Editor's Picks

Opel seeks US$2.1b state aid

Business | Automobile
2010-2-10

GENERAL Motors unit Opel has asked Germany for 1.5 billion euros (US$2.05 billion) in state aid to help fund a restructuring plan, including an 11-bil...

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Steel mills face huge pressure

Business | Metallurgical industry
2010-2-10

RISING prices of imported iron ore as well as other higher costs could put "huge pressure" on domestic steel makers and lead to higher steel prices this year, said China's steel industry association. The domestic...

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City seeks balance in investment expansion

Business | Foreign investment
2010-2-10

SHANGHAI aims to maintain a "moderate" foreign investment growth this year as well as encourage local companies to go global, a senior government official said yesterday. The Shanghai Municipal Commission of Commerce...

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CIC buys US$9.6b stakes in major firms

Business | Foreign investment
2010-2-10

CHINA Investment Corp, the country's sovereign wealth fund, bought US$9.6 billion worth of shares in 84 companies listed in the United States, including Morgan Stanley, Apple Inc and Coca-Cola, by the end of last...

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New credit to slow and inflation to be watched

Business | Banking
2010-2-10

ECONOMISTS expect new loans granted in January in China to be about 1.35 trillion yuan (US$198 billion) and predict lending will slow in the following months. People's Bank of China Governor Zhou Xiaochuan said...

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Toyota bites the bullet on brakes

Business | Automobile
2010-2-10

TOYOTA is recalling about 437,000 Prius and other hybrid vehicles worldwide to fix brake problems - the latest in a string of embarrassing safety lapses at the world's largest auto maker. "I don't see Toyota...

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Banks Need To Turn To Syndicated Loans

Business | Banking
2010-2-10

BANKS in Shanghai are required to turn to syndicated loans to fund projects of more than 1 billion yuan (US$146 million) each to trim risks, the local regulator said yesterday. "Banks are required to proactively...

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EU perplexed over way out of Greece crisis

Business | Macro-economy and policy
2010-2-10

MARKETS somehow expect the European Union to backstop Greece's sagging finances. But with officials denying a bailout is needed, the precise path out of the crisis for the EU's incoming new leadership remains fogged...

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Stock is 3rd debutant to decline

Business | Securities
2010-2-10

CHINA First Heavy Industries Co yesterday became the third firm to fall below its offer price on its trading debut in the last two weeks, further evidence of investors beginning to lose appetite for new stocks amid...

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Losses sink firm behind 'Astro Boy'

Business | Advertisement/media
2010-2-10

THE Hong Kong studio behind "TMNT" and "Astro Boy" has shut down as its parent company tries to recover from losses. Imagi International Holdings Ltd said in a statement to the Hong Kong stock exchange that it...

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Robust auto sales may not be sustained

Business | Automobile
2010-2-10

AS China's vehicle sales more than doubled to a record high in January, extending its lead against the United States as the world's largest auto market, experts cautioned the market might overheat and the booming...

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UBS net profit beats estimates

Business | Banking
2010-2-10

SWISS bank UBS AG posted a fourth-quarter net profit of 1.205 billion Swiss francs (US$1.12 billion) yesterday, beating analysts' expectations partly thanks to a tax credit worth 480 million francs. The result...

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UK sees 'worst January sales growth'

Business | Retail
2010-2-10

BRITISH retail sales recorded their worst performance for the month of January in at least 15 years, a survey showed yesterday, even as separate figures showed house prices extended their recent rise. The British...

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Boeing's 747-8 flies a year later to success

Business | Airlines and airports
2010-2-10

BOEING Co's giant 747-8 freighter - the biggest plane the company has ever built - successfully completed its first flight on Monday, a year later than originally planned. Boeing estimated that more than 5,000...

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Husky's major gas find signals promise

Business | Energy
2010-2-10

CNOOC Ltd's Canadian partner Husky Energy Inc has made a major gas discovery in a shared block in the South China Sea, confirming the area's prospects. The Liuhua 29-1 find is the third deepwater gas discovery...

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JAL stays with American

Business | Airlines and airports
2010-2-10

JAPAN Airlines, wooed for months by Delta Air Lines with promises of cash and a broad global network, spurned the world's biggest carrier and opted to keep its alliance with American Airlines. The Japanese carrier...

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Retailers battle to secure prime space in malls

Business | Retail
2010-2-10

A DEVOUT coffee lover, Eason Wang, the 36-year-old manager at a local advertising company, finally managed to open his own cafe last month in Shanghai in partnership with a friend who shares the same dream of entrepreneurship. ...

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Index ends higher for 1st time in 4 days

Business | Securities
2010-2-10

SHANGHAI'S stocks yesterday closed higher for the first time in four days as banks and metal producers gained. The benchmark Shanghai Composite Index rose 0.47 percent, or 13.67 points, to close at 2,948.84....

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Banks urged to turn to syndicated loans

Business | Banking
2010-2-9

BANKS in Shanghai must prioritize syndicated loans worth more than 1 billion yuan (US$146 million) to cut risk concentration, the local regulator said today. "Banks are required to pro-actively turn to syndicated...

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CIC buys US$9.6b of US shares

Business | Securities
2010-2-9

CHINA Investment Corp, the country's sovereign wealth fund, bought US$9.6 billion worth of shares in 84 companies listed in the United States, including big brands such as Morgan Stanley, Apple Inc and Coca-Cola,...