• Tue
  • Sep 23, 2014
  • Updated: 12:38pm
BusinessChina Business

Business Digest, January 16, 2013

PUBLISHED : Wednesday, 16 January, 2013, 12:00am
UPDATED : Wednesday, 16 January, 2013, 3:41am

Morgan Stanley job cuts in Asia to hit 15pc

Morgan Stanley plans to trim about 15 per cent of its investment banking positions in Asia, higher than the global average of 6 per cent, as it starts a round of job cuts this week, two people with knowledge of the matter sais. They said Asian managing directors Saul Raccah and Leon Guo were among those who would leave. Bloomberg

 

CIC may pare holdings of US treasury bonds

China Investment Corp, the country's sovereign wealth fund, could cut its holdings of US treasury bonds as they were becoming a less attractive investment, the official Shanghai Securities News quoted CIC chairman Lou Jiwei as saying. AFP

 

Li & Fung buys UK firm, placed on credit watch

Li & Fung has acquired British personal care products firm Lornamead, which owns brands such as Yardley and Aqua Net, for US$190 million. Meanwhile, Standard & Poor's placed Li & Fung on credit watch with negative implications on fears the Hong Kong-listed firm's results for last year could be significantly worse than the rating agency's worst-case scenario. Toh Han Shih

 

ICBC to issue 60b yuan in debt securities

Industrial and Commercial Bank of China plans to issue up to 60 billion yuan (HK$74.8 billion) of debt securities with maturities over five years that are eligible to meet capital requirements. Shareholders' approval is required for the issuance. Enoch Yiu

 

Container volume falls for first time in 3 years

Hong Kong port's container throughput fell 5.3 per cent to 23.1 million 20-foot equivalent units last year, the first annual decline since 2009, the Port Development Council said. It dropped 11.3 per cent last month after falling 4.3 per cent in November. Toh Han Shih

 

Foreign investment to stay flat, minister says

China will attract about the same amount of foreign direct investment this year as last year, Commerce Minister Chen Deming said in remarks on the ministry's website. He also said domestic consumption and investment levels were stabilising. Reuters

Share

Related topics

For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive
 
 

 

 
 
 
 
 

Login

SCMP.com Account

or