By Salman Siddiqui in The Express Tribune, June 15th, 2017. KARACHI: China’s state-owned Shanghai Electric Power Company Limited has reaffirmed its commitment to go ahead with its plan of acquiring K-Electric from Dubai-based Abraaj Group, brushing aside all rumours regarding its possible retreat from the $1.77 billion business deal. “We have received today [Wednesday] a copy of the fresh public announcement of intention for acquisition (directly or indirectly) or up to 66.40% of the voting…
Posts published in “Day: June 15, 2017”
By Liu Jianxi and Leng Shumei in Global Times, June 15, 2017 A Pakistan official said Wednesday that they will “bring to justice” those responsible for kidnapping two Chinese citizens in Pakistan. He also warned of the incident being used by “whoever” to disrupt Sino-Pakistan ties. Chinese foreign ministry spokesperson Lu Kang said at a press conference Wednesday that China had not received official confirmation from Pakistan of the deaths of the two Chinese nationals…
by Frank Tang & Nectar Gan in South China Post, June 15, 2017 The reported detention of Anbang Insurance chairman Wu Xiaohui could be a milestone in efforts to take on vested interests – many with connections to the political elite – in China’s financial sector, paving the way for reform, analysts say. Wu is the latest figure said to have been detained for investigation in a financial industry crackdown which began after a stock…
by Zheng Yangpeng in South China Post, June 14, 2017 at 11.29 pm Connectivity within the Chinese banking system is growing, a new report has warned, increasing financial contagion risk across the sector as a whole, if any companies were to suffer serious distress. The study, by top Chinese securities company Everbright Securities, released on Wednesday, highlighted national joint-stock commercial banks, as well as some city commercial banks, as accounting for 40 per cent of…
Report in The daily Star, Jun 15, 2017 The process of signing a loan agreement with China to implement the Padma Bridge Rail Link Project is underway, Railways Minister Mazibul Hoque told the Jatiya Sangsad yesterday. In reply to lawmakers’ queries, he said work on the physical infrastructure of the project would begin once the deal was inked. In a scripted reply, Mazibul also said the government took up the project to construct the rail…