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HONG KONG, June 2 Asia Pulse - Highlights of today's newspapers:
SOUTH CHINA MORNING POST:
- Shanxi-based private steelmaker Haixin Iron and Steel Group, which plans to invest 15 billion yuan (HK$16.89 billion) over the next three years to more than double its capacity, is in talks to bring in industrial investment funds as strategic investors, according to an executive.
- Four mainland companies are rushing to complete their public listing plans before the end of the month, hoping to raise a combined HK$5 billion in investor capital.
- The sale of the 75 per cent stake in Shaw Brothers (Hong Kong) owned by chairman Sir Run Run Shaw has been put on hold as front-runner Country Garden Holdings chairman Yeung Kwok-keung's offer price fell short of Sir Run Run's target of at least HK$10 billion, sources said.
- China Telecommunications Group, the nation's largest fixed-line operator, is expected to announce the acquisition of China Unicom (SEHK: 0762, announcements, news) Group's CDMA mobile network assets and business for more than 100 billion yuan (HK$112.6 billion) after the market closes today, sources said.
- China's worst earthquake in decades has aggravated supply bottlenecks and pushed up prices of many raw materials, adding to the cost burdens faced by manufacturers - including Hong Kong businesses operating on the mainland.