Foreign business news in brief

Boeing plans US$100m Shanghai venture  


BEIJING: Boeing Co plans to set up a US$100mil aircraft repair and maintenance joint venture with local partners in Shanghai later this year, the China Daily reported, quoting the US company’s chairman and chief executive officer (CEO). 

Philip Condit was quoted as saying in Beijing that Boeing would step up its investment and expansion in China. He said Boeing would focus on cooperation in China, one area of which could see the country playing a part in the development of the company's proposed 7E7 jetliner, due for launch in 2008. – AFX 


Asia Aluminum to invest in HK$3b project 


HONG KONG: Asia Aluminum Holdings Ltd, the largest aluminum extruder in Asia, plans to invest in a HK$3bil aluminum panel plant to be built in southern China, to take advantage of an expected surge in demand from the country's motor vehicle making industry.  

CEO Benby Chan said the project, in which Asia Aluminum would take a 60% stake, could boost the firm’s revenue and earnings by 200% for the 2005/06 fiscal year from the last fiscal year, for which it posted a net profit of HK$131mil on turnover of HK$1.97bil. – Reuters 


HKMA names Ryback as deputy chief 


HONG KONG: The Hong Kong Monetary Authority (HKMA) said William Ryback, a former director of the US Federal Reserve, would replace David Carse as its deputy chief executive. Ryback would assume the post in late August and take charge of banking policy and supervision in Hong Kong, the HKMA said in a statement posted on its Web site. – Reuters  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Next In Business News

CPO futures to see volatile trading next week, eyes on MPOB data
Pfizer, BioNTech seek US emergency nod for COVID-19 vaccine in adolescents
Eyes on next generation as Singapore succession is thrown into question
Oil price falls, ends week about 2% lower on supply increase, new lockdowns
BlackRock, Mustier's blank-check firm eye Credit Suisse fund management arm
GLOBAL MARKETS-S&P 500, Dow scale new heights, Treasury yields rise on strong inflation data
Mah Sing: Extend HOC until year-end
Kerjaya Prospek wins RM154mil construction job
MCMC expects DNB to open 5G tender soon
Ramsay Sime Darby Health Care acquires Manipal Hospitals

Stories You'll Enjoy