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SINGAPORE Trade and Industry Minister Lim Hng Kiang opened the Latin Asia Business Forum held in Fullerton Hotel, Singapore by highlighting the synergies between the two regions and its country's trade rebounding with Latin America in the first half of 2010. Economists are forecasting healthy growth in both regions this year, said Mr Lim, with Latin Am...
DEVELOPING countries are becoming a new engine of global growth and a pulling force for advanced economies, says a new World Bank study. Growth in developing countries is estimated to reach 6.1 per cent in 2010, 5.9 per cent in 2011, and 6.1 per cent in 2012, while in high-income countries, it is expected to reach 2.3 per cent in 2010, 2.4 per cent in 2...
NEW YORK - Visiting Chinese Premier Wen Jiabao said here Wednesday there was no basis for the drastic appreciation of the yuan, the Chinese currency. During a speech at a welcome banquet by US-China friendship organizations, Wen said the issue of the yuan exchange rate was an economic one and must not be politicized. Some have linked the yuan exchan...
BEIJING - The yuan hit a new high on Tuesday amid fresh US calls for a faster currency appreciation, but economists said China should brush aside foreign pressure and decide the pace of exchange rate reform in accordance with its own economic conditions. The yuan was traded at 6.6997 against the greenback on Tuesday, the highest level since June 19 when...
BEIJING - Bank of Communications (BOCOM), mainland's fifth largest lender by assets, Friday announced that it had established a representative office in Taiwan, the first such office set up by a bank from the Chinese mainland. A BOCOM spokesperson said the move would help strengthen information exchanges between financial institutions and consumers acr...
BEIJING - China's software industry posted revenues of 828.6 billion yuan ($123.67 billion) in the first eight months of 2010, up 29.8 percent from one year earlier, the Ministry of Industry and Information Technology said Saturday. The growth rate was 8.8 percentage points higher than in the same period last year, according to the statement posted on ...
BEIJING - Apple Inc will introduce the iPhone 4 and open two more retail outlets in Beijing and Shanghai on Saturday, which will squeeze the lucrative gray market for the popular gadget. Apple and China Unicom said earlier this month that the iPhone 4 would be available in the Chinese mainland from Saturday, retailing at Apple retail stores for 4,999 yu...
NEW YORK - The value of China's currency is not the main reason for the United States' trade deficit with China or its high rate of unemployment, Premier Wen Jiabao said in advance of a meeting with US President Barack Obama. Wen repeated his stance on several occasions during his trip to New York against the backdrop of the trade issue growing into a...
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