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China, the world's second-largest oil consumer, is lowering the price of jet fuel by about 4 percent as crude oil costs declined, said the National Development and Reform Commission (NDRC), the nation's top economic planner. The price refiners charge wholesalers for jet fuel will drop by 200 yuan ($29) tomorrow to 4,870 yuan a metric ton, the NDRC said ...
Time Warner, the world's leading media and entertainment conglomerate, is eyeing China's faster market expansion after the government issued a new plan to encourage private and foreign investment in the cultural sector, a senior company executive said on Friday. Company officials are "particularly interested" in the plan to lower the market access thres...
Stocks of China's gold miners reached their daily limit soon after the Shanghai and Shenzhen bourses resumed trading on Friday, fuelled by record prices for the precious metal. Zijin Mining, Zhongjin Gold and Shandong Gold rose the maximum permitted 10 percent after the market opened after the eight-day National Day holiday, quickly followed by gold reta...
China National Petroleum Corp (CNPC), China's largest oil and gas producer, and Britain's oil giant BP signed an initial agreement on Thursday with Iraq's Oil Ministry to develop Rumaila, Iraq's largest oilfield. "The signed contract will be referred to the cabinet for approval," said Iraq's Oil Ministry spokesman Asim Jihad. "The ministry will set a...
DETROIT: Hummer, the off-road vehicle that once epitomized America's love for hulking trucks, is now in the hands of a Chinese heavy equipment maker. General Motors Co and Sichuan Tengzhong Heavy Industrial Machinery Corp finally signed the much-anticipated deal for GM to sell the brand on Friday. Tengzhong will get an 80 percent stake in the company, ...
China's economic growth rate exceeded eight percent by the end of September, Liu Mingkang,the chairman of the country's banking regulatory commission was quoted as saying on Friday. But Liu said the global crisis "isn't behind us yet" and it was too soon to start talking about an exit strategy from the government's massive stimulus measures, Dow Jones...
China's railway transportation operation has been managed in order during the travel peak in the nation's eight days National Day holiday, said the Ministry of Railway Thursday. Railways carried 5.97 million passengers on Wednesday, and 54.5 million during October 1-7, according to the ministry. The country's transportation department has added 284 t...
Beijing and Shanghai, China's two biggest cities, have received a huge number of tourists during the National Day holiday, local tourism authorities said Thursday. A total of 15 million tourists have visited Beijing during the eight-day holiday, up 59 percent from the same period last year. Tourism revenue in Beijing rose 3.1 percent year-on-year to a ...
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