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  • September 2, 2014
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  1. ICBC secures clearance to open first US branch in New York

    Posted Aug 07th 2008, 12:00am by Staff Reporter

    ... Natalie Chiu Industrial and Commercial Bank of China, the nation's largest lender by market value, has won approval from the United States Federal Reserve to open a branch in New York, its first in the world's biggest economy. The approval for ICBC follows rival China Merchants Bank's move in November last year to open a US branch and reflects a growing ...

  2. Indian bank to open two more branches in China

    Posted Mar 07th 2012, 12:00am

    ... Daniel Ren in Shanghai ren.wei@scmp.com State Bank of India (SBI) is moving ahead of its domestic rivals, with plans to open two more branches on the mainland, aiming to further profit from booming Sino-Indian trade, which is expected to top US$100 billion in three years. Chairman Pratip Chaudhuri said yesterday that the largest bank in India was giving the China market ...

  3. Licence surge to open market for marine fuel

    Posted Jul 09th 2011, 12:00am

    ... market share by undercutting Chimbusco's prices. This saw industry profit that went as high as US$58 a tonne in May last year squeezed to less than US$20 a tonne in last year's second half. Losses were seen in the final two months of 2010, as well as part of February, April and June this year. Marine fuel prices have risen to US$600 a tonne in this year's first half, ...

  4. HK bronze worth more than US gold thanks to bank deal

    Posted Aug 08th 2012, 12:00am

    ... taxes on their prize money. The bank's generosity must be lauded. Yet, I doubt they would be so open-handed if Hong Kong was a true power like the US. Just imagine the bill if we came home ... Alvin Sallay Sarah Lee Wai-sze might have only won a bronze medal but will be be rewarded more than American gold medallists, who will only receive US$25,000 (just under HK$200,000), less ...

  5. Merry Garden IPO target US$207m

    Posted Jun 25th 2012, 12:00am

    ... and also expand its retail distribution channel with the proceeds from the public offering. It opened its first self-operated store in December last year in Fujian province. Leisure household products accounted for 70.8 per cent of revenue last year, while timber villas accounted for 26.5 per cent. Merry Garden plans to open five flagship stores in major mainland cities and 20 ...

  6. Bank of East Asia still open to new investors

    Posted Jan 14th 2008, 12:00am by Staff Reporter

    ... any such approach. If the bank believed there was a strategic advantage to such a deal it would place new shares, he said. 'If CIC approached us, I'd definitely consult our board ... away. On the broader economic front, Mr Li said if the US economy slowed down or went into a full recession it would affect countries all around the world. Hong Kong's economy could also ...

  7. New year effect, liquidity seen lifting opening day

    Posted Feb 21st 2007, 12:00am by Staff Reporter

    ... the blue-chip indicator rose 29.5 per cent. 'The index may climb 10 to 15 per cent,' Mr Wong said. Gold prices are also expected to open higher today. The metal traded at about US$669 per ... Lee Yuk-kei Hong Kong stocks are expected to open higher today, the first trading day of the Year of the Pig, spurred by the Lunar New Year effect and strong overseas markets. 'The ...

  8. Banking regulator to slow opening of sector

    Posted Apr 21st 2008, 12:00am by Staff Reporter

    ... Daniel Ren in Shanghai and Maria Chan CBRC feels pressure to protect domestic players The China Banking Regulatory Commission (CBRC) will slow down in opening up the banking sector this year amid growing pressure on the government to protect homegrown lenders, sources said. The regulator delayed approving at least two outlets to be opened by foreign banks, the South China ...

  9. Graff Diamonds sees sparkle in US$1b IPO

    Posted May 28th 2012, 12:00am

    ... franchises in some areas as local regulations require us to have local partners,' Francois Graff said. It plans to open five more directly operated stores in Hong Kong, Macau, Shanghai, Hangzhou ... Enoch Yiu enoch.yiu@scmp.com Graff Diamonds, the London-based high-end jeweller whose customers have included European royalty and the late actress Elizabeth Taylor, will kick off its US ...

  10. Adidas to open its largest store worldwide in Beijing's Sanlitun

    Posted Aug 01st 2007, 12:00am by Enoch Yiu, Peggy Sito

    ... Enoch Yiu and Peggy Sito Sports footwear and apparel retailer Adidas will open its largest store worldwide in a Sanlitun retail development owned by Swire Properties and Gateway Capital ... was confident that the retail market in Beijing would support the new outlet, which had been targeted to open for business in the first quarter of next year. The location would be a magnet ...




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