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Loss-making Japanese electronics manufacturer Sanyo Electric Co may sell its credit unit to generate cash for restructuring and help reduce its mountain of debt, analysts said.
News in brief, including from Hong Kong that PCCW Ltd, the territory's dominant fixed-line phone company, said yesterday that talks on selling a stake in its core subsidiary to China Netcom are at an advanced stage, boosting the unit's bonds on hopes that a deal would cut debt.
Five years into an oil price boom, social tensions and growing populations mean Organisation of Petroleum Exporting Countries (Opec) states need to invest more heavily, but public sector spending is eroding the windfall and storing problems for the future.