Hong Kong Daily News 2011.07.06

Bluestar Adisseo Seeks Two-City IPO
Wall Street Journal
By PRUDENCE HO And YVONNE LEE HONG KONG—Bluestar Adisseo Nutrition Group Ltd., a maker of animal nutrition products partly owned by US private-equity firm Blackstone Group LP, aims to raise around US$1.5 billion in a Hong Kong-Paris dual listing, …
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Hong Kong, China shares end lower as stake sales slam Chinese banks
Reuters
By Clement Tan and Yixin Chen HONG KONG/SHANGHAI, July 6 (Reuters) – Chinese banks dragged shares in Hong Kong and Shanghai below key technical support levels on Wednesday after Singapore state investor Temasek Holdings (Private) Ltd sold off a …
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Hong Kong Manufacturing Grows At Slowest In 23 Months
Wall Street Journal
(Rewrites the lead, adds comments from HSBC from the fourth to the seventh paragraphs, background on Hong Kong economy and inflation in the eighth paragraph.) By Chester Yung Of DOW JONES NEWSWIRES HONG KONG (Dow Jones)–Manufacturing activity in Hong …
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Marlin & Associates Opens Hong Kong Office and Names Industry Veteran Robert …
MarketWatch (press release)
The new Hong Kong office will be led by industry veteran, Robert (“Rob”) Agnew and will be located at 1311 Capitol Centre Tower II, 28 Jardine’s Crescent, Causeway Bay, Hong Kong. “Rob comes to M&A with an impressive background,” commented Ken Marlin, …
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Asian shares weighed by European woes
AFP
HONG KONG — Asian stocks were mixed Wednesday, with Tokyo hitting its highest close since the March 11 quake on optimism over the US outlook, but a cut in Portugal’s debt rating to “junk” tempered sentiment. A tepid performance on Wall Street, …
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OMH abandons bid for Hong Kong IPO
Asia Times Online
By John Helmer MOSCOW – OM Holdings (OMH), the Singapore-based manganese miner and metals refiner, has abandoned a four-month effort to place shares on the Hong Kong Stock Exchange. The announcement came in a company release on Tuesday to the …
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China ‘censors’ Internet speculation about ex-president
AFP
The 84-year-old failed to appear at celebrations marking the 90th anniversary of the Communist Party on Friday, just as Hong Kong media reported he was ill, launching a frenzy of speculation online. His absence was conspicuous as numerous other retired …
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Taiwan Looks to Open Yuan Products to Insurers
Wall Street Journal
By FANNY LIU And CAROL CHAN TAIPEI—Taiwan’s financial regulator has proposed allowing the island’s insurance companies to invest as much as 10% of their overseas investment quota in Hong Kong-listed yuan-denominated bonds, stocks, equity funds and …
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Audi says China, Hong Kong H1 sales up 28 pct yr-on-yr
Reuters
BEIJING, July 6 (Reuters) – Volkswagen AG unit Audi AG said on Wednesday that it sold 140699 cars in mainland China and Hong Kong in the first half, up 28 percent from a year earlier. Sales totalled 27658 units in June, an all-time monthly record, …
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Chinese Brands: Big At Home, Hardly Known Abroad
Forbes
HONG KONG — Chinese brands still have a long way to go in terms of building a strong reputation outside of their home market. In a survey of the most valued brands in Asia conducted by research agency TNS, China’s consumer giants were conspicuous by …
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WarnerTV To Debut Network In Hong Kong On Now TV
WebWire (press release)
Hong Kong – now TV and Warner Bros. International Branded Services announce that the popular WarnerTV linear channel has become available to Hong Kong television audience. The 24-hour general entertainment network, featuring hit TV series and movies …
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The right to fight for the country
China Daily
By Lau Nai-Keung (HK Edition) More than 90 percent of Hong Kong citizens are Chinese nationals, but under “One Country, Two Systems” we are being treated differently. Recently, an issue which came under the media spotlight was whether we can join the …
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China’s BYD, Societe Generale unit end tie-up
AFP
HONG KONG — Chinese car maker BYD, backed by billionaire Warren Buffet, said Wednesday it has ended a joint venture to provide financing for car purchases in China with a unit of France’s Societe Generale. The company signed a 500 million yuan ($77 …
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Hong Kong athletes return from Special Olympics World Summer Games in triumph
7thSpace Interactive (press release)
Hong Kong (HKSAR) – The Hong Kong, China, Delegation that took part in the Special Olympics World Summer Games returned in triumph today (July 6) from the host city of Athens, Greece, having fetched a total of 115 medals, including 58 gold medals, …
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Hong Kong Airlines opens half-price luxury route to London
Monsters and Critics.com
Hong Kong – Hong Kong Airlines Ltd was to launch an all-luxury route to London, undercutting rivals’ business-class prices by more than half, a news report said Wednesday. Three Airbus 330-200 planes equipped only with 18 first- and 98 business-class …
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Hong Kong fashion focuses on the next big things
The Independent
Innovation seems to be the catchphrase being bandied about at this year’s Hong Kong Fashion Week for Spring /Summer – and it’s a word that covers both the styles being shown by Asia’s hottest young designers and the materials they are putting to use in …
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Hong Kong’s Next Heartthrob?
