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Bad loans at Spain's banks hit new record
The mountain of bad loans held by Spain's banks grew to a new record in November, with more than one in nine at risk of not being repaid. The level of doubtful loans - mostly for real estate - reached 11.38 per cent of total loans, up from 11.23 per cent in October, the Bank of Spain said yesterday. It was the highest level since existing records began in 1962. AFP
 
China adds to reserves of oil, gas, minerals
China discovered more than 1.4 billion tonnes of new proven oil reserves last year, its third-highest annual haul ever, while its proven reserves of natural gas rose by a record of nearly 900 billion cubic metres over the year, the Ministry of Land and Resources said. The country also added more than 7 million tonnes of copper reserves and nearly 400 million tonnes of bauxite, an aluminium ore, over the year. Coal resources increased by 132 billion tonnes, gold resources by 604 tonnes, and iron ore resources by 5.4 billion tonnes. Reuters
 
Sharp slows production of iPad screens to crawl
Sharp has nearly halted production of 9.7-inch screens for Apple's iPad, two sources said, as demand shifts to its smaller iPad mini. Sharp's iPad screen production line at its Kameyama plant in Japan has fallen to the minimal level to keep the line running this month after a gradual slowdown began at the end of last year as Apple manages its inventory, the industy sources with knowledge of Sharp's production plans said. Reuters
 
Renault to build Nissan cars in France: minister
Renault chief executive Carlos Ghosn has agreed to build cars in France for alliance partner Nissan, French Industry Minister Arnaud Montebourg said. Montebourg said in a radio interview that Ghosn, who heads both carmakers, had confirmed the plan. But Renault, which is 15 per cent government-owned and holds 43.4 per cent of Nissan, said it had not yet made a decision. Reuters
 
Ex-HKEx chief joins Cheung Kong board
Property developer Cheung Kong and its conglomerate subsidiary Hutchison Whampoa both appointed Charles Lee Yeh-kwong, former chairman of Hong Kong Exchanges and Clearing, as a non-executive director yesterday. He will be paid an annual fee of HK$120,000 by each of the firms. Enoch Yiu


Apple supplier Foxconn misses March quarter estimates amid iPhone sales downturn in China

Chinese smart TVs face pushback over ads

No OLED screens for Japan if trade dispute is ‘pushed to extreme’, South Korean engineering expert warns

SHARP

Briefs, January 19, 2013

Charles Lee Yeh-kwong was appointed as a non-executive director of Cheung Kong.

Business

China Business

China discovered more than 1.4 billion tonnes of new proven oil reserves last year, its third-highest annual haul ever, while its proven reserves of natural gas rose by a record of nearly 900 billion cubic metres over the year, the Ministry of Land and Resources said.


Renault

Nissan