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June retail sales were more of a mixed bag than a solid indicator of the direction of consumer spending. According to the National Retail Federation, June retail industry sales (which exclude automobiles, gas stations, and restaurants) decreased 0.5 percent seasonally adjusted over May and increased 3.3 percent unadjusted year-over-year. June retail sal...
CHINA registered a 44 per cent increase in exports in June compared to the same month a year earlier. The US$20 billion result added to the surplus of $19.5 billion in May and indicates "China's external surplus might balloon in second half of year," reports London's Financial Times. "The June figures showed no signs of an expected slowing in glob...
WASHINGTON - The US trade deficit in May increased by 4.8 percent to $42.3 billion, the highest level in 18 months, the Commerce Department reported Tuesday. The May deficit was the largest imbalance since November 2008, and higher than economists had been expecting. In May, exports rose by 2.4 percent to $152.3 billion, while imports increased by 2...
TAIPEI - The mainland is in great need of LED blacklight device and we will visit main producers in Taiwan to discuss possible cooperation, said Bai Weimin, secretary general of the mainland-based China Video Industry Association, at a press conference here Tuesday. A delegation from the association has been visiting Taiwan since Monday. It is made up o...
BEIJING: China and Argentina signed railway deals totaling $10 billion on Tuesday, amid efforts by Beijing to forge stronger commercial ties with Latin America. Twelve agreements were reached between the two countries during Argentine President Cristina Fernandez de Kirchner's five-day visit to China. Six deals were inked at noon, witnessed by Kirchner...
The China National Offshore Oil Corporation (CNOOC) is eyeing Argentina and other Latin American countries for oil and gas development. CNOOC will facilitate this through a joint venture set up in March this year with Bridas Energy Holdings (BEH) of Argentina, said Fu Chengyu, president of CNOOC during a meeting with Julio de Vido, Argentinean min...
KUERLE, Xinjiang: China National Petroleum Corp (CNPC) on Tuesday started work on two projects in Xinjiang Uygur autonomous region, in line with the central government's plan to boost development of the region. The total investment planned for the two projects is 9.1 billion yuan and will help the energy-rich region better use its natural gas resources...
BEIJING - China has replaced India as the primary destination of outsourcing and shared services for Asia-Pacific companies, accounting firm KPMG revealed on Wednesday. The KPMG survey, which covered 280 senior company executives across Asia, showed that China's outsourcing and shared services are rapidly expanding and winning market share over India a...
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