The number of Americans initially applying for unemployment aid dipped last week, but still stood well above the pre-shutdown level, the U.S. Labor Department reported Thursday.
Oct 172013
Oct 172013
China’s exports are likely to see a slight increase in the next two to three months following a surprise year-on-year drop in September, an official said Thursday.
Oct 162013
Economists described the unchanged state of Britain’s Consumer Price Index (CPI) figures released Tuesday as “a little disappointing.”
Oct 142013
China’s consumer price index is estimated to grow by about 3 percent in September from a year earlier, according to the Bank of Communications.
Oct 142013
Anxiety levels among Chinese people are soaring according to a ranking released by a leading search engine, and experts are urging the country’s residents to relax.
Oct 142013
Despite many worries in the first half of this year, the economic data in the third quarter showed that China’s economy was still keeping a steady and solid growth.
Oct 142013
Two more foreign banks have announced they will set up branches in the Shanghai Free Trade Zone to tap into the opportunities under the financial reform being tested in the area.
HSBC Holdings Plc and Bank of East Asia said they had received approval from the authority to operate in the 28-sq-km FTZ, after the pilot area was officially unveiled on Sept 29.
HSBC and BEA followed Citigroup and DBS, which were the first two foreign banks to get a green light to operate in the FTZ.
According to the development plan by the State Council, or China’s cabinet, the Shanghai FTZ will be a test field for further financial reform. Analysts said such measures may include market-oriented interest rates.
But it is not yet clear what operations will be allowed for foreign banks in the FTZ as details of reforms were not released. HSBC said its FTZ branch will start operations in the beginning of 2014.
Shanghai Securities News reported on Monday that the People’s Bank of China, the central bank, will release details of FTZ financial reform soon. Shares of local companies in Shanghai rallied on the news with 20 stocks reaching their daily upper limit.
Oct 142013
Spain’s Benat Intxausti has grabbed the overall lead at the Tour of Beijing with victory in the 151.5km fourth stage northwest of the Chinese …
China targets $1.31 trillion for health services
Beijing, Oct 14 : China has set a target of increasing the gross value of its health service sector to over $1.31 trillion by 2020, according to a circular released …
Upset over U.S. fiscal crisis China urges a de-Americanized world
WASHINGTON – Upset that the fiscal stalemate in Washington is threatening the global economy, China called for the U.S. dollar to be replaced as the international reserve currency as well as for broader steps to create a “de-Americanized world.” China also called for an end to the “pernicious impasse” in the U.S. over the raising the debt limit and ending the partial …
China responds to Indian athletes travel being blocked
China said on Monday it regretted that two Indian athletes were prevented from attending a competition in China but said it has been flexible in handling the issue.Foreign Ministry spokeswoman Hua Chunying told a regular press briefing, “We regret that the two young Indian athletes could not come to participate in the relevant competition.”Hua was responding to a question concerning a …
Chinas Export Momentum Fades Out
International Monetary Fund expects euro zone GDP to end the year down 0.43% and the European Union, which includes countries that are not in the euro — like the U.K. — showing growth of only 0.02%. Export growth to the European Union slipped into modest contraction territory (-1% year over year), after two months of growth (+2.5% y-o-y). Nonetheless, September exports to the advanced …
China plan to ban HIV patients from public baths comes under attack
A proposal by the Chinese government to prevent HIV patients from making use of public bathhouses has been attacked by campaigners, the UN and members of the public as …
“Come to England and date Harry Potter” Boris Johnson pitches London to Chinese students
Boris Johnson wants Chinese students to study in London – and he’s hoping to lure them here on the possibility of romantic liaisons with a fictional – not to mention married – boy …
Boris Johnson on business drive in Beijing – video
The mayor of London, Boris Johnson, visits Beijing during a five-day trip to China to encourage Chinese investment in Britain. Johnson says Chinese business interest in London is already ‘very great’ and he is keen to encourage it. The mayor is leading a trade delegation to China at the same time as the chancellor, George …
London Mayor Cites Harry Potter in Talking Up China-U.K. Relationship
Boris Johnson, currently on a trade mission to Beijing, said Harry Potter’s romantic interest in Asian character Cho Chang is indicative of the bright future the two countries …
US Default 2013 China Calls For De-Americanized World Worried For Its Treasury Bonds
China is done appealing to the U.S. to end its shutdown, and is now calling for a de-Americanized world. Leaders of the world’s second-largest economy is expressing its displeasure at a time when the United States cannot seem to get past the shutdown and China’s considerable dollar assets seem in …
Chinas inflation rate reaches record high
