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  • Dec 21, 2014
  • Updated: 8:02am

Finance

Billionaire 'out to resolve' alleged insider trading

CNOOC is trying to avoid its bid for Nexen becoming politicised, sources say. Photo: Bloomberg

Billionaire Zhang Zhirong, who is at the centre of an insider-trading investigation involving China's biggest overseas acquisition attempt, has hired a specialist lawyer to help him negotiate with the US Securities and Exchange Commission (SEC) for a settlement.

Friday, 24 August, 2012, 3:41am

Recurring gains fall for hotelier Shangri-La

Luxury hotelier Shangri-La Asia yesterday reported an 83 per cent rise in first-half net profit after property revaluation gains to US$198.4 million.

24 Aug 2012 - 2:47am

Worlds apart on pay scale

JPMorgan Chase CEO Jamie Dimon (left) and ICBC chairman Jiang Jianqing are paid vastly different amounts. Photos: AP, Bloomberg

JPMorgan Chase pays Jamie Dimon US$1.21 million for every US$1 billion of profit at the biggest American bank. Industrial & Commercial Bank of China, the world's most profitable, gives its top executive US$9,400.

23 Aug 2012 - 2:13am

Mainland investment fund market set for reforms

The investment funds sector on the mainland could soon face a major overhaul.

22 Aug 2012 - 4:21am

PICC interim figures provide steady assurance

PICC shares gained 7.3 per cent on record interim profits.

Shares of PICC Property & Casualty rose 7.3 per cent yesterday to close at HK$9.44 each after the company reported a record-high interim profit for the first half year, and said it expected buoyant results for the full year.

22 Aug 2012 - 4:21am

Hontex International investors agree on HK$1b refund

Non-executive director Chen Fang-kun says Hontex will hire an investment bank to review if it should continue listing. Photo: David Wong

Shareholders of sport fabric maker Hontex International have approved its HK$1 billion buy-back of shares issued from its troubled 2009 initial public offering.

Chen Fang-kun, independent non-executive director at the company, said 99.3 per cent of participants at an extraordinary shareholder meeting yesterday gave the green light to the repurchase scheme.

21 Aug 2012 - 4:52pm

Regulatory changes hit Chongqing Rural Commercial Bank's revenue

Chongqing Rural Commercial Bank says recent changes to regulations will continue to impinge on fee revenue and lending profitability, despite posting higher profit for the first half of the year.

The bank, a big lender to farmers and small businesses in the southwest of the mainland, posted net profit of 2.8 billion yuan (HK$3.41 billion), 25.3 per cent higher than a year earlier.

21 Aug 2012 - 3:56am

Plugging US tax loopholes

The FATCA isan important development in US efforts to improve tax compliance involving foreign financial assets and offshore accounts of Americans.Photo: Bloomberg

The United States has issued the first of two highly anticipated model intergovernmental Foreign Account Tax Compliance Act (FATCA) partner agreements.

The Model FATCA Partner Agreement eases the act's compliance by expanding on an agreement in principle first announced in February by the US, Britain, France, Germany, Italy and Spain.

21 Aug 2012 - 11:43am

Mainland ratings pioneer Mao Zhenhua reaches out to world

Illustration: Brian Wang

When Mao Zhenhua founded China's first credit ratings agency 20 years ago his dream was to build it into a mainland Moody's.

20 Aug 2012 - 4:51am

Offshore yuan market gets into its stride

An employee counts Chinese 100 yuan banknotes at a branch of Bank of Communications in Shenyang, Liaoning province July 6, 2012. REUTERS/Stringer

The offshore renminbi market in Hong Kong has just turned two years old and the currency has made extraordinary strides.

20 Aug 2012 - 5:31pm

IPO Preview: Roadshows

"So where are we going to travel to on the roadshow?" - that's usually one of the first questions a prospective IPO issuer will ask bankers pitching to lead its flotation.

20 Aug 2012 - 4:19am

Jake's View: China banks off on flight of fancy saying NPL ratios are less than 1pc

Jake's View: China banks off on flight of fancy saying NPL ratios are less than 1pc

The average NPL ratio, or the percentag

19 Aug 2012 - 10:46am