WEB BRIEFINGS: NWCB news portal ceases operations

New World CyberBase has closed its financial news portal

CDLNews.com due to unsatisfactory performance and a gloomy outlook. The

website was set up just six months ago. The company also said it had

decided not to inject more capital into the portal because of "rapidly

changing market conditions" and competitiveness in the Internet market

were also to blame for the closure. The closure has left 21 editorial

and technical staff out of work. NWCB, which is to focus on ecommerce,

owned 85 per cent of CDLNews.com through Cyber DataLive. The portal's

monthly operating expenses were reported at HKdollars 1 million.