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International

China Orders Curbs on Grain Price Speculation

The National Development and Reform Commission (NDRC), China’s top economic planner, Wednesday ordered local authorities to take actions to prevent hoarding and price speculation in grain markets and work to maintain market order. The NDRC accused some businesses of blindly buying large amounts of grain, then bidding up grain prices following adverse weather in some […]

International

Business Confidence Continues to Drop in New Zealand

Business confidence in New Zealand fell for a third consecutive month, according to the latest National Bank business outlook report released on Wednesday. There was now a clear change in direction and weakness in confidence was broad-based, the report’s authors said. Overall, a net 28 percent of respondents expect an improvement in business conditions in […]

International

S. Korean PM likely to Resign Today

South Korean Prime Minister Chung Un-chan is expected to formally offer his resignation on Thursday or Friday, local leading broadcaster YTN reported. Chung expressed his strong intention to step down during an one- on-one meeting with the President Lee Myung-bak on July 6, taking responsibility for the failure to gain parliamentary approval for the contentious […]

International

U.S. Congress OKs Afghanistan War Funding

The U.S. Congress on Tuesday approved a 59-billion-dollar funding measure that would pay for troop increase in Afghanistan, sending it for President Barack Obama’s signature. The House of Representatives approved the measure with a 308 to 114 vote. It passed the Senate earlier. In the measure, about 33 billion is earmarked to pay for the […]

International

China’s Industrial Profit Up 71.8 Pct in 1H

Profits of China’s industrial enterprises climbed 71.8 percent year on year to hit 1.61 trillion yuan (237.5 billion U.S. dollars) in the first six months, the National Bureau of Statistics (NBS) said Wednesday. The growth was 11.2 percentage points lower than that in the first five months, the NBS said in a statement.

International

Blast Hits Factory in E.China, Heavy Casualties Likely

powerful explosion hit a factory in eastern China’s Jiangsu Province Wednesday, killing a yet-unknown number of people and injuring many more, witnesses and hospital sources said. An initial investigation showed gas leak triggered a blast at about 10:10 a.m. in a plastics factory at Mufu East Road, of Qixia District in northern Nanjing, capital of […]

International

US asks Pak to implement UN action against Haqqani network

The US has said it wants Pakistan to implement UN curbs against three key financers who raised money for the Taliban and Haqqani network, a day after slapping sanctions on the leaders of these outfits. The three were named by the UN Security Council early this week while the US Department of Treasury slapped sanctions […]

International

Wall Street Advances on European Bank Stress Tests Results

Wall Street rose Friday on the results from European bank stress tests. The European Union (EU) said on Friday that seven European banks failed the stress tests conducted to reassure investors of healthiness of Europe’s banking sector. A total of 91 banks in 20 EU countries, representing 65 percent of Europe’s banking sector, were examined […]

International

China’s Economy Unlikely to See Double-dip: Report

China’s economy is unlikely to see a “double dip” in the second half of this year, and the economic growth for the remaining six months is expected to surpass 9 percent, according to a Bank of Communications report released Saturday. China’s economic growth will slow down in the next half year, while consumer prices would […]