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May 03, 2015
China overtakes US as Australia's largest foreign investor
Sydney (AFP) May 1, 2015
China has for the first time overtaken the United States as Australia's largest source of foreign investment, according to official data, laying out Aus$27.7 billion (US$21.8 billion) in 2013-14 as real estate purchases more than doubled. The Asian economic giant's spending in Australia for the year ending June 30, 2014 far outstripped the Aus$17.5 billion from the United States - which was the biggest investor for more than a decade - and Canada's Aus$15.4 billion, the Foreign Investment Review B ... read more

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Satellite Services supplies on-board sub-systems for smallsats and microsats.
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US keeps China, India on intellectual rights watch list
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Obama, Abe say not opposed to China infrastructure bank
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Iran seizes cargo ship in Strait of Hormuz
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China opens bank card clearing sector to foreign firms
China has announced plans that will allow giants such as Visa and MasterCard to set up credit card clearing services in the country, breaking the monopoly in a multi-trillion-dollar market foreign firms have been trying to tap for decades. ... more
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China to launch three new free-trade zones
China will launch three new free-trade zones on Tuesday, official media said Monday, building on a project that began in Shanghai to much fanfare but has so far undershot expectations. ... more
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Asian Infrastructure Investment Bank's popularity setback for US
Many Asians believe that the region's dramatic economic rise over the past several decades has not been reflected in global financial institutions. The international financial power centers are American and European, but that supremacy is about to be challenged by China's initiative in establishing the Asian Infrastructure Investment Bank (AIIB), which will be headquartered in Beijing. ... more
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Coca-Cola to buy Chinese protein drinks business
Coca-Cola has agreed to buy a Chinese plant-based drinks business, renewing its push into the China market after authorities in 2009 blocked its bid for a juice company. ... more
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Egypt joins China-based infrastructure bank, hopes for funds
Egypt has been approved as a founding member of the Beijing-backed Asian Infrastructure Investment Bank, opening the way for it to benefit from the bank's $50 billion in funds, the foreign ministry said Thursday. ... more
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Fast-track trade deal stirs U.S. pot
U.S. Secretary of State John Kerry lauded a congressional measure to open international trade doors, though opponents said the measure puts the climate at risk. ... more
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Thousands of Greek miners protest feared job losses
Around 4,000 miners demonstrated in Athens Thursday to protest job cuts they fear will result from the hard-left government's opposition to continued exploitation of their gold mine in northern Greece. ... more
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FDI into China accelerates in March: govt
Foreign direct investment into China picked up in March, official figures showed Thursday, though outbound investment from the world's second-largest economy slowed sharply. ... more
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China March exports dive as economy seen slowing further
China suffered an across-the-board decline in trade in March, the government said Monday, days ahead of GDP data expected to show another slowdown in the world's second-largest economy. ... more
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'Civil war' divides families in row over Greek goldmine
Scrawled on the walls of homes in the village of Megali Panagia in northern Greece are angry slogans that show how much this picturesque community has been torn apart by a controversial gold mining project. ... more
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Hong Kong defends US dollar peg as stocks surge
Hong Kong's de facto central bank intervened in forex markets for the first time in eight months to protect its currency's peg to the US dollar as a massive surge in the city's stock market drives up demand for the local unit. ... more
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World Bank welcomes China's new bank in poverty fight
China's new development bank can have an important role in fighting extreme poverty if it establishes high standards for its projects, World Bank President Jim Yong Kim said Tuesday. ... more
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Chinese tycoon Liu snaps up ancient vase for $15 million
Chinese tycoon Liu Yiqian splashed out nearly HK$114 million ($14.71 million) on an ancient vase at auction in Hong Kong Tuesday - his latest expensive purchase of a rare artefact originally from the mainland. ... more
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When will Kazakhstan finally be allowed into the WTO?
On January 1, the World Trade Organization, responsible for 97 percent of world trade, celebrated its 20th anniversary. On its website the WTO defines its role as "the only global international organization dealing with the rules of trade between nations." The WTO polices free trade agreements, settles trade disputes between governments and organizes trade negotiations and, most significantly, WTO decisions are absolute and every member must abide by its rulings. ... more
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Hard money, soft standards? Tough questions for China's new bank
China scored a diplomatic coup by enticing almost 50 countries including key US allies to join its new development bank. ... more
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US ready to accept China-led infrastructure bank: Lew
US Treasury Secretary Jacob Lew said Tuesday that Washington was "ready to welcome" the China-led Asian Infrastructure Investment Bank, backing off from tougher early resistance to the new development institution. ... more
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Taiwan to apply to join China-led infrastructure bank
Taiwan said Monday it would make a formal application to join the Asian Infrastructure Investment Bank, becoming the latest economy to express interest in the Beijing-backed institution. ... more
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Australia moves towards joining China-led bank: government
Australia said Sunday it will sign an agreement to become a prospective founding member of a China-backed infrastructure bank, but stressed that no one nation should control the institution. ... more
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Indonesia's Widodo supports China-led investment bank
Indonesian President Joko Widodo said on Thursday that his country is firmly behind a new China-backed regional investment bank and sees it playing a stabilising role. ... more
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EU slaps anti-dumping duties on China, Taiwan steel
The EU announced Wednesday it will impose anti-dumping duties for six months on some steel imports from China and Taiwan as a new trade row erupted between Brussels and Beijing. ... more
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China denies seeking veto power in new bank
China has not sought veto power over a new multilateral bank, a top finance ministry official said Wednesday, after a report Beijing enticed major European countries to join by offering to give up control over decisions. ... more
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China approves three more free-trade zones
China has given the go-ahead for three more free-trade zones, state media reported, despite the country's first project in Shanghai proving disappointing 18 months after its establishment. ... more
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Cheap eurozone takeaway fuels Chinese appetites
The inexorable decline of the single currency offers ambitious Chinese firms a bargain buffet of eurozone business, analysts say, with this weekend's multibillion deal for Italian tyremaker Pirelli only the latest course in an acquisition binge. ... more
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'Made in China' tops EU list of unsafe products
From toy-shaped cigarette lighters to a short-circuting plush rabbit that catches fire, a European safety watchdog warned Monday of a growing number of dangerous products for sale, with most coming from China. ... more
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