WEB BRIEFINGS: NWCB news portal ceases operations

<p>New World CyberBase has closed its financial news portal </p><p>CDLNews.com due to unsatisfactory performance and a gloomy outlook. The </p><p>website was set up just six months ago. The company also said it had </p><p>decided not to inject more capital into the portal because of "rapidly </p><p>changing market conditions" and competitiveness in the Internet market </p><p>were also to blame for the closure. The closure has left 21 editorial </p><p>and technical staff out of work. NWCB, which is to focus on ecommerce, </p><p>owned 85 per cent of CDLNews.com through Cyber DataLive. The portal's </p><p>monthly operating expenses were reported at HKdollars 1 million. </p><p><BR><BR> </p>