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  <title>Shanghai Daily: Business</title> 
  <link>
  	http://www.shanghaidaily.com/article/list.asp?id=8
  </link> 
  <description>Shanghai Daily Business</description> 
  <language>en</language> 


<item>
	<title>Oil jumps US$5 on growing US-Russia tensions</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371141
	</link>
	<pubDate>2008-8-22 8:30:08</pubDate> 
	<category>Energy</category> 
	<author></author>
	<description><![CDATA[
	OIL prices shot up more than US$5 a barrel yesterday, rising to the highest level in over two weeks as escalating tensions with Russia stoked fears of supply disruptions to the West. 
 
Crude's rally mimicked the...]]></description>
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<item>
	<title>US stocks end mixed on rising oil, financial worries</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371140
	</link>
	<pubDate>2008-8-22 8:01:03</pubDate> 
	<category>Securities</category> 
	<author></author>
	<description><![CDATA[
	
WALL Street closed mixed yesterday after investors largely shrugged off a jump in oil prices and focused instead on a bullish analyst call on Lehman Brothers Holdings Inc that eased worries about the financial sector....]]></description>
</item>

<item>
	<title>China may fine-tune moves but major stimulus unlikely</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371104
	</link>
	<pubDate>2008-8-22 1:00:43</pubDate> 
	<category>Macro-economy and policy</category> 
	<author>Wang Yanlin</author>
	<description><![CDATA[
	CHINA may fine-tune macroeconomic policies to bolster growth, but a major stimulus package does not look likely this year, analysts said.
 
"Although the headline inflation rate is on the decline, it remains well...]]></description>
</item>

<item>
	<title>Baoshan May Slash Steel Prices On Poor Demand</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371105
	</link>
	<pubDate>2008-8-22 0:59:59</pubDate> 
	<category>Metallurgical industry</category> 
	<author>Helen Yuan</author>
	<description><![CDATA[
	BAOSHAN Iron & Steel Co, China's biggest steel maker, may cut prices for the first time this year for the fourth quarter, following reductions by competitors, two analysts said yesterday.
 
The Shanghai-based producer...]]></description>
</item>

<item>
	<title>Individual forex assets set to rise with service</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371103
	</link>
	<pubDate>2008-8-22 0:59:18</pubDate> 
	<category>Asset management/M&amp;A</category> 
	<author>Zhang Fengming</author>
	<description><![CDATA[
	THE new individual foreign currency exchange service by non-financial players in Shanghai and Beijing will help people increase their forex assets and will also help trim China's mounting forex reserves, economists...]]></description>
</item>

<item>
	<title>Dull days for stainless steel giants</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371102
	</link>
	<pubDate>2008-8-22 0:58:26</pubDate> 
	<category>Metallurgical industry</category> 
	<author>Helen Yuan</author>
	<description><![CDATA[
	STAINLESS steel demand in China, the world's largest producer, will stay weak next month amid concerns of an economic slowdown, the country's three largest producers said.
 
"The market hasn't improved," Chai...]]></description>
</item>

<item>
	<title>Strong wins</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371101
	</link>
	<pubDate>2008-8-22 0:57:50</pubDate> 
	<category>Airlines and airports</category> 
	<author></author>
	<description><![CDATA[
	AMERICAN Express Business Travel has reported a strong half year in the Asia Pacific with new contracts up 33 percent and sales rising 36 percent year over year to June.

Contributing to the growth of the organization...]]></description>
</item>

<item>
	<title>Commerce ministry seeks public views</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371099
	</link>
	<pubDate>2008-8-22 0:51:32</pubDate> 
	<category>Business</category> 
	<author></author>
	<description><![CDATA[
	CHINA'S Ministry of Commerce yesterday announced it would seek public opinion through next Monday on its administrative rules on qualifications of international contractors.
 
The State Council, China's Cabinet,...]]></description>
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<item>
	<title>ICBC profit jump puts bank on top of world</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371098
	</link>
	<pubDate>2008-8-22 0:50:32</pubDate> 
	<category>Banking</category> 
	<author>Maggie Zhang</author>
	<description><![CDATA[
	THE Industrial and Commercial Bank of China said yesterday its first-half profit surged 57 percent to 64.5 billion yuan (US$9.38 billion), making it the world's most profitable bank.
 
