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China's latest monetary policy move, which includes a cut in key lending rates, signals the government's emphasis to place economic growth as its top priority and also its determination to assist smaller businesses to create stable employment, economists said. The collapse of Lehman Brothers has made the government realize the gravity of challenges tha...
Uruguayan President Tabare Vazquez said Tuesday that his country is strong enough to face the international financial crisis. At a press conference, Vazquez said his country is strong in the economic and financial fields and it does not have problems to face the future. The crisis in the U.S. and Europe without doubts will reach the region, but Ur...
German luxury car maker Porsche on Tuesday raised its stake in Volkswagen to more than 35 percent, a move that it gives de facto control over Europe's biggest automaker. Previously, Porsche held a stake of a little more than 30 percent and has said it plans to raise that to over 50 percent. On Tuesday, Porsche acquired an additional 14.4 ...
The New York branch of Industrial and Commercial Bank of China Ltd. (ICBC), the world's largest bank by market capitalization, was officially granted business license in New York Tuesday. It is an exciting moment for our bank, since it marks an important milestone for our international business development, said Wu Bin, chief representative of the ICB...
China and the United States on Tuesday reached a series of agreements at a meeting of the U.S.-China Joint Commission on Commerce and Trade, which started in Los Angeles earlier in the day. Source: CRIEnglish
A group of domestic soft drink makers will reportedly submit a proposal to the Ministry of Commerce in a bid to block the takeover of market leader Huiyuan Juice by Atlanta-based Coca-Cola. Opponents of the proposed transaction are worried that a Coca-Cola/Huiyuan combination could dominate the market and dictate prices. Coca-Cola has offered to acq...
Brazil's state-owned oil and gas giant Petrobras said Monday that it would contract to build 10 offshore oil production platforms in the coming eight years for a newly found pre-salt oil field. The 10 new units, to operate in ultra-deep waters, will tap the pre-salt oil reserves discovered recently off the country's southeastern coast. According t...
General Electric Co. will soon set up five new regional headquarters in China to further tap a huge market that boasts huge business potential. The U.S. giant now operates two regional headquarters in Shanghai and Beijing. The new locations will be in Shenyang, Wuhan, Chengdu, Xi'an and Guangzhou -- provincial capitals in the country's northeast, cent...
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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