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China News 03/2012 (Page 6)



METALS-Copper up ahead of Fed meet, macro data supports
* Rusal chairman quits in Russian oligarch fight * LME copper stocks hit new low * Coming Up: Fed announces policy meeting results: 1815 GMT By Silvia Antonioli and Maytaal Angel LONDON, March 13 (Reuters) - Copper rose around 1 percent on Tuesday ...

Stephon Marbury denies hitting fan
AP BEIJING -- Former NBA star Stephon Marbury has denied hitting a fan after a testy playoff loss in a Chinese Basketball Association game. The 35-year-old Marbury and his Beijing Ducks teammates were trapped in their team van after their 102-100 road ...

Apple Calls Proview Stance 'Misleading'
By LORETTA CHAO BEIJING—Apple Inc. elaborated on its claim to the iPad trademark in China on Tuesday, saying that the computer maker's opponent in a court battle is "misleading Chinese courts and customers." Apple spokeswoman Carolyn Wu said Proview ...

China Cutting Costs to Expand Health Care Threatens Drugmakers
China vowed to extend drug-price cuts, rankling some of the country's largest manufacturers, in an overhaul of its health-care system to trim the cost of caring for an aging population. Political leaders, wrapping up their annual National People's ...

Volvo Courts NBA's Lin in China
By NORIHIKO SHIROUZU And JOSH CHIN Since early February, the New York Knicks have made a fortune off their suddenly world-famous point guard, Jeremy Lin. But Mr. Lin himself has yet to wring a marquee endorsement out of his often spectacular play on ...

China Believed to Make Large Purchase of Corn
By OWEN FLETCHER The US Department of Agriculture reported private exporters sold 240000 metric tons of US corn for delivery to unknown destinations. Commodity traders widely believed the buyer was China. If so, it would be the nation's largest corn ...

Tudou Owners Get World's Best Deal Taking Youku Stock: Real M&A
Youku Inc. (YOKU), owner of China's most- popular online video site, is giving shareholders of Tudou Holdings Ltd. the best deal in the world. Tudou, which lost about half its value after going public in the US in August, almost tripled this week after ...

National Aluminium Delays Output Restart on China Concerns
National Aluminium Co. (NACL), India's third-largest producer, is delaying the restart of the shuttered 10 percent of its capacity on signs the economy is stalling in China, the biggest user of the light metal. Aluminum prices on the London Metal ...

Iron Ore-Spot price firms, rebar hits 5-week top
* Iron ore climbs to 5-week high * Australian Pilbara fines offered at $1 more * Gains in steel prices likely to be curbed (Updates with rebar price) SHANGHAI, March 14 (Reuters) - Iron ore prices gained for a second straight session, rising to its ...

ICBC appears to back away from Pakistan-Iran gas pipeline
By Rebecca Conway and Qasim Nauman | ISLAMABAD, March 14 (Reuters) - A top Pakistani government body said that China's largest bank is backing away from a long-running plan to build a gas pipeline from Iran to Pakistan, a project that the United States ...

China passes new law allowing secret detentions
By the CNN Wire Staff The National People's Congress has approved changes to the country's criminal code, allowing police to hold suspects at secret locations. Beijing (CNN) -- Chinese legislators Wednesday approved changes to the country's criminal ...

Mysterious dark-skinned stone age people found
A newly found Stone Age people featured darker skin, an unusual mix of primitive and modern features and likely had a taste for venison.Peter Schouten A newly found Stone Age people featured darker skin, an unusual mix of primitive and modern features ...

China's IPO hopefuls look to London
* Investors wary of Chinese IPOs after scandals * Corporate governance focus in rebuilding trust * Interest in listing in London expected to grow By Kylie MacLellan LONDON, March 14 (Reuters) - Frustrated by a long wait to list at home, and enticed by ...

NetEase: A Rare Bright Spot in Chinese Online Gaming
Doug Young lives in Shanghai and writes about tech investment in China for Techonomy and at www.youngchinabiz.com. A press release from ChinaJoy, China's oldest online gaming show, now celebrating its 10th anniversary, reminded me of how little I've ...

METALS-Copper slips on China concerns, stronger dollar
* China says no let up in property controls * China demand seen picking up slowly, remains a concern By Harpreet Bhal and Silvia Antonioli LONDON, March 14 (Reuters) - Copper eased on Wednesday, falling from a one-week high hit in the previous session ...