Wall Street Journal (blog)
By Reenita Malhotra Hora When the casting director for British action-comedy “Johnny English Reborn,” starring Rowan Atkinson (aka “Mr. Bean”) and Pierce Brosnan, was assigned to find a Hong Kong actor who had trained in the US and could play jazz …
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HAB responds to PAC Report No 56 on Hong Kong 2009 EAG
7thSpace Interactive (press release)
Hong Kong (HKSAR) – A spokesman for the Home Affairs Bureau today (July 6) said the Government had noted the conclusions and recommendations made by the Public Accounts Committee (PAC) in its report on the Hong Kong 2009 East Asian Games (EAG). …
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Tencent Acquires 15.68 % of Kingsoft in Strategic Investment
MarketWatch (press release)
We have several well-known products such as Kingsoft Office, Kingsoft PowerWord, Kingsoft Internet Security and online games such as “JX Series” On October 9th, 2007, Kingsoft was listed on the Hong Kong Stock Exchange (3888.HK). …
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Hong Kong stocks close down 0.1%
People’s Daily Online
Hang Seng China Enterprises Index, which tracks the so-called Hong Kong-listed Chinese companies, went down 0.24 percent. Turnover shrank to 60.9 billion HK dollars from Monday’s 78.97 billion HK dollars. Among constituent shares, the mainland bank CCB …
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LCQ4: Hong Kong International Airport Master Plan 2030
7thSpace Interactive (press release)
It is projected in the “Hong Kong International Airport Master Plan 2030″ (the Master Plan) that if a third runway is constructed, the practical maximum annual runway capacity will be about 620 000 air traffic movements (ATMs). …
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Buenaventura, Lasangue bag gold in Hong Kong tracks
Philippine Star
By Abac Cordero (The Philippine Star) Updated July 07, 2011 12:00 AM Comments (0) MANILA, Philippines – Manuel Lasangue and Riezel Buenaventura delivered the gold medal for the Philippines in the recent Hong Kong Inter-Cities Track and Field …
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Cecilia Cheung & Nicholas Tse to meet & discuss on their divorce
What’s on Xiamen
He demanded Cecilia Cheung to bring their sons back to the Tse residence before he returns to Hong Kong, when Reversal War wraps its shoot on Friday. Despite his warnings, Cecilia has yet to arrange for the boys’ return to the Tse residence and instead …
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HSBC Names Bill Maldonado Chief Investment Officer For Global Asset Management …
Wall Street Journal
HONG KONG (Dow Jones)–HSBC Holdings PLC (0005.HK) said Wednesday it appointed Bill Maldonado as Chief Investment Officer for its global asset management firm in Asia, with immediate effect. Maldonado, who will relocate to Hong Kong from London in …
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Inflation-tamer iBond set to roll
The Standard
But the Hong Kong Institute of Economics and Business Strategy at the University of Hong Kong predicts it may hit 7 percent in the second half of 2011. Institute executive director Alan Siu Kai-fat said the sale size – up to HK$10 billion in iBonds …
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Hong Kong Residents Encouraged To Recycle At Home
ChinaCSR.com
Hong Kong’s Environment and Conservation Fund has started a recycling program to help consumers separate food waste at home. Housing estates in Hong Kong are encouraged to partner with non-government organizations to hold education and promotion …
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HKU economists revise down Q2 GDP growth projections
China Daily
By Emma An (China Daily) Economists at the University of Hong Kong have lowered their estimates for Hong Kong’s GDP growth in the second quarter of 2011 to 4.6 percent from the previous 5.9 percent as external demand was weaker than expected. …
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Actress says no quarrel before fatal fall
EastDay.com
A WELL-KNOWN Hong Kong actress said yesterday that her husband’s sudden death “was an accident” and denied the couple had a quarrel that led to her husband’s fall from a Shanghai high-rise on Monday. Leanne Liu said in a statement issued yesterday …
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Carson Yeung affair is no distraction, says Birmingham’s Chris Hughton
The Guardian
Yeung, Birmingham’s controlling shareholder, is due to appear in court again in Hong Kong on 11 August, after he was charged last month with five counts of money laundering totalling £59m and covering a six-year period from 2001. …
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Hong Kong, Guadalajara and Kazan bid for worlds
euronews
NEW YORK (Reuters) – Hong Kong, Guadalajara in Mexico and Russia’s Kazan are the only cities to have submitted formal bids to host either the 2015 or 2017 world championships, swimming’ s world governing body FINA announced on Tuesday. …
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Sun Hung Kai’s Lai Sees China’s Yuan Gaining After Rate Increase
Bloomberg
By Fion Li – Wed Jul 06 11:48:44 GMT 2011 Kenix Lai, foreign-exchange analyst at Sun Hung Kai Securities Ltd. in Hong Kong, comments on the People’s Bank of China’s announcement today that it will raise benchmark lending and deposit rates by 25 basis …
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Government to enhance safety regulatory control on escalators
