Hong Kong Informer

LONDON (AP) — HSBC PLC, Europe’s biggest bank by market value, saw its profits more than double in the first quarter as it booked fewer bad loans than in the same period last year and reaped the benefits of recent restructuring measures. The bank, which has a big presence in many parts of the world [...]

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Hong Kong Disneyland reported a net profit of HK$ 109 million for the year ended September 29, 2012, attributing the results to record revenues driven by timely expansion, strong sales and marketing strategies, and effective cost … Full News here – Hong Kong News latest RSS headlines – Hong Kong News.net

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HONG KONG (AP) — ICBC, China’s biggest state-owned commercial lender, posted slower profit growth last year as the economy slowed and the government reformed interest rates. Industrial & Commercial Bank of China Ltd. said Wednesday it earned 238.7 billion yuan ($ 38.4 billion) in 2012. That’s 14.5 percent higher compared with the year before, but [...]

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HONG KONG (AP) — ICBC, China’s biggest state-owned commercial lender, posted slower profit growth last year as the economy slowed and the government reformed interest rates. Industrial & Commercial Bank of China Ltd. said Wednesday it earned 238.7 billion yuan ($ 38.4 billion) in 2012. That’s 14.5 percent higher compared with the year before, but [...]

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BOC Hong Kong (Holdings) Ltd. (2388.HK), the Hong Kong arm of Bank of China Ltd. (3988.HK), said Tuesday that 2012 net profit hit a record high on the back of an increase in net interest income.Net profit for the 12 months ended Dec. 31 totaled HK$ 20.93 billion (US$ 2.7 billion), up from HK$ 20.43 [...]

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HONG KONG (AP) — Billionaire Li Ka-shing’s Hong Kong conglomerate Hutchison Whampoa said Tuesday that profit last year fell by about half compared with the previous year when income was inflated by a huge one-time gain. Hutchison said it earned HK$ 26.1 billion ($ 3.7 billion) in 2012. That’s down from HK$ 56 billion ($ [...]

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HONG KONG (AP) — Chinese energy company CNOOC says profit last year fell 9.3 percent because of higher costs for exploration and for operating in Canada’s oil sands. CNOOC said Friday that profit fell to 63.7 billion yuan ($ 10.2 billion) in 2012 from 70.3 billion yuan the year before. Revenue climbed 3 percent to [...]

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HONG KONG (AP) — State-owned CNOOC, which made China’s biggest-ever overseas energy acquisition last year, said Friday that annual profit fell 9.3 percent because of higher costs for exploration and for operating in Canada’s oil sands. CNOOC Ltd.’s $ 15.1 billion purchase of Canadian energy producer Nexen was part of a broader trend of Chinese [...]

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HONG KONG (AP) — China Unicom Ltd., the country’s second biggest mobile phone company by subscribers, said Thursday that 2012 profit jumped by more than two-thirds as revenue from third-generation mobile services surged despite stiff competition. The Beijing-based company said it earned 7.1 billion yuan ($ 1.1 billion) last year, up 68 percent from 4.3 [...]

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HONG KONG (AP) — State-owned China Telecom Corp. said Wednesday that profit fell 9.5 percent last year because it spent more to market the iPhone as it battled rivals for higher-paying customers. China Telecom, which is also the world’s biggest fixed-line phone operator by subscribers, rolled out service for the Apple Inc iPhone in the [...]

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Hong Kong Disneyland posts first annual profit It took seven years and a little help from Toy Story and Grizzly Gulch, but Hong Kong Disneyland has finally broken into the black. The theme park, which opened in 2005 amid much fanfare and hopes of cashing in on the rising middle-class in mainland … Full News [...]

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HONG KONG (AP) — State-owned phone carrier China Mobile says profit rose just 2.7 percent last year as it grappled with fierce competition and higher costs. The Beijing-based phone company said on Thursday that it earned 129.3 billion yuan ($ 16.7 billion) in 2012. Revenue climbed 6.1 percent to 560.4 billion yuan ($ 72 billion). [...]

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Cathay Pacific Airways said its annual profit tumbled by over 80% because of high jet fuel prices, global economic uncertainty and weak demand for air cargo. Revenues for the year edged up 1%. Hong … Full News here – Hong Kong News latest RSS headlines – Hong Kong News.net

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* H2 net profit at HK$ 1.85 bln vs avg forecast HK$ 1.95 bln * 2012 yearly net dived 83 pct to HK$ 916 mln * Cathay says 2013 remains challenging on high costs, competition By Alison Leung HONG … Full News here – Hong Kong News latest RSS headlines – Hong Kong News.net

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Hong Kong-based Cathay Pacific has posted a 83% plunge in profits amid higher fuel costs and a drop in demand for corporate travel. The carrier made a net profit of 916m Hong Kong dollars ($ 118m; … Full News here – Hong Kong News latest RSS headlines – Hong Kong News.net

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