Business

Chilean president signs document for OECD membership

Chilean President Michelle Bachelet (R) shakes hands with Angel Gurria, Secretary-General of the Organization for Economic Co-operation and Development (OECD), in Santiago, capital of Chile, on Jan. 11, 2010. Michelle Bachelet on Monday signed a [...]

JPMorgan Chase fourth quarter profit beats estimate

A man walks into the headquarters of JPMorgan Chase in New York, the United States, Jan. 12, 2010. JPMorgan Chase Co. easily beat analysts’ expectation by reporting a profit of 3.28 billion U.S. dollars [...]

German central bank forecasts economic growth in next two years

BERLIN, Dec. 4 — Germany’s economy will grow 1.6 percent next year and 1.2 percent in 2011, the country’s central bank said Friday in its monthly report. “The outlook for the German economy has [...]

Rates hike, all about timing for U.S. Fed

by Matthew Rusling WASHINGTON, Jan. 16 — After holding interest rates near zero for more than a year, the U.S. Federal Reserve is seeking an opportune moment to reverse the trend. But the timing [...]

Mazda, Ford to dissolve JV

China automaker Geely inaugurates assembly line in Russia

MOSCOW, Jan. 16 — An assembly line of Chinese automaker Geely was officially launched in Russia’s Caucasus republic of Karachay-Cherkessia, local media reported Saturday. Russian car company Derways has started body welding and other [...]

Shanghai sees further recovery in foreign trade last month

SHANGHAI, Jan. 17 — China’s economic hub Shanghai in December posted the first year-on-year growth in both imports and exports in 14 months, indicating further recovery from the economic downturn, local customs said Sunday. [...]

Reserve ratio move may pull yuan up

BEIJING, Jan. 18 — The yuan is likely to appreciate against the United States dollar this week after China raised the bank reserve ratio in an effort to curb liquidity and shift from an overly [...]

Wall Street ends 2009 with sharp fall

¤Wall Street fell sharply at last minutes on final day of the year.¤The encouraging job data showed the economy was heading to the right direction ¤But the data also spurred concerns for a sooner rate [...]

Crude prices end 2009 with biggest annual gain in decade

NEW YORK, Dec. 31 — Crude oil in New York markets finished a little higher on Thursday, the last trading day of 2009,after climbing over 70 percent in the year, the biggest annual gain [...]

Dollar mixed against most major currencies

NEW YORK, Dec. 31 — The dollar was mixed against major currencies on Thursday in the last trading day of 2009 with thin volume. U.S. initial claims for jobless benefits unexpectedly declined to 432,000 [...]

China manufacturing expands for 10 months

BEIJING, Jan. 1 — China’s manufacturing has recorded growth for 10 straight months, consolidating the recovery of the world’s third largest economy, an official survey showed on Friday. The Purchasing Managers’ Index (PMI) [...]

China-ASEAN free trade area starts operation

¤China and the Association of Southeast Asian Nationskicked off free trade area Friday.¤From Friday, the average tariff on goods from ASEAN countries to China is cut down to 0.1%.¤Six original ASEAN members will slash average [...]

S Korea posts record trade surplus in 2009

SEOUL, Jan. 1 — South Korea’s trade surplus posted a record high of 41 billion U.S. dollars in 2009, mainly due to significant decrease in imports against the background of global economic downturn, a [...]

Trade volume sets new record at China’s largest small commodities market

HANGZHOU, Jan. 1 — The trade volume at the Yiwu market in east China’s Zhejiang Province, the country’s largest distribution center for small commodities, had set a new record in 2009 despite the global [...]

Britain ends 2009 as last G20 nation still in recession

by Peter Barker LONDON, Jan. 1 — The British economy has weathered one of its most turbulent years and has ended 2009 with unemployment lower than expected but still in recession. Chancellor of the [...]

Feature: U.S. investors eye new frontier in Chinese market

by Yang Lei NEW YORK, Jan. 1 — When investors open their books for a new year, without doubt that China will be a hot spot that they can’t afford to miss. And for [...]

Bank of England figures show credit crunch easing as lending increases

LONDON, Jan. 1 — The Bank of England (BOE) has unveiled encouraging figures for the final quarter of 2009 that show lending to businesses and households increased, indicating an easing of the effects of [...]

Outlook for Russian stock market positive in 2010

MOSCOW, Jan. 2 — Investors as well as authorities have predicted a bright 2010 stock market in Russia which just saw solid gains as the benchmark Russian Trading System (RTS) index and the Moscow [...]

SAIC boosts wholly owned brands

BEIJING, Jan. 4 –SAIC Motor Co Ltd sold more than 82,000 cars of its Roewe and MG brands between January and November of 2009, up 160 percent over the same period of the previous year. [...]