 IN BRIEF (Page 14)
(China Daily)
Updated: 2008-07-04 07:45 Coal sales up China National Coal Group Corp reported a 19 percent jump in coal sales in the first half of this year compared with the year earlier, selling 52 million tons. Coal output at China's second-largest coal producer rose 14 percent from a year earlier to 57 million tons, it reported. Domestic sales in the first half jumped 27 percent to 43 million tons. The group also exported 9 million tons of coal. Chrysler China JV Chrysler LLC, the third largest US automaker, said it would explore a tie-up with China's Great Wall Motor Co as it seeks to accelerate its expansion into the world's fastest-growing major vehicle market. Chrysler signed an initial agreement with Great Wall to assess developing a long-term relationship, Daphne Zheng, director of marketing and communications at Chrysler's Asia unit said in a statement. Airline may post loss Cathay Pacific Airways Ltd, Hong Kong's largest airline, may post a loss this year, its first since 1998, as jet fuel prices surge, according to a report by Cazenove Asia Ltd. The carrier may report a loss of HK$1.6 billion this year, instead of an earlier estimate for a HK$4.3 billion profit, analyst Andrew Au said. Cathay had forecast "disappointing" earnings, and said it spent 60 percent more on fuel in the first half of 2008 than a year ago. Carbon credit deal Power generator China Guodian Corp has signed a carbon credit deal with Lehman Brothers involving about 4.2 million tons of carbon dioxide equivalent under the Kyoto Protocol's clean development mechanism. Under the agreement, which runs until 2012, Lehman Brothers will buy carbon credits generated by Guodian's two super-critical thermal coal plants. CNNC registers trademarks China National Nuclear Corp (CNNC) said it had registered its name in English, Chinese, and its logo as trademarks, in an important step for the company's brand establishment and intellectual property protection. CNNC is the first group involved in China's military industry to have its own registered brands. Steelmaker to sell debt Panzhihua New Steel & Vanadium Co, the publicly traded unit of Southwest China's biggest steelmaker, plans to sell 800 million yuan of short-term debt to institutional investors. The bonds, with a maturity of as long as one year, will be sold via China's inter-bank market, the Sichuan province-based company said in a statement to the Shenzhen stock exchange. It did not give a reason for the sale or an interest rate. New DBS China head DBS Group's head of consumer banking for China has resigned and will be replaced by a former executive from ABN AMRO, a spokeswoman for the Singapore bank said yesterday. Linda Wong, the former country executive for Dutch lender ABN AMRO in China, will be DBS' new head of consumer banking in Hong Kong and on the mainland, DBS spokeswoman Karen Ngui said. Wong, who will join DBS in September, will succeed Sunny Cheung who is leaving the bank for personal reasons, she said. Copper group to expand Daye Nonferrous Metals Company, China's fifth biggest copper producer, is likely to expand copper mine resources after a 1 billion yuan cash investment from Yangtze Power Co Ltd. Yangtze's move has also ended Aluminum Corp of China's four-year ambition to take control of Daye's copper production, a further setback for the country's top aluminum group's plans to expand into non-ferrous metals after it failed to take over Shaanxi Nonferrous Metals. Agencies-China Daily (China Daily 07/04/2008 page14) |
