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Business Digest, November 9, 2012

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Melco profit falls as mainlanders pull back

Noble Group, Asia's biggest publicly listed commodity trader by revenue, reported third-quarter profit that missed analysts' estimates as revenue from its agricultural business fell. Net income was US$75.2 million in the three months to September, compared with a loss of US$17.5 million a year earlier, it said. That missed the US$154.6 million mean estimate of analysts. Bloomberg

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Sunshine Oilsands, a Canada-based and Hong Kong-listed developer of projects to extract crude oil from oil sand resources, has obtained conditional approval from the Toronto Stock Exchange to dual-list its shares in Toronto. No funds will be raised by the firm, 29 per cent owned by Chinese state-backed firms. Eric Ng

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Melco Crown Entertainment, a venture between billionaire James Packer and a son of Stanley Ho Hung-sun, said third-quarter profit fell as high-stakes mainland gamblers cut spending. Net income shed 7.4 per cent to US$104.9 million and net revenue fell 4.3 per cent to US$1.01 billion. Bloomberg

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