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China News 04/2012 (Page 12)



Petrobras, Vale eye rare earths deal to replace China
By Sabrina Lorenzi and Leila Coimbra | RIO DE JANEIRO (Reuters) - Brazil's state-run oil company Petrobras and mining giant Vale are in talks over a rare earths deal that would allow Vale to replace China as Petrobras' supplier of lanthanum oxide for ...

SEC Asks if Hollywood Paid Bribes in China
The Securities and Exchange Commission has begun an investigation into whether some of Hollywood's biggest movie studios have made illegal payments to officials in China to gain the right to film and show movies there, according to a person with ...

BMW Stretches 3-Series in Top Down China Luxury Expansion: Cars
Bayerische Motoren Werke AG (BMW) is making a bigger version of its popular 3-Series sedan in a bid to tap into Chinese car buyers' taste for larger cars and lure them away from the likes of General Motors Co. The stretch 3-Series, made uniquely for ...

Sekisui's Profit May Reach Record by 2015 on China Homes
Sekisui House Ltd. (1928), Japan's second- biggest home builder, said it expects operating profit to increase almost 80 percent to a record in three years as business in China starts to generate earnings. The Osaka-based company expects operating ...

China's Repo Jumps Most in Two Weeks as Deposit Growth Slowing
China's benchmark money-market rate rose the most in more than two weeks on speculation deposit growth at banks is slowing, causing cash shortages. Industrial and Commercial Bank of China Ltd., China Construction Bank Corp., Bank of China Ltd. and ...

Bank of China Becomes Member of the London Metal Exchange
By Agnieszka Troszkiewicz on April 24, 2012 A Bank of China Ltd. unit became the first Chinese company member of the London Metal Exchange, the world's biggest metals bourse. BOCI Global Commodities (UK) Ltd. was approved as a category 2 member, ...

China State Grid aims to sell $7.9 bln coal, power unit -sources
BEIJING, April 25 (Reuters) - The State Grid Corp of China (SGCC), the country's largest power transmission and distribution firm, plans to sell a coal and power generation unit with assets worth about 50 billion yuan ($7.9 billion) to Shenhua Group, ...

Bo Xilai's Brother Resigns as Vice Chairman of China Everbright
Li Xueming, the brother of ousted Politburo member Bo Xilai, stood down as a director and vice chairman of China Everbright International Ltd. (257), after media reports that highlighted his personal background. “The board has been advised by Mr. Li ...

China State Grid to spin off more assets -sources
* SGCC may spin off a $7.9 bln coal and power unit * Unit accounts for 2.5 pct of SGCC assets (Adds context, analyst comment) By Su Dan and Ken Wills BEIJING, April 25 (Reuters) - The State Grid Corp of China (SGCC), the world's largest state utility, ...

China Reaches Out on Rare Earth
By CHUIN-WEI YAP BEIJING—China extended what it may have intended as an olive branch to the US, Japan and Europe in their dispute over rare earths even as it defended its export controls. China's Ministry of Industry and Information Technology on ...

Italy minister to visit China to seek investment
* Grilli likely to meet with China Investment Corporation * Visit comes after fresh euro zone concerns * Italian bond yields have risen to over 5.6 percent By Giuseppe Fonte ROME, April 25 (Reuters) - Italy's Deputy Economy Minister Vittorio Grilli ...

Disgraced Chinese Official's Son Tries to Defuse Sports Car Scandal
BEIJING — As the Chinese capital heaves with speculation over a British businessman's mysterious death, the downfall of a Machiavellian politician and the future of the ruling Communist Party, one incendiary question has been keeping the political ...

In China, Car Grilles Flash Ambition
By DAN NEILL The future is so bright for the Chinese car industry you have to wear shades. Literally. Chinese car buyers adore cars with chrome grilles, the more garish and gothic the better. A stroll down the aisles of the Beijing International ...

BlackRock Said to Plan Asia Investment Fund With CIC
BlackRock Inc. (BLK), the world's largest money manager, plans to start a fund with China Investment Corp., according to a person familiar with the matter. CIC, the nation's sovereign-wealth fund, and BlackRock will initially provide capital for the ...

Analysis: Myanmar sanctions lifting a boon and a test for China firms
By Ben Blanchard | BEIJING (Reuters) - The lifting of decades of broad Western sanctions on Myanmar will prove to be both a boon and a test for China, for years the former Burma's top investor and trading partner, bringing both risk and opportunity for ...

