The Industrial and Commercial Bank of China (ICBC) said Thursday it is to issue 25 billion yuan (3.68 billion U.S. dollars) of convertible bonds next Tuesday. The bonds convertible into yuan-denominated Shanghai-listed A shares will be six years in term from Aug. 31 2010 to Aug. 31 2016, said a statement by the ICBC to the Shanghai Stock Exchange. The bonds are priced 4.2 yuan per share and the interests …Read the Rest
China’s industrial profit up 61.1% in first seven months
Profits of Chinese industrial enterprises in 24 regions climbed 61.1 percent year on year to 1.88 trillion yuan (275.90 billion …Read the Rest
Mexico’s largest airline to shut down on Saturday
Mexico’s debt-laden airline Compania Mexicana de Aviacion will cease all operations on Saturday, senior government officials announced Friday. The largest …Read the Rest
Mexicana Airlines halts flights worldwide
With an uncertain future, Mexico’s biggest airline and the biggest foreign carrier at Los Angeles International Airport (LAX) ceased operations …Read the Rest
Nikkei rises 1.17% off 16-month lows, China PMI lends support
Tokyo stocks rebounded Wednesday, with the key Nikkei stock index gaining 1.17 as robust Chinese manufacturing data and strong economic …Read the Rest
News Analysis: Yen to remain strong amid dismal expectations for world economy
Analysts predict the Japanese yen will stay high for some time, as worries about the prospect of a weak global …Read the Rest
Gold pulls back from 2-month high as safe-haven demand fizzles
Gold futures on the COMEX Division of the New York Mercantile Exchange fell below its fresh 2-month high and ended …Read the Rest
More Californians concerned about job environment, less about financial woes
Nearly half of respondents believed the stagnant labor market is the state’s most pressing problem and many people plan to …Read the Rest
Canadian major bank CIBC completes new acquisition of MasterCard portfolio
The Canadian Imperial Bank of Commerce (CIBC), one of the country’s five major banks, announced on Wednesday that it has …Read the Rest
Brazil reports lower figures in trade surplus
Brazil registered a trade surplus of 11.673 billion U.S. dollars in the first eight months of the year, down 41.6 …Read the Rest
U.S. stocks enter September with big rally
Leaving the worst August in ten years behind, the U.S. stocks started September with a strong rally on Wednesday as …Read the Rest