InfoAnda - Citic Pacific gets $1.5 bln bailout from parent

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Britain set for record low interest rates | 8 January 2009
Celeb tweets make impact on top stories in 2010 | | 7 January 2011
Seoul shares fall 0.6 pct on econ jitters | 25 June 2010

Daily Deal frenzy jolts local online ad market | | 10 October 2011

">Forum Views () ">Forum Replies ()

Read more with google mobile : Citic Pacific gets $1.5 bln bailout from parent

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Citic Pacific gets $1.5 bln bailout from parent By DIKKY SINN,Associated Press Writer AP - 2 hours 19 minutes ago HONG KONG - Citic Pacific Ltd., the Hong Kong arm of a Chinese government investment company, said it has secured a $1.5 billion bailout from its parent company to cover losses from bad currency bets. Beijing-based Citic Group has agreed to provide a standby loan of 11.6 billion Hong Kong dollars ($1.5 billion) which would be replaced by a convertible bond of the same value, Citic Pacific said in a statement filed to Hong Kong stock exchange late Wednesday. Citic Group will also assume all liabilities from Citic Pacific's bad bets against the U.S. dollar from leveraged foreign-currency contracts, the statement said. Shares of the company jumped 5 percent to HK$6.36 in early trade Thursday after it resumed trading. The stock was suspended from trading since Oct. 31. Citic Pacific, a Hong Kong-listed conglomerate with businesses ranging from airlines to mining to Wal-Mart stores, said last month it stood to make significant losses after bets on the Australian dollar_to hedge the costs of supplies and equipment for an Australian iron-ore operation_and other currencies went bad. Total losses from all contracts are estimated at HK$16.8 billion ($2.17 billion) as of Tuesday, according to the statement. In a separate statement, Citic Pacific said the loan facility would provide the company with a sound financial platform to "continue its operation with an appropriate level of debt." "We can now move on and begin to put the recent unfortunate event behind us," said chairman Larry Yung. Citic Pacific is under investigation by the territory's securities watchdog, the Securities and Futures Commission, and the company that runs the Hong Kong Stock Exchange, for a delay in disclosing the losses. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Shareholders approve Australian bank acquisitionAP - 1 hour 4 minutes ago Malaysia c.bank delays govt bond sale resultsReuters - 1 hour 13 minutes ago European indexes seen sinking as worries mountReuters - 1 hour 14 minutes ago Dubai property giant Emaar says reviewing jobsReuters - 1 hour 20 minutes ago TOPWRAP 2-Japan to offer funding for IMF as gloom deepensReuters - 1 hour 23 minutes ago Most Popular – Business Viewed Ancient 4,300-year-old pyramid discovered in Egypt Your favorite music = happy heart: study Britney Spears's son hospitalized: statement Economic gloom mounts ahead of finance crisis summit Oil price dives under 55 dollars per barrel in London View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Wednesday, 12 November 2008
Four Palestinians dead in Gaza border clashes
China scrambles to build homes for quake survivors | International |
4 dead as Israelis, Palestinians battle in Gaza
Islamist fighters take over key Somali port
Sudan's Bashir declares Darfur ceasefire | International |
Iraqi forces arrest top 'butcher' in deadly province
Mayor-elect vows to bolster Israel's 'undivided' capital
German economy will grind to halt in 2009, say experts
EU breaks car glass cartel with 1.4-billion-euro fine
Kandahar blast kills three
Unpopular Swiss defense minister resigns | International |
ING reports first ever quarterly loss
Russia rejects U.S. missile proposals | International |
Olmert's change from hawk to dove seems complete
Secular Jew wins Israel's mayoral vote in Jerusalem | International |
China cuts export taxes to spur economic growth
Iran test-fires new missile, Israel within reach | International |
Mobile operator DoCoMo to buy stake in Tata
Hong Kong's stock market dips amid economy fears
Afghan leader's brother escapes suicide blast unhurt | International |
Pakistan hikes rates sharply, as IMF advised
Somalia's al Shabaab seize port near capital | International |
Hong Kong lawmakers debate Lehman probe
Report: Singapore won't bail out Sands project
Urgent regulation needed for nanomaterials: experts | Technology |
Report: GM may up stake in Chinese joint venture
S.Korea c.bank may fund mortgage purchases -official
China shares up, extending gains on stimulus plan
Taiwan dlr at near 2-wk low on funds, importers
Diane Warren the go-to songwriter for film, TV | Entertainment |
Shaolin the first Broadway spotlight on China | Entertainment |
4 Gaza militants dead in clash with Israeli troops
Iraqi soldier kills two U.S. soldiers | International |
Intel cuts fourth quarter revenue projections
Iran tests precision missile able to reach Europe
Whales lose as top US court says Navy can keep sonar
US moves to crack down on Internet gambling
North Korea will not let nuclear samples out of country | International |
Other ancient sites, museums in Iraq
