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Chinese giant Citic list in Hong Kong through local unit

Chinese conglomerate Citic Group, whose businesses span property, resources and banking, plans to shift its vast assets into its Hong Kong-listed unit in a multi-billion-dollar deal that will help it tap overseas investment. The country's largest state-run conglomerate will hand all its shares in Citic Limited -- its operating company with unaudited assets worth about $36.2 billion at the end of last year -- to Hong Kong unit Citic Pacific.

China's ICBC 2013 full-year net profit up 10.2%

The Industrial and Commercial Bank of China, the country's biggest lender by assets, said on Thursday its net profit rose 10.2 percent last year, amid "still-complicated" global economic situation. The bank, a symbol of the nation's financial might, reported in a filing to the Hong Kong Stock Exchange that its 2013 net profit to be 262.97 billion yuan ($42.32 billion), compared to 238.69 billion yuan in 2012.

Chinese giant Citic list in Hong Kong through local unit

Chinese conglomerate Citic Group, whose businesses span property, resources and banking, plans to inject its vast assets into its Hong Kong-listed unit in a multi-billion-dollar deal that will help it tap overseas investment. The country's largest state-run conglomerate will hand all its shares in Citic Limited -- its operating company with unaudited assets worth about $36.2 billion at the end of last year -- to Hong Kong unit Citic Pacific.

Hong Kong stocks open 0.76% higher

Hong Kong shares climbed 0.76 percent in the opening exchanges on Wednesday after Wall Street provided a positive lead to cap off two straight losses. The benchmark Hang Seng Index rose 165.75 points to 21,898.07. dan/jw

Hong Kong stocks open 0.76% higher

Hong Kong shares climbed 0.76 percent in the opening exchanges on Wednesday after Wall Street provided a positive lead to cap off two straight losses. The benchmark Hang Seng Index rose 165.75 points to 21,898.07. dan/jw

Hong Kong stocks up 1.03% at open

Hong Kong shares opened 1.03 percent higher on Monday as investors await the release of Chinese manufacturing data. The benchmark Hang Seng Index rose 220.85 points to 21,657.55. dan/jw

Temasek to buy 24.95% of Li's Watson for US$5.67 bn

Asia's richest man Li Ka-shing announced Friday that a Singapore state investment fund had agreed to buy just under 25 percent of his flagship retail chain, in a deal worth more than US$5.6 billion. Singapore's Temasek will purchase 24.95 percent of A.S. Watson -- part of Li's vast Hutchison Whampoa conglomerate -- for HK$44 billion ($5.67 billion), a Hutchison statement said, calling it a "strategic alliance".

Temasek to buy 24.95% of Li's Watson for US$5.67 billion

Asia's richest man Li Ka-shing announced Friday that a Singapore state investment fund had agreed to buy just under 25 percent of his flagship retail chain, in a deal worth more than US$5.6 billion. Singapore's Temasek will purchase 24.95 percent of A.S. Watson -- part of Li's vast Hutchison Whampoa conglomerate -- for HK$44 billion ($5.67 billion), a Hutchison statement said, calling it a "strategic alliance".

Temasek agrees to buy stake in A.S.Watson for $5.7 billion

HONG KONG (Reuters) - Singapore state investor Temasek Holdings <TEM.Ul> has agreed to buy a 24.9 percent stake in Li Ka-shing's retail business A.S. Watson for about HK$44 billion ($5.7 billion). Li's Hutchison Whampoa <0013.HK>, which owns A.S Watson, said in a statement on Friday that it would use part of the proceeds from the stake sale to pay a special dividend of HK$7.00 per share to its shareholders.

Li & Fung shares surge 19 percent on upbeat earnings, spin-off plan

By Donny Kwok HONG KONG (Reuters) - Shares of global sourcing firm Li & Fung Ltd <0494.HK> jumped to their highest in more than a year on Friday as investors cheered better-than-expected earnings and focused on a new three-year plan that includes spinning off its brands and licences unit.
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