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BEIJING: Chinese shipbuilders almost doubled production in the first five months of the year with output surging 94 percent year-on-year to 23.65 million deadweight tonnages, the Ministry of Industry and Information Technology (MIIT) said Thursday. About 81 percent of the vessels built in the January to May period were for export. Chinese shipbu...
THE US trade deficit widened slightly in April, though the more striking news was that both export and import volumes fell sharply, says IHS Global Insight Chief US economist Nigel Gault. The trade deficit widened to US$40.3 billion in April from a downwardly revised $40 billion in March. In value terms, exports fell 0.7 per cent while imports fell 0.4 pe...
BEIJING - China's new regulations that require IT vendors engaged in supplying the government to disclose details of encryption technologies have raised eyebrows in some foreign firms. But industry experts said the real impact of the new rules might be limited as IT products only account for a small portion of government procurement. "Although the volu...
BEIJING - Authorities will restrict energy supply in areas with excessive increases in energy usage and high energy-consuming industries, said a high-ranking official with the National Development and Reform Commission (NDRC), the country's top economic planning body. The practice of uncapped energy supply and the uncontrolled use of energy will change...
AUCKLAND: Chinese Vice President Xi Jinping on Thursday called for more cooperation between China and New Zealand in various fields so as to elevating the bilateral relations up to a higher level. Speaking at the opening ceremony of China-New Zealand Free Trade Agreement Seminar held in Auckland, Xi, who arrived here Thursday morning for a three-day offic...
BRUSSELS: Two Chinese dairy producers, Mengniu and Yili, entered the world's top 20 dairy ranking last year, according to an annual report released on Wednesday. Mengniu, with a turnover of $3.77 billion in 2009, ranked the 16th in the top-20 list, Dutch financial group Rabobank said in the report. It was the second year that Mengniu, the large...
WASHINGTON: US President Barack Obama on Wednesday announced that British oil giant BP has agreed to put about $20 billion into an escrow account for claims related to the Gulf of Mexico oil spill, after talks with top BP executives in the White House. During the meeting with Obama and Vice President Joe Biden, Carl-Henric Svanberg, Chairman of BP...
A leading indicator for China jumped by the most in 14 months, adding to signs that the world's third-biggest economy is maintaining momentum as Europe's debt crisis threatens to undermine the global recovery. The measure gained 1.7 percent to 147.1 in April, compared with a revised 1.2 percent increase in March, The Conference Board said on its website...
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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