Shenzhen ZhongjinLingnanNonfemet, China's third-largest zinc producer, will pay A$45.5 million to acquire a 50.1 percent stake in Australian zinc miner Perilya.

    Zhongjin said in a statement yesterday it had received the approval from Perilya shareholders.

    The move, endorsed by Perilya, could lead to hundreds of thousands of tons of zinc and lead-bearing ore concentrates being shipped to China for smelting, starting as soon as 2010, Perilya's Managing Director, Paul Arndt, has said.

    Top business school

    China's leading business school CEIBS (China Europe International Business School), was ranked 8th worldwide in the annual Financial Times global ranking of MBA programs, making it the top in Asia for six consecutive years.

    This is the first time that Shanghai-based CEIBS is ranked among the top 10 most prestigious business schools in the world. The school also received accreditation from AACSB International, the US standard for business school accreditation, in January.

    Li tops HK rich list

    Hong Kong billionaire Li Ka-shing remained the city's richest man even after his networth dropped by half to $16.2 billion as stock prices tumbled, Forbes magazine said.

    According to Forbes' 2009 list of the city's 40 richest people released yesterday, the number of dollar billionaires slumped to 19 from 40 last year amid the global financial crisis while the total value of assets owned by rich-list members more than halved to $82 billion.

    India inflation drops

    India's inflation slowed to near a one-year low, giving the central bank more room to cut interest rates to stimulate economic growth.

    Wholesale prices climbed 5.07 percent in the week to Jan 24 from a year earlier after gaining 5.64 percent the previous week, the commerce ministry said in New Delhi yesterday. Economists expected an increase of 5.25 percent.

    Cisco to cut 2,000 jobs

    Cisco Systems Inc Chief Executive John Chambers forecast revenue will drop far more sharply in the current quarter than Wall Street expected, and said the network equipment maker is cutting up to 2,000 jobs.

    Chambers said Cisco, which ended the quarter with 67,318 employees, would continue to cut costs, leading to a loss of 1,500 to 2,000 jobs in the near term.

来源：China Daily