<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0">
<channel>
<title> Business </title>
<image>
<title>People's Daily Online</title>
<link>http://english.people.com.cn/</link>
<url>http://english.people.com.cn/images/en/top_logo_e.gif</url>
</image>
<description>People's Daily Online</description>
<link>http://english.people.com.cn/90001/90778/</link>
<item>
<title><![CDATA[China continues anti-dumping measures on some imported TDI]]></title>
<news_id>6819695</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6819695.html ]]></link>
<pubDate>2009-11-20 21:50:04</pubDate>
<description><![CDATA[ China's Ministry of Commerce (MOC) announced Friday that it will maintain anti-dumping measures on some imported Toluene Diisocyanate (TDI) from Nov. 21.       The anti-dumping measures target TDI, a widely used organic compound in the chemical industry, imported from Japan, the Republic of Korea, and the United States. The period will be five years.       China launched anti-dumping measures on TDI from those countries in 2003 for a period of five years, and launched an investigation into  ...]]></description>
<full-text><![CDATA[ China's Ministry of Commerce (MOC) announced Friday that it will maintain anti-dumping measures on some imported Toluene Diisocyanate (TDI) from Nov. 21.       The anti-dumping measures target TDI, a widely used organic compound in the chemical industry, imported from Japan, the Republic of Korea, and the United States. The period will be five years.       China launched anti-dumping measures on TDI from those countries in 2003 for a period of five years, and launched an investigation into ending of the measures in November 2008, on the request of some Chinese companies.       The MOC said that if China suspended anti-dumping measures on the material, the domestic industry would continue to be harmed.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China telecom sector reports nearly 700 bln yuan in main business revenue by Oct.]]></title>
<news_id>6819694</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6819694.html ]]></link>
<pubDate>2009-11-20 21:49:07</pubDate>
<description><![CDATA[China's telecom industry reported 698,9 billion yuan (101 billion U.S. dollars) in main business revenue for the first ten months this year, up 3.4 percent year on year, according to a statement Friday by the Ministry of Industry and Information Technology.       To breakdown, business revenue of wireless telecommunications took 60 percent share while those for fixed-line business and data communications took 28 percent, and 12 percent share, respectively.       The ministry also released su ...]]></description>
<full-text><![CDATA[China's telecom industry reported 698,9 billion yuan (101 billion U.S. dollars) in main business revenue for the first ten months this year, up 3.4 percent year on year, according to a statement Friday by the Ministry of Industry and Information Technology.       To breakdown, business revenue of wireless telecommunications took 60 percent share while those for fixed-line business and data communications took 28 percent, and 12 percent share, respectively.       The ministry also released subscriber data which showed more and more Chinese people are choosing mobile phone services while fixed-line subscribers are decreasing.       The number of fixed-line subscribers was down by nearly 19 million for the first ten months while mobile phone users were up by more than 88 million, reaching 730 million by the end of October.       Total phone users reached 1.05 billion at the same period, according to the statement.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China to float 15 bln yuan T-bonds next week ]]></title>
<news_id>6819693</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6819693.html ]]></link>
<pubDate>2009-11-20 21:48:28</pubDate>
<description><![CDATA[China will issue 15 billion yuan (about 2.2 billion U.S. dollars) of short-term treasury bonds next week, the Ministry of Finance said here Friday.       The book-entry treasury bonds, which is the 24th batch of its kind in the year, has a term of 273 days, said the ministry in a statement on its website.       The T-bonds will be sold at an issue price of 98.979 yuan, with an annual interest rate of 1.39 percent.       According to the ministry, a three-day sales will begin on Nov.23. The ...]]></description>
<full-text><![CDATA[China will issue 15 billion yuan (about 2.2 billion U.S. dollars) of short-term treasury bonds next week, the Ministry of Finance said here Friday.       The book-entry treasury bonds, which is the 24th batch of its kind in the year, has a term of 273 days, said the ministry in a statement on its website.       The T-bonds will be sold at an issue price of 98.979 yuan, with an annual interest rate of 1.39 percent.       According to the ministry, a three-day sales will begin on Nov.23. The interests of the bonds will be calculated on Nov. 23 and become tradable on Nov. 27.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Tax-take from automobile industry surges in China]]></title>
<news_id>6819688</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6819688.html ]]></link>
<pubDate>2009-11-20 21:41:50</pubDate>
<description><![CDATA[Tax-take from the automobile industry has surged in the first 10 months this year as auto production and sales were booming in the world's largest market.       The State Administration of Taxation said Friday value added tax (VAT) paid by the transportation equipment manufacturing industry grew 28.8 percent to 88.6 billion yuan (13 billion U.S. dollars) during the period, and business income tax revenue was 30.7 billion yuan, up 29.6 percent.       Meanwhile, automobile acquisition tax reve ...]]></description>
<full-text><![CDATA[Tax-take from the automobile industry has surged in the first 10 months this year as auto production and sales were booming in the world's largest market.       The State Administration of Taxation said Friday value added tax (VAT) paid by the transportation equipment manufacturing industry grew 28.8 percent to 88.6 billion yuan (13 billion U.S. dollars) during the period, and business income tax revenue was 30.7 billion yuan, up 29.6 percent.       Meanwhile, automobile acquisition tax revenue increased 6.3 percent to 91.2 billion yuan, although taxation on the purchase of vehicles with engine displacements below 1.6 liters was reduced by half.       The State Council, or the cabinet, decided on the cut at the beginning of this year to stimulate domestic consumption.       The China Association of Automobile Manufacturers estimated the tax cut had contributed at least a 10 percent growth for the auto market.       Auto production and sales broke the 10 million mark in the first 10 months this year.       Official figures showed that China's auto sales reached 1.22 million units in October, up 72 percent year on year.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Hong Kong's October underlying CPI falls 0.3%]]></title>
<news_id>6819687</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6819687.html ]]></link>
<pubDate>2009-11-20 21:41:15</pubDate>
<description><![CDATA[The underlying consumer price index of Hong Kong for October fell 0.3 percent year on year, statistics authority said Friday.       The composite consumer price index rose by 2.2 percent year on year, representing a larger growth than that in September, the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government said.       However, the underlying CPI inflation, or the year-on-year rate of change after netting out the effects of the one-off relief m ...]]></description>
<full-text><![CDATA[The underlying consumer price index of Hong Kong for October fell 0.3 percent year on year, statistics authority said Friday.       The composite consumer price index rose by 2.2 percent year on year, representing a larger growth than that in September, the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government said.       However, the underlying CPI inflation, or the year-on-year rate of change after netting out the effects of the one-off relief measures in place during October last year, remained the same as that in September, the department said.       A spokesman for the HKSAR government attributed the slightly negative underlying inflation rate to the absence of prices pressures, both local and external.       The recent rather stable movements of the seasonally adjusted underlying composite CPI tend to suggest, "Deflationary pressures should be rather contained," he said.       Netting out the effects of one-off relief measures, the average monthly rate of change in the underlying Composite CPI for the three-month period that ended in October was 0.1 percent, and that for the three-month period that ended in September was virtually nil.       Larger year-on-year increases in prices were recorded in October for electricity, gas and water, mainly because some households had used up the full amount of HKSAR government's one- off electricity charge subsidy.       On the other hand, declines in prices were recorded for durable goods, food, transport and miscellaneous services.       For the first ten months of this year as a whole, the composite CPI rose by 0.4 percent over a year earlier.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[French gov't unveils debt plan to enhance development ]]></title>
<news_id>6819649</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6819649.html ]]></link>
<pubDate>2009-11-20 20:40:10</pubDate>
<description><![CDATA[The French government on Thursday unveiled a 35-billion-euro (52 billion U.S. dollars) national debt policy aimed at enhancing France's long-term development.       A commission led by former prime ministers Alain Juppe and Michel Rocard on Thursday submitted a report to President Nicolas Sarkozy, outlining priorities of the financing campaign.       According to the report, 13 billion euros (19 billion dollars) will come from bailout money repaid by French banks, while the rest will be rais ...]]></description>
<full-text><![CDATA[The French government on Thursday unveiled a 35-billion-euro (52 billion U.S. dollars) national debt policy aimed at enhancing France's long-term development.       A commission led by former prime ministers Alain Juppe and Michel Rocard on Thursday submitted a report to President Nicolas Sarkozy, outlining priorities of the financing campaign.       According to the report, 13 billion euros (19 billion dollars) will come from bailout money repaid by French banks, while the rest will be raised in the financial markets through the issuance of government bonds.       The biggest beneficiaries of the financing policy will be French universities with 16 billion euros (23.8 billion dollars) going for facilities, faculties and research projects.       The report said 4.5 billion euros (6.7 billion dollars) would be used to improve city environments. Another 4 billion euros (6 billion dollars) would be used to promote the digital economy.       Sarkozy announced the so-called "Big Loan" program in June, aiming to fund French industry and infrastructure. A recent poll, however, showed that 56 percent of France's citizens consider the plan "useless."       Once policies are determined, Juppe said, the government will start to issue the public debt at the beginning of next year by passing an amendment to financial law.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[French gov't unveils debt plan to enhance development ]]></title>
<news_id>6819649</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6819649.html ]]></link>
<pubDate>2009-11-20 20:40:10</pubDate>
<description><![CDATA[The French government on Thursday unveiled a 35-billion-euro (52 billion U.S. dollars) national debt policy aimed at enhancing France's long-term development.       A commission led by former prime ministers Alain Juppe and Michel Rocard on Thursday submitted a report to President Nicolas Sarkozy, outlining priorities of the financing campaign.       According to the report, 13 billion euros (19 billion dollars) will come from bailout money repaid by French banks, while the rest will be rais ...]]></description>
<full-text><![CDATA[The French government on Thursday unveiled a 35-billion-euro (52 billion U.S. dollars) national debt policy aimed at enhancing France's long-term development.       A commission led by former prime ministers Alain Juppe and Michel Rocard on Thursday submitted a report to President Nicolas Sarkozy, outlining priorities of the financing campaign.       According to the report, 13 billion euros (19 billion dollars) will come from bailout money repaid by French banks, while the rest will be raised in the financial markets through the issuance of government bonds.       The biggest beneficiaries of the financing policy will be French universities with 16 billion euros (23.8 billion dollars) going for facilities, faculties and research projects.       The report said 4.5 billion euros (6.7 billion dollars) would be used to improve city environments. Another 4 billion euros (6 billion dollars) would be used to promote the digital economy.       Sarkozy announced the so-called "Big Loan" program in June, aiming to fund French industry and infrastructure. A recent poll, however, showed that 56 percent of France's citizens consider the plan "useless."       Once policies are determined, Juppe said, the government will start to issue the public debt at the beginning of next year by passing an amendment to financial law.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Japan's central bank chief denies differences between BOJ, government]]></title>
<news_id>6819648</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819648.html ]]></link>
<pubDate>2009-11-20 20:37:47</pubDate>
<description><![CDATA[Masaaki Shirakawa, the governor of the Bank of Japan (BOJ), denied on Friday there was a difference of opinion between his organization and the government, despite seemingly contradictory statements from the two sides on the economy being released earlier in the day.       "I don't think there is a difference in our views on price moves," Shirakawa said at a news conference.       Earlier in the day, Deputy Prime Minister Naoto Kan and Finance Minister Hirohisa Fujii said that they believed  ...]]></description>
<full-text><![CDATA[Masaaki Shirakawa, the governor of the Bank of Japan (BOJ), denied on Friday there was a difference of opinion between his organization and the government, despite seemingly contradictory statements from the two sides on the economy being released earlier in the day.       "I don't think there is a difference in our views on price moves," Shirakawa said at a news conference.       Earlier in the day, Deputy Prime Minister Naoto Kan and Finance Minister Hirohisa Fujii said that they believed that the Japanese economy had fallen into deflation, and that without action from the private sector, there may be little the government can do to rectify the situation.       A BOJ report released later said that the economy was beginning to recover, seeming to contradict the government view.       "If the government's view that the economy is in moderate deflation is based on continuous price falls, it is not different from what we have shown in our outlook report," Shirakawa said at the news conference. "The cause of sustained price falls is a lack of demand. To solve this problem, we need to expand final demand for corporate spending and for personal consumption as this is the root cause. The government, central bank and private sector must work together to resolve this."       While the manufacturing sector in Japan has shown improvement in the last few months, the benefits are yet to trickle down to households, which has led to less demand for products and deflation.       "Providing liquidity can prevent prices from falling. However, when demand itself is weak, prices won't rise just through liquidity provision," Shirakawa said.       The government of the Democratic Party of Japan (DPJ) has started work on an additional budget for this fiscal year to attempt to improve economic conditions for the nation. Since last year Japan has struggled to recover after shock waves from the global credit crisis reached its shores.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Japan's central bank chief denies differences between BOJ, government]]></title>
<news_id>6819648</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819648.html ]]></link>
<pubDate>2009-11-20 20:37:47</pubDate>
<description><![CDATA[Masaaki Shirakawa, the governor of the Bank of Japan (BOJ), denied on Friday there was a difference of opinion between his organization and the government, despite seemingly contradictory statements from the two sides on the economy being released earlier in the day.       "I don't think there is a difference in our views on price moves," Shirakawa said at a news conference.       Earlier in the day, Deputy Prime Minister Naoto Kan and Finance Minister Hirohisa Fujii said that they believed  ...]]></description>
