Business Digest, February 4, 2013

Qihoo 360 Technology chairman Zhou Hongyi said the antivirus company was willing to acquire stakes in smaller firms, as it competed against larger rivals such as Baidu and Tencent. Zhou said yesterday that he had always considered buying into smaller companies to help more internet start-ups grow. Qihoo has backed more than 100 firms since its initial public offering, according to Zhou. "If all the little companies die and I'm left alone as the only company fighting against industry giants, I don't think I have much competitive advantage either," Zhou said. Bloomberg

Citic Resources expects to post a significant loss for last year, partly because of a decline in the results of its Hong Kong-listed subsidiary Citic Dameng and weak manganese prices. The non-cash impairment loss from Citic Dameng is expected to be substantial, and Citic Resources has made a non-cash provision for its investment in Citic Dameng. Toh Han Shih