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The People's Bank of China (PBC) and the Monetary Authority of Singapore (MAS) on Friday announced the establishment of a bilateral currency swap arrangement. According to a statement by the MAS, the bilateral currency swap arrangement, aiming to promote bilateral trade and direct investment for economic development of the two countries, is a key pilla...
Japan's exports rose 27.7 percent in June over the same month a year earlier, according to a report released by the Ministry of Finance (MOF) on Monday. The data revealed the trade surplus grew 41.1 percent to 687 billion yen (7.8 billion U.S. dollars), which was below the economists' expectations. Exports for the January-June period totaled 33,09...
PetroChina Co's Dalian oil refinery, the company's biggest, is operating at a normal rate even as an oil spill closed nearby berths, because the plant relies on its own docks to ensure steady crude supplies and fuel shipments. The plant is operating at 95 percent of capacity, said a PetroChina official at Dalian who declined to be named because he isn...
The Chinese economy's strong economic growth and its demand for imports are important factors in the stabilization of the global economy, director general of the World Trade Organization (WTO) Pascal Lamy said Thursday. Lamy made the remarks at the Shanghai World Expo. He said many economies increased their exports to China during the global slowdo...
The Philippine government is planning to reduce its rice imports next year, possibly by as much as half of what it imported in 2010, Agriculture Secretary Proceso J. Alcala said Thursday. "We will check (if we can halve importation). We're now discussing rice production and importation. (The imports) will surely be less than what we have imported this ...
BEIJING - Wuhan Iron & Steel Group, China's third-biggest steelmaker, will buy iron ore from Venezuela at a long-term contract price this year, paving the way for a "China Price" separate from what the big three global miners are charging. The price of iron ore from Corp Venezolana de Guayana (CVG) for 2010 will be $20 per ton lower than what Vale ...
Motorola Inc, the US maker of mobile phones and two-way radios, sued rival Huawei Technologies Co for allegedly conspiring with former employees to steal trade secrets. Huawei began receiving the information as early as 2001, Schaumburg, Illinois-based Motorola claimed in an amended lawsuit filed July 16 in federal court in Chicago. Motorola origi...
FARNBOROUGH, UK - Dunlop Aircraft Tyres (DAT), the world's only specialist aircraft tire manufacturer, said on Tuesday (local time) the company may open its first overseas factory in China in the next few years. Speaking at the Farnborough International Airshow (FIA), DAT Chairman Ian Edmondson said that a move to China may take place in "five years ti...
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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