Editor's Picks

Russia cuts key rate to 8% 

Business
2011-12-24

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Key index gains for 1st time in a week 

Business | Securities
2011-12-24

THE Shanghai stock market yesterday rose for the first time in a week as offshore yuan platform licenses have been awarded and on speculation that property curbs may ease. The Shanghai Composite Index rose by 0.9...

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Wide use of new Internet system eyed 

Business | IT
2011-12-24

CHINA targets to adopt the large-scale commercial use of the next-generation Internet system by 2015 after putting it on trial in 2013. The next-generation Internet system, which greatly expands the capability...

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Three Gorges wins bid for EDP stake 

Business | Energy
2011-12-24

CHINA Three Gorges Corp has won a bid to buy a 21 percent stake in Portuguese utility EDP for 2.69 billion euros (US$3.5 billion), beating rivals from Germany and Brazil, as the south European nation sells state assets...

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Affordable homes set to climb 

Business | Real estate
2011-12-24

CHINA will complete the construction of more affordable housing units next year and will support citizens' "reasonable" demand for new homes by prioritizing loans to first-home buyers, the housing ministry said yesterday. ...

Rail construction funding to be trimmed 

Business | Light industry
2011-12-24

CHINA plans to further cut spending on railway construction next year amid concerns about the sector's mounting debt and safety issues. The Ministry of Railways has earmarked 400 billion yuan (US$63 billion) for...

CIC may get extra US$50b to buy European and US assets 

Business | Economy
2011-12-24

CHINA Investment Corp, the country's US$410 billion sovereign wealth fund is set to receive additional funding of up to US$50 billion, two sources said yesterday, a step that could help it move quickly to buy overseas...

Diversity in bilateral trade to increase 

Business | Trade
2011-12-24

CHINA and Africa will see their bilateral trade becoming more diversified in the next 10 years, with higher Chinese exports of manufactured goods, a senior executive with British bank Standard Chartered has said. ...

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Oil price near US$100 on global security concerns 

Business | Energy
2011-12-24

OIL prices rose above US$100 a barrel Friday as worries over global security issues outweighed weak economic data in the US Benchmark crude ended the day at US$99.68 per barrel in New York, up 15 US cents. It rose...

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Stocks close higher; S&P turns positive for 2011 

Business | Securities
2011-12-24

STOCKS closed higher yesterday after a quiet, pre-holiday session that turned the S&P 500 index positive for the year. Traders were relieved by news that Congress extended a payroll tax holiday for workers and...

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Slower growth 

Business | Economy
2011-12-24

FRANCE'S statistics agency yesterday said the economy grew less than previously estimated in the third quarter of this year, as a new recession looms for Europe's No. 2 economy. The Insee agency said gross domestic...

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PE sector to weaken 

Business | Asset management/M&A
2011-12-24

AFTER surging in the first nine months of this year, as an alternative source of funding, China's private-equity sector is likely to see growth slow in 2012 amid a cooler economy, an industry report said yesterday. ...

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Power of Internet 

Business
2011-12-24

MORE than 600,000 Chinese enterprises will directly report data to state-level or state-approved provincial-level data centers through the Internet, the National Bureau of Statistics said yesterday. The move, part...

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US consumers spend weakly 

Business | Economy
2011-12-24

AMERICAN consumers spent at a lackluster rate in November as their incomes barely grew, suggesting that United States households may struggle to sustain their spending into 2012. Consumer spending rose just 0.1...

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Shanghai port consolidates its position as world's busiest 

Business | Shipping
2011-12-24

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NDRC checks on random fees 

Business | Banking
2011-12-24

THE National Development and Reform Commission will crack down on random fee collection by banks next year, a senior official said yesterday. The NDRC has discovered that banks have been randomly charging fees...

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Three Gorges wins bidding war for Portugal EDP stake 

Business | Energy
2011-12-23

CHINA Three Gorges Corp has won a bid to buy a 21 percent stake in Portuguese utility EDP for 2.69 billion euros (US$3.5 billion), beating rivals from Germany and Brazil, as the southern European nation sells state...

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Stocks snap out of 4-day losing streak to end 0.85% up 

Business | Securities
2011-12-23

THE Shanghai Composite Index snapped out of a four-day decline as offshore yuan platform licenses were awarded and amid speculation of easing property curbs. The key index rose by 0.85 percent to 2,204.78 points,...

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Shanghai cements position as world's top container port 

Business | Shipping
2011-12-23

SHANGHAI consolidated its title as the world's largest container port as the city today celebrates becoming the world's first port to handle more than 30 million twenty-foot equivalent units this year. Shanghai's...

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Stocks jump 1.45% as bankers' confidence rise 

Business | Securities
2011-12-23

THE Shanghai Composite Index snapped out of a four-day decline on a higher Bankers Confidence Index and improved US economic data. The key index climbed by 1.45 percent to 2,218.01 points in the morning, with a...

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Stocks close higher on better job market news 

Business | Securities
2011-12-23

ENCOURAGING economic reports pushed stocks higher yesterday. The Dow Jones industrial average rose 61 points, its third gain in a row. The number of Americans applying for unemployment benefits dropped last week...

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Oil rises for 4th day, touches US$100 a barrel 

Business | Energy
2011-12-23

OIL prices rose for the fourth day in a row yesterday amid signs of an improving US economy and concerns about global supplies. The price of benchmark crude rose 86 cents to finish at US$99.53 per barrel in New...

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Housing loses its appeal as preferred investment 

Business | Real estate
2011-12-23

THE number of Chinese people intending to buy homes has dropped to its lowest since 2008, with housing losing its appeal as the most preferred investment option for individuals, a central bank quarterly survey showed...