China Construction Bank Corp., No. 2 behind ICBC, paid 1.62 billion reais ($671 million) for a majority stake in Brazil's Banco Industrial & Comercial SA earlier this year and plans to purchase the remainder.
Home prices fell for the fourth consecutive month in August while new construction activity continued to slump, leading many analysts to argue that only a cut in mortgage rates could turn things around for the sector and the economy.
This sector is important because residential real estate together with construction last year accounted directly for about 10 per cent of GDP, 18 per cent of fixed-asset investment, 10 per cent of urban employment and more than 15 per cent of bank loans.
COMPANY NEWS NOVARTIS A federal judge said Novartis AG must face a U.S. government lawsuit accusing the Swiss drugmaker of paying multimillion-dollar kickbacks, including a $9,750 dinner for three at a Japanese restaurant, to induce doctors to ...
The signing ceremony was held in London when Chinese Vice Premier Ma Kai visited the LME on Thursday, September 2014, during his official trip to the United Kingdom for the sixth UK-China Economic and Financial Dialogue.