China's Stocks Rise on Fed's Pledge to Boost US Economy
By Bloomberg News on April 25, 2012 China's stocks rose, driving the benchmark index to the highest level in more than a month, after the Federal Reserve pledged to do more to stimulate US economic growth. Jiangxi Copper Co., the nation's biggest ...

Bollywood's Dibakar Banerjee on his uncommon "Shanghai"
By Shilpa Jamkhandikar | MUMBAI, April 26 (Reuters) - Political thrillers are not that common in Bollywood but then director and producer Dibakar Banerjee rarely chooses conventional subjects for his films. Banerjee, 42, explored sexual attitudes in ...

Former Morgan Stanley star in China pleads guilty
By Aruna Viswanatha | WASHINGTON (Reuters) - A former Morgan Stanley (MS.N) executive pleaded guilty to conspiring to evade internal controls required by a US anti-bribery law, in a case that underlines the fall of a once high-flying dealmaker for the ...

TEXT-S&P Rates China Merchants Proposed Guaranteed Notes 'BBB'
(The following was released by the rating agency) HONG KONG (Standard & Poor's) April 26, 2012--Standard & Poor's Ratings Services today assigned its 'BBB' long-term issue rating and 'cnA' Greater China credit scale rating to the proposed issue of US ...

China Vice Premier Li To Begin Russia, Europe Tour
By SHEN HONG And ESTHER FUNG SHANGHAI/WARSAW --Chinese Vice Premier Li Keqiang will travel to Russia, Hungary and Belgium Thursday, while Premier Wen Jiabao is still on his own European tour, signaling an unusual focus of attention by Beijing on a ...

Lion Capital Explores Weetabix Sale To China's Bright Food-Sources
By Marietta Cauchi LONDON (Dow Jones)--London-based buyout company Lion Capital is exploring the sale of UK cereal maker Weetabix to China's Bright Food Group Co., people familiar with the situation told Dow Jones Newswires on Wednesday, ...

TABLE-PBOC weekly open market operations at a glance
SHANGHAI, April 26 (Reuters) - The People's Bank of China (PBOC) conducted a net injection of 64 billion yuan ($10.15 billion) into the banking system this week, according to Reuters calculations. The PBOC has injected a total of 246 billion yuan so ...

Profit Growth at Bank of China Slows
SHANGHAI—Bank of China Ltd. offered the first indication that China's slowing economy could end a streak of outsize profit growth among the nation's biggest state-run banks, as its earnings growth slowed sharply. The lender reported a 9.9% year-to ...

Four Months Later, the Wukan Model Shows Signs of Waning
By Stanley Lubman The popular Chinese novelist and blogger Han Han was asked in an interview last week whether anything inspired him about China's future. He replied by referring to Wukan, the southern fishing village that made global headlines last ...

A Cynic's Guide To Shocking Revelations of Corruption in China And Mexico
On April 25, 2012, former managing director for Morgan Stanley's real estate business in China, Garth Peterson, 42, an American citizen living in Singapore, pleaded guilty in federal court in Brooklyn, NY to a one-count criminal information charging ...

Iran firms set for South Pars if China fails-ISNA
| DUBAI, April 26 (Reuters) - Iranian energy companies could develop phase 11 of the giant South Pars gas field, a senior Iranian official said on Thursday, if a Chinese contractor does not meet Iran's ultimatum to move ahead with the project in the ...

Fuel Costs Deck Chinese Airlines
By ANDREW GALBRAITH SHANGHAI—Two of China's major state-owned airlines posted sharp falls in first-quarter profit, despite higher revenue, as fuel costs rose and foreign-exchange gains shrank. China Southern Airlines Co., China's largest airline by ...

The rich are different than you and me: They spend more.
For years now, the exciting field of inequality studies has been puzzled by a seeming inconsistency in the data. Income inequality is clearly going up. But consumption inequality — that is to say, the difference between how much rich people and poor ...

China Cosco's Loss Deepens
By ANDREW GALBRAITH SHANGHAI—China Cosco Holdings Ltd. said Thursday that its net loss widened in the first quarter as the company's dry-bulk shipping business slumped amid a slowdown in the global shipping industry. The Beijing-based shipping company ...

China Seeks Boost From Low-Income Housing as Real Estate Slows
By Bloomberg News on April 26, 2012 The Beijing Star Brand Building Materials West Factory has been demolished, and in its place is a construction pit crawling with dump trucks as cranes tower above. This is the future home of the Taiheyuan Affordable ...


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