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Wall Street plunged on Thursday with the Dow Jones average dropping below 7,500 to a six-year low on financial woes and grim economic outlook. The Dow Jones industrial average was down 89.68, or 1.19 percent, to 7,465.95, the lowest close since October 2002. The Standard & Poor's 500 index fell 9.48, or 1.20 percent, to 778.94, and the Nasdaq composit...
Crude prices jumped on Thursday as U.S. oil inventories fell unexpectedly. The Energy Information Administration said crude stocks decreased by 200,000 barrels to 350.6 million barrels for the week ended Friday. Analysts had expected the stock to grow by 3.5 million barrels. Total gasoline inventories rose 1.1 million barrels last week, or 0.5 per...
Germany will not promise to offer financial support to those insolvent countries in the eurozone, said German Chancellor Angela Merkel on Thursday. At a joint press conference with visiting European Commission President Jose Manuel Barroso, Merkel said: "I will not allow Germany to participate in any speculation." The chancellor seemed to have tak...
Property prices on The Peak, most expensive residential area on the Hong Kong Island, experienced the biggest drop since the Asian financial crisis ten years ago, according to local media on Wednesday. The prices slumped 41.4 percent in the final three months of last year compared with the previous quarter. The fall was the biggest on record in Hong Ko...
China Customs statistics show that in 2008 China and Saudi Arabia's bilateral trade reached 41.8 billion USD. That means the two countries realized the trade goal two years ahead of schedule. During President Hu Jintao's visit to Saudi Arabia in 2006 China and Saudi Arabia, China's biggest trading partner in western Asia and Africa, decided to increase th...
The government will use its abundant foreign exchange reserves to boost imports and domestic demand as part of its efforts to check the economic slowdown caused by the global financial crisis. Addressing a press conference yesterday, Fang Shangpu, deputy director of the State Administration of Foreign Exchange (SAFE), said the administration would intr...
On February 5, 2009, the United States International Trade Commission made final ruling that imports of small diameter graphite electrodes from China caused substantial damage to the industry within the United States, according to the Bureau of Fair Trade for Imports and Exports of China's Ministry of Commerce. The US Department of Commerce laun...
Hong Kong Post and the post authority of the Republic of Korea (ROK) signed an understanding memorandum here Wednesday, setting up a new e-commerce collaboration to offer customers a wide selection of popular products and e-merchants. Speaking at the memorandum of understanding signing ceremony, Acting Postmaster General YF Chan said Hong Kong has seen...
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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