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Chinese state corporation Three Gorges announced its readiness to acquire the largest Portuguese company Energias de Portugal (EDP) for 9 billion 70 million euros. Chinese CTG already owns a 23 percent stake in EDP, which produces and distributes electricity, purchases and sells natural gas. CTG offers for each share of EDP 3 euro 26 cents in cash. This offer is only 5% higher than the quotes of the shares of the Portuguese company at the closure of the market on Friday. Operating profit EDP, that operates in several countries in Europe, Brazil, Mexico and the United States, amounted to about 1 billion 100 million euros. About 40% of them come from alternative energy.
The dollar firmed on Thursday as a decline in Chinese retail sales worried investors, while the rest of the market anticipates the EU summit this weekend. The euro was down 0.1% to $1.1401, while the dollar stood at 106.95 on the yen. The ...
Asian shares hit four-month highs on Monday as investors relied on liquidity and market stimulus to support global economic recovery despite the surge of new cases in the United States. MSCI’s broadest index of Asia-Pacific shares outside ...
Chinese factories sustained their upbeat performance for another month in May. This followed as the country shook off the economic disruptions brought by the novel coronavirus crisis. However, figures indicated that recuperation would not ...
For the first time since January, the services industry of China recorded its growth in May, signaling the start of economic recuperation from stagnation due to lockdown measures implemented amidst the outbreak of the coronavirus. However, ...
Chinese industrial firms’ profits fell at a slower pace in April after higher sales in electronics and automobiles were reported. However, the country’s economy continues to struggle amid weak demand and activity. Profits fell ...
KYC Policy