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The fluctuation of crude oil prices is closely related to the global financial market and the surge of oil prices should not only be ascribed to rising energy demands of fast developing countries, a Chinese energy official said Saturday. Oil has become a commodity of the largest trade volume in the world. A huge amount of oil trade is conducted in the...
Australia's housing market witnessed its biggest quarterly dive in five years in the first three months of this year, according to the latest survey figures on Saturday. The average median house price dipped 2.7 percent, slipping from 471,300 dollars (452,400 U.S. dollars) in the last quarter of2007 to 458,488 dollars (440,100 U.S. dollars) in the fir...
Australian Assistant Treasurer Chris Bowen said on Saturday the slowing U.S. economy will have an impact on the Australian economy. Figures released overnight reveal that U.S. unemployment has unexpectedly surged by the strongest rate in two decades, raising warning flags that the economy is headed in the wrong direction. When the United States is...
Energy ministers from Japan, the United States, China, India and South Korea agreed Saturday to adopt comprehensive measures to deal with the current rocketing crude oil prices. The measures include improving investment environment, strengthening energy saving efforts, expanding oil stockpile for emergency use and developing alternative energy forms, ...
China saw its export and import volume in service trade (excluding government service) stood at 250.91 billion U.S. dollars in 2007, said the Ministry of Commerce (MOC) on Friday. The figure increased 30.9 percent over the previous year, the MOC said on its Website. Export volume of service trade in 2007 hit 121.65 billion U.S. dollars, up 33.1 pe...
China is set to scrap the tax rebates on exports of vegetable oils from next Friday, which analysts said would help drive down domestic prices, although the effect would not be very big. The move applies to 36 varieties of vegetable oil products, including soy, peanut and sunflower oil, according to a Ministry of Finance statement on its website. It is...
Malaysia predicted that its inflation would climb up to 4.2 percent this year as a results of fuel prices hike it announced on Wednesday. Malaysia's central banker governor Zeti Akhtar told reporters at the 12th Malaysian Banking Summit here Thursday that the inflation for this month was expected to exceed 5.0 percent. Earlier this year, the bank ...
Indian Prime Minister Manmohan Singh on Thursday called for the government officials to take measures cutting all the wasteful expenses, especially on foreign travel because of the rising oil price. The prime Minister said that currently a huge burden imposed on India's financial resources due to the continuous rising trend in global oil prices. I...
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