While some top global banks...]]></description>
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<item>
	<title>GE's new tech park</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371100
	</link>
	<pubDate>2008-8-22 0:49:36</pubDate> 
	<category>Machinery manufacturing</category> 
	<author></author>
	<description><![CDATA[
	GENERAL Electric Co, a global infrastructure, finance and media company, has launched its China Technology Park in Shanghai to strengthen services to local customers and partners. 

An expansion of existing facilities,...]]></description>
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<item>
	<title>Hong Kong's inflation rate surges</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371096
	</link>
	<pubDate>2008-8-22 0:41:15</pubDate> 
	<category>Macro-economy and policy</category> 
	<author></author>
	<description><![CDATA[
	HONG Kong's consumer prices rose 6.3 percent last month from a year earlier, and were up on June's 6.1-percent rise, the Census and Statistics Department said in its latest statistics released yesterday.
 
The...]]></description>
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<item>
	<title>Pudong cuts taxes to compete</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371097
	</link>
	<pubDate>2008-8-22 0:40:34</pubDate> 
	<category>Accounting, auditing and taxation</category> 
	<author>Eugene Tang</author>
	<description><![CDATA[
	SHANGHAI'S Pudong New Area plans to offer tax incentives to overseas bankers, brokers and insurers to help it become a global financial center and head off challenges from Tianjin Municipality and Shenzhen, a city...]]></description>
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<item>
	<title>Stardoll and Tom embrace</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371094
	</link>
	<pubDate>2008-8-22 0:39:56</pubDate> 
	<category>Information industry</category> 
	<author>Zhu Shenshen</author>
	<description><![CDATA[
	STARDOLL, the world's largest virtual goods Website for girls, announced yesterday a partnership with Tom Online to launch a Chinese version Stardoll community Website to penetrate the domestic market that has the...]]></description>
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<item>
	<title>Shenzhen bank profit almost doubled</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371093
	</link>
	<pubDate>2008-8-22 0:39:26</pubDate> 
	<category>Banking</category> 
	<author>Zhang Fengming</author>
	<description><![CDATA[
	SHENZHEN Development Bank said yesterday its first-half profit almost doubled on higher margins and a cut in tax rates.
 
The bank's profit rose to 2.14 billion yuan (US$312 million), or 0.93 yuan a share, from...]]></description>
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<item>
	<title>Cost increases push Macau's CPI up 9.2%</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371095
	</link>
	<pubDate>2008-8-22 0:38:43</pubDate> 
	<category>Macro-economy and policy</category> 
	<author></author>
	<description><![CDATA[
	MACAU'S inflation rate as measured by the Composite Consumer Price Index rose 9.22 percent year on year in July, according to the figures released yesterday by the city's Statistics and Census Service.
 
The data...]]></description>
</item>

<item>
	<title>Fiat invests in engine of growth</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371092
	</link>
	<pubDate>2008-8-22 0:37:54</pubDate> 
	<category>Automobile</category> 
	<author></author>
	<description><![CDATA[
	ITALIAN car maker Fiat SpA is spending 1.8 billion yuan (US$265 million) to build an engine plant in China's Chongqing Municipality, hoping to rev up its slow development in the world's second-largest auto market.
...]]></description>
</item>

<item>
	<title>Hutchison's net in H1 exceeds analysts' views</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371091
	</link>
	<pubDate>2008-8-22 0:37:11</pubDate> 
	<category>Real estate</category> 
	<author>Theresa Tang</author>
	<description><![CDATA[
	HUTCHISON Whampoa Ltd's first-half profit beat analysts' estimates after billionaire Li Ka-shing's largest company narrowed losses on high-speed mobile-phone services and boosted port and energy earnings.
 
Net...]]></description>
</item>

<item>
	<title>Apartment sales drive up HK builder's profit</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371090
	</link>
	<pubDate>2008-8-22 0:36:29</pubDate> 
	<category>Real estate</category> 
	<author>Kelvin Wong</author>
	<description><![CDATA[
	CHEUNG Kong (Holdings) Ltd, the builder owned by Asia's richest man Li Ka-shing, said first-half profit, excluding unit Hutchison Whampoa Ltd, rose 60 percent as it booked more earnings from apartment sales.
 
