China to Extend Resources Tax to Cover Entire Nation: Official
China plans to extend a tax on oil, natural gas and coal output to the entire nation; the rate may vary across commodities.
Housing Prices May Decline in China: Standard Chartered
China's leading cities could see prices plummet 20 percent to 30 percent, while the second and third tier cities could see declines of 10 percent to 20 percent.
Chang'an to Sign JV Deal with PSA on June 9
Chang'an Automobile, one of China's biggest car makers said it will ink a deal on Friday with PSA Peugeot Citroen in France to set up a 50-50 joint venture.
Australia Cuts Resources Tax to 30Pct
Australian government on Friday cut the tax rate for iron ore and coal profits from 40 percent to 30 percent, a substantial concession to the mining firms.
HSBC China June PMI Slips to 50.4
HSBC China June PMI slipped to 50.4 from 52.7 in May as new output and new orders dropped outright for the first time since the depths of the global downturn in March 2009.
EU Fines Steel Makers 518Mln Euros for Cartel
The producers of prestressing steel, including industry giant ArcelorMittal, have been operating the price-fixing and market-sharing cartel between 1984 and 2002 in all EU member states excluding Britain, Ireland and Greece.
Downtrend Seen in China's Summer Grain Output
China's summer grain output has slightly declined, ending six years' consecutive bumper harvest.
Google Stops Redirecting Chinese Search Traffic to .hk Site
Google has stopped redirecting Chinese search traffic to .hk site, and started to take them to a landing page on that links to .hk.
Iraq Seeks $20-Bln Investment for New Oil Refineries
Iraq is seeking 20 billion U.S. dollars in investments to finance four new oil refineries, said its oil minister.
EU, US Open Skies Moves to Next Phase
The second-stage "open skies" agreement aims at further regulatory cooperation and additional market opportunities.
Western Australia Makes U-Turn over Rio, BHP's JV
BHP and Rio move have moved closer to a joint venture deal as the western Australian government made a U-turn on the plan.
Qatar to Invest US$2.8 Bln in AgBank IPO
Qatar Investment Authority will buy US$2.8 billion worth of shares in AgBank's planned IPO.
JP Morgan Forms China Securities JV with First Capital Securities
The new joint venture will underwrite and sponsor deals in China’s securities market; First Capital Securities will hold 67% of the JV and JP Morgan will hold the remaining 33%.
Housing Finance in Emerging Markets Prospering Despite Crisis: World Bank
Housing finance in emerging markets is prospering despite the economic slowdown and the mortgage crisis in many advanced economies.
China to Invest 700Bln Yuan on New Railways
China plans to invest 700 billion yuan (103 billion U.S. dollars) on some 4,600km of high-speed railways this year
China's Myanmar Oil, Gas Pipelines to Begin
China's largest oil and gas producer and supplier said on Friday it has started work on construction of two oil and gas pipelines between China and Myanmar.
Huaxia Bank Wins Nod for 20.8 Bln Yuan Private Placement
Huaxia Bank Co., Ltd yesterday has obtained approval from its board to raise up to 20.8 billion yuan by private placement.
HP Sets to Cut 6,000 Jobs, Q2 Profit Surges
The world's largest PC maker Hewlett Packcard announced yesterday it is to shed 6,000 jobs in the next few years, as a result of productivity gains from automation.
HSBC: China May PMI Falls to 11-Mmonth Low of 52.7
HSBC's China Purchasing Manager's Index (PMI) dropped in May to an 11-month low of 52.7 from 55.2 in April, as output and new orders slowed.
Strike Shuts Honda's Four Chinese Plants
A strike at Honda Motor Co.'s transmission factory in southern China has forced the Japanese auto maker to shut all four of its Chinese joint-venture final-assembly plants.
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