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China's software sector is booming as it taps global firms looking to cut costs, but its small size and lack of experience mean it will be years before it threatens Indian rivals, such as Infosys. For now, Chinese firms are attracting venture funding and expanding staff in an industry viewed as strategic for the country's future growth. Analysts are...
The Asian Development Bank (ADB) said on Wednesday that poor countries can also provide basic social protection like financing health care, cash transfers to the poor, the elderly and child protection. The ADB said in a news release that results of its newly developed Social Protection Index (SPI) shows that the ability to provide appropriate social p...
Hong Kong's Exchange Fund foreign assets rose 22.7 billion HK dollars (2.91 billion U.S. dollars) in April to 1.21 trillion HK dollars (155.13 billion U.S. dollars), revealed the Monetary Authority Wednesday. The Monetary Base, comprising Certificates of Indebtedness, government issued currency notes and coins in circulation, the Aggregate Balance of ...
The Beibu Bay economic zone, in the southern Guangxi Zhuang Autonomous Region, has greatly boosted the region's exports and imports, said a government official. In the first four months this year, the volume of exports and imports at Guangxi's ports hit 5.51 billion U.S. dollars, an increase of 77.8 percent over the same period last year, according to...
Chinese shares gained 2.73 percent on Wednesday, the second trading day after the earthquake that hit southwestern Sichuan Province on Monday afternoon and resulted in 66 listing companies stop trading on Tuesday. The benchmark Shanghai Composite Index concluded the daily trading at 3,657.43 points on Wednesday, up 97.19 points, or 2.73 percent, from ...
China's trade surplus decreased slightly last month from a year ago amid declines in international trade growth triggered by the global economic slowdown. Monthly surplus reached 16.68 billion last month, down 1.14 percent year-on-year but up 24.5 percent from 13.4 billion U.S. dollars in March, the General Administration of Customs said yesterday. ...
Africa offers great potential for Information and Communication Technologies (ICT) industry with a rapid and dynamic growth throughout the continent over the past four years, a senior official of International Telecommunications Union (ITU) said on Tuesday. In my opinion, after the Chinese market, Indian market, the African market will soon be a focus...
China's broad measure of money supply, M2, which covers cash in circulation plus all deposits, reached 42.92 trillion yuan (6.13 trillion U.S. dollars) in April, up 16.94 percent from a year earlier, the People's Bank of China said on Tuesday. The increase was 0.65 percentage points higher than the figure in March, the central bank said in a statement...
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