<full-text><![CDATA[Masaaki Shirakawa, the governor of the Bank of Japan (BOJ), denied on Friday there was a difference of opinion between his organization and the government, despite seemingly contradictory statements from the two sides on the economy being released earlier in the day.       "I don't think there is a difference in our views on price moves," Shirakawa said at a news conference.       Earlier in the day, Deputy Prime Minister Naoto Kan and Finance Minister Hirohisa Fujii said that they believed that the Japanese economy had fallen into deflation, and that without action from the private sector, there may be little the government can do to rectify the situation.       A BOJ report released later said that the economy was beginning to recover, seeming to contradict the government view.       "If the government's view that the economy is in moderate deflation is based on continuous price falls, it is not different from what we have shown in our outlook report," Shirakawa said at the news conference. "The cause of sustained price falls is a lack of demand. To solve this problem, we need to expand final demand for corporate spending and for personal consumption as this is the root cause. The government, central bank and private sector must work together to resolve this."       While the manufacturing sector in Japan has shown improvement in the last few months, the benefits are yet to trickle down to households, which has led to less demand for products and deflation.       "Providing liquidity can prevent prices from falling. However, when demand itself is weak, prices won't rise just through liquidity provision," Shirakawa said.       The government of the Democratic Party of Japan (DPJ) has started work on an additional budget for this fiscal year to attempt to improve economic conditions for the nation. Since last year Japan has struggled to recover after shock waves from the global credit crisis reached its shores.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[39th ASEAN bankers' council meeting held in Cambodia ]]></title>
<news_id>6819647</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819647.html ]]></link>
<pubDate>2009-11-20 20:37:10</pubDate>
<description><![CDATA[Senior officials from ASEAN nations' national and private banks gathered here on Friday to attend the 39th ASEAN banking council meeting.       The annual bankers' meeting focused on how to speed up the process of the integration of ASEAN financial services by 2015, and discussed on the cooperation in finance, investment, education and ASEAN inter-regional relations.       "The close cooperation among ASEAN banks will certainly help to speed up the process of the integration of ASEAN financi ...]]></description>
<full-text><![CDATA[Senior officials from ASEAN nations' national and private banks gathered here on Friday to attend the 39th ASEAN banking council meeting.       The annual bankers' meeting focused on how to speed up the process of the integration of ASEAN financial services by 2015, and discussed on the cooperation in finance, investment, education and ASEAN inter-regional relations.       "The close cooperation among ASEAN banks will certainly help to speed up the process of the integration of ASEAN financial services by 2015," Neav Chanthana, deputy governor of the Central National Bank of Cambodia, said in her keynote address at the two-day meeting.       "Due to increasing regional integration, the banking industry and banking supervisors share a number of convergent priorities," She stressed, adding that "I am rather optimistic that rational dialog based on responsible and knowledgeable positions, between people acting professionally, is always a source of progress in the banking industry to support economic growth," she added.       As a member of the Association of Southeast Asian Nations (ASEAN), Cambodia enjoyed double digit economic growth over the past decade. In 2009, however, Cambodia is severely hit by the global financial crisis through the real sector, namely garments, construction, and tourism which had been the driving forces of Cambodian economy.       Neav Chanthana said that national bank of Cambodia will carefully follow the international developments and consider implementation in a progressive manner and in line with domestic market developments and priorities.       Phung Kheav Se, chairman of Association of Banks in Cambodia, said at the meeting that "Our close association with the ASEAN organization and with its member countries has been of enormous benefit to Cambodia in many respects economic, social and political."       According to a report from Association of Banks in Cambodia, Cambodia has six specialized banks and commercial banks and 20 microfinance institutions as its members.       Founded in 1967, the ASEAN (the Association of Southeast Asia Nations) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[39th ASEAN bankers' council meeting held in Cambodia ]]></title>
<news_id>6819647</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819647.html ]]></link>
<pubDate>2009-11-20 20:37:10</pubDate>
<description><![CDATA[Senior officials from ASEAN nations' national and private banks gathered here on Friday to attend the 39th ASEAN banking council meeting.       The annual bankers' meeting focused on how to speed up the process of the integration of ASEAN financial services by 2015, and discussed on the cooperation in finance, investment, education and ASEAN inter-regional relations.       "The close cooperation among ASEAN banks will certainly help to speed up the process of the integration of ASEAN financi ...]]></description>
<full-text><![CDATA[Senior officials from ASEAN nations' national and private banks gathered here on Friday to attend the 39th ASEAN banking council meeting.       The annual bankers' meeting focused on how to speed up the process of the integration of ASEAN financial services by 2015, and discussed on the cooperation in finance, investment, education and ASEAN inter-regional relations.       "The close cooperation among ASEAN banks will certainly help to speed up the process of the integration of ASEAN financial services by 2015," Neav Chanthana, deputy governor of the Central National Bank of Cambodia, said in her keynote address at the two-day meeting.       "Due to increasing regional integration, the banking industry and banking supervisors share a number of convergent priorities," She stressed, adding that "I am rather optimistic that rational dialog based on responsible and knowledgeable positions, between people acting professionally, is always a source of progress in the banking industry to support economic growth," she added.       As a member of the Association of Southeast Asian Nations (ASEAN), Cambodia enjoyed double digit economic growth over the past decade. In 2009, however, Cambodia is severely hit by the global financial crisis through the real sector, namely garments, construction, and tourism which had been the driving forces of Cambodian economy.       Neav Chanthana said that national bank of Cambodia will carefully follow the international developments and consider implementation in a progressive manner and in line with domestic market developments and priorities.       Phung Kheav Se, chairman of Association of Banks in Cambodia, said at the meeting that "Our close association with the ASEAN organization and with its member countries has been of enormous benefit to Cambodia in many respects economic, social and political."       According to a report from Association of Banks in Cambodia, Cambodia has six specialized banks and commercial banks and 20 microfinance institutions as its members.       Founded in 1967, the ASEAN (the Association of Southeast Asia Nations) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korean FM says no renegotiation with U.S. on FTA ]]></title>
<news_id>6819646</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819646.html ]]></link>
<pubDate>2009-11-20 20:36:46</pubDate>
<description><![CDATA[South Korean Foreign Minister Yu Myung-hwan said Friday the government will not renegotiate with the United states on the free trade agreement (FTA) between the two countries.       Yu made the comment while addressing the National Assembly, as a clarification to a remark President Lee Myung-bak made at a joint press conference with visiting U.S. President Barack Obama on Thursday, saying that he sought an opportunity to re-discuss the opening of his country's automobile market with the United ...]]></description>
<full-text><![CDATA[South Korean Foreign Minister Yu Myung-hwan said Friday the government will not renegotiate with the United states on the free trade agreement (FTA) between the two countries.       Yu made the comment while addressing the National Assembly, as a clarification to a remark President Lee Myung-bak made at a joint press conference with visiting U.S. President Barack Obama on Thursday, saying that he sought an opportunity to re-discuss the opening of his country's automobile market with the United States.       Lee said "such a view came as I had sufficient communication with President Obama, and I want to push for it in an aggressive manner as it would benefit both of the countries."       With respect to Lee's remarks, South Korean media were heated as it could imply that South Korea may go through negotiation process with the United States again.       Yu said the president was not referring to a renegotiation but was taking an offensive stance on the United States for raising issues with the FTA's auto provisions.       He stressed that there will be no renegotiations, even if Washington requests.       Meanwhile, the country's presidential office Cheong Wa Dae said on Friday there will be no any changes to the South Korea-U.S. FTA.       A Cheong Wa Dae official told Yonhap News Agency that the president's remark was not referring to modifying the agreement, but means it could be slightly fine-tuned, such as adding some content to the annex.       Another official in charge of diplomatic and security affairs said "If we rewrite the document, that is a renegotiation. It is the government's policy that we will not change the agreement."       There is no precedent for modifying a FTA that have been already reached between two countries, he noted.       If Seoul has to discuss the issue in the auto sector with the United States, Seoul will also propose additional discussions on the agricultural sector which suffers great pressure from public opinion in the country, he added.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korean FM says no renegotiation with U.S. on FTA ]]></title>
<news_id>6819646</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819646.html ]]></link>
<pubDate>2009-11-20 20:36:46</pubDate>
<description><![CDATA[South Korean Foreign Minister Yu Myung-hwan said Friday the government will not renegotiate with the United states on the free trade agreement (FTA) between the two countries.       Yu made the comment while addressing the National Assembly, as a clarification to a remark President Lee Myung-bak made at a joint press conference with visiting U.S. President Barack Obama on Thursday, saying that he sought an opportunity to re-discuss the opening of his country's automobile market with the United ...]]></description>
<full-text><![CDATA[South Korean Foreign Minister Yu Myung-hwan said Friday the government will not renegotiate with the United states on the free trade agreement (FTA) between the two countries.       Yu made the comment while addressing the National Assembly, as a clarification to a remark President Lee Myung-bak made at a joint press conference with visiting U.S. President Barack Obama on Thursday, saying that he sought an opportunity to re-discuss the opening of his country's automobile market with the United States.       Lee said "such a view came as I had sufficient communication with President Obama, and I want to push for it in an aggressive manner as it would benefit both of the countries."       With respect to Lee's remarks, South Korean media were heated as it could imply that South Korea may go through negotiation process with the United States again.       Yu said the president was not referring to a renegotiation but was taking an offensive stance on the United States for raising issues with the FTA's auto provisions.       He stressed that there will be no renegotiations, even if Washington requests.       Meanwhile, the country's presidential office Cheong Wa Dae said on Friday there will be no any changes to the South Korea-U.S. FTA.       A Cheong Wa Dae official told Yonhap News Agency that the president's remark was not referring to modifying the agreement, but means it could be slightly fine-tuned, such as adding some content to the annex.       Another official in charge of diplomatic and security affairs said "If we rewrite the document, that is a renegotiation. It is the government's policy that we will not change the agreement."       There is no precedent for modifying a FTA that have been already reached between two countries, he noted.       If Seoul has to discuss the issue in the auto sector with the United States, Seoul will also propose additional discussions on the agricultural sector which suffers great pressure from public opinion in the country, he added.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea eyes naked bond short-selling ]]></title>
<news_id>6819645</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819645.html ]]></link>
<pubDate>2009-11-20 20:36:18</pubDate>
<description><![CDATA[South Korea's financial watchdog said Friday it plans to allow naked bond short-selling in a bid to attract foreign bond buying.       "The watchdog plans to prepare guidelines for banks' bond short-selling after discussing the matter with related authorities," Kim Jong-chang, governor at the Financial Supervisory Service (FSS), said in a revised statement carrying his speech at a forum.       South Korea's financial watchdog has restricted lenders from so-called naked short-selling, in whic ...]]></description>
<full-text><![CDATA[South Korea's financial watchdog said Friday it plans to allow naked bond short-selling in a bid to attract foreign bond buying.       "The watchdog plans to prepare guidelines for banks' bond short-selling after discussing the matter with related authorities," Kim Jong-chang, governor at the Financial Supervisory Service (FSS), said in a revised statement carrying his speech at a forum.       South Korea's financial watchdog has restricted lenders from so-called naked short-selling, in which investors unload bonds they do not own when a price fall is expected, for risk management purposes.       Local lenders' covered short-selling, or sales of borrowed bonds, have been admitted.       Although the move may raise volatility in the local bond market, it would further vitalize the market by expanding trading volume, Kim said.       The FSS, which earlier said in its initial statement that it would announce new guidelines in the beginning of 2010, later dropped the specific remarks due to disputes with related authorities.       According to the FSS, South Korea's outstanding bond issuance reached about 1,200 trillion won (1.04 trillion U.S. dollars) as of the end of October with trading volume likely to top 2,500 trillion won this year (2.16 trillion U.S. dollars).       Foreign investors' holding of local bonds, in the meantime, accounted for 5.5 percent of the outstanding bond issuance as of end-October, the FSS added.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea eyes naked bond short-selling ]]></title>
<news_id>6819645</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819645.html ]]></link>
<pubDate>2009-11-20 20:36:18</pubDate>
<description><![CDATA[South Korea's financial watchdog said Friday it plans to allow naked bond short-selling in a bid to attract foreign bond buying.       "The watchdog plans to prepare guidelines for banks' bond short-selling after discussing the matter with related authorities," Kim Jong-chang, governor at the Financial Supervisory Service (FSS), said in a revised statement carrying his speech at a forum.       South Korea's financial watchdog has restricted lenders from so-called naked short-selling, in whic ...]]></description>
<full-text><![CDATA[South Korea's financial watchdog said Friday it plans to allow naked bond short-selling in a bid to attract foreign bond buying.       "The watchdog plans to prepare guidelines for banks' bond short-selling after discussing the matter with related authorities," Kim Jong-chang, governor at the Financial Supervisory Service (FSS), said in a revised statement carrying his speech at a forum.       South Korea's financial watchdog has restricted lenders from so-called naked short-selling, in which investors unload bonds they do not own when a price fall is expected, for risk management purposes.       Local lenders' covered short-selling, or sales of borrowed bonds, have been admitted.       Although the move may raise volatility in the local bond market, it would further vitalize the market by expanding trading volume, Kim said.       The FSS, which earlier said in its initial statement that it would announce new guidelines in the beginning of 2010, later dropped the specific remarks due to disputes with related authorities.       According to the FSS, South Korea's outstanding bond issuance reached about 1,200 trillion won (1.04 trillion U.S. dollars) as of the end of October with trading volume likely to top 2,500 trillion won this year (2.16 trillion U.S. dollars).       Foreign investors' holding of local bonds, in the meantime, accounted for 5.5 percent of the outstanding bond issuance as of end-October, the FSS added.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China Enterprises Index falls 1.05%]]></title>
<news_id>6819644</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6819644.html ]]></link>
<pubDate>2009-11-20 20:35:02</pubDate>
<description><![CDATA[The Hang Seng China Enterprises Index on the Hong Kong Stock Exchange fell 141.32 points, or 1.05 percent, to close Friday's trading at 13,329.66.       The H-shares index, initiated in August 1994 and readjusted on Sept. 7, 2009, tracks the overall performance of 44 major Chinese mainland state-owned enterprises listed on the Hong Kong Stock Exchange.       The Hang Seng China H-Financials Index dropped 199.68 points, or 1.07 percent, to close at 18,510.51.       The H-Financials Index, i ...]]></description>
