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Asian European Stocks Plunge on Weak Chinese Factory Data
Japan's Nikkei stock index tumbled 7.3 percent after release of the report showing Chinese factory production dropped in May for the first time in seven months. It was the biggest one-day loss since Japan's March 2011 tsunami and nuclear disaster. Stocks in London, Paris and Frankfurt followed suit, dropping about 2 percent. U.S. future indexes fell ahead of the opening of ...
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N. Korea wants peace envoy tells China official
BEIJING (AFP) - A special envoy from North Korean leader Kim Jong-Un told one of China's top officials Thursday that Pyongyang wants peace and is willing to pursue dialogue with key countries, state media reported.Envoy Choe Ryong-Hae met Liu Yunshan, a member of the Chinese Communist Party's highest ranking body the Politburo Standing Committee, state television reported on its ...
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Loonie heads higher despite disappointing Chinese factory data
The Canadian dollar headed higher Thursday despite weaker-than-expected manufacturing data from China.The loonie was ahead 0.21 of a cent to 96.62 cents (U.S.).HSBC reported that its preliminary Purchasing Managers Index fell to a seven-month low of 49.6 in May from April's 50.4. Numbers below 50 indicate that activity is contracting. Analysts had expected a more modest decline to ...
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Not just state-sponsored China’s hacking culture thrives in corporate criminal worlds
People walk past 'Unit 61398', a secretive Chinese military unit, in the outskirts of Shanghai, Feb. 19, 2013. The unit is believed to be behind a series of hacking attacks, a U.S. computer security company said, prompting a strong denial by China and accusations that it was in fact the victim of U.S. hacking. (Carlos ...
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China Gives and China Taketh Away
report of the Commission on the Theft of American Intellectual Property asserting China is responsible for up to 80 percent of the $300 billion theft of intellectual property from companies in the Untied States and other advanced economies. The keynote speaker at the CSIS conference was China's Ambassador to Washington Cui Tiankai. The ambassador already has established a reputation for ...
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Boeing 787s entry to China cleared
The Civil Aviation Administration of China (CAAC) issued a certification for the Boeing 787 Dreamliner Thursday, a milestone for the 787 to begin commercial service in China.The CAAC presented Boeing with a Validation of Type Certification (VTC), indicating that the design of the 787 Dreamliner is compliant with China's aviation regulations and that China endorses the original type ...
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UPDATE 6-Oil hits three-week low near $101 on China Fed
Thu May 23, 2013 9:56am EDT * Chinese factory activity shrinks, raising demand doubts * Dollar supported by speculation of stimulus scale back * Euro zone business downturn eases in May-PMI * U.S. gasoline stocks buoyant ahead of driving season (Updates with three-week low) By Alex Lawler LONDON, May 23 (Reuters) - Oil fell to a three-week low near $101 a barrel on Thursday in a broader ...
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In China No Monetary Stimulus Weakening Economy
Down it goes Investors have learned two things since 2008; don't fight the Fed is one of them. The other is to invest in stimulus. Big stimulus. None of this tax break stuff to one or two sectors. We are talking bazillions thrown at the entire economy coupled with market friendly monetary policy. China has done nothing of the sort since 2010. And as a result, the market has shunned ...
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Chinas Favorite U.S. States In 2012
Who would have known it? China is buying Made in the U.S.A. Many sectors and states from across the country are selling more to China these days. In fact, between 2003 and 2012 total exports to China rose 294%, an increase of nearly $81 billion. Forty-two states have achieved triple-digit export growth to China since 2003, and four states experienced quadruple-digit growth over the same period ...
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Beijing authorities on the alert for floods
/enpproperty--> Waterproof walls will be set up outside pits for the construction of new subway lines as authorities in Beijing brace for a possible repetition of last year's floods that killed 77 people. In a regulation issued on Thursday, the Beijing Municipal Commission of Housing and Urban-Rural Development ordered that all the 307 construction pits must have waterproof walls to ...
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Guangzhou oysters contaminated by cadmium
/enpproperty--> Oyster fans might want to reduce their consumption of the mollusks as test results in Guangzhou showed they contained excessive amounts of cadmium and other heavy metals. Following a scandal of cadmium-tainted rice in the southern province, China Central Television reported that 1 kilogram of oysters sold at a Guangzhou restaurant, famous for grilled oysters, contained 2 mg ...
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HSBC China’s net profit up 8.6 in 2012
/enpproperty--> HSBC Bank (China)'s net profit increased 8.6 percent year-on-year in 2012 to 4.48 billion yuan ($723.57 million), according to the lender's financial report released on Wednesday. By the end of 2012, the total value of loans of HSBC Bank (China) reached 131.9 billion yuan, up 18.6 percent year-on-year, while the total value of deposits was at 182.3 billion yuan, up ...
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Civil aviation industry sees 100 b yuan revenue
/enpproperty--> The Chinese government released on May 23 the first long-term State-level development plan of the civil aviation industry. The operating revenue of the Chinese civil aviation industry will exceed 100 billion yuan ($16.3 billion) by 2020, and China-made aircraft will comprise over 5 percent of the newly increased market share in China by then, according to the plan, released ...
