Hutchison Whampoa


PUBLISHED : Thursday, 06 September, 2012, 12:00am
UPDATED : Thursday, 06 September, 2012, 3:10am

Vendors tell Hutchison to complete purchase

The debt-laden owners of Partner Communications have told Hong Kong conglomerate Hutchison Whampoa in a letter filed with the Tel Aviv Stock Exchange that it must go through with a deal to buy back Israel's second-largest mobile-phone operator. Reuters

Aussie slumps as GDP growth slows sharply

Australia's dollar touched its lowest level in six weeks as economic growth slowed more than forecast. The aussie lost 0.4 per cent to US$1.0188 in Sydney. Gross domestic product grew 0.6 per cent in the second quarter from the previous three months, when it rose 1.4 per cent, official data showed. Bloomberg

Drywall maker must face claims in US

A US federal judge has ruled that a Chinese drywall maker must face claims over its allegedly tainted product, which has been blamed for causing foul odours, the failure of appliances and health problems. Homeowners will now be able to pursue claims against Taishan Gypsum in US courts, increasing the pressure for a settlement. Reuters

Moody's upgrades Greentown China

Rating firm Moody's Investors Service has upgraded mainland property developer Greentown China to B3 from Caa1 with a negative outlook, saying its financial situation will improve after the injection by Wharf (Holdings) of about 4.2 billion yuan (HK$5.12 billion). It said Wharf could review Greentown's new projects and financial management, ensuring it adheres to a disciplined approach. Paggie Leung

Investors pump US$150 million into hydro firm

Morgan Stanley and private equity funds FountainVest Partners and Olympus Capital Holdings Asia boosted their investment in Zhaoheng Hydropower, buying a US$150 million stake as China pushes utilities to adopt non-fossil fuel sources of energy. Zhaoheng plans to use the funds to acquire hydropower plants and boost its operating capacity to more than one gigawatt over the next two years. Bloomberg

Euro-zone crisis drives Volvo to first-half loss

Swedish carmaker Volvo, which Zhejiang Geely bought in 2010, made a first-half net loss after sales suffered a downturn as a result of the euro-zone crisis. The company aims to increase sales to 800,000 by 2020 from just over 400,000, including rapid growth in China, where it plans to build two factories. Reuters