Profit...]]></description>
</item>

<item>
	<title>Surprising drop in PCCW earnings</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371089
	</link>
	<pubDate>2008-8-22 0:30:30</pubDate> 
	<category>Information industry</category> 
	<author>Mark Lee</author>
	<description><![CDATA[
	PCCW Ltd, Hong Kong's biggest phone carrier, yesterday reported an unexpected decline in first-half profit and said the sale of its telecommunications unit may be completed by October to revive earnings growth. The...]]></description>
</item>

<item>
	<title>JAL feels pinch from increases in jet fuel</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371088
	</link>
	<pubDate>2008-8-22 0:29:35</pubDate> 
	<category>Airlines and airports</category> 
	<author>Chris Cooper</author>
	<description><![CDATA[
	JAPAN Airlines Corp will raise surcharges for a sixth consecutive quarter to cover rising jet-fuel costs.
 
Surcharges on flights between Japan and North America would rise by 5,000 yen (US$46.15) to 33,000 yen one...]]></description>
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<item>
	<title>China has big hand in Japan's export lift</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371087
	</link>
	<pubDate>2008-8-22 0:28:25</pubDate> 
	<category>Foreign trade</category> 
	<author>Tomoko A. Hosaka</author>
	<description><![CDATA[
	JAPAN'S trade surplus shrank sharply in July on higher oil and commodities prices, figures showed yesterday, but robust exports to the rest of Asia, Russia, Australia and the Mideast are helping reduce the nation's...]]></description>
</item>

<item>
	<title>PlayStation Portable all primed for global update</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371085
	</link>
	<pubDate>2008-8-22 0:26:37</pubDate> 
	<category>Information industry</category> 
	<author>Lena Lee</author>
	<description><![CDATA[
	SONY Corp, the second-largest maker of consumer electronics, will sell a new model of its PlayStation Portable handheld game machine worldwide in October.
 
The player, bundled with games, would be priced at US$199.99...]]></description>
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	<title>Financial stocks sink Hong Kong index</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371082
	</link>
	<pubDate>2008-8-22 0:15:29</pubDate> 
	<category>Securities</category> 
	<author></author>
	<description><![CDATA[
	HONG Kong stocks fell to a one-year low, led by financial firms, amid renewed concern credit-market losses will damp global economic growth.
 
Bank of East Asia Ltd, whose first-half profit plunged after it set aside...]]></description>
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<item>
	<title>Firm's HK debut turns out weaker</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371081
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Securities</category> 
	<author>Lee Spears</author>
	<description><![CDATA[
	CHINA South Locomotive & Rolling Stock Corp, the nation's biggest maker of rail vehicles, gained 1 percent in its Hong Kong trading debut yesterday, worse than its first-day performance in Shanghai this week.
 
China...]]></description>
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<item>
	<title>Shares dive on no sign of stimulus plan</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371083
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Securities</category> 
	<author>Jin Jing</author>
	<description><![CDATA[
	SHARES in Shanghai tumbled yesterday from a sharp jump a day earlier, as bargain hunters dumped their holdings after a reported stimulus plan was not confirmed by the central government.
 
The Shanghai Composite...]]></description>
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<item>
	<title>German bank bailed out</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371084
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Securities</category> 
	<author>Aaron Kirchfeld</author>
	<description><![CDATA[
	LONE Star Funds, the Dallas-based private equity firm, agreed to buy IKB Deutsche Industriebank AG after the German bank collapsed, becoming the country's first casualty of the subprime mortgage crisis.
 
The United...]]></description>
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<item>
	<title>Qantas on a high, for the moment</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371064
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Airlines and airports</category> 
	<author></author>
	<description><![CDATA[
	QANTAS Airways Ltd yesterday reported a 44-percent rise in annual net profit, but acknowledged it was beginning to feel the effect of a slowing economy and higher fuel costs.
 
It reported a second-half profit fall...]]></description>
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<item>
	<title>Boeing attempts to head off strike</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371065
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Airlines and airports</category> 
	<author>Susanna Ray</author>
	<description><![CDATA[
	BOEING Co is scheduled to begin the final push of contract talks with its largest union amid pressure to avert a strike that would cause further delays in the plane maker's 787 Dreamliner program.
 
Bank of America...]]></description>
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<item>
	<title>Stitching photos into 3D images on PCs</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371061
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Information industry</category> 
	<author>Dina Bass</author>
	<description><![CDATA[
	MICROSOFT Corp, the world's largest software maker, has introduced an online program that lets users stitch together collections of photos into movie-like three-dimensional images of places or objects.
 
