New Zealand seeks to minimize costs in tax sharing agreement with U.S.
WELLINGTON, May 14 (Xinhua) — The New Zealand government Tuesday sought to reassure financial services firms that it would seek to minimize compliance costs in its negotiations with the United States on an agreement to crack down on [...]
EU’s Rehn calls for taking next steps over banking union
BRUSSELS, May 13 (Xinhua) — Olli Rehn, the European Union’s (EU) economic and monetary affairs commissioner, late Monday called upon EU countries to take the next steps over the banking union.
“I believe our work on establishing [...]
China’s economic growth in 2013 expected to reach 8.2 pct: Morgan Stanley
HONG KONG, May 13 (Xinhua) — China’s economic growth in 2013 is expected to reach 8.2 percent, while the achievement of the target involving a higher probability to tip the risk towards bear case than before, an economist of Morgan [...]
French central bank estimates slight growth in second quarter
PARIS, May 13 (Xinhua) — France’s central bank on Monday estimated a slight rise in second-quarter economic growth to 0.1 percent.
Despite a grim business outlook in the eurozone, France’s industrial activity progressed in [...]
China’s fixed-asset investment up 20.6 pct in Jan-April
BEIJING, May 13 (Xinhua) — China’s urban fixed asset investment growth accelerated 20.6 percent year on year to 9.13 trillion yuan (147.29 billion U.S. dollars) in the first four months of the year, the National Bureau of Statistics [...]
Policy fine-tuning needed to support Chinas tepid economic recovery
By Fang Yang
BEIJING, May 13 (Xinhuanet) — Economic date in April suggested China’s policymakers to continue fine-tuning policies to support the tepid economic recovery.
China’s consumer price index (CPI), a main gauge of inflation, [...]
G7 FinMins meeting closes with agreement to promote bank reforms
LONDON, May 11 (Xinhua) — The two-day finance ministers and central bank governors meeting of the Group of Seven (G7) closed at the Hartwell House in Aylesbury of Buckinghamshire, southern England, on Saturday with no substantial agreements [...]
Gold rebound halted as fund outflows continue: expert
DUBAI, May 11 (Xinhua) — The sharp rebound in the yellow metal from two weeks ago was not sustainable due to the ongoing capital shifts into equities, an expert on precious metal said Saturday.
The price of gold lost 2.5 percent during [...]
G7 Finmins meet in London on world economic recovery
LONDON, May 10 (Xinhua) — Finance ministers and central bank governors from the Group of Seven (G7) industrialized nations countries are now gathering in London for a two-day meeting on world economic recovery, banking reform and monetary [...]
U.S. Postal Service posts 1.9 bln USD loss in 2nd fiscal quarter
WASHINGTON, May 10 (Xinhua) — The U.S. Postal Service (USPS) concluded the second quarter of its 2013 fiscal year, which ended on March 31, with a net loss of 1.9 billion U.S. dollars, said the independent federal agency on Friday.
The [...]
Infinity Plans to Invest in Ecological Valley Project of COFCO
It is reported by Reuters that Infinity, an Israeli PE fund, announced in Beijing on Friday that it plans to join hands with Israeli LR Group to invest and participate in the construction of Beijing Agricultural Ecological Valley Project of [...]
Minkang Biotechnology Completes Its Series A Financing
According to source from pedaily.cn on May 7, Beijing Minkang Biotechnology Co., Ltd. (Minkang Biotechnology) officially announced its completion of Series A financing by an exclusive investor Hidea (Tianjin) Investment Management Co., Ltd. [...]
Baidu Buys Online Video Business of PPS for US$370.00M
Baidu’s acquisition of PPS dropped the curtain finally on May, 7, when Baidu announced that it has paid US$ 370.00M to purchase online video business of PPS and will merge it with iqiyi.com. PPS will serve as a sub-brand of iqiyi.com to [...]
China’s April new loans drop
African Union (AU) Commission chair Nkosazana Dlamimi-Zuma said here on Thursday that she had high anticipations for Africa, a promising continent to be reckoned with.
Jan Slota, former head of the Slovak National Party (SNS), was detained [...]
Mengniu Increases Its Shares in Modern Dairy
According to source from pedaily.cn on May 8, China Mengniu Dairy Company Limited (Mengniu) together with China Modern Dairy Holdings Limited (Modern Dairy) announced today that Mengniu increases its shareholding ratio in Modern Dairy, up from [...]
Qihoo 360 to FullyAcquireSogoufor US$1.40B
According to source from TMTpost, Qihoo 360 proposed to pay US$ 1.40B to wholly purchase Sogou by means of cash-for stock transaction. Currently, the negotiation has already entered the final stage, and the cooperation framework has been basically [...]
Canada’s foreign investment increases in 2012
VANCOUVER, May 9 (Xinhua) — Canada’s overseas investment and foreign direct investment in the country both grew by more than 5 percent last year, Statistics Canada said Thursday.
Statistics showed that Canada’s direct investment [...]
China raises gasoline, diesel prices slightly
BEIJING, May 9 (Xinhua) — China will slightly hike gasoline and diesel prices starting Friday, the first increase since the fuel pricing scheme was reformed in March.
The retail price of both gasoline and diesel will be raised by 95 [...]
Commentary: EU solar duties targeting China could backfire