The latest deal with China over Greece's largest container shipping port signals strong confidence in the country, the Greek shipping minister said.» Read More
Miltiadis Varvitsiotis, Greece's shipping minister, highlights that the Cosco/Piraeus Port deal is the biggest direct investment in Greece since the crisis began and discusses the port's privatization process.» Read More
*Reports of ban on Wei leaving China baseless- COSCO Group. COSCO, China's largest bulk shipping company, announced on Friday that its vice president, Xu Minjie, had resigned- a day after it said he was "under investigation by the relevant authorities", phrasing used in China to describe corruption investigations.
*Former COSCO Group chmn Wei barred from leaving China- sources. The shipper's vice president Xu Minjie was "under investigation by the relevant authorities", COSCO said in a brief statement to the Shanghai stock exchange on Thursday, shorthand that is used in China to describe corruption probes.
HONG KONG, Oct 28- Hong Kong shares may start higher on Monday after a top Chinese leader reportedly promised "unprecedented" economic and societal reforms at the Communist Party's much anticipated plenum meeting next month. China Telecom, Anhui Conch Cement and COSCO Pacific are among companies due to report quarterly earnings later in the day.
Japan's Nikkei extended losses on Friday on news that a conservative may be the leading candidate to head the Bank of Japan while Australian and South Korean shares ended a range-bound session relatively flat, weighed down by weak euro zone growth.
CHICAGO, Oct 1- As global economies from Beijing to Berlin struggle to keep their heads above water, a new wave of stimulus spending is under way.
Jonathan Windham, Head of Regional Industrials Sector, Asia Ex-Japan Research, Barclays Capital says that even though freight rates doubled between January and June, this year's peak season is not expected to be as good as before.
The approval of a second bailout for Greece on Tuesday will bode well for Asian shipping companies, according to one analyst, who points out that Asian container shippers have a large amount of business with Europe.