Posts tagged ‘China Youth Daily’

04/08/2016

Poland in talks with Chinese buyers over LOT airline stake | Reuters

Poland is in talks with potential investors from China over selling a stake in the state airline LOT [LOT.UL], Deputy Prime Minister Mateusz Morawiecki said on Wednesday.

Poland’s euroskeptic, conservative government has been looking to tighten its relations with China since coming to power last year. The two countries pledged deeper co-operation during the visit of China’s leader Xi Jinping to Warsaw in June.”LOT is our national carrier, which we are trying to save no matter the cost. It is deeply in debt,” Morawiecki told state news agency PAP on Wednesday, adding that without a national carrier Poland would become a more peripheral country.

LOT, one of the world’s oldest airlines, has for years struggled to compete against low-cost competitors like Ryanair (RYA.I) and bigger rivals. The state-owned airline was saved from bankruptcy in 2012 thanks to public aid of more than 500 million zlotys ($130 million).

“The previous government has already granted public support for LOT, we cannot grant another and we are looking for an investor,” Morawiecki said.

“According to EU law a carrier from outside the EU cannot take over more than 49 percent of a carrier from the EU, hence we are in talks with potential investors, among others, from China,” he said.Morawiecki also said that usually it is a very long road to finalize such a transaction.

Earlier on Wednesday, a Polish local newspaper reported that Chinese carrier Air China (601111.SS) is interested in buying a 49-percent stake in LOT with a delegation from the Chinese firm expected to arrive in Warsaw over the coming days.

However, a LOT spokesman said he had no knowledge of any plans for a capital tie-up between LOT and Air China.

“I have no knowledge regarding any planned capital co-operation between LOT and Air China,” Adrian Kubicki, LOT spokesman said. “We have commercial co-operation with Air China, which we want to develop, regarding the Warsaw-Beijing route.”

Air China was not immediately available for comment.

Source: Poland in talks with Chinese buyers over LOT airline stake | Reuters

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20/07/2014

Seven People Attempt Suicide Protesting Illegal Land Seizures – Businessweek

On Wednesday morning at about 8:10 a.m., seven people who had traveled together to Beijing from southeastern Jiangsu province met outside the offices of the China Youth Daily newspaper. They carried with them black bottles containing pesticides, which they opened and quickly drank.

Seven People Attempt Suicide Protest in Beijing Over Illegal Land Seizures

In rural China, consuming pesticides is one of the most common methods of suicide; the seven chose this as an act of desperate protest. Petition papers that lay askew, near where the five men and two women fell unconscious on the pavement, indicate that the group had come to Beijing to petition national authorities to intervene over land seizures and forced demolitions in their hometown.

Photos of the seven lying on the ground, all wearing white t-shirts, were distributed widely over Chinese social media. Soon police and ambulances arrived, and the victims were taken to local hospitals. According to China newspaper reports, they remained alive and in stable condition as of Thursday evening.

via Seven People Attempt Suicide Protesting Illegal Land Seizures – Businessweek.

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