Swiss private bank Pictet group released its half-year report of 2014 on Tuesday for the very first time in its 209-year history amid the United States tax investigation.
Aug 272014
Aug 272014
U.S. crude price advanced Tuesday as U.S. economic data came out better than expected.
Aug 272014
Gold futures on the COMEX division of the New York Mercantile Exchange bounced Tuesday as the central banks of Russia and Kazakhstan continued to raise their official gold reserve in July.
Aug 232014
The regional development gap within China is still narrowing and is expected to narrow further, an economist with Singapore’s Asia Competitiveness Institute said Friday.
Aug 222014
The Australian share market on Thursday pushed again to continue its six-year high passing its previous high reached on July 31, 2008 after the global financial crisis.
Aug 202014
China’s antitrust regulator is expected to announce penalties for 12 Japanese auto suppliers for collusive conduct as early as Wednesday, according to sources.
Aug 172014
New photos of the latest episode of “Dad Where’re We Going?”
Aug 172014
It is one of the largest music festivals in Europe, attracting nearly 400,000 people every year.
Aug 152014
An investigation found a construction company used shoddy materials to build a rail line in north China’s Shanxi Province, failing design requirements, the China Railway Corporation (CRC) said Friday.
The confirmation from the country’s railway operator came more than a month after the Economic Information Newspaper under Xinhua News Agency revealed a quality scandal in the construction of the 164-km Taiyuan-Xingxian railway linking the central and northern parts of Shanxi.
Investigation and testing showed the construction company did not use the appropriate packing material required to build part of the rail line’s transition sections linking bridges and tunnels, thus failing design requirements, the CRC said in a short statement, without naming the construction company.
The investigation has found “no obvious quality defects” in the main architecture of the tunnels and they have met design requirements, it said.
Those responsible for the quality problem have been held accountable, the vaguely worded statement said, saying the CRC has “seriously treated” the project’s quality problem.
The construction unit was ordered to rebuild the problematic sections, and the construction and supervising units have been forbidden from bidding on future railway construction projects, it said, without giving further details.
With an investment of 8.7 billion yuan (1.41 billion U.S. dollars), the rail line linking the provincial capital city of Taiyuan with Xingxian County started construction in March 2010 and is scheduled to begin operations by the end of this year.
China Railway 12th Bureau Group Co., Ltd., affiliated with CRCC Limited, was one of the companies responsible for the rail line’s construction, according to previous media reports.
Aug 132014
China will raise the wholesale price of natural gas for non-residential use by 20.5 percent from Sept. 1, the second step in overall energy price reform.