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BEIJING - China's domestic wheat prices may extend gains as cold weather hinders harvesting of the grain in the world's biggest grower. About 3.5 million hectares of wheat growth is rated as third class or inferior due to the cold weather that has swept major wheat growing region in northern China this spring, the Ministry of Agriculture said in a state...
BEIJING - Export growth may slow in the second half of this year in China due to risks of a global double-dip recession and rising trade protectionism, the Ministry of Industry and Information Technology (MIIT) said on Thursday. The ministry also said an appreciating yuan would impact nearly 70 percent of the nation's industrial exports and over 70 milli...
China Coal Energy Co, a unit of the nation's second-biggest producer of the fuel, said 2009 profit rose 9.9 percent as expansion in the world's fastest-growing major economy buoyed demand. Net income increased to 7.83 billion yuan ($1.1 billion), or 0.59 yuan per share, from 7.13 billion yuan, or 0.54 yuan, a year earlier, the company said in a statemen...
BEIJING - Datong Coal Industry Co Ltd, one of China's leading coal producers, said Wednesday its 2009 net profit rose 2.55 percent on the back of rising coal output and strong sales. Net profits hit 1.49 billion yuan ($218.16 million) last year on revenue of 9.49 billion yuan, which was up 13.1 percent from 2008, said its annual report filed with the Sha...
DETROIT – General Motors Co has repaid the $8.1 billion in loans it got from the US and Canadian governments, a move its CEO says is a sign automaker is on the road to recovery. GM CEO Whitacre will formally announce the loan paybacks Wednesday at the company's Fairfax Assembly Plant in Kansas City, Kansas, where he will also announce that GM is in...
BEIJING - Jiangxi Copper Co Ltd, China's biggest copper producer, said its first quarter profit rose 360 percent to hit 697million yuan ($102 million) in a statement filed to the Shanghai Stock Exchange Thursday. The company attributed the increase to booming sales and higher prices for its major products. Business revenue in the first three mon...
BEIJING - China has decided to impose anti-dumping tariffs on Nylon 6, or polycaprolactam, imported from the United States, the European Union, Russia and the Taiwan region, the Ministry of Commerce (MOC) said Thursday. The five-year tariffs, ranging from 4 percent to 96.5 percent, will take effect Thursday, the MOC said in a statement on its website. T...
MUMBAI - India's central bank raised interest rates for the second time in a month and ordered lenders to set aside more cash as reserves, seeking to slow the fastest inflation among Group of 20 nations. The Reserve Bank of India boosted the three policy rates by a quarter point, it said in a statement in Mumbai. India's one-year interest-rate swap, a...
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