Bourbon, a Paris-based operator of supply and crew ships for the oil industry, sold a dozen vessels to China's ICBC Financial Leasing as part of its plan to make a dent on its debt, Bloomberg reported.
Tags: China
China's Fosun International Ltd to buy insurance arm of Portugal's state bank for €1B
The insurance unit of Portugal's Caixa Geral de Depositos SA will be acquired by China's Fosun International Ltd in a deal worth €1 billion, Reuters reported.
China's Qihoo 360 denies rumors of Alibaba stake purchase
Qihoo 360 Techology Co., China's second-largest search engine by users, on Thursday dismissed rumors that e-commerce major Alibaba Group Holding would pick up a stake in the company. Qihoo shares surged 9.3% on Wednesday on speculation the two companies were in talks over a deal.
Private equity managers in Asia not inspired by reopening of IPOs in China- report
The reopening of the IPO market in China did not inspire private equity managers in Asia who do not believe that the development would help companies make profitable exits.
China's Anhui Conch Cement to add to capacity through acquisitions
As the Chinese government plans to consolidate production, Anhui Conch Cement Co said it plans to increase its capacity to 30 million metric tons through acquisitions, Bloomberg reported.
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China's State Council has suspended the ban the government had put in place for 14 years which barred the selling of foreign video game consoles, potentially opening doors for technology firms to enter the Chinese video game market, Reuters reported.
Citing a copy it obtained of Document 107, Reuters reported that the State Council of China has published guidelines that aim to fortify regulation against the risky practice of shadow banking.
China-based firm Harbin Bank is planning to file for a $1 billion initial public offering (IPO) in Hong Kong within January, according to sources familiar with the matter.
China may topple the US as the top trader of the world for the first time when it unveils the value of trade of its goods for 2013, The Brics Post reported.
The State Grid Corp of China officially completed the $7.5-billion purchase of interests in Australian power firms SP AusNet and Jemena from utilities group Singapore Power.
US-based firm Cooper Tire & Rubber Company announced via press release that it has called off its merger plans with India-based manufacturer Apollo Tyres and will focus on building its business instead.
China-based rare earth metals producer Inner Mongolia Baotou Steel Rare Earth Group has added nine regional mining firms as part of a government bid to consolidate the industry.
Chinese founders of technology firms that have become billion dollar firms have gone on to start other companies or act as benefactors of other startups or give guidance to young firms, the Financial Times reported.
New York-based cosmetics company Revlon, which has posted profit declines in 2011 and 2012, will close its operations in China, cutting at least 1,100 jobs. News of the shutdown came a few months after Revlon bought Spanish beauty care company Colomer Group.
