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US President Barack Obama should not approve the proposed tariff remedy plan on Chinese tires, as it is an unfair and unreasonable consideration, Chinese officials and experts said. The Ministry of Commerce said last Friday on its website that the Chinese government "strongly opposes" the US' proposed limitation on Chinese tire imports, as such a move is...
Chinese banking regulators reiterated yesterday that banks should carefully control credit risks while extending loans to support economic growth. Credit concentration in certain industries, regions or businesses could make banks more vulnerable to macroeconomic swings and corporate operational cycles, Wang Huaqing, disciplinary secretary of the China Ban...
China National Petroleum Corp, the country's largest oil company, could pay up to $14.5 billion for 75 percent of Spanish oil major Repsol's Argentine unit YPF, sources said yesterday. CNPC, the parent company of top Asian oil and gas firm PetroChina, and Repsol have begun talks, sources with knowledge of the matter said. The sources, not authorized t...
Italy's Fiat and China's Guangzhou Automobile Group will launch a multi-billion yuan joint venture to produce Fiat cars in Changsha, Hunan province, it was announced Monday. The work will begin in the second half of 2011. The agreement was one of nine signed by the Chinese and Italian sides during President Hu Jintao's state visit to Italy. Hu and ...
China backed down on iron ore prices, signing up to the same 33 percent price cut agreed by Asian rivals but only for a six-month period rather than a full year, the China Business News said on Wednesday, citing informed sources it did not name. The Shanghai-based newspaper said China had agreed to pay $0.97 per dry metric ton unit for Pilbara blend fines...
Riot-plagued Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, was slowly returning calm but traffic blockade remained in some streets Monday night after the riot on Sunday evening killed at least 156 people. Police officers were seen wearing riot gear and standing guard in downtown areas. Police vehicles kept patrolling the blockade...
OECD head says trade finance now ‘selectively more open’ Although trade financing is becoming easier for exporters to access, many major transactions are still frozen because of financing trouble, said Angel Gurria, secretary general of the Organization for Economic Cooperation and Development on Monday. Gurria said trade finance had gon...
Three engineering groups compete to build third set of locks for Panama Canal The Panama Canal Authority will open bids on July 8 from three competing global engineering groups to build a third set of canal locks. The three bids, which have been locked in a bank vault since the consortia submitted them, contain the pricing proposals and tec...
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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