<full-text><![CDATA[The Hang Seng China Enterprises Index on the Hong Kong Stock Exchange fell 141.32 points, or 1.05 percent, to close Friday's trading at 13,329.66.       The H-shares index, initiated in August 1994 and readjusted on Sept. 7, 2009, tracks the overall performance of 44 major Chinese mainland state-owned enterprises listed on the Hong Kong Stock Exchange.       The Hang Seng China H-Financials Index dropped 199.68 points, or 1.07 percent, to close at 18,510.51.       The H-Financials Index, initiated on Nov. 27, 2006, readjusted on Sept. 10, 2007, tracks the performance of nine major banks and insurers of the Chinese mainland.       The Hang Seng Mainland Composite Index went down 37.06 points, or 0.88 percent, to close at 4,159.36.       Introduced on Oct. 3, 2001 with the latest readjustment effective on March 9, 2009, the Hang Seng Mainland Composite Index gauges the performance of 132 Hong Kong-listed companies with principal places of business in Hong Kong and the Chinese mainland.       The Hang Seng China-Affiliated Corporations Index moved down 30.03 points, or 0.72 percent, to close at 4,133.47.       The index tracks the performance of 34 locally listed companies with a significant equity interest held by entities in the Chinese mainland.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[ChiNext stock index down]]></title>
<news_id>6819643</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6819643.html ]]></link>
<pubDate>2009-11-20 20:34:17</pubDate>
<description><![CDATA[The ChiNext Index fell on Friday as 19 out of the 28 shares at China's start-up board for small and medium-sized enterprises were down.       The board, which is based in Shenzhen and started trading on Oct. 30, 2009, is tailored to the needs of enterprises engaged in independent innovation and other enterprises with great growth potential.   &$<i>&$Source: Xinhua&$</i>&$                                                                                                                           ...]]></description>
<full-text><![CDATA[The ChiNext Index fell on Friday as 19 out of the 28 shares at China's start-up board for small and medium-sized enterprises were down.       The board, which is based in Shenzhen and started trading on Oct. 30, 2009, is tailored to the needs of enterprises engaged in independent innovation and other enterprises with great growth potential.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Hong Kong stocks close 0.87% lower]]></title>
<news_id>6819642</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6819642.html ]]></link>
<pubDate>2009-11-20 20:33:38</pubDate>
<description><![CDATA[Hong Kong shares closed down 0.87 percent, or 195.96 points at 22,447.20 on Friday, falling for a fourth day tracking losses on the Wall Street.       The benchmark Hang Seng Index opened lower at 22,486.56, falling 0.69 percent, or 156.60 points. It fluctuated between 22,584.55 and 22,376.36 during the day's trading. The turnover moved down to 60.50 billion HK dollars (about 7.81 billion U.S. dollars) from Thursday's 69.28 billion HK dollars (about 8.95 billion U.S. dollars).       The Chin ...]]></description>
<full-text><![CDATA[Hong Kong shares closed down 0.87 percent, or 195.96 points at 22,447.20 on Friday, falling for a fourth day tracking losses on the Wall Street.       The benchmark Hang Seng Index opened lower at 22,486.56, falling 0.69 percent, or 156.60 points. It fluctuated between 22,584.55 and 22,376.36 during the day's trading. The turnover moved down to 60.50 billion HK dollars (about 7.81 billion U.S. dollars) from Thursday's 69.28 billion HK dollars (about 8.95 billion U.S. dollars).       The China Enterprises Index slid 141.31 points, or 1.05 percent, to close at 13,329.67 points.       Three of the four major stock categories lost ground. The finance sub-index dropped 0.59 percent, the properties shed 1.18 percent, and the commerce and industry fell 1.19 percent. Only the utilities sub-index moved up 0.02 percent.       Banking giant and market heavyweight HSBC dipped 0.52 percent to close at 95.05 HK dollars, while its local unit Hang Seng Bank gained 0.61 percent at 114.90 HK dollars. HKEx, the sole exchange operator in Hong Kong, rose 0.50 percent to 141.70 HK dollars.       China Mobile, by far the largest mobile carrier in China's mainland, fell 1.03 percent to 76.65 HK dollars, while smaller rival China Unicom rose 0.19 percent to 10.50 HK dollars.       The mainland banking shares all finished lower, with ICBC leading the decline by 1.46 percent to close at 6.75 HK dollars. Bank of China lost 0.21 percent, China Construction Bank lost 0.70 percent, and Bank of Communications, 1.34 percent.       The oil shares were also losers. PetroChina moved down 1.19 percent, Sinopec edged down 2.34 percent and offshore oil producer was unchanged.       As for local developers, Cheung Kong, the flagship of Hong Kong's richest man Li Ka-shing, fell 0.77 percent to 96.70 HK dollars. Henderson Land finished 1.54 percent lower at 54.20 HK dollars. SHK Properties moved down 1.54 percent to 115.40 HK dollars. Sino Land ended 0.71 percent higher at 14.28 HK dollars.       Consumer product exporter Li & Fung dropped 3.99 percent to close at 32.50 HK dollars. (7.742 HK dollars = 1 U.S. dollar)   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Pigs get ID chips in central China ]]></title>
<news_id>6819641</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6819641.html ]]></link>
<pubDate>2009-11-20 20:58:12</pubDate>
<description><![CDATA[Pigs in southwest China from Friday began having two identity chips fixed on their back legs detailing where they were butchered, examined and sold.       Forty-five markets in downtown Chengdu, capital of Sichuan Province, have started to sell pork with ID chips, said a spokesman with the city's food and drug administration on Friday.       Two plastic rings containing the chips with information on where the pig was bred are fixed around the pig's hinder limbs before it is sold to a slaught ...]]></description>
<full-text><![CDATA[Pigs in southwest China from Friday began having two identity chips fixed on their back legs detailing where they were butchered, examined and sold.       Forty-five markets in downtown Chengdu, capital of Sichuan Province, have started to sell pork with ID chips, said a spokesman with the city's food and drug administration on Friday.       Two plastic rings containing the chips with information on where the pig was bred are fixed around the pig's hinder limbs before it is sold to a slaughterhouse.       Additional information is added to the chips as the pig gets slaughtered, inspected and sold to the end market.       The chip is scanned when each piece of pork is sold so that the customer can have a receipt with a code that links to an entry that records the slaughter, inspection and sale of the pork in a city database.       Every seller is required to scan the chip of meat they purchase so that the system logs how much pork they have in stock. Meanwhile, their electronic scales are linked to the market system to keep track of how much pork they sell.       "The amount of pork sold must not exceed that of pork purchased. That way we make sure no pork comes from illegal channels," the spokesman said.       The customer could inquire about the pork by phone, text message or on the administration's website to ensure it was safely bred, butchered, stored and transported as well as properly examined.       Pork seller Wu Bo welcomed the policy. "Customers can now buy without hesitation. With the chips, they can eat without worry," Wu said. "If anything goes wrong with the quality, we know who to blame."       The city government and seller pays for every identity chip, which costs two yuan (29 U.S. cents), the spokesman said. "The cost is too small to affect the pork price."       The chips were tightly fixed and were almost impossible to takeoff without breaking them, the spokesman said in response to questions on whether the identity chips can be swapped.       Each of the pork pigs sold in Chengdu will get ID chips by the end of next April, the spokesman added.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China's economy to expand 9.4% in 2010, report forecasts]]></title>
<news_id>6819640</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6819640.html ]]></link>
<pubDate>2009-11-20 20:31:01</pubDate>
<description><![CDATA[China's economy is forecast to grow more than 9 percent next year on the growth of domestic consumption and improving exports, said a report released Friday by the Beijing-based Renmin University of China.       The country's retail sales are predicted to increase 18.2 percent year on year in 2010, boosted by domestic consumption and income growth, according to the report.       China's retail sales in October rose 16.2 percent year on year to 1.17 trillion yuan (171.3 billion U.S. dollars), ...]]></description>
<full-text><![CDATA[China's economy is forecast to grow more than 9 percent next year on the growth of domestic consumption and improving exports, said a report released Friday by the Beijing-based Renmin University of China.       The country's retail sales are predicted to increase 18.2 percent year on year in 2010, boosted by domestic consumption and income growth, according to the report.       China's retail sales in October rose 16.2 percent year on year to 1.17 trillion yuan (171.3 billion U.S. dollars), according to the National Bureau of Statistics (NBS).       The world economy would be on the revival track next year, but a solid recovery was not an easy task, said Liu Yuanchun, vice president of the School of Economics of the university and the compiler of the report.       Liu predicted that China's exports would rise 13.3 percent and imports 12.2 percent in 2010.       China's exports dropped 13.8 percent year on year to 110.8 billion U.S. dollars last month, the smallest decrease in 10 months, while imports stood at 86.8 billion U.S. dollars, down 6.4percent from a year earlier.       He urged the government to step up efforts on low-rent apartment construction next year for urban dwellers.       The affordable housing program, approved in June, is aimed at providing accommodation for 7.47 million low-income urban households from 2009 to 2011.       The report predicted that the world's third largest economy would expand by 8.56 percent this year.       China's gross domestic product (GDP) expanded 7.7 percent year on year in the first three quarters, largely due to the massive stimulus package unveiled in November 2008.       The country's consumer price index (CPI), a main gauge of inflation, would dip 0.7 percent this year, according to the report.       China's CPI fell 0.5 percent year on year in October, said the NBS.       Other leading economists have also voiced optimism on China's economic prospects.       Fan Gang, director of the Beijing-based National Economic Research Institute of China Reform Foundation, predicted Thursday in Hong Kong that the Chinese economy could grow between 8 and 9 percent in 2010.       However, Fan warned that emerging markets were facing a risk of possible asset bubbles given the international excessive liquidity.       Qiao Hong, a China economist at Goldman Sachs, forecast last week in Beijing that China's economy would expand 11.9 percent year on year in 2010.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China's economy to expand 9.4% in 2010, report forecasts]]></title>
<news_id>6819640</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6819640.html ]]></link>
<pubDate>2009-11-20 20:31:01</pubDate>
<description><![CDATA[China's economy is forecast to grow more than 9 percent next year on the growth of domestic consumption and improving exports, said a report released Friday by the Beijing-based Renmin University of China.       The country's retail sales are predicted to increase 18.2 percent year on year in 2010, boosted by domestic consumption and income growth, according to the report.       China's retail sales in October rose 16.2 percent year on year to 1.17 trillion yuan (171.3 billion U.S. dollars), ...]]></description>
<full-text><![CDATA[China's economy is forecast to grow more than 9 percent next year on the growth of domestic consumption and improving exports, said a report released Friday by the Beijing-based Renmin University of China.       The country's retail sales are predicted to increase 18.2 percent year on year in 2010, boosted by domestic consumption and income growth, according to the report.       China's retail sales in October rose 16.2 percent year on year to 1.17 trillion yuan (171.3 billion U.S. dollars), according to the National Bureau of Statistics (NBS).       The world economy would be on the revival track next year, but a solid recovery was not an easy task, said Liu Yuanchun, vice president of the School of Economics of the university and the compiler of the report.       Liu predicted that China's exports would rise 13.3 percent and imports 12.2 percent in 2010.       China's exports dropped 13.8 percent year on year to 110.8 billion U.S. dollars last month, the smallest decrease in 10 months, while imports stood at 86.8 billion U.S. dollars, down 6.4percent from a year earlier.       He urged the government to step up efforts on low-rent apartment construction next year for urban dwellers.       The affordable housing program, approved in June, is aimed at providing accommodation for 7.47 million low-income urban households from 2009 to 2011.       The report predicted that the world's third largest economy would expand by 8.56 percent this year.       China's gross domestic product (GDP) expanded 7.7 percent year on year in the first three quarters, largely due to the massive stimulus package unveiled in November 2008.       The country's consumer price index (CPI), a main gauge of inflation, would dip 0.7 percent this year, according to the report.       China's CPI fell 0.5 percent year on year in October, said the NBS.       Other leading economists have also voiced optimism on China's economic prospects.       Fan Gang, director of the Beijing-based National Economic Research Institute of China Reform Foundation, predicted Thursday in Hong Kong that the Chinese economy could grow between 8 and 9 percent in 2010.       However, Fan warned that emerging markets were facing a risk of possible asset bubbles given the international excessive liquidity.       Qiao Hong, a China economist at Goldman Sachs, forecast last week in Beijing that China's economy would expand 11.9 percent year on year in 2010.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China outlines auto export strategy to maintain 20% growth in 2015]]></title>
<news_id>6819601</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6819601.html ]]></link>
<pubDate>2009-11-20 17:07:57</pubDate>
<description><![CDATA[    The Chinese government has outlined its auto export strategy for maintaining steady growth in the auto export industry. It is expected to achieve an annual 10 percent growth from 2009 to 2010 and a 20 percent growth in 2015 with total export value up to 8.5 million U.S. dollars. By 2020, Chinese auto exports will account for 10 percent of total international auto trade.  According to the latest data released by China Association of Automobile Manufacturers (CAAM), from January to October,  ...]]></description>
<full-text><![CDATA[    The Chinese government has outlined its auto export strategy for maintaining steady growth in the auto export industry. It is expected to achieve an annual 10 percent growth from 2009 to 2010 and a 20 percent growth in 2015 with total export value up to 8.5 million U.S. dollars. By 2020, Chinese auto exports will account for 10 percent of total international auto trade.  According to the latest data released by China Association of Automobile Manufacturers (CAAM), from January to October, China exported 248,600 automobiles, down 54.54 percent compared to same period last year. Auto exports still face challenges thanks to rapid growth of the domestic auto market.  China is the second largest auto producer in the world. The auto export and related industry have witnessed rapid growth in recent years. Annual auto exports increased 50 percent from 2001 to 2007 and profits reached 30.2 billion U.S. dollars in 2008. However, the international economic meltdown has lead to a significant downturn in the auto export industry.  &$<i>&$By People's Daily Online&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[United Airlines considers first plane order in more than a decade ]]></title>
<news_id>6819474</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819474.html ]]></link>
<pubDate>2009-11-20 15:52:42</pubDate>
<description><![CDATA[United Airlines, the third largest airline in the United States, is about to place its first aircraft order in more than a decade, airline sources said Thursday.   By the end of this year, United Airlines is expected to place a firm order for 25 long-range jets worth upward of 5 billion U.S. dollars at list price. The airline also wants options for 75 additional wide-body aircrafts that could be converted into order sat a later date.   "We are not working toward a specific time frame," said  ...]]></description>
