Business Digest, December 8, 2012

The Hong Kong Monetary Authority (HKMA) stepped into the currency market yesterday, selling HK$3.875 billion as the local dollar repeatedly hit the strong side of its trading range against the US dollar. Hong Kong's official foreign currency reserve assets stood at US$305.2 billion at the end of last month, the HKMA said, up 1.2 per cent from the end of October. Reuters

A group of mainland firms, including the Industrial and Commercial Bank of China, is in talks to buy American International Group's aircraft leasing unit, ILFC, for about US$5.5 billion, a person familiar with the deal said. Reuters