The Philippines needs to develop new overseas markets so that a maritime standoff with China, which has thrown relations into turmoil, does not take a toll on tourism and fruit exports, a senior official said on Thursday. China has tightened… Read More ›
Chinese Premier Wen Jiabao urged northeast Asian powers to cooperate more in the face of global economic headwinds, as China, Japan and South Korea agreed at a summit on Sunday to soon launch negotiations on a three-way free trade pact…. Read More ›
The quarantine bureau has rejected a consignment of US pork after tests found traces of a banned drug in meat shipments totalling 103.5 tonnes, but there was no immediate threat of broader retaliatory measures. The March shipments of frozen pork… Read More ›
The three experimental development zones in Guangdong have agreed to set up joint conferences to solve problems ranging from vicious competition among them to overlapping of industrial strategies, but some analysts are sceptical about the drive. Nansha in Guangzhou, Qianhai… Read More ›
The Canton Fair, one of the country’s biggest trade fairs and a barometer of the health of the export sector, ended on a sombre note, with orders from overseas buyers down and traders reporting that most new contracts were kept… Read More ›
As China’s economy cools, some big U.S. and European companies are losing what had been one of their surest growth bets. Caterpillar Inc, 3M Co, United Technologies Corp and ABB Ltd are among the manufacturers that have reported weak performances… Read More ›
China Eastern Airlines is set to place a $6 billion order for up to 20 Boeing 777 jets, while simultaneously emerging at the centre of an aviation row between China and the European Union by stalling a recent Airbus deal, people… Read More ›
Argentina’s move to nationalise local oil company YPF, controlled by Spain’s Repsol, has spoiled years of planning by China’s Sinopec Group to buy the South American company, sources said. Bankers said China’s second-largest oil company had held talks with Repsol… Read More ›
Wal-Mart Stores is emphasising improving results in international markets where it already operates, such as China, over entering new markets, its top international executive said on Thursday. “Our focus this year in particular has been on improving returns with our… Read More ›
China is set to reveal its weakest quarter of annual growth in nearly three years on Friday, with investors fretting the economy could cool even further in coming months and further dampen global growth. Economists polled by Reuters expect China… Read More ›
The aggressive government mandated consolidation of the coal mining industry beginning in 2009 coincided with the darkest days of the world financial crisis. PUDA management either had to become a consolidator, requiring massive additional capital, or else dispose of its coal businesses. Management, lead… Read More ›
Last year Muddy Waters (a firm which specialises in exposing Chinese stock fraud) announced coverage on Sino-Forest, a Chinese timber company with a strong sell and $1 price target-citing fraud. The newsworthy thing about this was that large trading institutions… Read More ›
Longtop Financial, a popular Chinese software company, was exposed as a colossal fraud last year .The “cash balance” on Longtop’s balance sheet, it turned out, was fake; a fiction created by the company’s managers and helpers. The Longtop fraud followed… Read More ›
China on Sunday established a rare earth industry association in a bid to clean up an industry that has come under fire internationally for violating trade rules, Reuters reported, quoting state media. Su Bo, vice minister of industry and information… Read More ›
The fourth annual BRICS summit, to be held in New Delhi on Thursday, will cover a wide range of topics of interest to member countries Brazil, Russia, India, China and South Africa. One of the topics for discussion will be… Read More ›
Night Dragon. Operation Aurora. Operation Shady RAT. In the past several years, internet security company McAfee and various media groups have pinned a series of high-profile hacker attacks with names worthy of spy novels on China-based groups. Yet the attacks… Read More ›
Sino-Forest Corp. said Thursday that Ernst & Young had resigned as its auditor, The Wall Street Journal reported. The setback follows the Chinese timber company’s attainment of creditor protection last week, as it continues to sell off most of its assets…. Read More ›
China P&I club, the nation’s key ship insurer, will stop indemnity coverage for tankers carrying Iranian oil starting in July in order to abide by tightened Western sanctions against Iran following similar action in Japan, The New York Times reported…. Read More ›
PetroChina is in talks with Royal Dutch Shell and Hess Corp (HES.NYSE) to explore shale oil in Xinjiang’s Santanghu Basin, Reuters reported, citing parent China National Petroleum Corp in a company-owned newspaper. PetroChina has already drilled 35 wells in the… Read More ›
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