China Mobile

Briefs, December 15, 2012

PUBLISHED : Saturday, 15 December, 2012, 12:00am
UPDATED : Saturday, 15 December, 2012, 4:33am


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CDBII looks to buy into energy investment firm

China Development Bank International Investment (CDBII) said it had signed a letter of intent to buy an energy and resources investment firm, in a possible deal that could be settled by a substantial share placement. The Hong Kong-listed CDBII is 66.16 per cent owned by China Development Bank International Holdings - an offshore unit of China Development Bank. CDBII is looking to invest in Gateway Energy and Resource Holdings, which invests in energy, resources and related infrastructure projects. If the deal materialises, CDBII may issue about 2.29 billion new shares to Gateway shareholders, representing 44.1 per cent of the enlarged share capital of the company. Peggy Sito


Japan survey: business sentiment worsening

Japanese manufacturers are growing increasingly pessimistic, according to a survey released yesterday. The Bank of Japan's "tankan" index for the December quarter slumped to minus 12 from minus 3 in the previous quarter, a result that was much worse than expected. A reading below zero means pessimistic views outnumber optimists. The report largely blamed tensions with China, which have slammed exports to one of Japan's biggest markets, for the deterioration in sentiment. The survey raises the likelihood of further monetary easing. AP


US factory output jumps, inflation down

US factory output posted its sharpest increase in nearly a year last month as car production staged a rebound, while consumer prices slipped, in welcome signs for an economic recovery. The Federal Reserve said manufacturing output rose 1.1 per cent in November, the biggest gain since December 2011 and a rebound from a 1 per cent drop the previous month. Separately, financial information firm Markit said its preliminary gauge of factory activity this month rose to 54.2, the highest since April, from 52.8 in November. Meanwhile, consumer prices dropped 0.3 per cent last month, the first decline in six months, as petrol prices fell sharply. Reuters


China Mobile executive director steps down

China Mobile said Xu Long had resigned from his position as an executive director with effect from yesterday. He has been an executive director of China Mobile from August 1999. He will remain the chairman and president of China Mobile Group Guangdong. Xu confirmed there was no disagreement with the board. Peggy Sito