Thanks to a massive and sustained policy response, the U.S. economy has continued to recover from the worst recession since the Great Depression, but the recovery remains policy driven so far, said an International Monetary Fund (IMF) report released on Tuesday. In the report, titled Regional Economic Outlook -- Western Hemisphere, the IMF said that the...
More than 2,000 enterprises from home and abroad are taking part in the 7th China-ASEAN Expo (CAEXPO), which opened here Tuesday in Nanning, capital of south China's Guangxi Zhuang Autonomous Region. The event has a total of 4,600 exhibition booths, all for exhibitors from China and the ten nations of the Association of Southeast Asian Nations (ASEAN),...
Beijing - China will further reduce quotas for rare earth exports by 30 percent at most next year to protect the precious metals from over-exploitation, said an official from the Ministry of Commerce. He added that the country is now facing the possibility that reserves of medium and heavy rare earths might run dry within 15 to 20 years if the current r...
BEIJING - China announced plans Monday to develop new strategic industries, the value-added output of which is expected to account for 8 percent of the country's GDP by 2015. The industries include alternative energy, biotechnology, new-generation information technology, high-end equipment manufacturing, advanced materials, alternative-fuel cars and en...
Excessive volatility in the exchange rates could harm global economy, the Eurogroup chief said on Monday as the euro touched a nearly nine-month high against the U.S. dollar recently. "We did talk about exchange rate situation," Luxembourg Prime Minister Jean-Claude Juncker said after chairing a monthly meeting of eurozone finance ministers. "It is impo...
The weekly average price of the Organization of Petroleum Exporting Countries (OPEC) declined to 80.36 U.S. dollars per barrel last week after a two-week recovery, the cartel said Monday. The price was only 0.16 dollars lower than that of the previous week. During last week's five trading days, OPEC oil price fluctuated within a narrow range betwee...
Brazilian President Luiz Inacio Lula da Silva said Monday state-controlled oil and gas giant Petrobras will export oil byproducts besides crude oil. Speaking at the inauguration ceremony of a Petrobras facility in Sao Jose dos Campos, Sao Paulo state, Lula hoped exporting oil byproducts will generate more revenue for the country. "We want to export ...
Singapore's non-oil domestic exports (NODX) grew at a slower 23 percent in September over the same period last year, after the 31 percent growth in the previous month, official data showed on Monday. According to latest statistics released by pro-enterprise International Enterprise (IE) Singapore, this is due to both electronic and non-electronic domes...
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