Briefs, November 2, 2012

Beijing to investigate alleged dumping by EU

The Ministry of Commerce said it will investigate whether the European Union is improperly subsidising its producers of solar-grade polysilicon or dumping their products in foreign markets. AP

Bad debt on the rise at banks, survey finds

China Orient Asset Management said a survey found bad debt at mainland banks may rise up to 10 per cent this year, taking the ratio of non-performing loans to 1-2 per cent by the end of the year. Bloomberg

New World to spend HK$700m on revamp

New World Development announced it will spend HK$700 million to renovate Discovery Park Shopping Centre in Tsuen Wan. Yvonne Liu

Slump in Toyota's China sales continues

Toyota Motor's mainland sales fell 44 per cent from a year earlier last month extending their slump as consumers shunned Japanese cars amid a Sino-Japanese territorial dispute. Bloomberg

DBS profit up 12pc on interest, fee income

DBS, Southeast Asia's largest bank, said third-quarter profit rose 12 per cent from a year earlier to S$856 million (HK$5.44 billion) as interest and fee income climbed. Bloomberg

Air China gets green light for placement

Air China said the China Securities Regulatory Commission has approved a 1.05 billion yuan (HK$1.3 billion) private share placement to its state-owned parent, China National Aviation. Reuters