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BEIJING - China wants the United States to reform its control system for exports and increase transparency for investment approvals, Vice Commerce Minister Ma Xiuhong said on Thursday. Ma made the comments during a meeting with US Commerce Secretary Gary Locke who is visiting China, according to a statement published on the commerce ministry's website. ...
BRASILIA,Brazil - The Brazilian economy grew by 9.84 percent in the first quarter compared to the same period last year, official data showed Wednesday. According to the Central Bank's Index of Economic Activity (IBC-Br), the economy was up 2.38 percent compared to the fourth quarter of 2009. The IBC-Br, which is being presented for the first time, is ...
NEW YORK - Crude prices rebounded from a 7- month low in New York markets on Wednesday as US gasoline and distillate fuel inventories fell. Earlier in the day, crude prices fell by as much as $1.51 to $67.90 a barrel on the New York Mercantile Exchange. That was its lowest level since September 30, 2009. Oil prices rebounded later in the day as investor...
MUMBAI/SHANGHAI - Major Chinese truck maker Beiqi Foton Motor Co, a Daimler AG partner, is considering building a manufacturing plant in India, making 100,000 vehicles annually, three sources familiar with the situation said on Wednesday. "Beiqi has set up a special team for the India project and is currently selecting a site for a greenfield facility," o...
LONDON - The United States may fall victim to bond "vigilantes" targeting indebted nations from the United Kingdom to Japan in a potential second stage of the financial crisis, New York University professor Nouriel Roubini said. "Bond market vigilantes have already woken up in Greece, in Spain, in Portugal, in Ireland, in Iceland, and soon enough they cou...
VIENNA -- Chinese Minister of Commerce Chen Deming stressed Wednesday that, especially under the current financial crisis, the exchange rate stability is the most important, which is not only a national responsibility, but also a responsibility for the world economic recovery. At a press conference jointly held with Reinhold Mittelehner, the Austrian Mini...
BEIJING - China will rank as the world's biggest market for luxury goods in five years, a blue paper on China's commercial development from 2009 to 2010 released in Beijing Wednesday said. Released by the Chinese Academy of Social Sciences, the blue paper said China's luxury goods market had increased to $9.4 billion by the end of 2009, accounting for ...
VIENNA - Visiting Chinese Minister of Commerce Chen Deming stressed here on Wednesday that China will continue to stick to the policy of opening up and protecting the legitimate rights and interests of foreign-invested enterprises (FIEs) in the country. Speaking at a joint press conference with Reinhold Mittelehner, the Austrian economic affairs minister,...
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