<full-text><![CDATA[United Airlines, the third largest airline in the United States, is about to place its first aircraft order in more than a decade, airline sources said Thursday.   By the end of this year, United Airlines is expected to place a firm order for 25 long-range jets worth upward of 5 billion U.S. dollars at list price. The airline also wants options for 75 additional wide-body aircrafts that could be converted into order sat a later date.   "We are not working toward a specific time frame," said Jean Medina, the airline's spokeswoman. "We are working toward getting the right deal for the company."   According to a Chicago Tribune report, after sitting on the sidelines while other U.S. carriers placed orders in recent years, United Airlines is taking advantage of a buyer's market for jetliners.   Aside from U.S. Airways, Airbus has yet to land a U.S. airline customer for the A350, a largely composite jet that is due to enter the market in about five years.   With a United order, Boeing stands to gain a publicity boost. It has garnered only 13 Dreamliner orders this year, along with 83cancellations for the jet, which is more than two years behind schedule.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[United Airlines considers first plane order in more than a decade ]]></title>
<news_id>6819474</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819474.html ]]></link>
<pubDate>2009-11-20 15:52:42</pubDate>
<description><![CDATA[United Airlines, the third largest airline in the United States, is about to place its first aircraft order in more than a decade, airline sources said Thursday.   By the end of this year, United Airlines is expected to place a firm order for 25 long-range jets worth upward of 5 billion U.S. dollars at list price. The airline also wants options for 75 additional wide-body aircrafts that could be converted into order sat a later date.   "We are not working toward a specific time frame," said  ...]]></description>
<full-text><![CDATA[United Airlines, the third largest airline in the United States, is about to place its first aircraft order in more than a decade, airline sources said Thursday.   By the end of this year, United Airlines is expected to place a firm order for 25 long-range jets worth upward of 5 billion U.S. dollars at list price. The airline also wants options for 75 additional wide-body aircrafts that could be converted into order sat a later date.   "We are not working toward a specific time frame," said Jean Medina, the airline's spokeswoman. "We are working toward getting the right deal for the company."   According to a Chicago Tribune report, after sitting on the sidelines while other U.S. carriers placed orders in recent years, United Airlines is taking advantage of a buyer's market for jetliners.   Aside from U.S. Airways, Airbus has yet to land a U.S. airline customer for the A350, a largely composite jet that is due to enter the market in about five years.   With a United order, Boeing stands to gain a publicity boost. It has garnered only 13 Dreamliner orders this year, along with 83cancellations for the jet, which is more than two years behind schedule.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea to ease investment rules, foreign entry procedures ]]></title>
<news_id>6819472</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819472.html ]]></link>
<pubDate>2009-11-20 15:52:07</pubDate>
<description><![CDATA[South Korea plans to ease domestic investment rules and foreign entry procedures by 2020 in a bid to vitalize tourism, the nation's culture minister said Friday.   South Korean President Lee Myung-bak and Culture Minister Yu In-chon met on Friday to discuss ways to devise a plan to increase the number of overseas tourists and the amount of foreign investment.   As part of their effort, they decided to lower land lending prices by up to 30 percent for firms developing tourism-oriented facilit ...]]></description>
<full-text><![CDATA[South Korea plans to ease domestic investment rules and foreign entry procedures by 2020 in a bid to vitalize tourism, the nation's culture minister said Friday.   South Korean President Lee Myung-bak and Culture Minister Yu In-chon met on Friday to discuss ways to devise a plan to increase the number of overseas tourists and the amount of foreign investment.   As part of their effort, they decided to lower land lending prices by up to 30 percent for firms developing tourism-oriented facilities and give permits for new duty-free shops in the cities of Daegu and Yeosu, which plan to host international festivals, the culture ministry said.   According to Culture Minister Yu In-chon, new strategies are needed to keep up the increasing move in tourism and investment as the number of overseas travelers increased by 15 percent this year.   With the increased influx of foreign visitors, South Korea marked a 320 million-U.S. dollar profit in the tourism industry for the January-September period.   The most urgent task for the country, said President Lee, was to improve and develop its cultural and tourist assets, as well as its safety measures, citing the recent fire at a shooting range in Busan that took away 11 lives, including seven Japanese tourists.   The South Korean government is planning seven large cultural events, including the Korean Wave Festival and the Global Food and Tourism Festival as part of its 2010-2012 "Visit Korea" campaign.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea to ease investment rules, foreign entry procedures ]]></title>
<news_id>6819472</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819472.html ]]></link>
<pubDate>2009-11-20 15:52:07</pubDate>
<description><![CDATA[South Korea plans to ease domestic investment rules and foreign entry procedures by 2020 in a bid to vitalize tourism, the nation's culture minister said Friday.   South Korean President Lee Myung-bak and Culture Minister Yu In-chon met on Friday to discuss ways to devise a plan to increase the number of overseas tourists and the amount of foreign investment.   As part of their effort, they decided to lower land lending prices by up to 30 percent for firms developing tourism-oriented facilit ...]]></description>
<full-text><![CDATA[South Korea plans to ease domestic investment rules and foreign entry procedures by 2020 in a bid to vitalize tourism, the nation's culture minister said Friday.   South Korean President Lee Myung-bak and Culture Minister Yu In-chon met on Friday to discuss ways to devise a plan to increase the number of overseas tourists and the amount of foreign investment.   As part of their effort, they decided to lower land lending prices by up to 30 percent for firms developing tourism-oriented facilities and give permits for new duty-free shops in the cities of Daegu and Yeosu, which plan to host international festivals, the culture ministry said.   According to Culture Minister Yu In-chon, new strategies are needed to keep up the increasing move in tourism and investment as the number of overseas travelers increased by 15 percent this year.   With the increased influx of foreign visitors, South Korea marked a 320 million-U.S. dollar profit in the tourism industry for the January-September period.   The most urgent task for the country, said President Lee, was to improve and develop its cultural and tourist assets, as well as its safety measures, citing the recent fire at a shooting range in Busan that took away 11 lives, including seven Japanese tourists.   The South Korean government is planning seven large cultural events, including the Korean Wave Festival and the Global Food and Tourism Festival as part of its 2010-2012 "Visit Korea" campaign.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Nikkei closes 0.54% down to below 9,500 line ]]></title>
<news_id>6819469</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819469.html ]]></link>
<pubDate>2009-11-20 15:51:39</pubDate>
<description><![CDATA[Tokyo stocks closed mixed Friday with the key Nikkei index down 0.54 percent to below 9,500 for the first time in four months.   The benchmark Nikkei 225 Average shed 51.79 points to 9,497.68.The broader Topix index gained 1.00 point, or 0.12 percent, to 838.71.   Trading volume on the main section contracted to 2,125.56 million shares from 2,558.25 million Thursday.   On the First Section, advancing shares outnumbered declining ones 829 to 708, with 141 others remaining unchanged.   &$< ...]]></description>
<full-text><![CDATA[Tokyo stocks closed mixed Friday with the key Nikkei index down 0.54 percent to below 9,500 for the first time in four months.   The benchmark Nikkei 225 Average shed 51.79 points to 9,497.68.The broader Topix index gained 1.00 point, or 0.12 percent, to 838.71.   Trading volume on the main section contracted to 2,125.56 million shares from 2,558.25 million Thursday.   On the First Section, advancing shares outnumbered declining ones 829 to 708, with 141 others remaining unchanged.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Nikkei closes 0.54% down to below 9,500 line ]]></title>
<news_id>6819469</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819469.html ]]></link>
<pubDate>2009-11-20 15:51:39</pubDate>
<description><![CDATA[Tokyo stocks closed mixed Friday with the key Nikkei index down 0.54 percent to below 9,500 for the first time in four months.   The benchmark Nikkei 225 Average shed 51.79 points to 9,497.68.The broader Topix index gained 1.00 point, or 0.12 percent, to 838.71.   Trading volume on the main section contracted to 2,125.56 million shares from 2,558.25 million Thursday.   On the First Section, advancing shares outnumbered declining ones 829 to 708, with 141 others remaining unchanged.   &$< ...]]></description>
<full-text><![CDATA[Tokyo stocks closed mixed Friday with the key Nikkei index down 0.54 percent to below 9,500 for the first time in four months.   The benchmark Nikkei 225 Average shed 51.79 points to 9,497.68.The broader Topix index gained 1.00 point, or 0.12 percent, to 838.71.   Trading volume on the main section contracted to 2,125.56 million shares from 2,558.25 million Thursday.   On the First Section, advancing shares outnumbered declining ones 829 to 708, with 141 others remaining unchanged.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Bank of Japan holds key rate unchanged at 0.1%　　 ]]></title>
<news_id>6819468</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819468.html ]]></link>
<pubDate>2009-11-20 15:51:15</pubDate>
<description><![CDATA[The Bank of Japan (BOJ) announced on Friday that it will hold the uncollateralized overnight interest rate unchanged at 0.1 percent, saying it will "provide steady support for (the nation's) economy to return to a sustainable growth path with price stability."   The uncollateralized overnight rate is the amount charged for lending between banks overnight, and has a large impact on the economy.   The BOJ was upbeat on the future, saying "Japan's economy is picking up mainly due to various pol ...]]></description>
<full-text><![CDATA[The Bank of Japan (BOJ) announced on Friday that it will hold the uncollateralized overnight interest rate unchanged at 0.1 percent, saying it will "provide steady support for (the nation's) economy to return to a sustainable growth path with price stability."   The uncollateralized overnight rate is the amount charged for lending between banks overnight, and has a large impact on the economy.   The BOJ was upbeat on the future, saying "Japan's economy is picking up mainly due to various policy measures taken at home and abroad, although the momentum of self-sustaining recovery in domestic private demand remains weak." In the previous month, the bank has said the economy was "starting to pick up."   It said it expects "the pace of improvement of the economy is likely to remain moderate until around the middle of fiscal 2010."   The mood from the government, however, was much less optimistic. Both Deputy Prime Minister Naoto Kan and Finance Minister HirohisaFujii admitted that the economy was in deflation, leading to concerns that the recovery may slide into reverse.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Bank of Japan holds key rate unchanged at 0.1%　　 ]]></title>
<news_id>6819468</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819468.html ]]></link>
<pubDate>2009-11-20 15:51:15</pubDate>
<description><![CDATA[The Bank of Japan (BOJ) announced on Friday that it will hold the uncollateralized overnight interest rate unchanged at 0.1 percent, saying it will "provide steady support for (the nation's) economy to return to a sustainable growth path with price stability."   The uncollateralized overnight rate is the amount charged for lending between banks overnight, and has a large impact on the economy.   The BOJ was upbeat on the future, saying "Japan's economy is picking up mainly due to various pol ...]]></description>
<full-text><![CDATA[The Bank of Japan (BOJ) announced on Friday that it will hold the uncollateralized overnight interest rate unchanged at 0.1 percent, saying it will "provide steady support for (the nation's) economy to return to a sustainable growth path with price stability."   The uncollateralized overnight rate is the amount charged for lending between banks overnight, and has a large impact on the economy.   The BOJ was upbeat on the future, saying "Japan's economy is picking up mainly due to various policy measures taken at home and abroad, although the momentum of self-sustaining recovery in domestic private demand remains weak." In the previous month, the bank has said the economy was "starting to pick up."   It said it expects "the pace of improvement of the economy is likely to remain moderate until around the middle of fiscal 2010."   The mood from the government, however, was much less optimistic. Both Deputy Prime Minister Naoto Kan and Finance Minister HirohisaFujii admitted that the economy was in deflation, leading to concerns that the recovery may slide into reverse.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Chinese shares dip, ending five straight rises ]]></title>
<news_id>6819467</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6819467.html ]]></link>
<pubDate>2009-11-20 15:50:40</pubDate>
<description><![CDATA[Chinese equities ended the five consecutive gains on Friday, with the benchmark Shanghai Composite Index down 0.37 percent, or 12.27 points, to close at 3,308.35.   The Shenzhen Component Index fell 0.03 percent, or 4.4 points, to close at 13,695.15.   Combined turnover jumped to 325.66 billion yuan (47.89 billion U.S. dollars) from 320.20 billion yuan on the previous trading day.   Nine out of the total 28 shares in the ChiNext market for start-up stocks were up.   &$<i>&$Source: Xinhua ...]]></description>
<full-text><![CDATA[Chinese equities ended the five consecutive gains on Friday, with the benchmark Shanghai Composite Index down 0.37 percent, or 12.27 points, to close at 3,308.35.   The Shenzhen Component Index fell 0.03 percent, or 4.4 points, to close at 13,695.15.   Combined turnover jumped to 325.66 billion yuan (47.89 billion U.S. dollars) from 320.20 billion yuan on the previous trading day.   Nine out of the total 28 shares in the ChiNext market for start-up stocks were up.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[ZTE to boost advance researches to tap high-end markets ]]></title>
<news_id>6819466</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6819466.html ]]></link>
<pubDate>2009-11-20 15:49:57</pubDate>
<description><![CDATA[China's telecom equipment and device manufacturer ZTE Corporation plans to set up a new department tasked with boosting medium to long-term forward looking researches, a senior manager said in a recent interview with Xinhua.   The move was in line with the change in ZTE's status "from largely a follower-competitor in the international market to an industry leader," Vice President for Wireless Technology and Strategy Donglin Shen said.   It is also expected to help meet the needs for enhanced ...]]></description>
<full-text><![CDATA[China's telecom equipment and device manufacturer ZTE Corporation plans to set up a new department tasked with boosting medium to long-term forward looking researches, a senior manager said in a recent interview with Xinhua.   The move was in line with the change in ZTE's status "from largely a follower-competitor in the international market to an industry leader," Vice President for Wireless Technology and Strategy Donglin Shen said.   It is also expected to help meet the needs for enhanced communication in exploring the developed markets like the United States, he added.   The company currently has a department for advance researches, but it has been mainly tasked with short-term advance researches. The planned new department, in comparison, will carry out forward-looking studies on medium and long-term trends.   Established in the southern Chinese city of Shenzhen, ZTE has quickly grown over the years to become one of the leading suppliers of telecom network equipment, handsets and provider of solutions and services worldwide, particularly in the developing markets. The private-owned company was listed in Shenzhen in 1997 and in Hong Kong in 2004.   The company boosts an annual revenue of 44.3 billion yuan (6.5 billion U.S. dollars) in 2008, with about 60 percent contributed by its overseas operations.   The company has been trying to establish itself as an international brand. It is one of the market leaders in the emerging markets and some fields, but a runner-up generally in the developed markets, including the United States and Europe.   More resources will be devoted to advance researches, Shen said.   Rising Chinese mainland players in the telecom industry like ZTE are behind established leaders headquartered in the developed countries in terms of the technological base, but enjoy advantages in costs of engineering, research and development, and ability to provide quick customized products and services.   The Chinese firms still have weaknesses in communication with customers - a must in the developed markets -- so as to know what they want. Their advance researches were behind established industry leaders, too, Shen said.   Nevertheless, the Chinese mainland players enjoy promising prospects, and they have been growing as competitors dropped out amid the international financial crisis.   They might have better chances with the deployment of the 3G and 4G networks, said Shen, who has been based in North America and previously worked for a local firm.   Shen said he expected ZTE to be one of the established leading brands in five years from now, and a definite leader in the industry in ten years.   The handset manufacturing operations of ZTE have been expandingrapidly over the past two years. The line of mobile phones it offered now cover basic phones, feature phones, 3G phones and the state-of-the-art smart phones.   Shen showed a customized phone ordered by a Spanish carrier that carries the logo on the back cover of the handset. The company will next roll out a smart phone using the Android operating system to gain a larger share of the high-end market, he said.   Shen said ZTE was now mainly providing customized handsets for mobile carriers worldwide, and with the rise of ZTE, more and more partner carriers have agreed to carry the manufacturer's logo, typically on the back&amp ]]></full-text>
