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The Chinese currency Renminbi, or the yuan, weakened 15 basis points to 6.4998 per U.S. dollar on Monday, snapping the streak of appreciation for three consecutive trading days, according to the China Foreign Exchange Trading system. It hit a new high of 6.4948 per U.S. dollar on May 11. On China's foreign exchange spot market, the yuan can rise or fal...
Several Australian iron-ore explorers have formed an alliance to develop mining infrastructure in South Australia (SA) and New South Wales (NSW), the Braemar Iron Alliance said on Monday. The Alliance comprises listed companies Carpentaria Exploration, Havilah Resources, Minotaur Exploration, Royal Resources and U3O8 and private companies Sinosteel PepinN...
Taming China's inflation has topped media headlines over the past months. However, economists said instead of coming down, mild inflation would accompany China for a relatively long period of time. China's inflation stayed stubbornly high in April, in spite of the government's efforts. The consumer price index, a main gauge of inflation, rose 5.3 perce...
South Korea's national tax revenue rose 9.2 percent in the first quarter from a year earlier due to positive economic conditions, the tax agency said Monday. National taxes collected during the first three months of this year reached 47.6 trillion won (43.52 billion U.S. dollars), up 9. 2 percent from the previous year, the National Tax Service (NTS) sai...
China's April crude oil inventory rose 2.3 percent from March, but stocks of refined petroleum products dipped 2.9 percent month-on-month, according to data released by Xinhua's financial information branch, Xinhua 08, on Friday. Of the refined oil products inventory, gasoline stocks fell 2 percent, diesel dropped 3.4 percent and kerosene declined 4 per...
Emerging economies deserve a greater role at key global forums such as the International Monetary Fund and the World Bank, as they are projected to account for 70-80 percent of the world's economic growth in the next decade or so, said a U.S. expert. However, a heavy reliance on energy imports could be a threat to the fast growth of some emerging economi...
Pakistan and China should put more emphasis on economic cooperation while maintaining the all-dimensional relationship, Pakistani Prime Minister Yousuf Raza Gilani said here Friday. During an exclusive interview with Xinhuanet, Gilani expressed that in light of the all-dimensional relationship, economic cooperation should be further enhanced. He proposed...
Afghan Cabinet in its special meeting with President Hamid Karzai on the chair, held Saturday discussed China's Aynak project investment, an official with Chinese Embassy in Kabul told Xinhua on Sunday. "Aynak Copper Mine is one of the most important economic projects in Afghan history, which has a great impact on the Afghan social and economic developme...
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