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World’s biggest pension fund adds US$39bil as stocks rise

TOKYO: The world’s biggest pension fund posted its fifth straight quarterly gain, the longest run in more than two years, as global stocks advanced to new highs and weakness in the yen helped boost the value of overseas investments.


PetroChina’s Q3 net profit leaps

BEIJING: China’s largest oil and gas producer PetroChina reported on Monday a leap in third-quarter net profit on rebounding crude prices and deleveraging.


China’s inflation flirtation won’t cut debt

CHINA is witnessing something most of the world’s major economies haven’t seen in quite some time: rising prices.


Breakfast briefing: Monday, October 23

Breakfast briefing: Monday, October 23


Banking regulator and Hubei chief front runners to head PBoC

CHINA’S top banking regulator Guo Shuqing and veteran banker Jiang Chaoliang are front runners to succeed Zhou Xiaochuan, the country’s longest-serving central bank head who is likely to step down next year, according to multiple sources familiar with the matter.

Corporate News

Evergrande property magnate seizes top spot on China rich list

SHANGHAI: China has a new richest man, according to the annual Hurun rich list of the country's top movers and shakers.


Wall St treads water; financials drop ahead of reports

NEW YORK: Wall Street’s main indexes were little changed at open on Wednesday, as a jump in shares of consumer staples were offset by a drop in financials on the eve of their financial reports.


Reliance Communications aborts Aircel deal in debt-cut blow

MUMBAI: Reliance Communications Ltd.’s plan to merge with Aircel Ltd. collapsed in a blow to the Indian mobile phone carriers’ plans to pare debt and gain scale to take on bigger rivals.


Commodity trader Noble again extends US$2b credit line

BENGALURU: North American lenders to Noble Group have again extended the deadline for a US$2 billion credit facility, this time by three months to Jan 15, the commodity trader said on Thursday.


China's Sunac says to slow down land purchases, cut debt

HONG KONG: Sunac China Holdings Ltd plans to slow the rate of land purchases to boost profit and cut debt, a top executive said on Friday, a day after the country's sixth-largest property developer by sales reported a tripling in half-year earnings.