18/10/2012 14:47 CET China’s inflation rate has risen to a seven-month high of 3.1 percent. Driven by poor weather, food prices have gone up, limiting the central bank’s scope to weigh in to support the economy, even though exports have shown a surprise decline. But with Beijing trying to ease credit-fuelled investments, few analysts expect a further sharp rise in inflation or …
Peugeot-Citroen consider selling stake to China
PSA Peugeot Citroen is reportedly weighing up whether to sell a stake to Chinese firm, Dongfeng Motor Corp. The French car maker is trying to raise some three billion euros in fresh capital as vehicle sales in Europe have dropped to a 20-year low. The injection would provide Peugeot with much needed cash to push expansion plans beyond Europe after it recently announced it was axing 11,200 jobs …
Inflation picks up the pace in China
Consumer prices in China rose at a faster pace in September compared to August, partly the result of a typhoon that ripped through an agricultural region.The annual inflation rate of 3.1 percent for September is one tick above the central bank’s guideline rate for bank deposits, The Wall Street Journal reported Monday.Consumer inflation is significantly higher than the 2.6 percent rate in …
CIC RRJ invest in China-focused water treatment firm SIIC Environment
HONG KONG | Mon Oct 14, 2013 10:19am EDT HONG KONG Oct 14 (Reuters) – China-focused water treatment company SIIC Environment Holdings Ltd is raising S$260.2 million ($208.7 million) by selling new shares to investors including Chinese sovereign wealth fund CIC and private equity firm RRJ Capital. Singapore-listed water companies have been attracting big-name investors as they profit …
BRIEF-China GF Securities 9-mth profit up as income from brokerage business increases
Mon Oct 14, 2013 10:14am EDT Oct 14 (Reuters) – China GF Securities Co Ltd : * Jan-Sept net profit 2.3 billion yuan, up 27.3 percent y/y * GF Securities says profit up as income from brokerage, asset mgm and financing business increases Source text in Chinese: here Further company coverage: (Reporting by Hong Kong and Singapore …
Ping Ans securities unit fined by China regulators
Mon Oct 14, 2013 10:05am EDT Oct 14 (Reuters) – China’s regulators have fined Ping An Insurance’s securities unit for helping a fraudulent Chinese company to list its shares on the stock market, a move underlining Beijing’s determination to clean up the market. The China Securities Regulatory Commission (CSRC) slapped a 51.10 million yuan ($8.4 million) fine on Ping An Securities for …
1st LD-Writethru China targets 8-trln-yuan health service sector
China has set the target of increasing the gross value of its health service sector to over 8 trillion yuan ($ 1.31 trillion) by 2020, according to a guideline issued by the State Council on Monday.More measures will be taken to boost this sector, which will serve to improve people’s wellbeing as well as shoring up growth, said the guideline.The health service industry covers medical …
Top Chinese legislature to continue deliberating consumer rights law
The Standing Committee of the National People’s Congress (NPC), China’s top legislature, will continue deliberating a draft amendment to the Law on the Protection of Consumer Rights and Interests in an upcoming bimonthly session.The session, which will be held from Oct. 21 to 25, also includes reviewing a draft amendment to the environmental protection law, according to a statement …
Foreign media highlight Chinese premiers visit to SE Asia
Li Keqiang ‘s ongoing Southeast Asian tour, saying it boosted trade and promoted the economic prosperity in the region.China has agreed to increase its purchase of rice and rubber from Thailand, a major growth from the nation’s previous deal, the Bangkok Post reported in its story titled “Li agrees to boost rice, rubber imports.””Good ties between Thailand and China were …
New bridge to boost China-DPRK trade
A new bridge will link China and the Democratic Republic of Korea (DPRK) by 2014 and greatly boost exchange and trade between the two countries, officials said Monday.A new border trade complex, complete with customs services, border control and quarantine services, as well as office buildings, hotels and markets will also be operational by 2014, according to Shi Guang, mayor of Dandong city, …
China issues yellow alert for waves
/enpproperty–> BEIJING– A yellow warning for waves brought by a blast of strong cold air was issued on Monday, according to the National Marine Environmental Forecasting Center. The cold air, compounded by Typhoon Wipha, will hit the East China Sea, the Taiwan Straits and nearby waters in the early hours of Tuesday. Huge waves measuring three to five meters are expected in the northern …
Climate change communication experts meet in Beijing
/enpproperty–> Climate change experts met in Beijing over the weekend to discuss trends and problems in communicating issues around global warming, with particular attention to raising public awareness of the issues. Delegates to the 2013 International Conference on Climate Change Communication, which ran from Friday to Sunday, focused on the use of new media and social media in …
Oct 112013
The number of people living in extreme poverty around the world has sharply declined over the past three decades, but about 400 million children still live in such abysmal conditions, which needs urgent efforts to tackle, the World Bank said Thursday.
Oct 102013
The number of Americans initially applying for unemployment aid rose sharply last week as California processed a backlog of recent applications and the partial federal government shutdown prompted some government contractors to dismiss employees, the U.S. Labor Department reported Thursday.