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CNOOC Ltd, China's biggest offshore oil explorer, agreed to buy a 50 percent stake in Argentine producer Bridas Corp for $3.1 billion to meet demand in the world's fastest-growing major economy. Bridas, controlled by Argentine businessman Carlos Bulgheroni, owns a 40 percent stake in Pan American Energy LLC, the country's largest crude oil exporter, an...
Japanese automakers' recent product recalls were not only a warning to Chinese homegrown brands not to expand too fast and ignore management and quality control, but also sounded an alarm to China's automobile recall system. "Although we seldom witness Chinese automakers' recall initiatives, it does not mean that their products are high quality," said ...
BEIJING - Chinese companies plan to bid for contracts of building high-speed railways in the United States as China is willing to share its advanced technologies, a senior official said on Saturday. "We have organized related companies to take part in bidding, and we have signed memorandum of cooperation with the railway authority in California,"said Wang...
The transformation of China's economic growth pattern will generally have a positive effect on the world economy, foreign economists and experts say. The transformation, which Premier Wen Jiabao said is imperative for China, has become one of the hot buttons at the annual plenary sessions of the national legislatures and has attracted world attention. ...
SHANGHAI/BEIJING - The vice president of the China Iron & Steel Association (CISA) and the heads of more than 10 Chinese steelmakers wrote a joint letter to Premier Wen Jiabao on March 11, asking him to take up the issue of rising iron ore import prices at a national level, the China Securities Journal reported on Saturday, quoting sources. The compan...
US retail sales unexpectedly rose last month, lifting optimism on the economic outlook, reported Dow Jones. Retail sales rose last month by 0.3 per cent, the US Commerce Department said Friday as electronic store sales soared. Economists surveyed by Dow Jones Newswires had forecast a 0.3 per cent decrease. Excluding the car sector, all other retail sale...
JPMorgan Chase & Co will set up a securities joint venture in China with First Capital Securities Co, two people with knowledge of the matter said. New York-based JPMorgan signed a memorandum of understanding with the Shenzhen-based securities firm this week, the people said, declining to be identified because they aren't authorized to discuss the de...
China's new loans last month, nearly half of the figure reported in January, indicated the country's policies to balance loan growth have taken effect, economists said Tuesday. New yuan-denominated loans stood at 700.1 billion yuan ($102.65 billion) in February, compared with 1.39 trillion yuan in January. and 1.07 trillion yuan a year earlier, the Peop...
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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