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In Brief

In Brief

EU approves sale of Packard Bell
EU regulators approved the purchase of Netherlands-based PC maker Packard Bell BV by Taiwan's Acer Inc. on Wednesday.
The European Commission said the deal did not pose competition concerns on the European market because it remains filled with other big players like Lenovo, Sony, Dell and others.
U.S.-based Gateway Inc., which was also recently bought by Acer, announced in October it would purchase Packard Bell. The financial terms of the deal were not disclosed.
China Railway IPO
China Railway Construction, which built part of the controversial train line to Tibet, said yesterday it raised 22.25 billion yuan (US$3.1 billion) from a domestic initial public offering.
The company priced the 2.45 billion yuan-denominated A shares offered at 9.08 yuan each, the top end of an indicative range of 8.00 to 9.08 yuan per share, it said in a statement filed with the Shanghai Stock Exchange.
The price valued the company at 30.56 times 2007 projected net profit based on Chinese accounting standards, it said.
Cuban cigar sales
Cuban cigar sales rose 7 percent to US$402 million in 2007, Habanos S.A., the government-run tobacco company announced on Wednesday.
Although smoking bans have made it harder to puff a cigar in many parts of the world, total sales increased regardless, Habanos vice president Manuel Garcia said Wednesday, without giving a reason for the company's gains.
Cuban cigars comprise 80 percent of the world cigar market - not counting the United States, which has had a trade embargo banning Cuban products since 1962.
Factory closures
China and South Korea are investigating complaints that hundreds of Korean-invested factories have closed down, leaving workers without pay.
Although surging manufacturing costs are hurting foreign manufacturers in many areas, especially southern China, the Korean factory closures are mainly concentrated in eastern China's Shandong province, a region with many ethnic Koreans that is closest to the Korean peninsula.


Updated : 2021-04-13 22:57 GMT+08:00