IN BRIEF (Page 13)

China Mobile unit in Taiwan

China Mobile Ltd has set up a unit in Taiwan after gaining approval from the island's authorities, a move that the company said will help facilitate its proposed $564 million investment in Far EasTone Telecommunications Co.

China Mobile last year agreed to pay NT$17.8 billion ($564 million) to buy a 12 percent stake in Taipei-based Far EasTone.

ICBC ropes in 4 underwriters

Industrial & Commercial Bank of China (ICBC) has selected four banks to handle its Hong Kong share offering, in a deal aimed at raising $7-10 billion, Reuters reported on Tuesday.

ICBC chose BNP Paribas, BOC International, and UBS AG, the report said, adding that ICBC had also chosen its investment banking arm to underwrite the sale.

Cnooc strikes gas in Kenya

Offshore oil explorer Cnooc Ltd discovered natural gas at Isiolo in northern Kenya, Kenya Energy Minister Kiraitu Murungi said.

The Chinese company will now conduct a month long survey to determine whether the finding is commercially viable, he said on Tuesday in the Kenyan capital, Nairobi.

Citic Resources to boost output

Metal producer Citic Resources Holdings Ltd plans to triple crude oil output by 2014 to benefit from rising prices and tap growing demand.

"Output may increase to 3.5 million to 4 million metric tons from just over 1 million metric tons last year," Chief Executive Officer Sun Xinguo said on Tuesday.

EU duties on aluminum wheels

The European Union has imposed provisional anti-dumping duties of up to 20.6 percent on imports of aluminum wheels originating from China following a complaint of unfair competition from European manufacturers.

The levy is for six months and may be prolonged for five years, the European Commission said on Tuesday.

Reuters-Bloomberg

(China Daily 05/12/2010 page13)