</item>
<item>
<title><![CDATA[China's oil producer signs agreements with Sudan on refinery expansion, asset swap ]]></title>
<news_id>6819465</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6819465.html ]]></link>
<pubDate>2009-11-20 15:49:24</pubDate>
<description><![CDATA[China National Petroleum Corporation (CNPC), China's biggest oil and gas producer, has signed agreements with Sudan to expand a refinery and swap oil production assets. according to a statement on the company's website Friday.   The refinery, based in Khartoum, in which CNPC and Sudan each have equal stakes, would undergo a second expansion, but the statement did not give details.   The refinery was established in 1997 and began production three years later with a designed annual processing  ...]]></description>
<full-text><![CDATA[China National Petroleum Corporation (CNPC), China's biggest oil and gas producer, has signed agreements with Sudan to expand a refinery and swap oil production assets. according to a statement on the company's website Friday.   The refinery, based in Khartoum, in which CNPC and Sudan each have equal stakes, would undergo a second expansion, but the statement did not give details.   The refinery was established in 1997 and began production three years later with a designed annual processing capacity of 2.5 million tonnes. It was expanded in 2006. It processes annually 5 million tonnes of oil, and supplies 80 percent of the refined oil in Sudan.   CNPC would partially swap a shareholding in Block 6 with Malaysia's Petroliam Nasional Bhd's Block 5A in Sudan, according to the statement, without giving details.   The company also announced it had signed an agreement with the Sudanese government on advance payment for crude oil supplies.   CNPC has eight oil projects in Sudan, covering areas such as geophysical prospecting, well drilling, construction, and pipelines.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Millions of SMEs get access to free information services]]></title>
<news_id>6819222</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/6819222.html ]]></link>
<pubDate>2009-11-20 15:37:19</pubDate>
<description><![CDATA[Chinese Company Information Technology Promotion Project was launched in Beijing Nov. 19, 2009. In the following two years, the project will hold over 10,000 activities in 100 cities nationwide, reaching out to millions of small and medium sized enterprises (SMEs) with free 3G technology training, website building and hosting services.  According to SME Cooperation Center, Ministry of Industry and Information Technology (MIIT), although China has more than 42 million SMEs, accounting for over  ...]]></description>
<full-text><![CDATA[Chinese Company Information Technology Promotion Project was launched in Beijing Nov. 19, 2009. In the following two years, the project will hold over 10,000 activities in 100 cities nationwide, reaching out to millions of small and medium sized enterprises (SMEs) with free 3G technology training, website building and hosting services.  According to SME Cooperation Center, Ministry of Industry and Information Technology (MIIT), although China has more than 42 million SMEs, accounting for over 99 percent of the country's enterprises, less than 5 percent of them make good use of information services.  The project aims to provide SMEs with Internet services, especially a 3G commercial platform and help reduce management costs. Li Yan, president of Beijing Emay Technology Co. Ltd, said that the Internet technology platform and national extension network have been established. Qualified SMEs can access free mobile Internet technology, website building platform and website hosting services.  &$<i>&$By People's Daily Online&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[EU economy out of recession, but recovery slow ]]></title>
<news_id>6819196</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6819196.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The European Union (EU) and eurozone economy returned to growth in the third quarter of this year, joining the United States and Japan in climbing out of recession.   It is additional good news for the world economy, which plunged into recession more than one year ago.   In its latest report released last week, the EU's statistics office Eurostat said its primary estimates indicate the gross domestic product (GDP) in the eurozone increased by 0.4 percent while the GDP in 27 EU countries gain ...]]></description>
<full-text><![CDATA[The European Union (EU) and eurozone economy returned to growth in the third quarter of this year, joining the United States and Japan in climbing out of recession.   It is additional good news for the world economy, which plunged into recession more than one year ago.   In its latest report released last week, the EU's statistics office Eurostat said its primary estimates indicate the gross domestic product (GDP) in the eurozone increased by 0.4 percent while the GDP in 27 EU countries gained by 0.2 percent in the third quarter.   According to the report, Germany's economy grew by 0.7 percent and France's expanded by 0.3 percent in the three months following weak growth in the previous quarter.   However, the economic increase was not as positive as the 0.6 percent that most economists had predicted for the eurozone. The reason the growth in the bloc's major economies fell short of forecasts was largely due to weak household spending.   Still, the third-quarter rise in eurozone output was the first in six quarters and brought Europe's sharpest recession since World War II to an end.   The return to growth has been hard-won. Since the meeting of leaders from the G20 countries in Washington one year ago, the European countries, along with other major economics, adopted a series of economic stimulus measures.   The central banks in both the eurozone and Britain cut short-term interest rates to their historically lowest levels early this year and kept the rates unchanged until now.   They also worked out unconventional monetary policies to increase the direct money supply to the market through programs of asset purchase -- the so-called Quantitative Easing (QE).   The EU also introduced a 200-billion-euro (296 U.S. dollars) economic stimulus plan to pull the economy out of recession. That plan was followed by many other stimulus measures in the EU's member countries.   Massive economic stimulus plans with supportive monetary policies in Europe prevented a further economic decline after the EU economy suffered the sharpest downturn in the first three months of this year and also helped lead the EU economy to the road of recovery.   In the second quarter of this year, two major economies in the eurozone -- Germany and France -- returned to economic growth, though the recovery was weak. That growth, however, paved the way for the all-round recovery of the EU region in the third quarter.   Many analysts, though, predict that the EU economic recovery would be slow and sluggish.   The International Monetary Fund said in its latest World Economic Outlook released in October that the economic rebound in Europe was likely to be slow.   It predicted that the economy in the eurozone and Britain would contract by 4.2 percent and 4.4 percent respectively in 2009 and grow by 0.3 percent and 0.9 percent in the next year.   The IMF said the largely bank-based financial system would take time to fully resume its intermediating role, although financial market conditions in the region have improved, and tight credit conditions would limit private investment and spending.   Soaring unemployment could also hinder the pace of EU economic recovery.   The jobless rate in the eurozone and EU hit 10-year highs of 9.7 percent and 9.2 percent respectively in September&amp; ]]></full-text>
</item>
<item>
<title><![CDATA[EU economy out of recession, but recovery slow ]]></title>
<news_id>6819196</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6819196.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The European Union (EU) and eurozone economy returned to growth in the third quarter of this year, joining the United States and Japan in climbing out of recession.   It is additional good news for the world economy, which plunged into recession more than one year ago.   In its latest report released last week, the EU's statistics office Eurostat said its primary estimates indicate the gross domestic product (GDP) in the eurozone increased by 0.4 percent while the GDP in 27 EU countries gain ...]]></description>
<full-text><![CDATA[The European Union (EU) and eurozone economy returned to growth in the third quarter of this year, joining the United States and Japan in climbing out of recession.   It is additional good news for the world economy, which plunged into recession more than one year ago.   In its latest report released last week, the EU's statistics office Eurostat said its primary estimates indicate the gross domestic product (GDP) in the eurozone increased by 0.4 percent while the GDP in 27 EU countries gained by 0.2 percent in the third quarter.   According to the report, Germany's economy grew by 0.7 percent and France's expanded by 0.3 percent in the three months following weak growth in the previous quarter.   However, the economic increase was not as positive as the 0.6 percent that most economists had predicted for the eurozone. The reason the growth in the bloc's major economies fell short of forecasts was largely due to weak household spending.   Still, the third-quarter rise in eurozone output was the first in six quarters and brought Europe's sharpest recession since World War II to an end.   The return to growth has been hard-won. Since the meeting of leaders from the G20 countries in Washington one year ago, the European countries, along with other major economics, adopted a series of economic stimulus measures.   The central banks in both the eurozone and Britain cut short-term interest rates to their historically lowest levels early this year and kept the rates unchanged until now.   They also worked out unconventional monetary policies to increase the direct money supply to the market through programs of asset purchase -- the so-called Quantitative Easing (QE).   The EU also introduced a 200-billion-euro (296 U.S. dollars) economic stimulus plan to pull the economy out of recession. That plan was followed by many other stimulus measures in the EU's member countries.   Massive economic stimulus plans with supportive monetary policies in Europe prevented a further economic decline after the EU economy suffered the sharpest downturn in the first three months of this year and also helped lead the EU economy to the road of recovery.   In the second quarter of this year, two major economies in the eurozone -- Germany and France -- returned to economic growth, though the recovery was weak. That growth, however, paved the way for the all-round recovery of the EU region in the third quarter.   Many analysts, though, predict that the EU economic recovery would be slow and sluggish.   The International Monetary Fund said in its latest World Economic Outlook released in October that the economic rebound in Europe was likely to be slow.   It predicted that the economy in the eurozone and Britain would contract by 4.2 percent and 4.4 percent respectively in 2009 and grow by 0.3 percent and 0.9 percent in the next year.   The IMF said the largely bank-based financial system would take time to fully resume its intermediating role, although financial market conditions in the region have improved, and tight credit conditions would limit private investment and spending.   Soaring unemployment could also hinder the pace of EU economic recovery.   The jobless rate in the eurozone and EU hit 10-year highs of 9.7 percent and 9.2 percent respectively in September&amp; ]]></full-text>
</item>
<item>
<title><![CDATA[Spain's economy to shrink in 2009, 2010 ]]></title>
<news_id>6819195</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6819195.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[Spain's economy will shrink in both 2009 and 2010, and make a minor recovery in 2011, the Paris-based economic adviser Organization for Economic Cooperation and Development (OECD) said on Thursday.   According to the OECD's semi-annual report, Spain will see an economic contraction of 3.6 percent in 2009 and 0.3 percent in 2010 before a weak rebound by 0.9 percent in 2011.   The OECD also forecasted that Spain's unemployment rate would top other OECD member countries in 2010, hitting 19.3 pe ...]]></description>
<full-text><![CDATA[Spain's economy will shrink in both 2009 and 2010, and make a minor recovery in 2011, the Paris-based economic adviser Organization for Economic Cooperation and Development (OECD) said on Thursday.   According to the OECD's semi-annual report, Spain will see an economic contraction of 3.6 percent in 2009 and 0.3 percent in 2010 before a weak rebound by 0.9 percent in 2011.   The OECD also forecasted that Spain's unemployment rate would top other OECD member countries in 2010, hitting 19.3 percent from18.1 percent in 2009.   Spanish Economy Minister Elena Salgado said that the employment condition would be worse in 2010, but the worst macroeconomic crisis had already passed.   The OECD's forecasts, similar to those given by the Spanish government, updated the figures presented by the European Commission and the International Monetary Fund.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Spain's economy to shrink in 2009, 2010 ]]></title>
<news_id>6819195</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6819195.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[Spain's economy will shrink in both 2009 and 2010, and make a minor recovery in 2011, the Paris-based economic adviser Organization for Economic Cooperation and Development (OECD) said on Thursday.   According to the OECD's semi-annual report, Spain will see an economic contraction of 3.6 percent in 2009 and 0.3 percent in 2010 before a weak rebound by 0.9 percent in 2011.   The OECD also forecasted that Spain's unemployment rate would top other OECD member countries in 2010, hitting 19.3 pe ...]]></description>
<full-text><![CDATA[Spain's economy will shrink in both 2009 and 2010, and make a minor recovery in 2011, the Paris-based economic adviser Organization for Economic Cooperation and Development (OECD) said on Thursday.   According to the OECD's semi-annual report, Spain will see an economic contraction of 3.6 percent in 2009 and 0.3 percent in 2010 before a weak rebound by 0.9 percent in 2011.   The OECD also forecasted that Spain's unemployment rate would top other OECD member countries in 2010, hitting 19.3 percent from18.1 percent in 2009.   Spanish Economy Minister Elena Salgado said that the employment condition would be worse in 2010, but the worst macroeconomic crisis had already passed.   The OECD's forecasts, similar to those given by the Spanish government, updated the figures presented by the European Commission and the International Monetary Fund.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[OECD: Brazil's fiscal deficit to reach worrying levels in 2010 ]]></title>
<news_id>6819193</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6819193.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The Organization for Economic Co-operation and Development (OECD) said Thursday that the tax cuts determined by the Brazilian government to handle the international financial crisis effects caused a higher fiscal deficit in the country, which will reach potentially worrying levels in 2010.   According to OECD, Brazil's fiscal deficit will jump from 2 percent of the GDP in 2009 to 3.5 percent next year. The institution recommended a gradual decrease in the fiscal stimuli in 2010, in order to re ...]]></description>
<full-text><![CDATA[The Organization for Economic Co-operation and Development (OECD) said Thursday that the tax cuts determined by the Brazilian government to handle the international financial crisis effects caused a higher fiscal deficit in the country, which will reach potentially worrying levels in 2010.   According to OECD, Brazil's fiscal deficit will jump from 2 percent of the GDP in 2009 to 3.5 percent next year. The institution recommended a gradual decrease in the fiscal stimuli in 2010, in order to recover some of the resources.   OECD also projected that Brazil's GDP will register zero growth in 2009, due to the crisis, but will have a 4.8 percent expansion in 2010, due to a sharp increase in the domestic market's demand. In 2011, the country is expected to grow 4.5 percent.   The institution also stated that Brazil's inflation rate will remain between 4 percent and 4.5 percent both in 2009 and 2010. The Brazilian government set for both years an inflation target of4.5 percent, with a 2 percentage point tolerance.   OECD has released projections for other countries as well: in 2010, Mexico is expected to recover from its recession and expand 2.7 percent. Chile is expected to grow 4.1 percent next year, while China is expected to grow 10 percent, and India to grow over7 percent. The developed countries are expected to grow 1.9 percent in 2010.   OECD gathers the 30 most industrialized countries in the world. The only Latin American member of the organization is Mexico, but both Chile and Brazil are candidates to join the institution.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[OECD: Brazil's fiscal deficit to reach worrying levels in 2010 ]]></title>
