Business Digest

China Minsheng Banking Corp

Shui On underlying profit slumps 95pc

Friday, 24 August, 2012, 2:47am

Sportswear shares bounce back

361 Degrees has posted a 9.9 per cent decrease in turnover but hopes to reverse its fortunes by signing on Olympics gold medallist Sun Yang as its spokesman.Photo: Bloomberg

Share prices of mainland sportswear makers rebounded yesterday as Xtep International, 361 Degrees and Peak Sport reported better-than-expected interim results and announced they would pay dividends despite declining profit.

22 Aug 2012 - 5:01am

Fantasia's profit dives but 'sales target can still be met'

Fantasia's Pan Jun is still confident of meeting targets. Photo: Sam Tsang

Mainland developer Fantasia Holdings Group's interim net profit plunged by nearly 60 per cent in the first half this year even though sales exceeded the company's expectations.

18 Aug 2012 - 3:10am

23pc of industrial firms losing money

Almost a quarter of Guangdong's industrial companies are suffering losses - more evidence that the mainland's traditional export hubs are gradually losing their competitive edge in these tough economic times.

27 Jul 2012 - 12:00am

Developers' profit warning shot down

Property tycoon Lee Shau-kee last week raised a red flag over concerns that the profit margins of Hong Kong property developers were being threatened by rising construction costs and increased land supply.

25 Jul 2012 - 12:00am

City Digest

Inflation continues falling trend with 3.7pc in June

24 Jul 2012 - 12:00am

Sales rise 42pc

Official figures showed property sales in the first half of this year were better than the previous six months. There were 54,822 sales and purchase agreements, up 42 per cent on the second half of last year, but down 22 per cent from the same period last year.

20 Jul 2012 - 12:00am

Profits at SOEs fall 11.6pc this year as costs rise

State-owned companies' profits fell to 1.02 trillion yuan in the first six months of the year, 11.6 per cent less than in the same period last year, due to higher input costs, the Ministry of Finance said.

For the first four months of this year, combined profit was only 8.6 per cent lower than in the same period last year.

17 Jul 2012 - 12:00am

Increases in freight rates buoy OOCL revenues

Orient Overseas Container Line saw revenues climb 5 per cent to almost US$2.88 billion in the first half of this year, buoyed by higher freight rates, especially in the second quarter.

14 Jul 2012 - 12:00am

HK's young ready to bet on stocks and bonds

Two-thirds of young Hongkongers expect part of their retirement would have to be funded by investments in stocks and bonds.

That proportion was the highest of six East Asian markets surveyed in a study sponsored by insurer Prudential Assurance and conducted by a Washington-based think tank, the Centre for Strategic and International Studies (CSIS).

13 Jul 2012 - 12:00am

Hunan Nonferrous warns of net loss

Hunan Nonferrous Metals, the mainland's largest producer of non-ferrous metals excluding aluminium, warned it would post a net loss for the first half as a result of lower product prices and high production and financial costs.

11 Jul 2012 - 12:00am

Good appetite for dining out

The food and beverage (F&B) industry will remain robust. Almost everyone likes eating out and Hong Kong people are generally in the habit of dining out.

6 Jul 2012 - 12:00am

Young blood's sweat, tears and fears

Across the world, millions of young jobseekers are struggling to find employment. Youth joblessness inched up this year, with the current levels moving closer to the latest 2005 peak, according to the latest International Labour Organisation (ILO) update on global employment trends for youth.

6 Jul 2012 - 12:00am

Mainland factories see less profits for 4th month

The mainland's industrial sector last month recorded its fourth year-on-year profit decline in five months, underlining the impact of the economic slowdown on manufacturers.

30 Jun 2012 - 12:00am

Doubts raised over plans to develop school e-books

The government's HK$50 million subsidy to develop the e-textbook market in an attempt to cut the rising cost of school books drew criticism from industry representatives at a briefing session yesterday.

26 Jun 2012 - 12:00am