Business Digest, February 22, 2013

Economic index signals continuing growth

A leading index for China's economy rose 1 per cent from December to 253.4, the Conference Board, a New York-based research group, said, suggesting the country's growth rebound is continuing. The index of US leading indicators rose 0.2 per cent last month, the group said. Bloomberg

Top four banks step up new lending

China's top four state-owned banks extended 250 billion yuan (HK$311 billion) in new loans in the first half of this month, up from 180 billion yuan for the whole month of February last year, the 21st Century Business Herald reported, citing an unnamed source. It said this month's figure was for the first 17 days of the month. Reuters

Cathay airfreight terminal takes off

Cathay Pacific Services started handling airfreight at the airline's HK$5.9 billion cargo terminal at Hong Kong International Airport yesterday. The complex, which can handle 2.6 million tonnes of cargo a year, will initially handle transfer transshipments, valuable cargo and transit mail under a three-stage opening programme. Keith Wallis

NY Times publisher to sell Boston Globe

New York Times Co is formally exploring a sale of the Boston Globe, its only remaining business outside its core brand. The publisher, controlled by the Ochs-Sulzberger family, said it is working with Evercore Partners as an adviser for a sale and that it intends to focus its strategy and investment on the New York Times brand. Bloomberg