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Car loans soar

Auto loans at China Merchants Bank surged in Shanghai on rising demand on leverage for auto purchasing. The bank extended 400 million yuan (US$58.6 million) of auto loans in the first five months of this year, almost doubling the credit a year ago. Auto dealers are more willing ...

OPEC set to keep oil supply steady, bets on economy

DUBAI/LONDON - OPEC is expected to keep output steady when it meets in Angola next week, rounding off a year of stable supply policy, as it bets economic recovery and rising demand will be enough to prop up the market. International benchmark U.S. crude futures have fallen toward ...

Subsidy will spur green car sales

A government subsidy for vehicles that burn less fuel will help spur vehicle sales by more than 4 million units by 2012, the National Development and Reform Commission said yesterday. China is to offer 3,000 yuan (US$439) to consumers who buy energy efficient cars, including ...

Oil mostly falls, U.S. crude steady on cold snap

NEW YORK - World oil prices fell broadly on Thursday as the dollar strengthened and U.S. unemployment claims rose, but January U.S. crude futures held firm as cold weather gripped the U.S. northeast and a Canadian crude unit cut production after a fire. While the dollar's rise to ...

Honda workers in Foshan threaten further action

Workers at the Honda parts plant in Foshan have resumed work provisionally but will resume their strike within three days if their demands are not met in full, the workers' 16-member negotiating committee said June 3 in an open letter. Honda announced yesterday that it would ...

Iraq's new oil deals seen weakening Kurds' hand

BAGHDAD - Oil firms are betting that an eventual agreement between Kurds and Arabs will allow exports from northern Iraq, but the wager became more risky last week after Baghdad secured a host of major deals of its own. The Iraqi Oil Ministry awarded leading global energy firms ...

Guangqi Honda to recall Odyssey cars in China

Guangqi Honda Automobile Co., Ltd will recall some of its Odysseys from Thursday due to a problem with the oil return tube, China's quality control authorities said. The recall affects 32,650 units produced from June 22, 2009 to May 19, 2010, said a statement on the website of ...

Oil, gas co's to hike new project spending-survey

NEW YORK, Dec 17 - Global spending on oil and gas exploration and production will rise 11 percent to $439 billion in 2010, reversing a drop in pending in 2009 as energy prices climb, according to a survey conducted by analysts at Barclays Capital. The increase shown by the survey ...

November oil demand down slightly: API

WASHINGTON - U.S. demand for crude oil and petroleum products fell modestly in November compared to a year ago, suggesting the sluggish economy may be picking up some steam, the American Petroleum Institute said on Wednesday. November's total petroleum product deliveries, ...

Changan Ford Sales sets all-time record

Changan Ford Sales Co yesterday reported an all-time May sales record of 23,742 vehicles, an annual rise of 17.8 percent, marking the 16th consecutive month of growth in China sales. The Ford Fiesta was the star performer of another strong month across Ford's product lineup, with ...

Honda's parts plant resumes operation

The parts plant of Japan's second-largest automaker, Honda, in south China's Guangdong Province resumed operations Wednesday, but negotiations continued over workers' demands for higher pay. Workers of Nanhai Honda Auto Parts Manufacturing Company, in Foshan City, entered the ...

US SMALL/MIDCAPS-Rises led by energy sector gains

NEW YORK, Dec 16 - Mid- and small-capitalization stocks rose on Wednesday, bolstered by gains in the energy sector following a jump in crude oil prices. The energy sector led increases in both the mid- and small-cap markets. Shares of Helix Energy Solutions Group (HLX.N), a mid...

Europe shares gain on strong energy, pharma stocks

FRANKFURT, Dec 22 - European shares rose on Tuesday, hovering near a 14-month high, as energy and pharma stocks pushed up the leading index in thin trade ahead of the Christmas holiday season. At 1049 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.6 ...

Oil rises above $74 on expected inventory draw

NEW YORK - Oil prices rose slightly in thin pre-holiday trade on Tuesday, ahead of weekly inventory data which is expected to show a draw in U.S. crude stocks. Crude stockpiles fell nearly 1 million barrels last week, as refiners drew down inventories, according to a Reuters poll ...

BMW starts 2nd plant construction in NE China

BMW-Brilliance Auto (BBA), a joint venture between Brilliance China Automotive Holdings (CBA) and German luxury carmaker BMW, started construction of its second factory in Shenyang, capital city of Northeast China's Liaoning Province, Wednesday. Annual production capacity at the ...

5 cities to receive susidies for green energy cars

China Tuesday released details of its green-car subsidy program designed to boost the nation's auto industry and cut vehicle emissions. Through the program, subsidies of up to 60,000 yuan ($8,784) will be given to buyers of pure electric vehicles in the five cities chosen for the ...

China gives US$8,800 subsidy on green cars

China has said that it will offer as much as a 60,000 yuan (US$8,797) subsidy to buyers who purchase new energy vehicles as it wants to encourage eco-friendly vehicles so that they will become popular. The subsidies, which are given to plug-in hybrids and pure electric cars, ...

S.Korea STX Group in $428 mln Europe wind power deal

SEOUL, Dec 23 - South Korean shipping-to-energy business group STX said on Wednesday it had agreed to develop a 300 million euro ($427.6 million) wind power project in eastern Europe. STX said in a statement that it had signed a deal with a Polish consortium to develop the 220...

OPEC's weekly average oil price drops again

VIENNA, Dec. 21 - The weekly average price of the Organization of Petroleum Exporting Countries dropped again last week, down 1.87 U.S. dollars to 71.44 dollars per barrel, the Vienna-based cartel said Monday. OPEC's weekly oil price has dropped for two consecutive weeks. Last ...

Production 'resumes' at Honda plant

Some production has resumed at the Honda Auto Parts Manufacturing Co Ltd in Shishan town after being suspended for a week due to a strike for higher pay. An executive from the company, who declined to be named, said on Tuesday that some workshops had resumed operations since ...

Latest World News

china

Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
BEIJING, Jan. 22 (Xinhua) -- Policies of China's new leadership in the ...
Merck to put $1.5b in R&D
Merck to put $1.5b in R&D
Merck Sharp & Dohme (MSD), the world's second-largest drug producer by ...

world

market

IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...

finance

company

Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
A Wal-Mart store is seen in Stratford, Connecticut, the United States. ...
Gaming Firms Find Going Tough
Gaming Firms Find Going Tough
Employees demonstrate Sony Ericsson Mobile Communications' Xperia Play ...
Boeing Wins Biggest Order of US$26b
Boeing Wins Biggest Order of US$26b
A formation of nine Royal Air Force Red Arrows Hawk aircraft fly ...

trade

sports

Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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