Editor's Picks

BOJ keeps monetary policy steady 

Business | Economy
2012-5-24

THE Bank of Japan kept monetary policy steady yesterday but warned of lingering risks to the country's recovery prospects, a sign it was saving ammuni...

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Shanghai index sinks over weak economic data 

Business | Securities
2012-5-24

SHANGHAI stocks retreated today as weak economic data overshadowed the government's pledge to focus on economic growth. The benchmark Shanghai Composite Index shed 0.53 percent, or 12.46 points, to close at 2,350.97....

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Blue paper forecasts Chinese housing market to ease slightly 

Business
2012-5-24

HOME prices in China will likely see slight decreases rather than notable drops this year amid contracted sales as the domestic housing market continues to correct, according to a real estate blue paper released today...

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EU may hit deal with China on carbon issue 

Business | Aviation
2012-5-24

A European envoy held out a possible compromise in a fight with China over carbon emissions charges on airlines, saying yesterday that Europe might alter its system if China helps negotiate global regulations. China,...

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Eurozone prepares plans on 'Grexit' 

Business | Economy
2012-5-24

EUROZONE officials have told members of the currency area to prepare contingency plans in case Greece decides to quit the bloc, an eventuality which Germany's central bank said would be "manageable". Three officials...

Youngman quits talks to acquire Saab 

Business | Automobile
2012-5-24

CHINESE auto company Youngman has quit the negotiations on purchasing Swedish car maker Saab with its bankruptcy administrators, Swedish newspaper Daily Industry reported yesterday. According to a source, Saab's...

Shanghai drug maker denies notice of probe 

Business | Pharmaceuticals
2012-5-24

SHANGHAI Pharmaceuticals Holding Co hasn't received any notice of a probe by regulators in China's mainland or Hong Kong, the company said yesterday in a response to a newspaper report that had caused its shares...

Staff may quit if firms refuse high salary hike 

Business | Jobs/human resources
2012-5-24

CHINESE employers are under greater pressure this year to retain high-caliber professionals who are asking for a high pay raise, according to a human resources survey released yesterday. Up to 80 percent of company...

Lenovo's profit up 60% in Q1 

Business | IT
2012-5-24

LENOVO Group Ltd's net profit surged nearly 60 percent in the first quarter as it tapped the robust Chinese market and lifted its market share through acquisitions overseas. Lenovo, the world's No. 2 personal...

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HSBC predicts China PMI to drop again in May 

Business | Economy
2012-5-24

CHINA'S manufacturing activities in the private sector are likely to slow further in May, reaching a two-month low, according to a preliminary reading for the HSBC Purchasing Managers' Index. May's HSBC Flash PMI,...

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HSBC flash PMI in May falls to 48.7 

Business | Economy
2012-5-24

HSBC'S Flash China Purchasing Managers' Index, a gauge of manufacturing activity slanted more towards private and export-oriented firms, fell in May to 48.7, compared with 49.3 in April, HSBC Holdings PLC announced...

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Stocks slide as jittery investors fear slowdown 

Business | Securities
2012-5-24

SHANGHAI stocks dropped this morning as downside risks to the economy have increased despite government pledges to give priority to stimulating growth. The benchmark Shanghai Composite Index lost 0.31 percent,...

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Oil drops below US$90 for 1st time since October 

Business | Energy
2012-5-24

THE price of oil dropped below US$90 per barrel in US trading yesterday, the latest milestone in a weekslong decline brought on by uncertainty surrounding economies from Europe to China. Benchmark US crude fell...

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Late rally erases steep losses on Wall Street 

Business | Securities
2012-5-24

A big final-hour comeback pulled the Dow Jones industrial average nearly back to where it started yesterday. The Dow was down as much as 191 points earlier as the threat of a financial crisis spreading from Europe...

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Civil aviation to get over US$237b boost 

Business | Aviation
2012-5-24

CHINA will invest more than 1.5 trillion yuan (US$237 billion) in the civil aviation sector in the next five years and buy more than 2,500 aircraft during the period, the head of the country's civil aviation industry...

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4 Greek banks to get US$23b capital injection 

Business | Banking
2012-5-24

FOUR of Greece's leading banks are to get a 18-billion-euro (US$23 billion) capital injection to replenish reserves which were hit by the country's massive debt restructuring deal. The country's Financial Stability...

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Premiums set to slow down 

Business | Insurance
2012-5-24

THE growth in property and casualty insurance premiums may slow down in China in 2012 in tandem with the country's cooling economic growth and deregulation in the motor insurance sector, according to a Moody's report...

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Weak sentiment pulls index down 

Business | Securities
2012-5-24

SHANGHAI stocks fell yesterday on worries China's slowing economy is worsening as credit demand weakened again in May, while the World Bank cautioned the country's slowdown is hurting expansion in East Asia. The...

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Burberry soars 

Business | Luxury goods
2012-5-24

BRITISH luxury brand Burberry said profit soared 26 percent to 376 million pounds (US$590 million) last fiscal year, as it announced a move to open larger stores under a 200 million pound investment program. Sales...

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China sales grow 

Business | IT
2012-5-24

DELL Inc's revenue in China gained annually in the first quarter of this year, despite a fall in its global revenue and net profit in the period, the world's No. 3 personal computer maker said yesterday. Its...

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Rubber plant 

Business | Chemical industry
2012-5-24

GERMAN specialty chemicals maker Lanxess started a rubber plant yesterday in Nantong, Jiangsu Province, as part of its 50-50 joint venture with Taiwan-based TSRC Corp. The two firms have jointly invested US$50...

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US$105b support 

Business | Economy
2012-5-24

SHANGHAI has secured 660 billion yuan (US$105 billion) of financing support over the next three years from 12 banks. The funds will go to strategic industries such as high-end equipment manufacturing, bio-pharmaceutical,...

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Growth in East Asia set to slow 

Business | Economy
2012-5-24

GROWTH in developing East Asia will moderate to 7.6 percent this year, mainly due to slower expansion in China, the World Bank forecast yesterday. With the global economic turmoil expected to continue, the region...

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Euro falls to 10-year low against yuan 

Business | Economy
2012-5-24

THE euro reached its lowest level against the yuan in a decade yesterday as concern grew that Greece could leave the eurozone. The People's Bank of China set the central parity rate at 7.998 yuan, the first dip...