In Brief
CNPC completes stake sale to kazmunaigaz
China National Petroleum Corp (CNPC) has completed the sale of a 33 per cent stake in PetroKazakhstan to Kazakhstan oil and gas firm KazMunaiGaz as part of conditions of CNPC's acquisition of PetroKazakhstan for US$4.18 billion in October last year, Xinhua quoted an unnamed CNPC source as saying.
power firm sells A shares
Guangdong No2 Hydro-power Engineering, owned by the local government, plans to raise about 383 million yuan by selling 90 million new A shares, or 39 per cent of its enlarged share capital on the Shenzhen Stock Exchange to fund new projects.
shangri-la upgrades
Shangri-La Asia plans to spend US$80 million adding 200 rooms to its 414-room hotel in Fuzhou, Fujian, which officially only received its first guest in April last year, according to sources.
BEA allies with us bank
The Bank of East Asia has formed a business co-operation alliance with California-based City National Bank.
