China

Financial News

Cathay Pacific Has $980 Million Unrealized Fuel-Hedging Loss on Price Fall Cathay Pacific Airways Ltd., Hong Kong’s largest carrier, will report unrealized fuel-hedging losses of HK$7.6 billion ($980 million) after fuel prices tumbled 70 percent in less than six months.

Hong Kong Stocks Fall, Led by Banks; China Unicom Drops on Cost Concerns Hong Kong stocks fell, led by China Construction Bank Corp., after Bank of America Corp. said it is selling up to $2.8 billion of shares and mobile-phone companies slid on concern newly won Chinese licenses will raise costs.

Asian Economies to Have V-Shaped Rebound After `Apocalypse,' BNP Predicts Asian economic growth, after slowing this year, will probably rebound in 2010 as government spending and interest rate cuts spur demand, BNP Paribas SA said today

Li Ka-shing Seeks $524 Million From Bank of China Shares; Merrill Managing Hong Kong billionaire Li Ka-shing is raising as much as HK$4.06 billion ($524 million) selling shares in Bank of China Ltd., the nation’s third-largest bank by market value, according to a stock sale document.

Bank of America Has Sold $2.8 Billion of Shares in China Construction Bank Bank of America Corp. sold $2.8 billion of China Construction Bank Corp. shares to replenish capital after completing the biggest financial-services acquisition announced in 2008.

China Faces `Arduous Task' in Keeping Growth Steady, Vice Premier Li Says China faces an ``arduous task'' of keeping the economy on a steady growth path this year as the impact of the global financial crisis spreads, the official Xinhua News Agency said, citing Vice Premier Li Keqiang.

Asia-Pacific Bond Risk Falls to Lowest Since November, Default Swaps Show The cost of protecting bonds from default fell to the lowest since November in Australia and Asia as government efforts to stimulate economic growth boosted investor confidence.

PetroChina's Biggest Refinery Processed 7 Percent More Crude Oil Last Year PetroChina Co. increased crude-oil processing at its biggest refinery by 7 percent to a record last year after new units started operations.

General News

China Pledges to Help Graduates Get Work as Job Losses Threaten Stability China’s cabinet announced measures to help graduates find jobs as unemployment rises because of a deepening slowdown in the world’s fourth-biggest economy.

South Koreans Quit China for Home as Yuan's Gain Increases Cost of Living Kim So Hyun came to China to study medicine in 2004. Now, she may join the tens of thousands of South Koreans who went home last year as the yuan strengthened against the won, raising the cost of living.

Torture, Secrets, Glamour Fuel Novel of Wartime Hong Kong: Craig Seligman One man, two women. Wartime, danger, betrayal, torture. Bejeweled parties, sumptuous gowns, reptilian scheming, illicit love.

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