Business Digest, February 21, 2013

PUBLISHED : Thursday, 21 February, 2013, 12:00am
UPDATED : Thursday, 21 February, 2013, 6:07am


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MGM China declares special dividend

Macau casino operator MGM China declared a special dividend of HK$1.02 per share as it posted unaudited earnings before interest, taxes, depreciation and amortisation of HK$5.31 billion last year, up 7.7 per cent from 2011. After accounting for deferred taxes, net profit jumped 38.2 per cent to HK$4.53 billion. Eric Ng


Hutchison unit wins British 4G spectrum

Hutchison 3G UK, a telecommunications unit of Li Ka-shing's Hutchison Whampoa, will pay £225 million (HK$2.67 billion) in licence fees for the radio spectrum it won in Britain's 4G mobile auction. The company, which has more than 97 per cent nationwide coverage, will provide high-speed 4G mobile services on two lots of the 800-megahertz band. Four other operators also won in the auction. Bien Perez


Apple's iPhone 5 sales overtake Samsung S3's

Apple sold 27.4 million units of its iPhone 5 in last year's fourth quarter, making it the world's best-selling smartphone, beating Samsung Electronics' Galaxy S3, of which 15.4 million were sold, market research firm Strategy Analytics said. Apple's smartphones seized a 20.6 per cent share of the global market. Meanwhile, Foxconn Technology, which makes the iPhone and other Apple products, halted hiring until the end of next month after more workers returned from the Lunar New Year break than a year earlier. Bien Perez, Bloomberg


Yang to be 'board observer' at Lenovo

Mainland computer giant Lenovo named Jerry Yang Chih-yuan, a co-founder and former chief executive of Yahoo, as a "board observer" yesterday. In a regulatory filing, Lenovo said Yang's role was to attend board meetings and share his views, but he is neither a director nor an officer of the firm. Bien Perez