<news_id>6819193</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6819193.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The Organization for Economic Co-operation and Development (OECD) said Thursday that the tax cuts determined by the Brazilian government to handle the international financial crisis effects caused a higher fiscal deficit in the country, which will reach potentially worrying levels in 2010.   According to OECD, Brazil's fiscal deficit will jump from 2 percent of the GDP in 2009 to 3.5 percent next year. The institution recommended a gradual decrease in the fiscal stimuli in 2010, in order to re ...]]></description>
<full-text><![CDATA[The Organization for Economic Co-operation and Development (OECD) said Thursday that the tax cuts determined by the Brazilian government to handle the international financial crisis effects caused a higher fiscal deficit in the country, which will reach potentially worrying levels in 2010.   According to OECD, Brazil's fiscal deficit will jump from 2 percent of the GDP in 2009 to 3.5 percent next year. The institution recommended a gradual decrease in the fiscal stimuli in 2010, in order to recover some of the resources.   OECD also projected that Brazil's GDP will register zero growth in 2009, due to the crisis, but will have a 4.8 percent expansion in 2010, due to a sharp increase in the domestic market's demand. In 2011, the country is expected to grow 4.5 percent.   The institution also stated that Brazil's inflation rate will remain between 4 percent and 4.5 percent both in 2009 and 2010. The Brazilian government set for both years an inflation target of4.5 percent, with a 2 percentage point tolerance.   OECD has released projections for other countries as well: in 2010, Mexico is expected to recover from its recession and expand 2.7 percent. Chile is expected to grow 4.1 percent next year, while China is expected to grow 10 percent, and India to grow over7 percent. The developed countries are expected to grow 1.9 percent in 2010.   OECD gathers the 30 most industrialized countries in the world. The only Latin American member of the organization is Mexico, but both Chile and Brazil are candidates to join the institution.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Unemployment rate hits new high in 25 yrs in Illinois, U.S. in October ]]></title>
<news_id>6819192</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819192.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The unemployment rate in the U.S. state of Illinois rose from 10.5 to 11 percent in October, the highest level in the state in more than a quarter of a century, according to a report released by the Illinois Department of Employment Security (IDES) Thursday.   IDES reported that the figure, which was calculated after seasonal adjustment, hit a new high since August 1983. While the ratio in October 2008 was only 6.8 percent.   According to the report, the number of jobs fell by 3,200, making  ...]]></description>
<full-text><![CDATA[The unemployment rate in the U.S. state of Illinois rose from 10.5 to 11 percent in October, the highest level in the state in more than a quarter of a century, according to a report released by the Illinois Department of Employment Security (IDES) Thursday.   IDES reported that the figure, which was calculated after seasonal adjustment, hit a new high since August 1983. While the ratio in October 2008 was only 6.8 percent.   According to the report, the number of jobs fell by 3,200, making October the 21st straight month in which the number was dropping.   Meanwhile, the number of non-farm jobs in Illinois in October was just over 5.63 million, the lowest since September 1995, the report said.   October's unemployment rate in the United States as a whole increased 0.4 percent to 10.2 percent, the highest level since April 1993.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Unemployment rate hits new high in 25 yrs in Illinois, U.S. in October ]]></title>
<news_id>6819192</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819192.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The unemployment rate in the U.S. state of Illinois rose from 10.5 to 11 percent in October, the highest level in the state in more than a quarter of a century, according to a report released by the Illinois Department of Employment Security (IDES) Thursday.   IDES reported that the figure, which was calculated after seasonal adjustment, hit a new high since August 1983. While the ratio in October 2008 was only 6.8 percent.   According to the report, the number of jobs fell by 3,200, making  ...]]></description>
<full-text><![CDATA[The unemployment rate in the U.S. state of Illinois rose from 10.5 to 11 percent in October, the highest level in the state in more than a quarter of a century, according to a report released by the Illinois Department of Employment Security (IDES) Thursday.   IDES reported that the figure, which was calculated after seasonal adjustment, hit a new high since August 1983. While the ratio in October 2008 was only 6.8 percent.   According to the report, the number of jobs fell by 3,200, making October the 21st straight month in which the number was dropping.   Meanwhile, the number of non-farm jobs in Illinois in October was just over 5.63 million, the lowest since September 1995, the report said.   October's unemployment rate in the United States as a whole increased 0.4 percent to 10.2 percent, the highest level since April 1993.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Moody's: Brazil's GDP to grow 4.5% in 2010 ]]></title>
<news_id>6819191</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819191.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[Moody's Investors Service predicted on Thursday that Brazil's gross domestic product would register a growth rate of 0.5 percent to 1 percent in 2009 and 4.5 percent in 2010.   Brazil's economy showed stronger growth in the third quarter of 2009 and has become one of the leading forces in the global economic recovery, said the international rating agency, adding that Brazil currently has the best economic performance in South America.   In the second quarter of this year, Brazil registered a ...]]></description>
<full-text><![CDATA[Moody's Investors Service predicted on Thursday that Brazil's gross domestic product would register a growth rate of 0.5 percent to 1 percent in 2009 and 4.5 percent in 2010.   Brazil's economy showed stronger growth in the third quarter of 2009 and has become one of the leading forces in the global economic recovery, said the international rating agency, adding that Brazil currently has the best economic performance in South America.   In the second quarter of this year, Brazil registered a growth rate of 1.9 percent compared with a quarter earlier, after having reported negative results for two quarters when the financial crisis hit the country hard.   In late September, Moody's granted Brazil an investment grade, recognizing its economy's capacity to absorb shocks and recover from the financial turmoil.   The country's industrial production is gaining strength with the growth of domestic demand offsetting a decline in the international market, said the agency.   Moody's also noted that Brazil's inflation rate has so far remained below the 4.5 percent target set by the central bank for this year, and that the recently-established Tax over Financial Operations (IOF) over foreign investments did not stop capital from entering Brazil.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Moody's: Brazil's GDP to grow 4.5% in 2010 ]]></title>
<news_id>6819191</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819191.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[Moody's Investors Service predicted on Thursday that Brazil's gross domestic product would register a growth rate of 0.5 percent to 1 percent in 2009 and 4.5 percent in 2010.   Brazil's economy showed stronger growth in the third quarter of 2009 and has become one of the leading forces in the global economic recovery, said the international rating agency, adding that Brazil currently has the best economic performance in South America.   In the second quarter of this year, Brazil registered a ...]]></description>
<full-text><![CDATA[Moody's Investors Service predicted on Thursday that Brazil's gross domestic product would register a growth rate of 0.5 percent to 1 percent in 2009 and 4.5 percent in 2010.   Brazil's economy showed stronger growth in the third quarter of 2009 and has become one of the leading forces in the global economic recovery, said the international rating agency, adding that Brazil currently has the best economic performance in South America.   In the second quarter of this year, Brazil registered a growth rate of 1.9 percent compared with a quarter earlier, after having reported negative results for two quarters when the financial crisis hit the country hard.   In late September, Moody's granted Brazil an investment grade, recognizing its economy's capacity to absorb shocks and recover from the financial turmoil.   The country's industrial production is gaining strength with the growth of domestic demand offsetting a decline in the international market, said the agency.   Moody's also noted that Brazil's inflation rate has so far remained below the 4.5 percent target set by the central bank for this year, and that the recently-established Tax over Financial Operations (IOF) over foreign investments did not stop capital from entering Brazil.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[ECLAC: Nearly 200 mln poor in L. America in 2009 ]]></title>
<news_id>6819188</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819188.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The world economic crisis will make the population of Latin America's poor reach 189 million, the Economic Commission for Latin America and the Caribbean (ECLAC) said Thursday.   ECLAC on Thursday presented its report "Social Panorama of Latin America 2009," which predicts that poverty in the region will rise 1.1 percent compared with 2008.   ECLAC said that the number of poor will rise from 180 million in 2008 to 189 million in 2009, which represents 34.1 percent of the whole population.  ...]]></description>
<full-text><![CDATA[The world economic crisis will make the population of Latin America's poor reach 189 million, the Economic Commission for Latin America and the Caribbean (ECLAC) said Thursday.   ECLAC on Thursday presented its report "Social Panorama of Latin America 2009," which predicts that poverty in the region will rise 1.1 percent compared with 2008.   ECLAC said that the number of poor will rise from 180 million in 2008 to 189 million in 2009, which represents 34.1 percent of the whole population.   "We must replant all the social protection programs with a strategic vision of long term," ECLAC Executive Secretary Alicia Barena said.   The increase in poverty will delay the accomplishment of the United Nations Millennium Development Goals, which aim to eradicate extreme poverty and hunger by 2015.   ECLAC said Latin American governments must avoid fiscal irresponsibility, raise taxes progressively, redistribute social expenses and expand coverage of social benefits.   ECLAC also suggested reinforcing the public aid programs, which cover 100 million people in 17 countries of the region.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[ECLAC: Nearly 200 mln poor in L. America in 2009 ]]></title>
<news_id>6819188</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819188.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The world economic crisis will make the population of Latin America's poor reach 189 million, the Economic Commission for Latin America and the Caribbean (ECLAC) said Thursday.   ECLAC on Thursday presented its report "Social Panorama of Latin America 2009," which predicts that poverty in the region will rise 1.1 percent compared with 2008.   ECLAC said that the number of poor will rise from 180 million in 2008 to 189 million in 2009, which represents 34.1 percent of the whole population.  ...]]></description>
<full-text><![CDATA[The world economic crisis will make the population of Latin America's poor reach 189 million, the Economic Commission for Latin America and the Caribbean (ECLAC) said Thursday.   ECLAC on Thursday presented its report "Social Panorama of Latin America 2009," which predicts that poverty in the region will rise 1.1 percent compared with 2008.   ECLAC said that the number of poor will rise from 180 million in 2008 to 189 million in 2009, which represents 34.1 percent of the whole population.   "We must replant all the social protection programs with a strategic vision of long term," ECLAC Executive Secretary Alicia Barena said.   The increase in poverty will delay the accomplishment of the United Nations Millennium Development Goals, which aim to eradicate extreme poverty and hunger by 2015.   ECLAC said Latin American governments must avoid fiscal irresponsibility, raise taxes progressively, redistribute social expenses and expand coverage of social benefits.   ECLAC also suggested reinforcing the public aid programs, which cover 100 million people in 17 countries of the region.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[WTO allows Brazil to impose sanctions on U.S. over cotton trade ]]></title>
<news_id>6819186</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819186.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The World Trade Organization (WTO) decided on Thursday to allow Brazil to start retaliating upon the United Stated for illegal subsidies paid to U.S. cotton producers.   The authorization of the WTO's Dispute Settlement Body followed a preliminary decision made in late August, and allowed Brazil to start to retaliate upon the world's leading cotton exporter immediately.   However, the action will take some time to be executed, as the Brazilian government has not yet decided the volume and pr ...]]></description>
<full-text><![CDATA[The World Trade Organization (WTO) decided on Thursday to allow Brazil to start retaliating upon the United Stated for illegal subsidies paid to U.S. cotton producers.   The authorization of the WTO's Dispute Settlement Body followed a preliminary decision made in late August, and allowed Brazil to start to retaliate upon the world's leading cotton exporter immediately.   However, the action will take some time to be executed, as the Brazilian government has not yet decided the volume and products of the sanctions.   The products will be open to the choice by the Brazilian businessmen from a public list which includes 222 items until the end of November.   According to the Brazilian Foreign Trade Chamber's estimates, the sanctions, starting from the beginning of 2010, may reach 800 million U.S. dollars.   The WTO's decision represents the end of a decade-long dispute that Brazil first complained against the U.S. in 2002, alleging that the U.S. cotton subsidies caused damages to the Brazilian producers.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[WTO allows Brazil to impose sanctions on U.S. over cotton trade ]]></title>
<news_id>6819186</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819186.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The World Trade Organization (WTO) decided on Thursday to allow Brazil to start retaliating upon the United Stated for illegal subsidies paid to U.S. cotton producers.   The authorization of the WTO's Dispute Settlement Body followed a preliminary decision made in late August, and allowed Brazil to start to retaliate upon the world's leading cotton exporter immediately.   However, the action will take some time to be executed, as the Brazilian government has not yet decided the volume and pr ...]]></description>
<full-text><![CDATA[The World Trade Organization (WTO) decided on Thursday to allow Brazil to start retaliating upon the United Stated for illegal subsidies paid to U.S. cotton producers.   The authorization of the WTO's Dispute Settlement Body followed a preliminary decision made in late August, and allowed Brazil to start to retaliate upon the world's leading cotton exporter immediately.   However, the action will take some time to be executed, as the Brazilian government has not yet decided the volume and products of the sanctions.   The products will be open to the choice by the Brazilian businessmen from a public list which includes 222 items until the end of November.   According to the Brazilian Foreign Trade Chamber's estimates, the sanctions, starting from the beginning of 2010, may reach 800 million U.S. dollars.   The WTO's decision represents the end of a decade-long dispute that Brazil first complained against the U.S. in 2002, alleging that the U.S. cotton subsidies caused damages to the Brazilian producers.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[U.S. Treasury to sells warrant positions in public Dutch auctions ]]></title>
<news_id>6819183</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819183.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The U.S. Department of the Treasury announced its intention on Thursday to dispose of several warrant positions received in consideration for investments made under the Capital Purchase Program (CPP).   Over the next month, Treasury intends to conduct auctions to sell its warrant positions in JP Morgan Chase & Co., Capital One Financial Corporation, and TCF Financial Corporation, said the department in a statement.   "Each of these banks has fully repurchased Treasury's preferred stock inves ...]]></description>