Cave Fossil Find: New Human Species or "Nothing Extraordinary"?
The most complete Red Deer Cave human skull (pictured) was found locked in rock in Longlin, China. Photograph courtesy Darren Curnoe. A previously unknown type of human—jut-jawed, heavy-browed, deer-eating cave dwellers—may have been identified via ...

Chinese Detain Worker at UK Bank
By JAMES T. AREDDY SHANGHAI—In a case that could highlight the risks bankers face in handling the finances of China's superrich, Chinese authorities have detained an employee of Standard Chartered PLC on suspicion she aided criminal activity, ...

Indonesia - Market Factors to watch - March 15
JAKARTA, March 15 (Reuters) - Following is a list of events in Indonesia as well as business highlights from newspapers and factors that may influence financial markets. PRESS DIGEST - BCA FINANCE TO ISSUE 1 TRLN RPH BOND NEXT MONTH PT BCA Finance, ...

China's new microblogging rules to make Weibo more attractive
By Melanie Lee | SHANGHAI (Reuters) - New real-identity rules to be imposed on China's Weibo are likely to make the country's most popular microblogging platform more alluring to advertisers, as Sina Corp seeks to start generating revenue from its ...

China Gas Valuation Tempts Richer Takeover Bid: Real M&A
By James Paton, Guo Aibing and Angus Whitley on March 14, 2012 Investors are betting that a takeover offer for China Gas Holdings Ltd. (384), already the most expensive in the pipeline and gas distribution industries since the 2006 buyout boom, ...

Asian stock markets fall as lower commodity prices, Chinese growth weigh on ...
Asian stock markets fall as lower commodity prices, Chinese growth weigh on ...

Most Chinese Stocks Drop on Concern About Slowing Economy
By Bloomberg News on March 14, 2012 Most Chinese stocks declined as a drop in foreign investment boosted concerns the economic slowdown will worsen. China Vanke Co. and Poly Real Estate Group Co. led a gauge of property stocks to its biggest two-day ...

Vice Premier Zhang Dejiang has replaced Bo as Chongqing Communist Party chief
Beijing (CNN) -- Bo Xilai, once seen as one of the rising stars of Chinese politics, has been removed from his prominent provincial post after a scandal involving one of his key deputies. Zhang Dejiang, a Chinese vice premier, will replace Bo as ...

China's BoCom set to unveil $7.9 billion private share sale plan
| SHANGHAI (Reuters) - China's fifth-biggest lender, Bank of Communications (BoCom) (601328.SS)(3328.HK), was expected to unveil plans later on Thursday for a 50 billion yuan ($7.9 billion) private share placement. The deal would make BoCom the latest ...

Iron Ore-Spot ore edges up, $150/T seen as near-term cap
* Iron ore prices up 2 pct this week * Shanghai rebar ended 0.28 pct higher but under pressure * Uncertain steel demand may cap iron ore prices (Updates with rebar price) SHANGHAI, March 15 (Reuters) - Spot iron ore prices ticked higher on increased ...

METALS-Copper steadies, China demand in focus
* Copper trades in tight range so far this week * Copper stocks in LME warehouses fall to fresh 32-month low * US weekly jobless claims fall to four-year low By Harpreet Bhal LONDON, March 15 (Reuters) - Copper prices steadied on Thursday, ...

Ping An Insurance Profit Rises 12.5% on Banking Income, Premiums
By Bloomberg News on March 15, 2012 Ping An Insurance (Group) Co. (2318), China's second-biggest insurer, said profit rose 12.5 percent last year as its banking operations contributed more revenue and premium income expanded. Net income at the insurer ...

China wealth fund nears buying assets in Poland
By Dagmara Leszkowicz and Maciej Onoszko | WARSAW (Reuters) - China Investment Corp CIC.UL has signed a deal with Poland's foreign investment body PAIiIZ that could see China's $410 billion sovereign wealth fund snap up assets in the European Union's ...

China Mobile's Quarterly Profit Rises on Data Sales Gains
By Bloomberg News on March 15, 2012 China Mobile Ltd. (941), the world's biggest phone company by subscribers, posted a 4.6 percent gain in fourth-quarter profit that missed estimates as it sought to add customers using smartphones to download games ...

BoCom to Raise $8.9 Billion in Shanghai, Hong Kong Sales
By Bloomberg News on March 15, 2012 Bank of Communications Co., China's fifth-largest lender, plans to raise 56.6 billion yuan ($8.9 billion) in the world's biggest share sale since May. China's Ministry of Finance and HSBC Holdings Plc (HSBA), ...


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