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RPT-S.Korea KT Q2 op rises on smartphone subscribers

July 30  - KT Corp (030200.KS), South Korea's top fixed-line operator and No. 2 mobile carrier, reported a 24 percent rise in quarterly operating profit, helped by healthy customer demand for its smartphone and Internet TV services.
KT, the exclusive seller of Apple's (AAPL.O) iPhone in the South Korean market, reported a 601.4 billion won ($507.3 million) operating profit in the three months to June. Analysts had forecast a profit of 599 billion won, according to Thomson Reuters I/B/E/S.
In the second quarter of last year, KT reported an operating profit of 483.4 billion won on a proforma basis, assuming the acquisition of its mobile business was completed in January 2009. KT earned a net profit of 372.5 billion won in the first quarter. (Reporting by Seo Jiwon, Editing by Jonathan Hopfner)

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Panasonic to make Sanyo

By Taro Fuse, Kentaro Hamada and Emi Emoto
TOKYO July 29 (Reuters) - Panasonic Corp (6752.T) plans to acquire the shares it does not already own in Sanyo Electric Co (6764.T) and Panasonic Electric Works Co Ltd (6991.T), four sources with knowledge of the matter said.
Panasonic currently owns 50 percent in Sanyo, a maker of solar cells and rechargeable batteries, and 51 percent of Panasonic Electric Works, a maker of housing materials and lighting equipment.
Based on current market prices, acquiring the shares it does not own would cost Panasonic about 720 billion yen ($8.23 billion). Placing a typical premium could lift the value of the deal to around 900 billion yen.
Panasonic could make an offical announcement of its plans this week, the sources said, speaking on condition of anonymity. (Additional reporting by Reiji Murai; editing by Elaine Hardcastle)

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Chinese c.bank sets yuan mid-point at 6.7812

July 20  - The People's Bank of China fixed the yuan's daily mid-point CNY=SAEC lower at 6.7812 versus the dollar on Tuesday after a weaker-than-expected fixing on Monday had already sparked worries over a possible halt of yuan appreciation in some parts of the market.
Mid-point Previous day's mid-point Previous day's close
6.7812 6.7800 6.7780
Since the PBOC announced a depegging of the yuan against the dollar on June 19, the Chinese central bank has kept a tight grip on the yuan's movements against the U.S. currency, with the yuan rising only 0.66 percent.
However, Beijing has apparently quickened the pace of internationalising the Chinese currency on other fronts.
China took a big step in that direction on Monday, tweaking rules to allow the sale of yuan-denominated financial products in Hong Kong and giving companies greater access to yuan funds. [ID:nTOE66I02Q]
China has also used yuan trade settlement as a starting point to gradually internationalise the currency. The PBOC recently said it was extending the yuan trade settlement scheme to all overseas nations and regions.
The Chinese central bank issues mid-point data through the Shanghai-based interbank market, the China Foreign Exchange Trade System (CFETS), on the market's website, www.chinamoney.com.cn.
The yuan may rise or fall 0.5 percent against the dollar from its mid-point each day. (Reporting by Lu Jianxin and Edmund Klamann)

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LG Household says considers acquiring Pasteur

July 20  - South Korean cosmetic and consumer goods maker LG Household and Health Care (051900.KS) said on Tuesday it was considering taking over unlisted local dairy producer Pasteur.
"We have been considering acquiring dairy producers to expand into a new business and Pasteur is one of the potential targets...We are reviewing the company but nothing has been decided," LG said in a statement. (Reporting by Miyoung Kim; Editing by Jonathan Hopfner)

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