Brazil registered a current account deficit of 90.95 billion U.S. dollars in 2014, accounting for 4.17 percent of the country’s GDP, Brazil’s Central Bank announced Friday.
Jan 252015
Jan 252015
Chinese police have busted a major group making and selling counterfeit railway tickets and detained five suspects on criminal charges, according to a Sunday statement from the Ministry of Public Security.
The case dates back to December last year when police in east China’s Jiangxi Province found a man who purchased two fake train tickets from an online store ran by a person surnamed Cui. Police authentication showed that the two tickets were very elaborately made and non-professionals would have difficulties discerning them.
Follow-up investigations found that Cui’s store clocked some 1,750 deals and made a profit of 300,000 yuan (48,100 U.S. dollars) between last September and December.
Tracing the source of ticket deliveries to a county in central China’s Hubei Province, police nabbed four suspects who ran the business under the identity of Cui, confiscating paper, ink, computers, printers and scanners there on Dec. 26.
Their underground workshop was busted the following day.
The suspects began making and selling fake tickets in October 2013, and pocketed more than 980,000 yuan from the sales of over 25,000 tickets, said the statement, citing their testimonies to the police.
The fifth suspect, surnamed Wang, was seized in the city of Cangzhou in north China’s Hebei Province for providing the group blank ticket papers as well as manufacturing devices.
The Chinese Lunar New Year, or Spring Festival, which falls on Feb. 19 for the year 2015, is a key Chinese holiday as hundreds of millions of people travel across the country for family reunions, putting a huge stress on transportation.
Jan 242015
China is ready to launch a deposit insurance scheme, a central bank official said Friday.
Jan 232015
The European Central Bank decided on Thursday to keep interest rates unchanged at historically low level and was expected to announce a quantitative easing program later.
Jan 112015
Lock-up shares worth nearly 36.88 billion yuan (6.02 billion U.S. dollars) will become eligible for trade on China’s stock markets in the coming week.
Jan 082015
China (Shanghai) Pilot Free Trade Zone on Wednesday launched a pilot program on parallel imports of cars, which allows dealers to purchase cars directly from abroad.
Jan 062015
France’s President Francois Hollande on Monday said Greek is free to exit from the single-currency bloc but the debt-ridden country has to respect its commitments.
Jan 022015
The Singapore economy grew by 1.5 percent on-year in the fourth quarter of 2014, compared to 2.8 percent in the previous quarter, according to advance estimates released by the Ministry of Trade and Industry (MTI) on Friday.
Jan 022015
With a stagnant housing market, Beijing has increased the ceiling of housing public accumulation fund loans from 800,000 yuan (130,000 U.S. dollars) to 1.2 million yuan, local authorities announced Wednesday.
Jan 022015
The trading value of China’s booming Peer-to-peer (P2P) platforms hit 250 billion yuan (about 41 billion U.S. dollars) for the whole of 2014, doubling 2013’s statistics, according to the Internet Society of China on Friday.