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World Bank cancels aid to Pakistan

The World Bank (WB) cancelled technical aid worth 0.75 million dollars to Pakistan because of the delay in projects, local media reported Saturday. According to the private TV Dawn News, the aid was to be allocated for a project to foster Pakistan's mineral resource sector. ...

Tianjin assets exchange debuts

China's first officially registered financial assets exchange debuted at the 4th China International Private Equity Forum in Tianjin on Friday as an integrated financial institution offering a wide range of solutions to investment and finance companies. Industry experts said the ...

Sales growth slowdown continues for SAIC Motor

SAIC Motor, the listed arm of Chinese auto giant Shanghai Automotive Industry Corporation (SAIC), said Tuesday its May vehicle sales rose 48.2 percent year on year to 289,239 units. Output in May stood at 292,885, a rise of 46.9 percent from a year earlier, said SAIC Motor in a ...

Housing finance in emerging markets prospering despite crisis

Housing finance is prospering in emerging markets despite the economic slowdown and the mortgage crisis in many developed economies, according to a report released by the World Bank on Tuesday. According to the report, lessons from the crisis will impact the way finance for ...

Petronas seeks collaboration in new growth areas

Malaysia's state-owned oil and gas giant Petronas is seriously considering potential opportunities for collaboration, alliances and partnership in new growth areas. Md. Arif Mahmood, Petronas vice president, corporate strategic planning, made this remarks at the 15th Asia Oil and ...

China's central bank one-year bill yield rises by 8.33 basis points

The yield on one-year bills issued by China's central bank rose to 2.0929 percent Tuesday, up 8.33 basis points from June 1. The People's Bank of China (PBOC), or the central bank, auctioned 25 billion yuan (3.66 billion U.S. dollars) worth of one-year bills in its regular open ...

Crude prices fall on economic data, weak euro

Crude prices fell on Tuesday as investors were worried about the outlook of global economic recovery while the euro declined against the U.S. dollar put pressure on energy prices. Expansion of manufacturing activity in the euro zone also slowed sharply in May from the previous ...

China to stick to economic opening-up policy

China will continue its economic opening-up policy and it stands ready to join hands with other countries to overcome the global economic difficulties, a senior Chinese official said here on Monday. "We firmly believe that opening-up will generate unlimited vitality for trade as ...

Economic zone receives nod for expansion

China's first special economic zone (SEZ) of Shenzhen has finally received approval to expand from the central government, Shenzhen's Party chief and acting mayor Wang Rong said. According to Wang, the central government will soon announce the expansion of the SEZ to include the ...

China may levy property tax

The Chinese government has signaled that it will "gradually" levy tax on holding of property. The tax, which is similar to a property tax in other countries, is expected to increase the cost of holding more than one apartment and help prevent speculation. The State Council, China...

EU report shows banks rely less on state aid

European Union (EU) banks are relying less on state aid, a sign that the financial sector is returning to normal after it was hit by the financial crisis, the European Commission said in a report on Thursday. The EU's executive arm said it has so far approved state aid measures ...

China relaxes control over domestic airline ticket pricing

Chinese airlines can decide the price of first- and business-class fares for domestic flights as of Tuesday, according to a new regulation issued by the Civil Aviation Administration (CAA) and the National Development and Reform Commission (NDRC). Previously, first- and business...

Free trade zone for China, S.Korea, Japan to produce hefty benefits, thorough exploration needed

While regional integration is breaking down the walls dividing adjacent countries, free trade is thickening the web of their economic interdependence between them with potential benefits. After concluding their third round of trilateral summit on Sunday in Jeju island, South ...

IMF praises Peru's economic policies

The International Monetary Fund (IMF) said Thursday that Peru is a stellar example of how to enforce the right economic policies since its GDP this year is expected to grow 5 to 7 percent. Managing Director of the IMF Dominique Strauss-Khan said he had carefully examined all of ...

Mainland, HK sign 7th supplement to CEPA

Mainland, HK sign seventh supplement to CEPA, eying closer economic ties The Chinese central government and the government of the Hong Kong Special Administrative Region (HKSAR) signed a supplement to an important trade agreement on Thursday to give Hong Kong firms greater access ...

Euro rebounds after China dismisses report about euro

The euro rebounded against major currencies on Thursday after China's foreign exchange regulator dismissed a report that China was reviewing its euro holdings. The Financial Times, without citing sources, reported Wednesday that China was reviewing its holdings of eurozone debt ...

Chinese mainland, Taiwan busy preparing for economic pact

Experts from the Chinese mainland and Taiwan are busy preparing for their third meeting on the economic pact designed to boost cross-Strait business, a mainland official said here Wednesday. The two sides will work hard to achieve the Economic Cooperation Framework Agreement ...

Crude prices fall below 70 U.S. dollars on economic woes

Crude prices fell below 70 U.S. dollars per barrel on Tuesday on concerns over global economic growth. Equity markets overseas declined sharply on ongoing concerns about the health of Spain's banking sector after the debt-troubled country announced that it will rescue a saving ...

CNPC acquires 35% interest in Shell's Syria subsidiary

China National Petroleum Corporation (CNPC) announced Wednesday that it had concluded an agreement with Shell under which CNPC has acquired a 35-percent stake in Syria Shell Petroleum Development (SSPD), a unit of Royal Dutch Shell. SSPD has interests in three production licenses ...

HP posts jump in profit, revenue

Hewlett-Packard Co. (HP) on Tuesday reported double-digit increases of both profit and revenue in its most recent quarter, which indicated improving corporate and consumer demand for computers. In the three months ended on April 30, HP's net income jumped 28 percent year-on-year ...
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china

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IMF chief warns of risks to recovery
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China's farm product pricing plan shifts to market orientation
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finance

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Retailer's Net Profit Falls 3%
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trade

sports

Yao's gift of sport for all
Yao's gift of sport for all
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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
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