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Business Digest, October 17, 2012

PUBLISHED : Wednesday, 17 October, 2012, 12:00am
UPDATED : Wednesday, 17 October, 2012, 2:50am

7 overseas investors receive QFII licences

China's securities regulator granted investment licences to seven overseas institutional investors last month, allowing them to buy Chinese stocks and bonds. Some of the qualified foreign institutional investor licences went to Duke University, Macquarie Bank, Qatar Holding and KDG Capital Management (HK). Reuters
 

Mine developer's shares leap 21.7pc

Shares of IRC, a Hong Kong-listed developer of iron ore and related minerals mining projects in Far East Russia, jumped 21.7 per cent to 73 HK cents yesterday after it announced it completed a technology upgrade at a titanium-iron oxide mine that raised its annual output capacity of the mineral by 150 per cent. Eric Ng
 

Construction starts on third west-east pipeline

China National Petroleum Corp started construction of a third cross-country gas pipeline yesterday, Xinhua reported. The project is estimated to cost 125 billion yuan (HK$153.8 billion) and is aimed at boosting gas imports from central Asia. The west-east pipeline will span more than 5,000 kilometres from Xinjiang to Fujian. Reuters
 

Hi-tech shipments lift Cathay's cargo demand

Cargo demand at Cathay Pacific Airways rebounded 2.4 per cent year on year last month boosted by hi-tech consumer products. Demand from Hong Kong, mainland China and other manufacturing centres, such as Vietnam, began to pick up as a result of large shipments of the iPhone 5 and other electronic goods. Passenger volume dropped 0.4 per cent. Charlotte So

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