Issue: May 14, 2012 (Archive)

Sunday, May 26, 2013

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Spain giant to hike stake, BEA chief says on cut talk
Bank of East Asia (0023) said biggest shareholder CaixaBank will boost its stake in the Hong Kong blue chip to above 20 percent - refuting speculation that the Spanish lender may shed its stake due to turbulence at home.

Caution must be watchword on stocks
China cut the amount of reserves commercial banks must maintain by 0.5 percent over the weekend.

Crude slide forecast amid surplus supply
Crude prices should fall because global supply is outweighing demand, according to oil minister Ali al- Naimi of Saudi Arabia, the world's biggest oil exporter.

JP Morgan `reacted badly' to red flags
JP Morgan Chase chief executive Jamie Dimon said the bank reacted badly to warning flags last month that it had large losses in financial derivatives trading - a US$2 billion (HK$15.6 billion) embarrassment that has given banking regulators new ammunition.

Guoco gets on top rank with British takeover
Guoco Group (0053), controlled by Malaysia's Quek family, said it will spend 205 million (HK$2.55 billion) to buy the third largest casino operator in the United Kingdom.

Marques give Yongda IPO push
The mainland's second largest luxury car dealer, China Yongda Automobiles Services Holdings, plans to raise up to HK$3.37 billion by selling 312.2 million shares through an initial public offering.

Taxman will knock on all doors
Mainland leaders are ready to slap property taxes on transactions for both new and old home in more cities.

Pessimism rules even as RRR reduced
I am not surprised that the People's Bank of China cut the amount of reserves big banks have to set aside by 50 basis points to 20 percent.

Experts fear lower reserve ratio for banks may fail
China's second cut this year in the reserves commercial banks have to maintain is unlikely to boost the domestic economy, experts said.

Valley road blocked as tree falls
Traffic on a busy road in Happy Valley was at a standstill yesterday morning when an eight- meter tall banyan tree fell across a road.

Boys' molest report rocks Disco Bay
Two local men who allegedly molested five expatriate boys - aged seven to 12 - in Discovery Bay over the weekend remain at large, police said.

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