Issue: February 11, 2009   (Archive)
Thursday, August 21, 2014   

Miner delivers on buyback
Glencore (0805) has become the first of the large miners to honor promises to return cash to shareholders, announcing a share buyback program of up to US$1 billion (HK$7.8 billion) as it reported forecast-beating interim profit.

Underwriter loses in Nuoqi fallout
China International Capital Corp has dropped CCB International (Holdings) from the list of underwriters on its planned HK$3.9 billion initial public offering, The Wall Street Journal reported.

HK tax system 'the best'
Prominent US economist Arthur Laffer says Hong Kong has the best tax system in the world.

Reason to hold on as barrier cleared
The US Consumer Price Index edged 0.1 percent higher in July, the smallest advance since February. This paved the way for a delay in interest rate hikes and US equities kept up their rally.

Target cut as sales sputter
Geely Automobile (0175) cut its full-year sales target by 25 percent to 430,000 cars as first-half net profit fell 20 percent from a year earlier to 1.11 billion yuan (HK$1.4 billion).

ZTE posts record net
Mainland telecom equipment maker ZTE Corp (0763) yesterday posted a record first-half net profit thanks to improving margins in its global business and revenue from new contracts to build China's next- generation telecom network.

Ping An set for big leap in foreign investments
Ping An Insurance Group (2318) will increase its foreign investment in the coming three to five years, with the budget set at 30 billion yuan (HK$37.8 billion) for this year.

S&P warns of risks to triple A
Standard & Poor's has affirmed Hong Kong's AAA credit rating but warned it could be lowered if political polarization becomes much worse than expected.

HK link adds to StanChart woes
Standard Chartered (2800) agreed to pay US$300 million (HK$2.34 billion) for failing to flag suspicious transactions, as required under a 2012 settlement with New York's top banking regulator.

Tuen Mun sites hot property
Two sites in Tuen Mun were sold at higher than estimated prices yesterday, with one breaking a record for the district with the price per sellable square foot standing at HK$11,559.

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