<full-text><![CDATA[The U.S. Department of the Treasury announced its intention on Thursday to dispose of several warrant positions received in consideration for investments made under the Capital Purchase Program (CPP).   Over the next month, Treasury intends to conduct auctions to sell its warrant positions in JP Morgan Chase & Co., Capital One Financial Corporation, and TCF Financial Corporation, said the department in a statement.   "Each of these banks has fully repurchased Treasury's preferred stock investment," said the statement. "The warrant sales anticipated over the next month, if consummated in full, would represent Treasury's disposition of its remaining holdings in these companies."   The proceeds of these sales will provide an additional return to the American taxpayer from Treasury's investments in these banks beyond the dividend payments it received on the related preferred stock, said the U.S. government.   Treasury said it intends to sell the warrants through registered public offerings.   These offerings will be executed using a modified Dutch auction methodology that establishes a market price by allowing investors to submit bids at specified increments above a minimum price specified for each auction.   Treasury said that it might conduct similar auctions in the future for other warrant positions it holds in banks that have repaid CPP investments.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[U.S. Treasury to sells warrant positions in public Dutch auctions ]]></title>
<news_id>6819183</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819183.html ]]></link>
<pubDate>2009-11-20 15:37:20</pubDate>
<description><![CDATA[The U.S. Department of the Treasury announced its intention on Thursday to dispose of several warrant positions received in consideration for investments made under the Capital Purchase Program (CPP).   Over the next month, Treasury intends to conduct auctions to sell its warrant positions in JP Morgan Chase & Co., Capital One Financial Corporation, and TCF Financial Corporation, said the department in a statement.   "Each of these banks has fully repurchased Treasury's preferred stock inves ...]]></description>
<full-text><![CDATA[The U.S. Department of the Treasury announced its intention on Thursday to dispose of several warrant positions received in consideration for investments made under the Capital Purchase Program (CPP).   Over the next month, Treasury intends to conduct auctions to sell its warrant positions in JP Morgan Chase & Co., Capital One Financial Corporation, and TCF Financial Corporation, said the department in a statement.   "Each of these banks has fully repurchased Treasury's preferred stock investment," said the statement. "The warrant sales anticipated over the next month, if consummated in full, would represent Treasury's disposition of its remaining holdings in these companies."   The proceeds of these sales will provide an additional return to the American taxpayer from Treasury's investments in these banks beyond the dividend payments it received on the related preferred stock, said the U.S. government.   Treasury said it intends to sell the warrants through registered public offerings.   These offerings will be executed using a modified Dutch auction methodology that establishes a market price by allowing investors to submit bids at specified increments above a minimum price specified for each auction.   Treasury said that it might conduct similar auctions in the future for other warrant positions it holds in banks that have repaid CPP investments.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Dollar rises amid weak U.S. economic data ]]></title>
<news_id>6819181</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819181.html ]]></link>
<pubDate>2009-11-20 15:37:21</pubDate>
<description><![CDATA[The dollar rose against most major currencies on Thursday as some weak U.S. economic reports added to concerns about economic recovery.   The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.64 percent of all loans outstanding as of the end of the third quarter of 2009, the Mortgage Bankers Association reported on Thursday. It was the highest level since data collecting began in 1972.   The percentage of loans in the forec ...]]></description>
<full-text><![CDATA[The dollar rose against most major currencies on Thursday as some weak U.S. economic reports added to concerns about economic recovery.   The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.64 percent of all loans outstanding as of the end of the third quarter of 2009, the Mortgage Bankers Association reported on Thursday. It was the highest level since data collecting began in 1972.   The percentage of loans in the foreclosure process at the end of the third quarter was 4.47 percent, also breaking the record. The combined percentage of loans in foreclosure or at least one payment past due was 14.41 percent on a non-seasonally adjusted basis, a record-high for the ninth straight quarter.   Delinquency rates and foreclosure rates will continue to worsen before they improve due to high unemployment, the association said. A lot of potential foreclosure homes are coming into the market next year, pushing home prices downward.   Initial claims for unemployment insurance benefits were unchanged at 505,000 last week, according to the Labor Department. Four-week average initial claims and continuing claims both continued falling, showing that the labor market was improving slowly.   The Conference Board's Leading Economic Index rose 0.3 percent in October for the seventh straight month, an increase smaller than expected. The forward looking index suggested that economic activity will continue to grow over the next few months, at a slow pace though.   The euro bought 1.4919 dollars in late New York trading compared with 1.4940 dollars it bought late Wednesday. The pound fell to 1.6647 dollars from 1.6718 dollars.   The dollar rose to 1.0626 Canadian dollars from 1.0567 Canadian dollars, and rose to 1.0133 Swiss francs from 1.0114 Swiss francs. It fell to 89.01 Japanese yen from 89.48 Japanese yen.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Dollar rises amid weak U.S. economic data ]]></title>
<news_id>6819181</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819181.html ]]></link>
<pubDate>2009-11-20 15:37:21</pubDate>
<description><![CDATA[The dollar rose against most major currencies on Thursday as some weak U.S. economic reports added to concerns about economic recovery.   The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.64 percent of all loans outstanding as of the end of the third quarter of 2009, the Mortgage Bankers Association reported on Thursday. It was the highest level since data collecting began in 1972.   The percentage of loans in the forec ...]]></description>
<full-text><![CDATA[The dollar rose against most major currencies on Thursday as some weak U.S. economic reports added to concerns about economic recovery.   The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 9.64 percent of all loans outstanding as of the end of the third quarter of 2009, the Mortgage Bankers Association reported on Thursday. It was the highest level since data collecting began in 1972.   The percentage of loans in the foreclosure process at the end of the third quarter was 4.47 percent, also breaking the record. The combined percentage of loans in foreclosure or at least one payment past due was 14.41 percent on a non-seasonally adjusted basis, a record-high for the ninth straight quarter.   Delinquency rates and foreclosure rates will continue to worsen before they improve due to high unemployment, the association said. A lot of potential foreclosure homes are coming into the market next year, pushing home prices downward.   Initial claims for unemployment insurance benefits were unchanged at 505,000 last week, according to the Labor Department. Four-week average initial claims and continuing claims both continued falling, showing that the labor market was improving slowly.   The Conference Board's Leading Economic Index rose 0.3 percent in October for the seventh straight month, an increase smaller than expected. The forward looking index suggested that economic activity will continue to grow over the next few months, at a slow pace though.   The euro bought 1.4919 dollars in late New York trading compared with 1.4940 dollars it bought late Wednesday. The pound fell to 1.6647 dollars from 1.6718 dollars.   The dollar rose to 1.0626 Canadian dollars from 1.0567 Canadian dollars, and rose to 1.0133 Swiss francs from 1.0114 Swiss francs. It fell to 89.01 Japanese yen from 89.48 Japanese yen.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Video clips on YouTube to have automatic captions ]]></title>
<news_id>6819176</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819176.html ]]></link>
<pubDate>2009-11-20 15:37:21</pubDate>
<description><![CDATA[Google Inc. on Thursday announced that video clips on YouTube, the popular video-sharing website it bought in 2006, will soon include machine-generated automatic captions.   The automatic captions will be added for videos through the combination of Google's automatic speech recognition technology with the YouTube caption system.   In addition to automatic captions, Google said it is adding another feature called "auto-timing," which enables YouTube users to create a simple text file with all ...]]></description>
<full-text><![CDATA[Google Inc. on Thursday announced that video clips on YouTube, the popular video-sharing website it bought in 2006, will soon include machine-generated automatic captions.   The automatic captions will be added for videos through the combination of Google's automatic speech recognition technology with the YouTube caption system.   In addition to automatic captions, Google said it is adding another feature called "auto-timing," which enables YouTube users to create a simple text file with all the words in a video, leaving Google technology to figure out when the words are spoken and create corresponding captions.   Both features will be available in English by the end of this week with automatic captions initially visible only on a handful of YouTube's partner channel, Google said.   "We hope to expand these features for other channels and languages in the future," Ken Harrenstien, a deaf Google software engineer, wrote in a posting on the company's blog.   Captions in videos not only help the deaf and hearing impaired, but can also improve search and even enable users to jump to the exact parts of the videos they're looking for, Harrenstien noted.　   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Video clips on YouTube to have automatic captions ]]></title>
<news_id>6819176</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6819176.html ]]></link>
<pubDate>2009-11-20 15:37:21</pubDate>
<description><![CDATA[Google Inc. on Thursday announced that video clips on YouTube, the popular video-sharing website it bought in 2006, will soon include machine-generated automatic captions.   The automatic captions will be added for videos through the combination of Google's automatic speech recognition technology with the YouTube caption system.   In addition to automatic captions, Google said it is adding another feature called "auto-timing," which enables YouTube users to create a simple text file with all ...]]></description>
<full-text><![CDATA[Google Inc. on Thursday announced that video clips on YouTube, the popular video-sharing website it bought in 2006, will soon include machine-generated automatic captions.   The automatic captions will be added for videos through the combination of Google's automatic speech recognition technology with the YouTube caption system.   In addition to automatic captions, Google said it is adding another feature called "auto-timing," which enables YouTube users to create a simple text file with all the words in a video, leaving Google technology to figure out when the words are spoken and create corresponding captions.   Both features will be available in English by the end of this week with automatic captions initially visible only on a handful of YouTube's partner channel, Google said.   "We hope to expand these features for other channels and languages in the future," Ken Harrenstien, a deaf Google software engineer, wrote in a posting on the company's blog.   Captions in videos not only help the deaf and hearing impaired, but can also improve search and even enable users to jump to the exact parts of the videos they're looking for, Harrenstien noted.　   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Philippine bad loans ratio eases to 8 year low in September ]]></title>
<news_id>6819171</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819171.html ]]></link>
<pubDate>2009-11-20 15:37:21</pubDate>
<description><![CDATA[The non-performing loans (NPL) ratio of Philippine universal and commercial banks eased to an eight-year low of 3.25 percent in September, according to a data issued Friday by the country's central bank.   This lowest recorded figure since the ratio peaked at 18.81 percent in October 2001. The September ratio is lower than last month's 3.50 percent and by 0.78 percentage point from 4.03 percent ratio a year ago.   The improved NPL ratio in September as the 2.90 percent decline in NPLs was co ...]]></description>
<full-text><![CDATA[The non-performing loans (NPL) ratio of Philippine universal and commercial banks eased to an eight-year low of 3.25 percent in September, according to a data issued Friday by the country's central bank.   This lowest recorded figure since the ratio peaked at 18.81 percent in October 2001. The September ratio is lower than last month's 3.50 percent and by 0.78 percentage point from 4.03 percent ratio a year ago.   The improved NPL ratio in September as the 2.90 percent decline in NPLs was complemented by the 4.51 percent expansion in total loan portfolio (TLP).   The past due loans declined 2.9 percent to 81.42 billion pesos (1.7 billion U.S. dollars) in September, from the previous month's 83.84 billion pesos (1.8 billion U.S. dollars). TLP grew by 4.2 percent in September to 2.5 trillion pesos (53.3 billion U.S. dollars) from the previous month's 2.4 trillion pesos (51.2 billion U.S. dollars).   Net of inter-bank loans, the NPL ratio also improved to 3.74 percent from last month's 3.99 percent and last year's 4.55 percent ratio. The real and other properties acquired to gross assets ratio in September declined to 2.59 percent compared with August's 2.66 percent and last year's 2.96 percent ratio.   The loan exposure of banks remained adequately covered. The NPL coverage ratio strengthened to 111.27 percent from last month's 105.31 percent.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Philippine bad loans ratio eases to 8 year low in September ]]></title>
<news_id>6819171</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819171.html ]]></link>
<pubDate>2009-11-20 15:37:21</pubDate>
<description><![CDATA[The non-performing loans (NPL) ratio of Philippine universal and commercial banks eased to an eight-year low of 3.25 percent in September, according to a data issued Friday by the country's central bank.   This lowest recorded figure since the ratio peaked at 18.81 percent in October 2001. The September ratio is lower than last month's 3.50 percent and by 0.78 percentage point from 4.03 percent ratio a year ago.   The improved NPL ratio in September as the 2.90 percent decline in NPLs was co ...]]></description>
<full-text><![CDATA[The non-performing loans (NPL) ratio of Philippine universal and commercial banks eased to an eight-year low of 3.25 percent in September, according to a data issued Friday by the country's central bank.   This lowest recorded figure since the ratio peaked at 18.81 percent in October 2001. The September ratio is lower than last month's 3.50 percent and by 0.78 percentage point from 4.03 percent ratio a year ago.   The improved NPL ratio in September as the 2.90 percent decline in NPLs was complemented by the 4.51 percent expansion in total loan portfolio (TLP).   The past due loans declined 2.9 percent to 81.42 billion pesos (1.7 billion U.S. dollars) in September, from the previous month's 83.84 billion pesos (1.8 billion U.S. dollars). TLP grew by 4.2 percent in September to 2.5 trillion pesos (53.3 billion U.S. dollars) from the previous month's 2.4 trillion pesos (51.2 billion U.S. dollars).   Net of inter-bank loans, the NPL ratio also improved to 3.74 percent from last month's 3.99 percent and last year's 4.55 percent ratio. The real and other properties acquired to gross assets ratio in September declined to 2.59 percent compared with August's 2.66 percent and last year's 2.96 percent ratio.   The loan exposure of banks remained adequately covered. The NPL coverage ratio strengthened to 111.27 percent from last month's 105.31 percent.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Japan gov't declares nation to be in deflation ]]></title>
<news_id>6819170</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819170.html ]]></link>
<pubDate>2009-11-20 15:37:21</pubDate>
<description><![CDATA[The Japanese government said on Friday that the nation has fallen into deflation, exacerbating fears that the recent tentative economic recovery may slide into reverse.   Deputy Prime Minister Naoto Kan said the country now faces a "deflationary situation" and that the government will work with the Bank of Japan to implement policies to attempt to prevent an all out economic crisis.   Finance Minister Hirohisa Fujii also said he believes the economy is in a troubled situation. "We are aware  ...]]></description>