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DPRK willing to accept Chinas advice
/enpproperty--> BEIJING - The Democratic People's Republic of Korea (DPRK) has agreed to accept China's advice by participating in dialogue with relevant parties, after senior Chinese leader Liu Yunshan met with a DPRK special envoy. Liu, a member of the Standing Committee of the Political Bureau of the Chinese Communist Party (CPC) Central Committee, met in the Great Hall of the ...
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Willing to take Chinas advice to start talks North Korea says
BEIJING: North Korea is willing to take China's advice and enter into talks, Chinese state television cited an envoy of North Korean leader Kim Jong-un as saying, following weeks of tension on the Korean peninsula after the North's latest nuclear test. However, that prospect seems unlikely as North Korea has repeatedly said it will not abandon nuclear weapons while the United States ...
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Global markets fall on news from Fed China PMI
USA The Japanese Nikkei lost 7.3 percent on Thursday, the worst loss in over two years, after China released unexpectedly weak Flash PMI accompanied by hints that the US Federal Reserve could shut down its stimulus program in ...
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Rusal’s new director entangled in Hong Kong trading scandal
Russia and the global economy Rusal, the world's largest aluminum producer, is without the company's independent non-executive director Barry Cheung Chun-Yuen, who has taken a leave of absence following an investigation into the Hong Kong Mercantile Exchange (HKMEx) which he chairs. The Hong Kong Securities and Futures ...
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US STOCKS SNAPSHOT-Wall St falls at open on stimulus worry China data
NEW YORK | Thu May 23, 2013 9:37am EDT NEW YORK May 23 (Reuters) - U.S. stocks fell at the open on Thursday, putting the S&P 500 on track for its first back-to-back daily drop in a month, on concerns the U.S. Federal Reserve's stimulus measures may be scaled back sooner than hoped and over weak data in China. The Dow Jones industrial average fell 75.55 points, or 0.49 percent, to ...
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The Big news overnight came from China
Good day. And a Tub Thumpin' Thursday to you! What the heck was I thinking, was running through my mind when the alarm went off this morning. In an attempt to relieve Chris from having to write the Pfennig this morning, I told him not to worry about it, I would write it.. All the time knowing that my flight from Houston wasn't getting in until very, very late.. And that was before all ...
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China formally approves Boeings Dreamliner for use
BEIJING | Thu May 23, 2013 9:32am EDT BEIJING May 23 (Reuters) - China's civil aviation regulator on Thursday formally approved Boeing Co's 787 Dreamliner for use in the country, clearing the way for Chinese airlines to start operating the aircraft, which has been plagued with problems. The regulator made the announcement in a short statement on its website (www.caac.gov.cn), ...
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US report warns on Chinas massive IP theft
WASHINGTON: The "unprecedented" theft of American intellectual property (IP) is costing the nation a whopping % 300 billion annually and the main culprit is China, according to a study which recommended sanctions as tough as those used to combat terrorism and drug trafficking. "The scale of international theft of American intellectual property is unprecedented -- hundreds of ...
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PRECIOUS-Gold up as dollar shares slide after China Europe data
* U.S. dollar falls 0.5 percent vs basket of currencies * China PMI shrinks for first time in 7 months * U.S. weekly jobless claims at 1230 GMT eyed (Updates prices) By Clara Denina LONDON, May 23 (Reuters) - Gold bounced back on Thursday from the previous session's losses as the dollar fell sharply and European shares dropped after weak economic data in China and Europe. A euro ...
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COMMODITIES-Metals oil bruised by China PMI gold bounces
Thu May 23, 2013 9:18am EDT * Copper falls as much as 3 pct, oil down for third day * Gold bounces, grains shake off weakness on strong demand * China PMI shrinks for first time in 7 months-HSBC * Euro zone PMI signals economy to shrink in Q2 (Adds details, quotes; updates prices) By Eric Onstad and Manolo Serapio Jr LONDON/SINGAPORE, May 23 (Reuters) - Copper slid 3 percent and oil dropped ...
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Global Stocks Slip on Signs of Economic Stress in China and Japan
HONG KONG ...
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China survive Indonesia scare in Sudirman Cup
KUALA LUMPUR (AFP) - Defending champions China had to dig deep to avoid a surprise defeat to Indonesia, winning 3-2 on Thursday in the quarter-finals of the Sudirman Cup.Two days after whipping their arch rivals 5-0 in a group match, China, who have not lost a tie since falling 2-3 to South Korea in the 2003 final, were stunned by a determined and gallant Indonesian outfit.But Chinese supremo Li ...
Shanghai Focus
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Shanghai looking ahead to future
Shanghai is the commercial capital of China and the most populous city in the People’s Republic, with origins as a small fishing village, the city has grown into a global city with fingers that stretch across the world, exerting global influence over international cultural, commercial and political scenes. With major projects and programs underway, the future looks bright for Shanghai.
It was recently reported by international, Chinese and Shanghai news media that China had eclipsed Japan as the second-largest economy in the world. China’s GDP and economic activity has surpassed that of Japan for many decades, but the announcement was made on the back of a range of factors including imports and exports and the human development index within major cities such as Shanghai. Read more
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