7thSpace Interactive (press release)
Hong Kong (HKSAR) – The Electrical and Mechanical Services Department (EMSD) is deeply concerned about a fatal accident caused by reversed operation of an escalator in aBeijing Line 4 subway station on July 5. The EMSD has requested the Hong Kong MTR …
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RS Feva Worlds: Royal Hong Kong Yacht Club Youth Squad Sailors to compete in …
BYM News (press release)
Tough competition will greet five young Royal Hong Kong Yacht Club (RHKYC) Youth Squad sailors at the RS Feva World Championship being held in the Netherlands this July. The Worlds have capped the number of boats that may enter at 180 and it is …
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Innovative Skincare® Expands Its Asia-Pacific Presence with New Hong Kong…
CisionWire (press release)
6 July, 2011 – Burbank, California USA & Hong Kong – Innovative Skincare®, manufacturer of iS CLINICAL® and INNOVATIVE SKINCARE®, two market leading ranges of clinically validated cosmeceutical skincare formulations, is pleased to announce the …
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Corruption at Customs
Philippine Star
In late 2010, 50 containers of chicken arrived from Hong Kong at Subic port for transshipment to Vietnam. Intercepted by the Bureau of Animal Industry, the ship carrying the containers was ordered to turn around and go back to Hong Kong. …
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Tom Ford Thinks ‘Americans Are Too Fat’
New York Magazine (blog)
Time Out Hong Kong interviewed Tom Ford as he opened a new store in the city. Though it proved to be a delightfully awkward affair, with reportedly a lot of reticence on Tom’s part (not to mention his refusal to tell jokes), he certainly didn’t hold …
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Creative Q&A: Ogilvy & Mather Hong Kong’s Simon Handford
Campaign Asia-Pacific
By Rhandell Rubio on Jul 6, 2011 (8 hours ago) Simon Handford, executive creative director at Ogilvy & Mather Advertising Hong Kong, shares his experiences of packing shelves in a supermarket, looking like Sinead O’ Connor, and the thrill of watching …
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HK Dollar Tad Lower On Weak Stocks, Narrow Range Tipped
Wall Street Journal
HONG KONG (Dow Jones)–The Hong Kong dollar was slightly lower against the US dollar late Wednesday, weighed down by the local stock market’s weak performance. In late Asian trade, the US dollar was at HK$7.7819, up from HK$7.7817 late Tuesday. …
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Moore’s late charge cuts margin to just two in HK
Racing Post
By jeremy greene in hong kong 5:02PM 6 JUL 2011 JOHN MOORE kept the dream alive of a first trainers’ title for 16 years at Happy Valley on Wednesday, when he reduced to two winners the margin between himself and Tony Cruz in the track’s final race of …
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India will avoid a flash crash: SEBI
Reuters India
HONG KONG (Reuters) – India will avoid a flash crash because it has more control of its markets than the US, says a top official from SEBI. We welcome comments that advance the story through relevant opinion, anecdotes, links and data. …
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Amax auditors ‘unable’ to verify results
Macau Daily Times
The auditors believe Amax’s interest in the casino is 24.8 percent and its profit should be reduced in line with the smaller stake, according to a company statement to the Hong Kong stock exchange. “The issued share capital of the associate [Greek …
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CME mulling Asian expansion
Investor’s Business Daily
The top US futures exchange operator is in the review stage of starting a clearing operation for swaps in Hong Kong or Singapore, as it looks to expand internationally amid a push to move over-the-counter deals to clearing houses. …
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App Store Analytics Startup App Annie Gets Backing From IDG, Preps Premium Service
TechCrunch
App Annie, a Hong Kong-based provider of app store analytics and marketing intelligence for Apple’s App Store, has raised an undisclosed amount in a Series A funding round led by IDG Capital Partners, the China-focused VC fund backed by IDG and Accel. …
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PRU Spins Off Commodities Biz Unit
Daily Markets
Prudential’s global commodities business consisted of US-based FCM, Prudential Bache Commodities, LLC; the broker dealer, Prudential Bache Securities, LLC; UK-based Bache Commodities Limited; and Hong Kong-based Bache Commodities (Hong Kong) Ltd. All …
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SouthGobi Receives Mining License for Soumber Deposit
MarketWatch (press release)
HONG KONG, CHINA, Jul 06, 2011 (MARKETWIRE via COMTEX) — SouthGobi Resources Ltd. /quotes/zigman/38823 CA:SGQ +0.65% (sehk:1878) announced today that the Mineral Resource Authority of Mongolia (MRAM) has issued mining license MV-016869 to its …
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Hong Kong Airlines Selects AsiaPay as Its Trusted Online Payment Service Provider
istockAnalyst.com (press release)
HONG KONG, July 6, 2011 /PRNewswire-Asia/ — Hong Kong Airlines Limited selects AsiaPay as its secure electronic payment processing solution provider for its online booking system. AsiaPay provides Hong Kong Airlines’ online booking system with its …
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