Shanghai port says to delist unit in October

Friday, September 22, 2006, 8:42 [IST]

SHANGHAI, Sep 22 (Reuters) Shanghai International Port (Group) Co. Ltd., China's biggest port, will delist its unit Shanghai Port Container Co. Ltd. <600018.SS>, a cargo services operator, in October, it said on Friday.

The parent will issue 2.422 billion A-shares to buy out the unit and list as a group soon thereafter, it said in a statement. All new shares issued will be used to swap with existing shares in the listed unit at a proportion of 4.5 shares new shares versus one existing share, and no proceeds will be raised.

Reuters DKS VP0528

Other articles published on September 22, 2006

Wal-Mart Stores offers $4 generic drugs in Florida

Friday, September 22, 2006,8:42 [IST]

TAMPA, Fla., Sept 22 (Reuters) Wal-Mart Stores Inc. , the world's largest retailer, said it would cut the prices of nearly 300 generic drugs to $4 per prescription starting in the retirement haven of Tampa, Florida. The move, immediately copied by rival Target Inc. , slammed stock prices of drug retailers, with shares of No. 2 U.S. drugstore chain CVS falling 8.4 percent. Wal-Mart characterized the program as ''part of its ongoing commitment to.....

Sharp execs visit LG.Philips as Philips seeks buyer -report

Friday, September 22, 2006,8:42 [IST]

TAIPEI, Sep 22 (Reuters) High-level executives from Japan's Sharp Corp. travelled to South Korea last week to visit LG.Philips LCD Co. Ltd. , as Philips seeks a buyer for its 32.9 percent stake in the Korean LCD firm, Taiwan media reported on Friday. Philips wants to sell its stake in LG.Philips, the world's biggest maker of large liquid crystal displays (LCDs) used in TVs and PC monitors, but no specific names of.....

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Tennis-Philippoussis ready for dogfight on Davis Cup return

Friday, September 22, 2006,8:42 [IST]

BUENOS AIRES, Sep 21 (Reuters) Australia's Mark Philippoussis said he was ready for a dogfight after being drawn to face David Nalbandian in the opening rubber of their Davis Cup world group semi-final against Argentina. Nalbandian himself remained brashly confident, just as he was earlier in the week when he predicted an easy win for the South Americans in the tie which starts tomorrow. Philippoussis will face a hostile 14,000-strong crowd and an unfavourable clay.....

Defending champion Hidayat loses in Madrid

Friday, September 22, 2006,8:43 [IST]

MADRID, Sep 21 (Reuters) Taufik Hidayat's hopes of retaining his world badminton title evaporated today when he slumped to first ever defeat to China's Chen Hong in a tense third-round contest. Hidayat, who is also the Olympic champion, took the first game comfortably but then succumbed to Chen's patient pressure tactics, allowing the world number seven to notch up his maiden win over the Indonesian, 14-21 21-18 21-19. Chen, who won the All-England Open last.....

Lord Swaraj Paul to address at Indore

Friday, September 22, 2006,10:04 [IST]

Indore, Sep 22: Confederation of Indian Industry (CII) is organising an address by Caparo Group Ltd Chairman Lord Swaraj Paul on 'India Inc on Global Stage' on September 26 here.Madhya Pradesh Commerce Minister Babulal Gaur will also be present and address the gathering during the session, according to a CII release.Top industrialists, academicians and senior government officials from all over the state will attend the programme.Stressing the need for acting on the global stage, leveraging.....