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World Bank economists yesterday warned about the risks of asset bubbles in China even as the government tries to hold back excessive lending and keep prices stable. Asset price inflation, or increases in housing prices in particular, is potentially "very dangerous" for China because they are self-reinforcing, made possible by "very cheap credit", said Han...
Poly Real Estate Group Co, Ltd, China's leading property developer, estimated on Sunday its profit shot up around 50 percent in 2009 boosted by strong sales and rocketing property prices. The profit was expected to total 2.24 billion yuan ($329 million), the Shanghai-listed company said in a statement on the exchanges's website. Earnings per share sto...
The Bank of China (BOC) board has agreed to sell up to 40 billion yuan ($5.86 billion) of bonds convertible to A shares to improve capital adequacy. The proposal will be turned into the first temporary shareholders' meeting in 2010, which will be held on March 19, for approval. Excluding issuance costs, the proceeds from the issuance of the six-year co...
Australian mineral explorer Venus Resources Ltd announced on Monday it had entered into share subscription and joint venture deals with a Chinese entity. Venus recently expanded its exploration focus to identify world-class iron ore, precious metals, uranium and base metal exploration targets within prospective, mineral-rich orogenic belts of Western Aust...
A trilateral meeting among three Northeast Asian countries is slated for Tuesday in Seoul as the three countries seek to launch a joint research on a free trade pact, Seoul's trade ministry said Monday. According to the Ministry of Foreign Affairs and Trade, the three Northeastern countries are set to discuss on terms of reference on the joint research, ...
The Sino-Kazak Pipeline has piped more than 20 million tons of crude oil from Kazakhstan to China since it became operational in 2006, according to the regional government of Xinjiang. Last year, the pipeline carried 7.73 million tons of crude oil into China, up 26 percent year-on-year, the inspection and quarantine bureau in the northwestern Xinjiang Uyg...
China's largest privately-owned car maker Geely will pay even less than $1.6 billion for Volvo, the Economic Observer reported on Monday, citing an unnamed source. The source added that Volvo would not cost Geely more than $1.8 billion. The net assets of Volvo to be bought by Greely were evaluated at $1.5 billion. In 1999, Volvo cost Ford $6.45 billion...
Government plans to make China's southern island province of Hainan an international tourist resort have cut the supply of housing as owners and developers hold out for huge profits. More than 200 property buyers had arrived everyday since the end of last year when the government unveiled plans to turn the tropical island into a top international destina...
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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