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MOSCOW - Russia's largest steelmaker Severstal said Friday its net loss widened to $785 million in the first quarter as it wrote down the value of an Italian unit it plans to sell. The figure compares to a $656 million loss in the same period a year earlier and a $162 million loss in the fourth quarter. Although sales were up 34 percent from a year earli...
ATHENS - The unemployment rate in Greece reached 12.1 percent in February, the Greek Statistics Agency announced Thursday. It is the worst figure reported in the country since January 2004. In January 2010, the unemployment rate was 11.3 percent and, with the debt-ridden country facing a deep recession, Greek and foreign officials and experts fear the n...
BEIJING - The World Bank Friday announced it had approved two loans totaling US$350 million to help China enhance food safety and improve roads in the country's northwest. A food safety project in northeast China's Jilin Province, one of the country's major agricultural provinces, would receive US$100 million to help improve agricultural product qualit...
JOHANNESBURG - Demand from China is one of the reasons for South Africa's total mining production rising for a third successive month in March, according to figures released on Thursday by Statistics South Africa. Growth was boosted particularly by demand from China and other fast-growing Asian economies, the Business Day newspaper in Johannesburg report...
SHANGHAI - China's benchmark stock index fell, paring a weekly gain, on concern government tightening measures including possibly a property tax and European nations' debt cutting will hurt global economic growth. Jiangxi Copper Co, the nation's biggest producer of the metal, lost 1.2 percent and PetroChina Co slipped 0.7 percent after raw material pri...
SHENZHEN - While China's economy is showing signs of recovery after the worldwide financial crisis, Jack Ma, chairman and chief executive of e-commerce company Alibaba Group, said the end of the financial crisis is yet to come. This year and the next two years will be the toughest period of the crisis, Ma said on Friday at the shareholders' meeting of A...
BEIJING - Although Nokia is proving slow in launching a smartphone to rival the iPhone, Blackberry or Gphone, it is being quick in its efforts to bring new services to low-end non-smartphone users. The world's biggest cellphone maker hopes by providing low-end users with services that previously were only available on expensive smartphones, these users w...
Beijing - China's foreign direct investment (FDI) grew by nearly 25 percent in April, an indication that the country remains a favorite destination for foreign capital. The Ministry of Commerce said on its website on Friday that China's FDI last month grew by 24.7 percent from a year earlier to hit $7.35 billion. From January to April, China attracted i...
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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