Seven years after petroleum companies Chevron Corp and PetroChina entered into a joint venture agreement, the USD6.4 billion Chuandongbei gas project faces further delay. It is now expected to deliver gas in the second half of next year.
China
Hong Kong's Gaw Capital eyes USD1-billion overseas acquisitions
Hong Kong-based private equity firm Gaw Capital Partners is set to purchase minority stakes in four commercial property acquisitions in the UK and the US, in a deal with a total value of USD1 billion.
Pan intends to regrow the Regent brand back in Hong Kong, China
Formosa International Hotels chairman Steven Pan Si-liang is not daunted to the task of expanding the Regent Hotel brand to saturated Hong Kong and China markets, as evident in a recent interview by the South China Morning Post.
Bitcoins no longer accepted on Baidu
After the government announced a ban on the use of Bitcoin for financial institutions, China's biggest search engine Baidu Inc announced that it would no longer be accepting the digital currency as payment.
China Southern supports plan to back Qantas stake - report
State-owned China Southern airline has held detailed discussions last year with a consortium of wealthy investors to provide financial backing for the syndicate's stake in Qantas.
Latest News
China Development Bank Corp. has committed CNY490 million (USD81 million) to clean-energy operator China WindPower Group's solar farm projects in two Chinese provinces. CDB has provided a total of CNY1.23 billion to China WindPower's previous projects.
Beijing Interoceanic Canal Investment Management Co announced the joint venture of billionaire Wang Jing and Ukrainian partner Kievgidroinvest LLC to construct an economic development zone and port on the Crimean peninsula.
Carlsberg Group reportedly purchased a 30.3% stake in joint venture partner Chongqing Brewery. The Danish brewer hopes to expand its presence in China's USD76 billion liquor market.
A boom in Chinese internet stocks helped propel San Francisco-based hedge fund to double digit gains this year when other hedge funds have given dull returns, according to a Reuters report.
China's central bank the People's Bank of China (PBOC) stressed the need for its domestic banks to avoid transactions using Bitcoin and other virtual currencies and vowed that it will launch countermeasures against illegal activities using the alternative online payments.
French building materials business Materis is reportedly in an advanced stage of negotiations to sell its business unit Kerneos. Investment firm Astorg Partners will acquire Kerneos for EUR610 million.
The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
A source told Reuters that Qinhuangdao Port Co is going to be setting the price of its planned initial public offering at HKD 5.25 per share, which is the bottom of its indicative range.
China Mobile Ltd. has reportedly entered a deal with Cupertino-based tech giant Apple Inc. to offer iPhones to its more than 700 million subscribers. China Mobile earlier this week received its 4G license from the Chinese government.
