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HONG KONG NEWSPAPER HIGHLIGHTS - AUGUST 1, 2002.

AsiaPulse News

| August 01, 2002 | COPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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.

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Source: HighBeam Research, HONG KONG NEWSPAPER HIGHLIGHTS - AUGUST 1, 2002.

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