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March 27, 2015
Bank of China net profit up 8% in 2014
Hong Kong (AFP) March 25, 2015
Bank of China said Wednesday it saw a year-on-year net profit gain of eight percent in 2014 helped by stable growth in the Chinese economy, despite a slow recovery in global markets. But the bank, which is the nation's third-largest lender by market value, also saw a doubling of losses on loans and advances. It recorded a net profit of 169.60 billion yuan ($27.29 billion) last year, up 8.08 percent from 156.91 billion yuan in 2013, it said in a filing to the Hong Kong stock exchange. "In 201 ... read more

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Satellite Services supplies on-board sub-systems for smallsats and microsats.
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IMF head welcomes China-backed bank on Beijing visit
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China investigates former free trade zone official
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China overseas investment jumps in February on Dutch deal: govt
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China has 'ample' room for stimulus: premier
The Chinese government has more weapons in its arsenal to boost its flagging economy, the world's second-largest, Premier Li Keqiang said Sunday at his once-a-year press conference. ... more
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Japan lower house passes record $793 bn budget
Japan's powerful lower house of parliament on Friday passed a record $793 billion budget, including fresh economy-boosting stimulus and more defence spending as Tokyo eyes an increasingly assertive China. ... more
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China has 'ample' room for stimulus: premier
The Chinese government has more weapons in its arsenal to boost the world's second-largest economy, Premier Li Keqiang said Sunday as he sought to ease concerns about flagging growth. ... more
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China seeking yuan role in IMF reserve currency
China is in talks with the International Monetary Fund for the Washington-based institution to add the yuan to its basket of reserve currencies, a top banking official said Thursday as Beijing seeks a greater global role for the unit. ... more
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EU, Germany raise 'Grexit' alarm over Greece bailout
EU Commission chief Jean-Claude Juncker has warned of an alarming lack of progress in talks on Greece's bailout, as Germany raised the spectre of a tumultuous Greek exit from the euro. ... more
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China data hits multi-year lows, boosting stimulus hopes
Chinese output, retail and investment growth have all fallen to multi-year lows, official data showed Wednesday, the latest anaemic indicators to raise expectations of more government support for the world's second-largest economy. ... more
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China inflation jumps but worries endure
China's consumer inflation rebounded in February from a more-than-five-year low, official data showed Tuesday, but a plunge in factory gate prices added to persistent concerns about deflation in the world's second-largest economy. ... more
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China's 2015 budget deficit rate higher than declared: minister
China's budget deficit this year will be higher than previously declared as the government boosts fiscal spending in a bid to bolster economic growth, the finance minister said Friday. ... more
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China lowers 2015 growth target to 'approximately 7%'
China lowered its 2015 economic growth target to "approximately seven percent" Thursday, scaling down expectations in the face of "formidable" difficulties for the world's second-largest economy after its decades-long boom. ... more
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China lowers 2015 growth target to 'approximately 7%'
China lowered its 2015 economic growth target to "approximately seven percent" Thursday, scaling down expectations in the face of "formidable" difficulties for the world's second-largest economy after its decades-long boom. ... more
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China rate cuts just the start as growth slows: analysts
Factory employment has been falling for more than a year in the workshop of the world as Chinese growth slows, and analysts expect more intervention by the central bank after its second interest rate cut in just three months. ... more
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China manufacturing shrinks again in February: govt
China's manufacturing activity contracted for the second straight month in February, the government said Sunday, a day after the central bank announced an interest rate cut to help stem a slump in the world's second-largest economy. ... more
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China manufacturing improves in February: HSBC
China's manufacturing activity in February improved more than initially thought, HSBC said Monday, but weakening foreign demand and declining prices signalled the world's second-largest economy still faces multiple woes. ... more
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Protests blamed as Hong Kong misses growth targets
Hong Kong's leadership Wednesday blamed months of pro-democracy protests as the economy fell well short of predicted growth in 2014, and said "prolonged political bickering" could do more damage to investor confidence. ... more
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Britain's Standard Chartered bank says CEO to depart
The chief executive of Asia-focused bank Standard Chartered will step down in June, the company said Thursday, following poor results, job cuts and fines for failing to detect possible money-laundering. ... more
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HSBC: China manufacturing expands in February
Chinese factory activity expanded in February, snapping two consecutive months of contraction, a closely watched private survey showed Wednesday in a bright spot amid a broad slowdown in the world's second-largest economy. ... more
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Japan household spending drops fastest in 8 years
Japanese household spending in 2014 declined at its fastest pace in eight years, official data showed Tuesday, underscoring the impact of the country's first sales tax hike in nearly two decades. ... more
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China bank loans surge in January: central bank
China's bank lending more than doubled to 1.47 trillion yuan ($235 billion) in January from December, the central bank said Friday, with analysts citing seasonal factors and monetary easing. ... more
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Alibaba staff denied traditional Chinese New Year gift by CEO
Internet tycoon Jack Ma has said his employees will not receive traditional Chinese New Year gifts because 2014 had not been "exceptional" for the company, despite its world-beating IPO listing on Wall Street. ... more
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Dutch SNS Reaal sells insurer to China's Anbang
Dutch bank SNS Reaal on Monday announced it was selling its insurance arm to Chinese insurer Anbang for 150 million euros, as it restructured after being nationalised two years ago. ... more
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China January FDI jumps 29.4%: govt
Foreign investment into China accelerated in January, government data showed Monday, with overseas firms pumping more cash into the country's services sector as the manufacturing industry slows. ... more
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China's Dagong cuts France's credit ratings
A Chinese rating agency said Monday it has downgraded France's sovereign credit ratings, citing concerns about the country's debt repayment. ... more
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China January inflation plunges to five-year-low 0.8%
China's inflation plunged to a more than five-year low of 0.8 percent in January, official data showed Tuesday, fuelling fears the world's second-largest economy is on the brink of a deflationary spiral. ... more
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Greece heads for bailout showdown with EU
Greece's new government headed for a showdown with sceptical European partners on Wednesday as it took its demands to renegotiate its huge bailout to crunch talks in Brussels. ... more
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