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HONG KONG, Aug 1 Asia Pulse - Highlights of today's newspapers:
THE SOUTH CHINA MORNING POST
- IBM has struck a US$3.5 billion deal to acquire the global business consulting arm of accountancy firm PricewaterhouseCoopers, creating the world's dominant professional technology services group.
- The bank reporting season gets under way today with Bank of East Asia (BEA) forecast to unveil sharply lower first-half results due mainly to a big jump in provisions for bad loans.
- Jardine Matheson, Hong Kong's oldest trading company and one of its biggest employers, says hopes for an economic recovery in the second half of the year are becoming increasingly uncertain.
- Hong Kong Mortgage Corp (HKMC) yesterday unveiled plans to issue HK$7.3 billion worth of retail bonds and mortgage-backed securities in the second half of the year to finance its mortgage loans purchases.
- Tsingtao Brewery's Hong Kong-listed shares soared 18.75 per cent yesterday on news the company's interim net profit would increase by more than 50 per cent and that it had signed a strategic alliance agreement with Anheuser-Busch of the United States.
Source: HighBeam Research, HONG KONG NEWSPAPER HIGHLIGHTS - AUGUST 1, 2002.