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  • July 14, 2014
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  1. Korean found guilty of forgery, bribery

    Posted Sep 26th 2009, 12:00am by Joyce Man

    ... Joyce Man A court found a Korean businessman guilty of attempting to redeem a fake copy of a US$50 billion gold bullion deposit certificate and to bribe an HSBC manager into helping him. Chin Soon-yong, 64, who was chairman and director of PK Trading Corporation at the time of the incident on May 21, was convicted in Eastern Court of offering an advantage to an agent ...

  2. China Special Steel faces rough debut

    Posted May 19th 2005, 12:00am by Staff Reporter

    ... Anette Jonsson China Special Steel Holdings is in for a challenging debut on the stock market today, based on modest subscription rates and the way the shares have been allocated. Not only ... of confidence in the steel sector. Investors have been especially concerned about weakening demand from carmakers, China Special Steel's biggest clients. 'It is likely that the shares ...

  3. Property, steel to brace Citic profits

    Posted Mar 23rd 2006, 12:00am by Ken Lo

    ... Ken Lo Conglomerate earmarks $8b for asset acquisitions as chairman eyes disposal of non-core holdings Citic Pacific, run by Larry Yung Chi-kin, China's richest man according to Forbes magazine, plans to raise its stakes in mainland property projects and special steel manufacturing to fill the earnings gap left by the sale of its stake in Festival Walk. With a land bank ...

  4. Liquidity crisis hits mainland steel traders

    Posted Aug 07th 2012, 12:00am

    ... Eric Ng eric.mpng@scmp.com A liquidity crisis has erupted in the mainland's steel trading industry, with about 20 cash-strapped steel trading firms sued by their creditor banks ... been accused of misusing the loans meant for the steel trade on investment in properties and shares, the Securities Times reported, citing unnamed industry insiders. The incident has sent shock ...

  5. The man who juggles life in three places

    Posted Apr 28th 2012, 12:00am

    ... corporate offices in Hong Kong and steel mills on the mainland. It is little wonder he said he had a blocked nose and 'felt like an invalid' coming from minus-20 degrees Celsius weather ... auctions. Given the Russian far east's iron ore is on the same belt as that in northeast China where big steel mills are found, why were the Russian mines not developed earlier? Are Chinese ...

  6. ArcelorMittal clear to raise Valin Steel stake

    Posted Dec 19th 2007, 12:00am by Carol Chan

    ... Carol Chan ArcelorMittal, the world's largest steelmaker, has received approval to increase its stake in Shenzhen-listed Hunan Valin Steel Tube and Wire, to tap the world's biggest market of the alloy. The China Securities Regulatory Commission approved Valin Steel's plan to place 49.3 per cent of its sale of 520 million new shares to ArcelorMittal, lifting ...

  7. Business - Comment - MONITOR

    Steel sector's plight illustrates extent of China's challenges

    Posted Nov 01st 2012, 12:00am by Tom Holland

    ... Tom Holland Steel sector's plight illustrates extent of China's challenges Over the last 10 years no industry has epitomised China's boom as well as its steel sector. And today no other industry so neatly illustrates the problems facing China's economy, nor why they will be so difficult to overcome. China's economic emergence has been built on steel ...

  8. Baosteel unveils 20pc price rise to offset surging costs

    Posted Feb 26th 2008, 12:00am by Carol Chan

    ... Carol Chan Increases for second quarter boost steelmakers' shares Shares of Hong Kong-listed mainland steelmakers surged yesterday after Baoshan Iron and Steel (Baosteel) said ... products will rise as much as 800 yuan to 4,842 yuan a tonne, or 20 per cent more than first-quarter levels, the Shanghai steelmaker said. It joins rivals such as Japan's Nippon Steel Corp ...

  9. New steel policy to affirm curbs on foreigners

    Posted Jul 14th 2005, 12:00am by Eric Ng

    ... Eric Ng in Beijing China will affirm an unofficial ban on foreign firms taking majority shares in domestic steel companies under a new policy to be issued next week, a senior industry ... and Steel Association. The move will clarify an unwritten rule that discourages foreigners from taking over mainland steel mills. It is aimed at shoring up the market position of domestic firms, ...

  10. Baosteel seals deal on US$4b steel mill in Brazil

    Posted Jul 19th 2007, 12:00am by Staff Reporter

    ... venture to make steel slabs in Brazil, according to a statement on CVRD's website. The deal, which can secure raw material supply for Baosteel and boost domestic sales of iron ore for CVRD, the world's biggest iron ore producer, ended a long-running dispute over the joint-venture site with the state government of Maranhao, the originally planned location for the steel slab plant. ...




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