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Slower drop in profit at SOEs

Business | Macro-economy and policy
2009-11-20

NET profit at China's state-owned enterprises declined at a slower annual pace in the first 10 months of this year, while their revenue reversed a drop and edged up for the first time this year. Net earnings fell...

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OECD doubles 2010 forecast

Business | Macro-economy and policy
2009-11-20

THE world's rich and developed economies will grow faster next year, but recovery will remain modest, with the United States and Japan outpacing Europe, a Paris-based watchdog said yesterday. The Organization...

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US sees faster rise in prices

Business | Macro-economy and policy
2009-11-19

CONSUMER prices in the United States edged up faster than expected last month, driven higher by another increase in energy prices and the biggest jump in new car prices in 28 years. Still, prices are lower than...

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Consumer spending helps boost city growth

Business | Macro-economy and policy
2009-11-17

SHANGHAI'S economy made further progress last month as a result of continued strong growth in local consumer spending and investment, while exports also improved to help strengthen a growing recovery. The city's...

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China to hold line on rate of yuan-US$

Business | Macro-economy and policy
2009-11-17

CHINA'S Ministry of Commerce yesterday rebuffed calls to allow the national currency to appreciate and said it's unfair to blame the yuan for global trade imbalances. "It is not conductive to the global economic...

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US firms slow stock reductions

Business | Macro-economy and policy
2009-11-17

UNITED States businesses slashed inventories for a 13th consecutive month in September although the pace of reductions slowed from the previous month. The economic rebound is expected to remain tentative until businesses...

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UK plans law for joint suit on claims

Business | Macro-economy and policy
2009-11-17

THE British government will this week outline legislation allowing consumers to group together to claim damages from financial institutions that mislead customers over financial products, a government source said yesterday. ...

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Taiwan inks financial MOU with mainland

Business | Macro-economy and policy
2009-11-17

TAIWAN said it signed a long-anticipated memorandum of understanding with China's mainland yesterday allowing banks, securities and insurance firms to conduct business in each other's market for the first time. ...

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Britain urged to veto EU plans

Business | Macro-economy and policy
2009-11-17

THE British government has been urged to veto the European Union's proposals to reform financial regulation. The House of Commons Treasury Committee said it was concerned about some of the details of the proposed...

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Eurozone consumer prices fall by 0.1%

Business | Macro-economy and policy
2009-11-17

CONSUMER prices in the 16 countries that use the euro fell by 0.1 percent in the year to October, official figures confirmed yesterday. Eurostat, the Europe Union's statistics office, kept the rate unchanged from...

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Japan's growth surprise in Q3

Business | Macro-economy and policy
2009-11-17

JAPAN'S economy flexed more muscle than expected in the third quarter, as rekindled demand at home and abroad fueled its largest expansion in more than two years. Real gross domestic product grew at an annual...

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Fed's Hoenig says significant weakness in US economy

Business | Macro-economy and policy
2009-11-16

A FEDERAL Reserve official said today that the US economy still faced "significant weaknesses" and urged policymakers to allow large financial institutions to fail if needed. "We still have significant weaknesses...

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APEC promotes free trade as savior

Business | Macro-economy and policy
2009-11-16

STIMULUS spending and other emergency measures had set the stage for global economic recovery, but nations must push ahead with free trade and investment to ensure growth, Asia-Pacific leaders said yesterday. The...

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Industrial output to reach 10.5% for full year

Business | Macro-economy and policy
2009-11-16

CHINA'S industrial output is expected to grow by about 16 percent year on year this month and in December and the full-year growth could reach around 10.5 percent, according to Minister of Industry and Information...

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Close range versus dollar set to remain

Business | Macro-economy and policy
2009-11-16

THE yuan is likely to remain in a close range against the United States dollar in the near future as the Chinese government continues its efforts to ensure exports stay healthy and stable. The Chinese currency...