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South Korea's foreign exchange reserves by the end of July dropped by 10.58 billion U.S. dollars from a month earlier, standing at 247.5 billion U.S. dollars, the country' s central bank said Monday. According to the Bank of Korea (BOK), foreign reserves fell in July mainly because the government and the central bank pledged on July 7 to work together...
The Export-Import Bank of China said on Monday its non-performing loan (NPL) ratio dropped in the first half, amid efforts to improve its business structure. The NPL ratio fell to 1.8 percent as of June, compared with 2.45 percent a year earlier. Outstanding loans totaled 412.3 billion yuan (58.9 billion U.S. dollars), up 91.3 billion yuan from last y...
Jiangsu Rongsheng Heavy Industries has won contracts to build 12 iron ore ships for Brazil-based Vale in the world's largest single shipbuilding order, and plans a US$2 billion stock market listing as early as the end of this year. Vale, the world's top iron ore producer, will pay US$1.6 billion for the 12 vessels (VLOC), each with a capacity of 400,00...
Some of China's paper makers plan to raise prices of newsprint, driven by rising production costs and booming demand. Zhao Wei, general secretary of the China Paper Association, confirmed market talk to this effect to Xinhua on Monday, saying the industry would probably soon raise newsprint prices by somewhere between 300 yuan (43 U.S.dollars) and 500...
A credit structure adjustment will help Chinese small- and medium-size enterprises survive financing difficulty, according to Liu He, the Office for the Central Leading Group on Economic and Financial Affairs vice director. In a story in Monday's People's Daily, the official newspaper of the Communist Party of China, he said the current credit crunch ...
Bilateral and multi-lateral trade agreements can be a solution to maximizing trade benefits without compromising market competition in home markets of countries involved. For China, that prospect can be built on its Anti-Monopoly Law, effective August 1. Prof. Huang Yong from Beijing-based University of International Business and Economics gave those ...
Hong Kong’s two electricity suppliers will cut their emissions of air pollutants by increasing the use of natural gas during the Olympic equestrian events, a government spokesman said Saturday. The companies, Hong Kong Electric and CLP Power, will reduce the burning of coal, a major source of air pollution in the southern Chinese city, at their plants,...
Abu Dhabi National Energy Co, the state-controlled energy company in the United Arab Emirates that bought North Sea oil assets from Royal Dutch Shell Plc and Exxon Mobil Corp in July, is expected to report this week that quarterly profit rose as oil prices reached a record and demand for power and water increased. Abu Dhabi National, also known as Taqa...
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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