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Economic activity in the United States has continued to increase since early June, but the recovery seems to have lost some momentum in some parts of the country, the Federal Reserve said on Wednesday in its latest survey on business conditions. The survey, known as the Beige Book, was based on economic information supplied by the Fed's 12 regional ban...
BEIJING - Aluminum Corp of China (Chinalco) on Thursday signed a $1.35 billion agreement with global miner Rio Tinto to develop the Simandou iron ore project in the West African country of Guinea. The move also marks the end of the stalemate between China and the global miner on cooperation after ties soured in June this year. The agreement was sign...
BEIJING - The People's Bank of China (PBOC), the central bank, said on Tuesday that while it is possible for China's economic growth to slow, the chances of a "double dip" are seen as slim. Current economic development has revealed signs of a slowdown in the country's growth, though the economic fundamentals remain strong, the nation's central bank ...
BEIJING - China National Aviation Holding Company is to take over China Aviation Supplies Holding Company (CASC), a major aircraft and material provider for domestic airlines, which is part of the government's plan to consolidate the aviation industry, a source knowledgeable with the deal told China Daily on Tuesday. The proposal is subject to approval...
Asia is boosting consumption of liquefied natural gas (LNG) relative to oil as nations from China to India try to pollute less while driving economic growth. The demand for LNG in China and India is growing as much as nine times faster than that for crude, according to calculations based on data compiled from Facts Global Energy, BP Plc and the Internat...
HONG KONG - The value of Hong Kong's total exports and imports of goods in June grew 26.7 percent and 31 percent year-on-year, reflecting the robust growth of Asian markets and the gradual recovery in the advanced economies, the city's Census and Statistics Department said Tuesday. The value of total exports, comprising re-exports and domestic exports...
BEIJING - The State Grid Corp of China has signed a framework agreement with the Russian national grid operator to extend their collaboration on grid technology, cooperation and management, the company said on Wednesday. The cooperation will cover "technology and experience exchange, power grid construction and management, equipment supply, and technolo...
Chicago wheat surged to a 13-month high Wednesday on speculations that the severe and persistent drought held southern Russia in its grip may largely reduce its wheat exports and increase demand for U.S exports. Soybean and corn both rallied. September wheat surged 20.5 cents, or 3.4 percent, to 6.155 U.S. dollars per bushel, the price reached 6.2325 do...
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