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TODAY'S CEO OUTLOOK 2003 features two CEOs in the hotel sector and one in the information technology (IT) industry
Citibank, a unit of US financial titan Citigroup Inc, will pay about 600 million yuan (US$72mil) for a 5% stake in Shanghai Pudong Development Bank in its first strategic partnership in the potentially huge China market.
Bank of China president Liu Mingkang will step down to take charge of a new banking regulatory body expected to be split off from the central bank later this year, according to banking and government sources.
ALEXANDER Jovanovic, who studied to be a registered nurse in Australia, ended up instead working as a hotelier.
The biggest life insurer in the United States New York Life Insurance is planning an aggressive expansion to make China its largest overseas market, according to state press.
THE president and CEO of Siemens AG, Dr Heinrich von Pierer, arrived in Kuala Lumpur yesterday for a two-day visit during which he will have discussions with Malaysian government officials and businessmen on economic issues and possible joint ventures.
News Corp#8217;s year-old Mandarin-language TV channel is set to gain new rights from Beijing which will expand its broadcast area in China to selected venues throughout the country, according to an industry source.
Foreign firms invested a record US$52.7bil in China in 2002 and may pour in even more this year, lured by cheap labour and an economy that has defied a global slowdown, economists said yesterday.
Global banking giant HSBC will take a 15% stake in the Bank of Communications, China#8217;s fifth largest bank, a Beijing-backed newspaper reported yesterday.
Foreign business news in brief including from Helisinki that Finnish telecoms equipment maker Nokia has won contracts worth more than US$70mil to expand a GSM network and services for Beijing Mobile Communications Co Ltd.