's biggest pay-TV company, was bailed out by shareholder News Corp after agreeing to a 450-million-euro (US$628 million) share sale, allowing it to renegotiate terms on 525 million euros of debt. ...

Circuit City gets approval for US$1.1b to sustain operations

Business | Retail
2008-12-24

CIRCUIT City Stores Inc, America's second-biggest electronics retailer, received final approval on Monday for US$1.1 billion in financing in order to keep operating while it is under bankruptcy protection. United...

Price drop of 30% to boost sales

Business | Retail
2008-12-24

SUNING Appliance Co said yesterday it will team up with suppliers to lower prices by up to 30 percent in Shanghai during the holiday season as part of its move to boost sales. Suning, the country's No. 2 electronics...