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World Bank boosts China 2009 growth forecast to 8.4 pct Beijing (AFP) Nov 4, 2009 
The World Bank Wednesday upgraded its 2009 growth forecast for China to 8.4 percent on the back of huge public spending but said stronger domestic demand was needed to ensure a sustainable recovery. The new prediction by the Washington-based lender in its quarterly update marked a sharp jump from its June forecast for 7.2 percent growth. Economic growth in the Asian giant could hit 8.7 ... read moreIMF warns over surge in Hong Kong property prices 
Hong Kong (AFP) Nov 3, 2009The International Monetary Fund said Tuesday that Hong Kong faced a potential surge in property prices and endorsed a government plan to cool any overheating in the market. The Washington-based organisation's warning came as prices in the southern Chinese city soared with luxury developments up more than 40 percent since January this year. Concerns about the price spike -- largely driven ... more
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China manufacturing activity expands in October: survey
Beijing (AFP) Nov 2, 2009China's manufacturing activity continued to expand in October, as domestic and overseas demand strengthened and employment picked up, an independent survey published Monday showed. The HSBC China Manufacturing PMI, or purchasing managers index, rose to an 18-month high of 55.4 in October from 55.0 in September. A reading above 50 means the sector is expanding, while a reading below 50 in ... more What crisis? China's billionaires live it up 
Beijing (AFP) Oct 28, 2009While the rest of the world struggles to bounce back from the global financial crisis, China's billionaires are living large, snapping up luxury products at a breathtaking pace. Beijing's Jinbao Street is the must-visit address for billionaires with yuan to burn. Once a maze of alleys, the 800-metre (yard) stretch of road is now home to Rolls-Royce, Bugatti, Lamborghini, Gucci, Cartier, the ... more China's Jan-Sep energy output up 9 pct: state media 
Beijing (AFP) Oct 27, 2009China's overall energy output rose nine percent on-year in the first nine months of 2009, state media reported Tuesday, in another sign its emergence from the global slump is picking up steam. Energy output from January to September totalled 2.01 billion tonnes of standard coal equivalent, as production ramped up along with the recovering economy, the People's Daily said, citing the National ... more Hong Kong exports down 8.6 percent in September
Hong Kong (AFP) Oct 27, 2009Hong Kong exports fell 8.6 percent year-on-year in September, the government said Tuesday, a smaller decline than previous months as regional trading activity rebounded. The total value of shipments dropped to 225.9 billion Hong Kong dollars (29 billion US), the Census and Statistics Department said in a statement. The year-on-year decline in exports for September narrowed markedly from ... more |
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British PM to warn world economies of climate catastrophe
London (AFP) Oct 19, 2009British Prime Minister Gordon Brown was to warn representatives of the world's biggest carbon polluters Monday of a climate catastrophe if they do not strike a deal at the Copenhagen summit. Brown was due to address the Major Economies Forum meeting in London with a message that they must find a way to "break the impasse" on getting a far-reaching agreement at the United Nations climate conf ... more Central Asia united on economic crisis response
Beijing (AFP) Oct 14, 2009Leaders from Russia, China and four Central Asian nations on Wednesday pledged to work together to coordinate their responses to the global economic crisis. Russian Prime Minister Vladimir Putin, host Chinese Premier Wen Jiabao, and leaders from four ex-Soviet countries - Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan - also agreed their top finance officials would meet by year's end. ... more Entrepreneurs face venture capital funding drought 
San Francisco (AFP) Oct 12, 2009The number of US venture capital firms that raised new investment money sank to a 15-year low in the last fiscal quarter as a drought of funding threatened innovation around the world. Approximately 1.56 billion dollars (US) was raised by a total of 17 venture capital firms in the third quarter of 2009, the smallest such showing since 1994, according to figures released Monday by Thomson ... more China's billionaires rise to 130 despite global crisis 
Beijing (AFP) Oct 13, 2009Car battery tycoon Wang Chuanfu topped a new list of China's 1,000 richest people released Tuesday, which has 130 dollar billionaires in an emphatic declaration of the Asian giant's economic arrival. Most of the super-wealthy on the Hurun Rich List, unlike Wang, made their fortunes in the property and stock markets -- the focus of Beijing's massive government stimulus efforts over the past ... more |
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