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NEW DELHI - India's information technology (IT) companies started their businesses in China by serving large multinational clients in the country but now they are ramping up efforts to win more domestic companies in order to consolidate their foothold. Tata Consultancy Services Ltd (TCS), India's largest IT services company by sales, is leading the ef...
BEIJING - Chinese geologists have detected "super-thick" oil and gas-bearing stratums in the northern part of the South China Sea and identified 38 offshore oil and gas-bearing basins, a senior official said on Saturday. The outskirts of Songliao Basin in Northeast China, Yin'e Basin in North China and Qiangtang Basin on the Qinghai-Tibet Plateau have ...
SHANGHAI - China's net imports of oil products may fall 23 percent this year as the world's fastest-growing economy slows and domestic refiners expand capacity, according to the research unit of China National Petroleum Corp (CNPC). Net imports of products including gasoline, diesel, kerosene and naphtha may drop to 12.4 million tons from 16 million t...
Chongqing will levy a property tax on existing and newly built high-end commercial residential buildings, Shanghai Securities News reported Thursday, citing the city's Mayor Huang Qifan. But Huang did not disclose criteria for "high-end," nor did he reveal the tax rate, the paper said. The paper said the southwest municipality is likely to impose a...
BEIJING -- China announced on Thursday that the nation's qualified businesses and banks could settle their overseas direct investment in yuan, a move that could expand the Chinese currency's global reach and ease excessive liquidity domestically. The People's Bank of China (PBOC), or the central bank, said in a notice on its website that banks and bu...
SHANGHAI - One-third of China's cross-border trade may be settled in yuan by 2016, as the Chinese government pushes for the internationalization of the currency, said a senior economist with HSBC on Wednesday. "China's currency has been under-represented in global trade and capital markets, when compared to its trade and economic scale. But triggered ...
BEIJING - The Chinese yuan strengthened to a record high against the US dollar on Thursday to reach 6.5997 per dollar. The central parity rate of the Chinese currency, also known as the renminbi (RMB), was set 131 basis points lower than Wednesday's 6.6128, according to the China Foreign Exchange Trading System. China's central bank announced on J...
The country's GDP growth rate will slow to 8.7 percent this year from 10 percent in 2010, and a key challenge in 2011 will be to ensure that anti-inflationary measures do not "significantly" reduce growth, the World Bank said on Thursday. The bank estimates that global GDP, which expanded by 3.9 percent in 2010, will slow to 3.3 percent in 2011, before...
Port of Tallinn is the biggest port authority in Estonia and as far as both cargo and passenger traffic are taken into account, the biggest port on the shores of the Baltic Sea.
Qingdao Saint Voyage Logistics Inc. (SVL) is an Experienced International Shi
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