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The U.S. Consumer Price Index (CPI) advanced 1.1 percent in June, the biggest monthly rise since September 2005 in the aftermath of Hurricane Katrina, the U.S. Labor Department said Wednesday. The Labor Deparment attributed the CPI rise, high above the 0.7 percent increase expected by economists, mainly to the continued surge in gasoline prices. E...
China Construction Bank (CCB) announced on Wednesday it will bid for a share of the country's increasingly large and lucrative private banking service industry. The bank said it is scheduled to open highest-end banking services to people with liquid financial assets above 10 million yuan (1.47 million U.S. dollars) in the country's four most affluent ...
Airbus and Harbin Aircraft Industry Group Co (HAIG) will set up a joint venture early next year to produce aircraft composite material parts and components. The joint venture will be 80 percent controlled by HAIG, a company affiliated to China Aviation Industry Corp II (AVIC II), while Airbus will own the rest of the stakes. It will provide composite m...
Property price growth in China's major cities slowed down 1 percentage point in June from the previous month, the National Development and Reform Commission (NDRC) said yesterday. In a statement published on its website, the NDRC said property prices in China's 70 large and medium-sized cities rose 8.2 percent year-on-year in June, compared with 9.2 pe...
Investors from China's Hong Kong and Singapore are interested in buying shares of Indonesian largest steel producer of Krakatau Steel Inc., the company's Director Fazwar Bujang said Wednesday. Indonesian is to sale 35 percent of the company's shares at the second semester this year to get funds to finance technology to boost production capacity of the...
Trade and globalization have brought greater prosperity to hundreds of millions and greater stability among nations, according to a report published by the World Trade Organization (WTO) on Tuesday. Trade has allowed nations to benefit from specialization and economies of scale to produce more efficiently, said the WTO's annual World Trade Report, ent...
Brazilian commercial jet producer Embraer looked to a bigger share in China's regional aviation market with a new contract to sell five EMBRAER 190 jets to China's Kunpeng Airlines signed on Tuesday. The total list price of the contract came to 187.5 million U.S. dollars, and the first delivery is scheduled for 2008. We have always been confident ...
French Finance Minister Christine Lagarde said Tuesday that the euro was very high as the European single currency hit a new record against the U.S. dollar. The euro is very high. I am always worried, Lagarde told reporters when she addressed the European Parliament's economic committee here. The euro hit an all-time high of 1.6038 U.S. dollars in...
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