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News About The Global Economy
May 17, 2016
Chinese pouring billions into US real estate: study
Washington (AFP) May 16, 2016
Chinese nationals became the largest foreign buyers of US homes last year as they pour billions into American real estate, seeking safe offshore assets, according to a new study Sunday. A huge surge in Chinese buying of both residential and commercial real estate last year took their five-year investment total to more than $110 billion, according to the study from the Asia Society and Rosen Consulting Group. The sheer size of that total has helped the real estate market recover from the crash th ... read more

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Satellite Services supplies on-board sub-systems for smallsats and microsats.
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China economy eases in April, sparking worries on rebound
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China producer price falls slow in April: govt
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Top China paper warns of crisis risk over debt
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China national rail company owes more than Greece: report
China's state-owned rail corporation is more than $600 billion in debt, reports said, almost twice the size of Greece's obligations. ... more
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China, Japan growth to slow sharply in 2016, IMF warns
China and Japan's economies are expected to slow sharply over the next two years but Asian growth will remain strong as domestic demand takes up the slack from weak global trade, the IMF said Tuesday. ... more
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Multinationals book more income in Bermuda than China: UN
Foreign multinationals in 2014 booked more profits in tiny Bermuda than in China, the UN revealed in a report Tuesday likely to bolster growing international outrage over the lack of financial transparency. ... more
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China manufacturing weakens in April, private survey shows
Chinese factory activity weakened further in April, a private survey indicated Tuesday, as muted demand and market weakness hit the struggling export-oriented sector. ... more
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HSBC profit drops on market volatility
HSBC on Tuesday said its net profit fell almost a fifth in the first quarter, with Europe's biggest bank hit by "extreme levels" of markets volatility, while bad loans doubled. ... more
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China manufacturing index expands at slower pace
China's economic recovery stabilised in April, an official factory activity gauge showed Sunday, as the property market recovered and credit grew. ... more
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China's biggest bank ICBC reports rise in bad loans
China's biggest bank ICBC on Thursday announced mounting problem loans, after International Monetary Fund staff argued that the world's second-biggest economy needs a more "comprehensive" plan to tackle bad debts. ... more
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Hong Kong leader warns independence calls threaten economy
Hong Kong's Beijing-friendly leader warned Tuesday the city will lose investment and job opportunities if residents continue to seek independence, painting a bleak economic picture of the former British colony without Chinese support. ... more
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China posts slowest quarterly growth on record: govt
China's economy grew in the first three months of 2016 at its slowest quarter-on-quarter rate since it began releasing the data, the government said, while the real-estate sector rebounded thanks to aggressive stimulus. ... more
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Alibaba financial affiliate valued at $60 bn
China's top internet finance company, e-commerce giant Alibaba's affiliate Ant Financial, could start the process of going public this year, reports said Monday, with the firm's latest fundraising valuing it at $60 billion. ... more
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Panama Papers reveal Hong Kong's murky financial underbelly
Jasmine Li was still a student when she opened her first offshore bank account through Mossack Fonseca Hong Kong, but the shady world she entered that day had been part of the city's underbelly for decades. ... more
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Dark economic cloud over IMF-World Bank meeting
Worries that the global economy is nearing a stall made worse by the specter of '"Brexit" cloud the air as the world's finance chiefs gather in Washington beginning Thursday for the IMF-World Bank Spring meetings. ... more
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China GDP growth slows to 6.7% in first quarter: govt
China's economy grew 6.7 percent in the three months of 2016, its slowest quarterly expansion in seven years, the government said Friday, but indicators for March improved. ... more
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China Q1 growth slows but green shoots appearing
China's economy expanded at its slowest rate in seven years during the first quarter, the government said Friday, but forecast-beating readings for March raised hopes a growth slowdown in the Asian giant may be bottoming out. ... more
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Emerging markets show 'signs of distress': IMF
Emerging market economies, once the stars of world growth, now show "signs of distress" due to a darkening global outlook and tumbling commodity prices, the International Monetary Fund said Tuesday. ... more
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World Bank and China-backed infrastructure bank join hands
The World Bank and the new China-backed Asian Infrastructure Investment Bank, originally seen as possible rivals, joined hands Wednesday with an agreement to co-finance projects. ... more
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IMF sees $1.3 trillion in 'at-risk' Chinese company debt
The International Monetary Fund said Wednesday that corporate China's balance sheets have deteriorated to the point that some $1.3 trillion in borrowings is at risk of default. ... more
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Worried IMF cuts world growth forecast, warns over Brexit
The International Monetary Fund said Tuesday that the global economy faces wide-ranging threats from weak growth and rising protectionism, warning of possible "severe" damage should Britain quit the European Union. ... more
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Money and power: China government's link to Panama Papers firm
Long before the Panama Papers leaks put law firm Mossack Fonseca on front pages around the world, the company was already well known among a certain class of Chinese investor - and to the government. ... more
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China to drag down growth in developing Asia: World Bank
China's economic slowdown will hit growth in developing East Asia and the Pacific from this year until at least 2018, the World Bank said Monday, warning of volatile global markets and urging caution. ... more
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China largest market for Panama Papers law firm: ICIJ
Nearly a third of the business of the law firm at the centre of the Panama Papers scandal came from its offices in Hong Kong and China, reports said Thursday, with the Asian giant assailed by corruption and capital flight. ... more
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Steeling for a struggle: China workers face turmoil
Hundreds of laid-off steelworkers gathered outside their former employer's office this week to protest at losing their jobs, victims of a global glut. ... more
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Follow the money: how Hong Kong helps outflow of Chinese cash
The Panama Papers leak has put the spotlight on Hong Kong as a hub for setting up offshore firms, with much of the money flowing through the city coming from mainland China. ... more
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China considers debt-equity-swaps for banks: reports
China is considering a plan that would allow banks to swap bad debts for equity in the borrowing firm, according to reports, as the banking sector faces mounting bad loans and slowing growth in the world's second-largest economy. ... more
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