WTO warns trade finance 'deteriorating' amid financial crisis
Google Earth rebuilds ancient Rome online
Iraq: Can ancient Babylon be rescued?
Earth would be heading to a freeze without CO2 emissions
IT spending to slow in 2009: IDC
Saudi king promotes tolerance at U.N. forum | International |
Four Palestinians dead in flare-up on Israel-Gaza border
Firms scan brain waves to improve ads in Japan
Four Palestinians dead in flare-up on Israel-Gaza border
Zimbabwe's ZANU-PF asks Mugabe to form new govt | International |
Could Obama victory lead to Iran talks?
Google tracks flu outbreaks through search queries
German economy will grind to halt in 2009: experts
US drops plans to purchase toxic mortgage assets
Iraqi soldier kills 2 US troops in dispute
Microsoft near deal with Verizon for cellphone search
British scientists in urgent call for nanoparticles research
Canada reporter says swapped for Afghan prisoners | International |
Spate of Iraq attacks leaves 23 dead
Pentagon launches TroopTube, its own YouTube
EU to allow 'wonky' fruit and veg on supermarket shelves
Kurd-Arab tensions may threaten Iraq calm | International |
Baghdad blast kills at least 12, wounds 60
Second school collapses in Haiti, nine hurt | International |
Japan greenhouse gas emissions far exceed target
Gold mine collapse kills 14 in Guinea: witness | International |
NZ retail sales fall in Q3, more rate cuts seen
General: tribes might help with Afghan security
China and Russia suspend pipeline talks
YouTube ventures into live event webcasting | Technology |
US shipping fuel oil to North Korea in nuke deal
LG, Sharp, Chunghwa fined 585 mln dlrs for price-fixing
LG, Sharp, Chunghwa to plead guilty to price-fixing
Analysis: For Obama, what to do about Iran nukes?
Flip camcorder moves up to HD | Technology |
India industrial output up but tough times ahead: economists
Dell chief technology officer to leave in January | Technology |
World markets hit hard by recession fears, corporate woes
Google phone costs $144 in materials: iSuppli | Technology |
Hong Kong lawmakers vote for Lehman Brothers probe
China to boost export tax incentives as it battles crisis
Google adds video and voice chat to Gmail | Technology |
NTT DoCoMo, Tata agree on mobile phone alliance
Philips develops intelligent pill | Technology |
Morocco film festival to honour Weaver and Yeoh
Fan of Paula Abdul found dead near TV star's home | Entertainment |
Deputies investigate battery claim against Garrett
Jimi Hendrix drummer Mitch Mitchell dies at 62 | Entertainment |
Idol David Cook says CD comes out guns blazing | Entertainment |
Bush to write book; Palin may steal limelight | Entertainment |
Anne Hathaway's ex sick in filthy jail: lawyer | Entertainment |
R.E.M. makes last Brazil gig an Obama celebration | Entertainment |
Twilight bumps AC/DC from top of album chart | Entertainment |
Edinburgh shows span Richter, reveal Caravaggio | Entertainment |
Writer Bryce Courtenay has no plans to slow down | Entertainment |
Suicide attack kills US soldier, ten Afghans: officials
Qualcomm to link people to Internet without computers
China mulls crackdown on lip-synching
Jimi Hendrix drummer Mitchell dead at 62: official
US shifts rescue away from buying toxic mortgage assets
North Korea using strong-arm nuclear tactics: Seoul | International |
Taiwan ex-president on hunger strike over arrest | International |
Twenty Afghans killed in suicide blast | International |
Iranian diplomat kidnapped in Pakistani city | International |
Qualcomm to link people to Internet without computers
US military deaths in Iraq war at 4,195
Financial crisis biggest threat to security: report | International |
China will boost productivity to ensure grain
China's industrial output slows sharply in October: govt
Pakistani c.bank sells 39.7 bln rupees of T-bills
U.S. rules out sabotage in Mexico minister air crash | International |
S.Korea says fresh FX liquidity injection "enough"
S.Korea won down 2.3 pct to post 2-wk closing low
Electronic Arts debuts fitness video game for Wii | Technology |
Google to let businesses generate more search pages | Technology |
S.Korea to provide $16 bln for trade financing
Microsoft's new Windows Live aims to be hub for Web | Technology |
Citic Pacific gets $1.5 bln bailout from parent
S.Korean won extends falls; recession fears grow
Intel's shock warning sounds alarm for tech sector | Technology |
AMD announces fast, energy-saving chip | Technology |
US abandons plan to buy toxic assets
NZ dollar off lows on Aussie intervention; debt firm
Emerging countries looking for equal say at G20 summit
Thai True Move in deal with Apple to sell 3G iPhone | Technology |
New Bond film heads to U.S. | Entertainment |
Kenny Chesney wins country music entertainer award | Entertainment |
Fan of Paula Abdul found dead near TV star's home | Entertainment |
Fox cancels MadTV after 14 seasons | Entertainment |
Quantum of Solace set to blast U.S. box offices | Entertainment |
Simpsons veteran makes a date with Showtime | Entertainment |
Flea, Johnny Marr on new Frusciante album | Entertainment |
Billy Joel, Elton John touring together again | Entertainment |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01