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Shanghai steel futures rose to a record for a fifth day in a row on Friday as index-based spot iron ore prices bolted to all-time highs on tight supplies and strong demand from top buyer China. Chinese steelmakers are boosting production in anticipation of a pickup in demand when construction activities restart in spring after halting in winter. ...
BEIJING - China Unionpay Co, the world's largest credit card company in terms of number of cards issued, said Thursday its overseas transactions grew robustly during this year's Spring Festival holiday, which lasted from February 2 to 8. The value of overseas transactions using the China Unionpay cards jumped 44 percent year-on-year to 6.37 billion yuan...
Egyptian President Hosni Mubarak said in a televised speech on Thursday night that he will hand over power to Vice President Omar Suleiman, but will not resign, in response to more than two weeks of mass protests against his 30-year rule. "According to the constitution, I will shoulder my responsibilities until the country witnesses the stable and peacefu...
Although the U.S. economy has struggled to recover from the recent recession, the nation still faces daunting economic and budgetary challenges, Douglas Elmendorf, director of the Congressional Budget Office (CBO), said here on Thursday. During this round of recovery, the pace of growth in the nation 's output has been "anemic compared with that during m...
The French automaker Renault, eager to improve its profitability, announced on Thursday it has set a target of selling 3 million cars by 2013. Presenting its new five-year strategy, the second largest automaker in France planned to debut 48 models in late 2016 for all its brands, including Renault, Dacia and Renault-Samsung, eight more than in 2010. Fou...
South Korea's central bank said Friday it left the benchmark interest rate unchanged at 2.75 percent. The Bank of Korea (BOK) raised its seven-day repurchase rate by a quarter percentage point last month to 2.75 percent after lifting the rate by 25 basis points in July and November last year each from a record-low 2.00 percent. The BOK's rate decision...
The U.S. stocks on Thursday pared earlier losses caused by disappointing earnings in the last trading minutes to close basically flat, with the Dow ending its 8 straight gains. The Dow Jones industrial average dropped 10.60 points, or 0.09 percent, to 12,229.29, after refreshing the record of longest consecutive gains with a 8th straight rise on the previ...
The U.S. 30-year fixed-rate mortgage (FRM) this week rose to the highest point since April 2010, showed the Primary Mortgage Market Survey released Thursday by Freddie Mac. Freddie Mac said that the 30-year FRM averaged 5.05 percent for the week ending Feb. 10, 2011, up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM ...
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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