RSS Feed
Shanghai Chengtou Holding Co., Ltd. and Ping An Insurance (Group) Company of China Ltd. on May 13 signed an agreement to jointly launch a social security housing bond investment plan to raise not more than CNY 3 billion, which will be used to fund the former’s social security housing project in Shanghai. This is the [...]
Archive for May, 2011
Posted in 
Social Security Fund May Be PICC Group Strategic Investor
Posted by gary on May 16th, 2011
The People’s Insurance Company of China Group (PICC Group), a leading insurance conglomerate in the nation, is said to settle down the matters on the introduction into strategic investors although there is no specific time for an overall listing. PICC Group Chairman and President Wu Yan said on May 13, 2011 his group will disclose [...]
A fare fight for taxi drivers at Port Canaveral
Posted by gary on May 16th, 2011
Pat Barnett has been a taxi driver at Port Canaveral nearly 18 years, shuttling cruise ship passengers back and forth to local hotels and Orlando International Airport. The 67-year-old Barnett is deeply proud of the care and money she puts into her taxi, a silver 1997 Mercury Grand Marquis. The work is not overly difficult, [...]
Zheshang P&C to Enter Shanghai Market
Posted by gary on May 13th, 2011
Zheshang Property and casualty insurance Co., Ltd. (Zheshang P&C) has formally entered Shanghai market, in an effort to branch out into the whole nation. As planned, the registered capital of the Hangzhou-based non-life insurer will be added to CNY 2 billion this year. In addition, insiders disclosed that the property insurer has already opened 10 [...]
Manulife-Sinochem Opens Branch in Xiamen
Posted by gary on May 13th, 2011
Manulife-Sinochem life insurance Co. Ltd., one of the joint venture life insurance firms in China, opened a branch in Xiamen, a major city in Fujian province, southeast China, on May 10. The branch, set up by Manulife-Sinochem after those in Guangdong, Shenzhen, and Fujian, marks the Sino-foreign life insurance joint venture’s further expansion in the [...]
Jackson posts $1.9 million loss in March
Posted by gary on May 13th, 2011
Jackson Health System is showing some short-term financial improvement, but huge problems will come next year because of cutbacks made in the just-concluded session of the Florida Legislature, executives said Thursday. At an unusual public meeting intended to bridge the change from the system’s old governing board to its new one, four members of the [...]
If you smoke, Venice probably doesn’t want to hire you
Posted by gary on May 13th, 2011
VENICE – Smokers need not apply for city jobs under a tough new employment policy the City Council is considering. Applicants who smoke cigarettes or cigars or chew tobacco will not be considered for employment no matter how much they are otherwise qualified. And potential hires have to sign an oath they do not use [...]
BOC Q1 Net Interest Income Up 20%
Posted by gary on May 5th, 2011
Bank of China (BOC, SHSE: 601988, SEHK: 3988), one of the Big Four state lenders in the country, recorded CNY 33.439 billion in net profit and CNY 0.12 in earnings per share in the first three months this year, up 27.75 percent and CNY 0.02 over the period of last year, in terms of its [...]
16 Banks Achieved CNY 677bn in 2010 Net
Posted by gary on May 5th, 2011
So far, 16 listed Banks of China have published their annual reports for 2010. These lenders jointly achieved the net profit of CNY 677.4 billion in 2010, up 33.5% year on year. Among them, China Everbright Bank (SHSE: 601818) ranked the first place with 67% profit growth. What’s more, the loan growth of 11 listed [...]
Bank of Nanjing 2010 Net Profit Surges 49.7%
Posted by gary on May 5th, 2011
Bank of Nanjing reaped CNY 2.311 billion net profit attributable to shareholders in 2010 fiscal year, representing a year-on-year rise of 49.7%. Basic earnings per share surged 47.54% to CNY 0.9. The lender’s deposits increased by 36.81% year on year and loans rose by 25.16% in 2010. Net interest spread was 2.55% at the end [...]
China Everbright Bank OKed to Kick off 12bn Share Offering
Posted by gary on May 5th, 2011
China Everbright Bank Co., Ltd. (SHSE: 601818), one of the commercial lenders in the country, announced yesterday that it had gained go-ahead from the country’s top securities regulatory authority to sell up to 12 billion shares in its initial public offering (IPO) in Hong Kong. China Everbright Bank, whose IPO plan had won greenlight from [...]
China Minsheng Banking OKed to Open 3 Village Banks
Posted by gary on May 5th, 2011
China Minsheng Banking Corporation Ltd. (SHSE: 600016) has gained approval from the China Banking Regulatory Commission (CBRC), the country’s top banking regulatory authority, to open three village Banks in the country. The three Banks will set foot in Jiading, a district in Shanghai, Penglai, a city in Shandong province, and Anxi, a county in Fujian [...]