The product,...]]></description>
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<item>
	<title>Lawsuit is filed over iPhone 3G sales pitch</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371062
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Information industry</category> 
	<author>Joel Rosenblatt</author>
	<description><![CDATA[
	APPLE Inc's new iPhone 3G drops calls and doesn't download Web pages and music at twice the rate of its predecessor as the company advertises, a consumer said in a lawsuit.
 
The iPhone 3G, which relies on a new...]]></description>
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<item>
	<title>Online 'slave trade' a national phenomenon</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371080
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Information industry</category> 
	<author>Zhu Shenshen</author>
	<description><![CDATA[
	NO one takes serious note of what people say online, but the latest Net greeting definitely has a shock value. After all, it says: "Please buy me as your slave."
 
The "friend sale" application of the Facebook-styled...]]></description>
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<item>
	<title>Wii wand faces lawsuit</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371086
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Information industry</category> 
	<author>Yuri Kageyama</author>
	<description><![CDATA[
	NINTENDO'S hit Wii console with its wand-like remote controller has been targeted in patent-infringement complaints by a United States technology company.
 
Hillcrest Laboratories, based in Rockville, Maryland,...]]></description>
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<item>
	<title>FCC energy assets buy is in the wind</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371059
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Real estate</category> 
	<author>Charles Penty</author>
	<description><![CDATA[
	FOMENTO de Construccionesy Contratas SA, Spain's third-biggest builder, yesterday agreed to pay 780 million euros (US$1.2 billion) in cash and debt for Babcock & Brown Wind Partners' wind energy assets in the country.
...]]></description>
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<item>
	<title>Home-sale slump pressures Persimmon to cut dividend</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371060
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Real estate</category> 
	<author></author>
	<description><![CDATA[
	BRITISH house builder Persimmon reported a 64-percent fall in first-half pretax profit yesterday and said it was cutting its dividend.
 
It blamed very difficult market conditions and uncertainty for the rest of...]]></description>
</item>

<item>
	<title>Schaeffler grabs Continental stake to create car-parts giant</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371063
	</link>
	<pubDate>2008-8-22</pubDate> 
	<category>Automobile</category> 
	<author>Chris Reiter</author>
	<description><![CDATA[
	SCHAEFFLER Group yesterday won control of Continental AG with a sweetened bid that values the German tire maker at 12.1 billion euros (US$17.95 billion) and creates the world's largest car-parts manufacturer.
 
Schaeffler,...]]></description>
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<item>
	<title>New forex policy gives more options to companies and individuals</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371044
	</link>
	<pubDate>2008-8-21 16:34:34</pubDate> 
	<category>Macro-economy and policy</category> 
	<author>Zhang Fengming</author>
	<description><![CDATA[
	A NEWLY launched two-way foreign currency exchange service by non-financial players in Shanghai and Beijing will help increase forex assets among individuals and trim mounting forex reserves, said economists.
 
"The...]]></description>
</item>

<item>
	<title>Bank's first-half profits almost double</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371043
	</link>
	<pubDate>2008-8-21 16:31:36</pubDate> 
	<category>Banking</category> 
	<author>Zhang Fengming</author>
	<description><![CDATA[
	SHENZHEN Development Bank said today its first-half profit almost doubled on widening margins and tax rate cuts.
 
The Shenzhen-based lender's profits rose to 2.14 billion yuan (US$312 million), or 0.93 yuan a share,...]]></description>
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<item>
	<title>Market retreats as banking shares falter</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371041
	</link>
	<pubDate>2008-8-21 15:27:56</pubDate> 
	<category>Securities</category> 
	<author>Lydia Chen</author>
	<description><![CDATA[
	SHANGHAI'S key stock index retreated from yesterday's surge and lost more than three percent today as financial shares fell on concern higher oil prices will stoke inflation and prompt the central bank to tighten...]]></description>
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<item>
	<title>Banks, developers pull index down at midday</title> 
	<link>
	
	http://www.shanghaidaily.com/article/?id=371037
	</link>
	<pubDate>2008-8-21 12:19:32</pubDate> 
	<category>Securities</category> 
	<author>Lydia Chen</author>
	<description><![CDATA[
	A DROP among banks and real estate developers dragged Shanghai's key stock index down in the morning session today.
 
The drop came as investors showed concern that higher global oil prices will stoke inflation...]]></description>
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