Singapore Airlines (SIAL.SI) said on Monday it will take a 16% stake in China Cargo Airlines for 328 million yuan ($65 million). China Cargo Airlines, which is based in Shanghai, is currently 70% owned by China Eastern Airlines and 30% by Cosco.
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Singapore Exchange (S68.SG) heads back into positive territory, +2.5% at $8.13 vs down 0.1% at $7.92 midday, on hopes of increased trading activity in Singapore as bourse operator enables American Depository Receipts of 19 major Asian companies to be quoted in Singapore from Oct 22, according to Dow Jones.
Move, announced during lunch break, will allow investors to act on newsflow about companies like Baidu, Aluminum Corp of China, China Eastern Airlines, China Mobile during Asian hours.
ST Engineering today said its aerospace arm, ST Aerospace, has unveiled its latest hangar complex at its China facility at Pudong International Airport in Shanghai. Its facility in Shanghai, Shanghai Technologies Aerospace Company Limited (STARCO), is a joint venture company between China Eastern Airlines (CEA) and ST Aerospace.
