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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 ...

Tougher measures to cool property market

New measures to curb rising real estate prices, including raising down payments for home purchases and expanding property tax trials nationwide, were launched on Wednesday highlighting the government's resolve to cool the property market. Homebuyers purchasing their first ...

Oil rebounds above 75 USD along with equities

NEW YORK, Jan. 25 - Oil prices rose above 75 U.S. dollars a barrel on Monday as equity market recovered from the worst week since the March lows in 2009. Oil prices finished last week at 74.54 dollars a barrel as the energy futures were pressured from weak demand and a plunging ...

New CSRC rules govern industry refinancing

New rules from the China Securities Regulatory Commission (CSRC) mean real estate companies will have to seek approval from the Ministry of Land and Resources before refinancing, the China Securities Journal reported on Friday. Refinancing projects for companies in other ...

BYD sets up venture to give out car loans

Electric car maker BYD Co has formed a 500 million yuan (US$73 million) auto financing venture with France's CGL. Shenzhen-based BYD, which is backed by Warren Buffett, will contribute 400 million yuan to BYD Auto Finance Co while CGL will invest the remainder, according to BYD's ...

Economy puts brake on sales of used luxury cars

Sales of secondhand luxury cars have been declining since November and touched a new low in May, according to officials at the Huaxiang used car market in the Fengtai district. According to Wang Meng, director of the market, secondhand cars costing about 600,000 yuan are selling ...

FAW Group plans listing

FAW Group Corp, China's second biggest automaker, is planning a stock market listing after a restructuring of the business, in a bid of reinforcing its ability to compete with rivals in the world's biggest automobile market. FAW Car Co and Tianjin FAW Xiali Automobile Co, the ...

China's love affair with luxury cars

Super-luxury cars are back in vogue in China, even though the nation's highway network and the disposable income of its citizens still fall far short of Western standards. Wealthy business people in China are ready to splash out upwards of 38 million yuan (US$5.6 million) to buy ...

Oil surges 2 percent to near $87 on economy data

April 6 - Oil prices rose more than 2 percent on Monday to their highest since October 2008, after U.S. manufacturing, home sales and jobs data boosted optimism about a recovery in the world's top economy. The U.S. service sector grew in March at its fastest pace in nearly four ...

Oil ends down as dollar, crude stocks rise

NEW YORK , Apr 8 - Oil prices fell 1 percent on Wednesday, snapping a string of six straight sessions of gains, pressured by a stronger dollar and U.S. government data showing a bigger-than-expected increase in crude inventories. U.S. light crude futures for May fell 96 cents, or ...

Oil halts six-day rally amid growing supply

NEW YORK, April 7 - Oil prices halted a six-day rising streak and retreated to below 86 U.S. dollars a barrel on Wednesday as growing fuel supply signaled a still weak demand. Light, sweet crude for May delivery fell to as low as 85.75 dollars a barrel before settling at 85.88 ...

Geely drops plan to buy shares in British cab firm

Hong Kong-listed Geely Automobile of China said Friday it had decided not to proceed with the proposed subscription for 20 million new ordinary shares of UK cab firm Manganese Bronze Holdings (MBH). In a statement filed to the Hong Kong stock exchange, the country's biggest ...

US stocks pull back on Europe's deepening debt woes

U.S. stocks are following European markets lower after Portugal's debt was downgraded, deepening fears that Europe's debt problems are spreading. Standard & Poor's slashed Portugal's credit rating Tuesday, sending stocks sharply lower across Europe. S&P also downgraded Greece's ...

PetroChina's net profit up 71.2% in Q1 2010

BEIJING, April 27 - PetroChina Company Limited (PetroChina), China's largest oil and gas producer, said Tuesday its net profit for the first quarter rose 71.2 percent year on year due to soaring crude oil prices and rising domestic demand. Net profit totaled 32.492 billion yuan ...

Dairy firm turns profit after 2008 milk scandal

HONG KONG - China Mengniu Dairy Co, the nation's biggest maker of liquid milk, returned to profit in 2009 after sales and margins recovered from a nationwide scandal involving tainted dairy products the year before. Net income was 1.1 billion yuan ($161 million) or 0.681 yuan a ...

BMW in car recall over brake fault

German automaker giant BMW was recalling nearly 200,000 vehicles in the U.S. over a brake problem that could affect up to 345,000 cars worldwide, a spokesman said in Munich. The spokesman said that BMW of North America had recalled 198,000 vehicles in the U.S. markets after brake ...

BUY OR SELL-Will the NYMEX heating oil crack widen more?

TORONTO, April 27 - The NYMEX heating oil crack on Tuesday broke through the $12 a barrel mark for the first time since May last year, unusually widening the the transport fuel's price difference with crude oil after the end of the heating season. The New York Mercantile Exchange...

Oil steady as US gasoline stocks fall

April 28-Gasoline stocks fell unexpectedly in the United States last week even as refineries ramped up operations, the U.S. Energy Information Administration reported in weekly data, a sign of recovering fuel demand in the world's largest consumer. EIA data also showed U.S. crude ...

APIC '10: Asia's chemical industry recovery still fraught with risk

SINGAPORE, May 12-The recovery of the chemicals industry in Asia has been nervous and edgy, with many complications in play and the ever-present danger that it could all go drastically wrong, market players said on Wednesday. The 2010 Asia Petrochemical Industry Conference (APIC)...

Big oil gets more grilling on US spill

May 13-Protests planned in several US cities over spill PORT FOURCHON, La. / WASHINGTON - Top oil executives faced a second day of grilling by US lawmakers on Wednesday over a deadly well rupture that unleashed a huge oil slick and the specter of environmental disaster in the ...
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Latest World News

china

China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...
Bill Gates talks nuclear
Bill Gates talks nuclear
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China's reform leading group holds first meeting
China's reform leading group holds first meeting
BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...

world

finance

Reforms to fuel Shanghai's growth in 2014
Reforms to fuel Shanghai's growth in 2014
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Economist sees world economy strengthening in 2014
Economist sees world economy strengthening in 2014
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Xinhua Feature: World's political, business leaders gather in Davos for WEF
Xinhua Feature: World's political, business leaders gather in Davos for WEF
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company

industry

Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...
Court rejects Apple lawsuit over iPad name
Court rejects Apple lawsuit over iPad name
Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...
Super car club in commercial drive
Super car club in commercial drive
On the night of Nov 11, more than 150 super cars were driven into the ...

trade

sports

Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
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 ...
Stars 'Big Three' fall short of title in 1st year
Stars 'Big Three' fall short of title in 1st year
Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...
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