Chunghwa Picture Tubes Ltd., Taiwan’s third-biggest maker of liquid-crystal displays, is cutting its LCD output by 10 percent this month and next, after posting its lowest gross margin in a year amid a supply glut.
The Taoyuan, Taiwan-based company reported yesterday net income of NT$1.02 billion, or 11 NT cents a share, for the second quarter. [...]
Shareholders of Perth-based Cape Lambert Iron Ore Ltd has finally approved to sell an undeveloped iron ore project to China Metallurgical Group Corporation (CMC) for A$400 million, sources reported.
The project is located in the Pilbara region of Western Australia, which is the most important mining base of iron ore in the country.
Tags: iron-ore, Sinosteel, steel-maker
Huaxia Bank Co. Ltd, a Shanghai-listed private commercial lender part-owned by Deutsche Bank AG, announced Tuesday it has received initial approval from the China Securities Regulatory Commission (CSRC) for its private placement plan.
The medium-sized lender said in March it will issue RMB 11.588 billion worth of new shares to its three biggest shareholders, including steelmaker [...]
ABC-CA Fund Management Co. Ltd has raised RMB 5.2 billion (US$762 million) for its first mutual fund as of Jul. 25, according to a source familiar with the situation.
The stock-oriented fund was launched on Jun. 30 this year and ABC-CA aims to raise more than RMB 6 billion for the mutual fund by Jul. 30. [...]
China Power International Development Ltd, a Hong Kong-listed arm of state-owned China Power Investment Corp, has obtained a total credit of US$100 million from BOC Hong Kong (Holdings) Ltd and BOC’s several overseas branches, sources said.
Li Xiaolin, chairman of China Power International, said at a press briefing this round of financing, which started from late [...]
Shanghai’s key stock index dropped today as coal producers paced the decline on expectations a decline in the price of crude oil will reduce demand for the alternative fuel.
The Shanghai Composite Index lost 0.48 percent, or 13.64 points, to 2,836.67 at 3pm.
Losers in the Shanghai market outnumbered gainers 496 to 317 while 15 did not [...]
