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The world economy is expected to contract in 2009 for the first time in 60 years as advanced economies will shrink sharply, the International Monetary Fund said on Thursday. Despite major stimulus packages announced by many economies, trade volumes have shrunk rapidly, while production and employment data suggest that global activity continues to contract...
The U.S. government plans to provide 5 billion U.S. dollars to financially troubled auto suppliers who are linked to the nation's three biggest automakers, a latest effort to help stabilize the auto industry. The money comes from the Obama administration's Troubled Assets Relief Program, or TARP, officials with knowledge of the plan was quoted as saying...
With the excitement aroused by the first house hunting group yet to fade, the second group is scheduled to depart for the US in the middle of next month. The number of applicants has already surpassed 200, said the organizer. The 40 bargain house hunters of the first house hunting group discovered that house prices in the US have yet to hit their lowest...
The Center for Food Safety (CFS) of Hong Kong Wednesday announced that the processing of applications for importing poultry and poultry products from Administrative Region 6 of Thailand (the central west part of the country) would resume with immediate effect. The center suspended the processing of applications following confirmation of an outbreak of th...
Coca-Cola Company and Huiyuan Juice Group said Wednesday that they respect the decision of the Ministry of Commerce (MOC) to reject Coca-Cola's 2.3 billion U.S. dollar bid for China's largest juice maker. Their statements came just hours after the MOC decision was announced. Huiyuan respects the decision made by the MOC. The group's production is nor...
Confidence in Hong Kong's trade sector has improved but is still weak, according to the latest HKTDC Export Confidence Index released on Wednesday by Hong Kong Trade Development Council (HKTDC). The quarterly-released index, which reflects the business sentiment of local exporters, stood at 25.8 in the first quarter of this year, compared with 22.3 in th...
Multinational corporations are closing factories and pulling back investment amid the global economic downturn, but not in China's Northeast. Business executives attribute their optimism and initiatives there to the region's reliable supplies of power, raw materials and cheap labor and the business opportunities in the Chinese market. We want to be ab...
Beijing Sanyuan Foods Co., the only listed company to sell melamine-free products during the country's dairy scandal, said Wednesday that its net profit in 2008 jumped 87.2 percent from a year earlier. Net profit rose to around 40.75 million yuan (about 5.96 million U.S. dollars), up from 21.77 million yuan in 2007. Earnings per share was 0.06 yuan last ...
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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