<full-text><![CDATA[The Japanese government said on Friday that the nation has fallen into deflation, exacerbating fears that the recent tentative economic recovery may slide into reverse.   Deputy Prime Minister Naoto Kan said the country now faces a "deflationary situation" and that the government will work with the Bank of Japan to implement policies to attempt to prevent an all out economic crisis.   Finance Minister Hirohisa Fujii also said he believes the economy is in a troubled situation. "We are aware of the serious risk. The situation is not as it should be," he said.   Fujii argues that while there was a certain amount the government could do to try to turn things around, "when it comes to fixing the economy, it has to come from the private sector."   Japan's economy has suffered over the last year, since the shock waves from the credit crisis that started in the United States reached its shores. Over the last year, the government has put in place a series of measures to attempt to revive the market and get people to start spending.   Over the last few months, there have been positive signs from the manufacturing sector, but statistics released on Monday showed that the domestic demand deflator a key indicator of deflation had slipped by 2.6 percent, its biggest fall in more than half a century.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Japan gov't declares nation to be in deflation ]]></title>
<news_id>6819170</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6819170.html ]]></link>
<pubDate>2009-11-20 15:37:21</pubDate>
<description><![CDATA[The Japanese government said on Friday that the nation has fallen into deflation, exacerbating fears that the recent tentative economic recovery may slide into reverse.   Deputy Prime Minister Naoto Kan said the country now faces a "deflationary situation" and that the government will work with the Bank of Japan to implement policies to attempt to prevent an all out economic crisis.   Finance Minister Hirohisa Fujii also said he believes the economy is in a troubled situation. "We are aware  ...]]></description>
<full-text><![CDATA[The Japanese government said on Friday that the nation has fallen into deflation, exacerbating fears that the recent tentative economic recovery may slide into reverse.   Deputy Prime Minister Naoto Kan said the country now faces a "deflationary situation" and that the government will work with the Bank of Japan to implement policies to attempt to prevent an all out economic crisis.   Finance Minister Hirohisa Fujii also said he believes the economy is in a troubled situation. "We are aware of the serious risk. The situation is not as it should be," he said.   Fujii argues that while there was a certain amount the government could do to try to turn things around, "when it comes to fixing the economy, it has to come from the private sector."   Japan's economy has suffered over the last year, since the shock waves from the credit crisis that started in the United States reached its shores. Over the last year, the government has put in place a series of measures to attempt to revive the market and get people to start spending.   Over the last few months, there have been positive signs from the manufacturing sector, but statistics released on Monday showed that the domestic demand deflator a key indicator of deflation had slipped by 2.6 percent, its biggest fall in more than half a century.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Low rates could discourage financing real economy: China central bank governor ]]></title>
<news_id>6819167</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6819167.html ]]></link>
<pubDate>2009-11-20 15:37:21</pubDate>
<description><![CDATA[Low interest rates, especially the deposit rate, would discourage financial institutions from providing adequate financing to the real economy, Zhou Xiaochuan, governor of the People's Bank of China (PBOC) said Friday.   He told the 2009 Business Week CEO Forum in Beijing that low interest rates would reduce pressure on financial institutions, removing incentives to actively provide financial services to the real economy.   "China has set the interest rate at about 2 percent to press Chinese ...]]></description>
<full-text><![CDATA[Low interest rates, especially the deposit rate, would discourage financial institutions from providing adequate financing to the real economy, Zhou Xiaochuan, governor of the People's Bank of China (PBOC) said Friday.   He told the 2009 Business Week CEO Forum in Beijing that low interest rates would reduce pressure on financial institutions, removing incentives to actively provide financial services to the real economy.   "China has set the interest rate at about 2 percent to press Chinese financial institutions to lend money to real economy for gains and reduce cash stockpiles," he said.   Zhou was referring to the low-interest policies of some countries and regions to fight the lingering economic downturn, said Tan Yaling, an expert with the China Institute for Financial Derivatives at Peking University.   U.S. Federal Reserve chairman Ben S. Bernanke said last week that U.S. interest rates had remained very low for an extended period and would likely stay that way for some time.   He reaffirmed the Federal Reserve's stance of keeping rates low for an "extended period" to sustain economic growth.   The Federal Reserve has kept its benchmark rate near zero since last December to spur an economic rebound and combat the worst financial crisis since the 1930s.   The central banks of Europe and Japan also said that they would keep their key interest rates at 1 percent and 0.1 percent, respectively.   China's monetary policy should be in line with its long-term economic strategy and focus on the domestic development, said Tan.   The one-year benchmark deposit rate stands at 2.25 percent among Chinese banks. The rate has been unchanged since December last year when China's central bank cut loan and deposit rates by 0.27 percentage points.   In efforts to stimulate the economy following the global financial crisis, the central bank cut the interest rates five times in four months from September to December last year.   U.S. Ambassador to China Jon Huntsman and Nobel Economics Prizelaureate Robert A. Mundell attended the forum.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Hebei Sanyuan, CAG agree on split of Sanlu assets ]]></title>
<news_id>6819165</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6819165.html ]]></link>
<pubDate>2009-11-20 15:37:22</pubDate>
<description><![CDATA[Beijing Capital Agribusiness Group (CAG) has agreed to pay 58.5 million yuan (8.6 million U.S. dollars) for the non-performing assets of the Sanlu Group, which was bankrupted in last year's melamine contamination scandal.   CAG and Hebei Sanyuan Foods Co. -- respectively the parent and subsidiary of the Shanghai-listed Beijing Sanyuan Foods Co. -- jointly bid 616.5 million yuan for the core assets of Sanlu in March.   Under an agreement, Hebei Sanyuan was to pay for Sanlu assets after Beijin ...]]></description>
<full-text><![CDATA[Beijing Capital Agribusiness Group (CAG) has agreed to pay 58.5 million yuan (8.6 million U.S. dollars) for the non-performing assets of the Sanlu Group, which was bankrupted in last year's melamine contamination scandal.   CAG and Hebei Sanyuan Foods Co. -- respectively the parent and subsidiary of the Shanghai-listed Beijing Sanyuan Foods Co. -- jointly bid 616.5 million yuan for the core assets of Sanlu in March.   Under an agreement, Hebei Sanyuan was to pay for Sanlu assets after Beijing Sanyuan Foods got government approval to raise funds for assets purchase by private share-issues.   CAG, then known as Beijing Sanyuan Group Co., was to take over any flawed assets or debt related to the assets incurred before the actual payment.   Hebei Sanyuan had found some Sanlu assets were defective or impaired after the bid, which could lead to malfunctions, Beijing Sanyuan Foods said in a statement to the Shanghai Stock Exchange Friday.   Hebei Sanyuan Foods has agreed to pay 558 million yuan (81.7 million U.S. dollars) for the remaining assets.   The Sanlu assets auctioned in March included land use rights, manufacturing equipment and a 98.8-percent stake in a dairy producer in Xinxiang city, Henan Province.   Beijing Sanyuan Foods said Tuesday that it had risen up to 1 billion yuan by issuing shares to its parent company CAG.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Higher costs, decreasing ad revenues weigh on NetEase ]]></title>
<news_id>6819164</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6819164.html ]]></link>
<pubDate>2009-11-20 15:37:22</pubDate>
<description><![CDATA[Surging expenses for game promotions and dwindling advertising revenues could weigh on NetEase.com Inc as the online gaming operator grappled with fierce competition in the crowded industry, China Daily reported Friday.   NetEase, one of China's biggest internet portals, may also suffer as the regulatory spat over its operation of blockbuster online game World of Warcraft (WoW).   The company earlier said net income during the third quarter rose to 393.8 million yuan (57.66 million U.S. doll ...]]></description>
<full-text><![CDATA[Surging expenses for game promotions and dwindling advertising revenues could weigh on NetEase.com Inc as the online gaming operator grappled with fierce competition in the crowded industry, China Daily reported Friday.   NetEase, one of China's biggest internet portals, may also suffer as the regulatory spat over its operation of blockbuster online game World of Warcraft (WoW).   The company earlier said net income during the third quarter rose to 393.8 million yuan (57.66 million U.S. dollars) from a year earlier. But its gross profit margin of online game services declined to 79.9 percent from 89.7 percent a year ago.   Earlier this month, the General Administration of Press and Publications (GAPP) suspended approval for WoW, while the Ministry of Culture insisted online games were out of GAPP's portfolio.   Advertising sales of NetEase fell 24 percent year on year to 86million yuan in the third quarter because "the 2008 Olympic-effect ceased," said NetEase.   China's online advertising market had been severely hit after the Beijing Olympic Games last year as companies cut their advertising and marketing budgets due to the global economic downturn.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Philippine president praises Chinese entrepreneurs, role in world recovery ]]></title>
<news_id>6819163</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6819163.html ]]></link>
<pubDate>2009-11-20 15:37:22</pubDate>
<description><![CDATA[Philippine President Gloria Macapagal-Arroyo Friday said Chinese entrepreneurs have played an important role to cushion the impacts of global financial crisis and help bring the world out from recession.   Speaking to 3,000 businessmen gathering here for the biennial World Chinese Entrepreneurs Convention, Arroyo said the Philippines and other economies with a very big Chinese community weathered the crisis with greater resilience and the active counter-crisis measures adopted, Chinese entrepr ...]]></description>
<full-text><![CDATA[Philippine President Gloria Macapagal-Arroyo Friday said Chinese entrepreneurs have played an important role to cushion the impacts of global financial crisis and help bring the world out from recession.   Speaking to 3,000 businessmen gathering here for the biennial World Chinese Entrepreneurs Convention, Arroyo said the Philippines and other economies with a very big Chinese community weathered the crisis with greater resilience and the active counter-crisis measures adopted, Chinese entrepreneurs is one reason why the world will bounce back from the recession sooner.   "We are on a solid comeback," Arroyo said, adding that things could have been worse if her government did not take the "unpopular but necessary" economic and fiscal reforms several years ago. These reforms, Arroyo said, were strongly supported by the country's influential Chinese business community.   Arroyo said every entrepreneur has experienced the devastation of the setbacks in the world economy and her government's commitment is to learn from the mistakes to make sure the crisis would never happen again.   Arroyo said the presence of 3,000 Chinese entrepreneurs from 20nations and regions shows the vitality and promise of a strong world business community that can help breathe new life into the world's economy.   Since its birth in 1991, the World Chinese Entrepreneurs Convention has served as a leading forum for Chinese businessmen around the world. With the theme "World Prosperity through Chinese Entrepreneurship," this year's conference focuses on cooperation to get through the financial crisis and to explore ways for sustainable growth of the private sector.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Millionaires club expands in China]]></title>
<news_id>6819131</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6819131.html ]]></link>
<pubDate>2009-11-20 15:37:22</pubDate>
<description><![CDATA[The global economic downturn has not affected the personal wealth of the rich in China that continued to expand this year and also opened up more opportunities for private bankers, said a recent study.  The number of millionaires with personal holdings in excess of $1 million is expected to cross 450,000 by the end of the year, with assets under management hitting $1.73 trillion, surpassing the country's pre-crisis levels, said the report released by Boston Consulting Group (BCG) yesterday.  ...]]></description>
<full-text><![CDATA[The global economic downturn has not affected the personal wealth of the rich in China that continued to expand this year and also opened up more opportunities for private bankers, said a recent study.  The number of millionaires with personal holdings in excess of $1 million is expected to cross 450,000 by the end of the year, with assets under management hitting $1.73 trillion, surpassing the country's pre-crisis levels, said the report released by Boston Consulting Group (BCG) yesterday.  That compared with a prolonged recovery in the global wealth market, with BCG predicting that a return to 2007 levels globally would take at least four years. Global wealth suffered the first decline in eight years in 2008, dropping 11.7 percent to $92.4 trillion.  "China is arguably the most explosive wealth market in the world, as rising income and a high savings rate will continue to spur development," Frankie Leung, partner and managing director of BCG Greater China and one of the primary authors of the report, said.  He expected the number of millionaires in China to reach 800,000 over the next four years.  However, China's wealth market was not immune to the financial crisis. Wealth in the country fell by 2.3 percent to $3.41 trillion last year, as the country witnessed volatile stock markets, plunging exports and fluctuating property prices throughout the crisis.  The study also showed the country's wealth was very much concentrated in certain individual groups and regions. Millionaire households represented only about 0.1 percent of all households in China, but held nearly half of the total wealth. Most of them are located in Guangdong, Beijing, Shanghai and other coastal provinces.  With the swelling personal wealth in China, the battle for high net worth clients between foreign and local banks has also intensified. Foreign banking giants, including HSBC, Citibank and BNP Paribas, have all set up private banking operations in the country since 2007.  The global movement from west to east and from north to south is expected to accelerate after the financial crisis, bringing unparalleled business growth opportunities to companies that have presence in emerging markets, Hans-Paul Burkner, global CEO of BCG told China Daily in an interview.  Local banks also stepped up their efforts to expand their geographic footprint. Bank of China, the nation's third largest lender by market value and the first Chinese bank to launch private banking business, has established private banking centers in 15 regions and strengthened its overseas private banking capacity through the acquisition of Geneva-based Heritage Fund Management in 2008.  Its rival Industrial and Commercial Bank of China, the nation's largest bank by assets and retail network, announced on Wednesday that it would soon expand its private banking network from the current five cities to 10, to cover other economic regions like Yangtze River Delta, Pearl River Delta and central China.  "No bank has emerged as a dominant leader so far, but local banks still dominate the market in terms of customer numbers and assets under management, thanks to their retail networks and sizable customer bases," Leung said.  &$<i>&$Source: China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Geithner confident China will usher in flexible currency]]></title>
<news_id>6818522</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6818522.html ]]></link>
<pubDate>2009-11-20 15:37:35</pubDate>
<description><![CDATA[U.S. Treasury Secretary Timothy Geithner said Thursday he was confident China would allow its yuan currency to become more flexible and reflect market expectations.   Pressures are building up in the Western capitals that now the global recession is receding and China's exports has begun to climb up, that Beijing should let its currency rise in value, in the hope more Western manufactured goods will be imported to China.   Answering questions from an array of lawmakers concerned over the val ...]]></description>
<full-text><![CDATA[U.S. Treasury Secretary Timothy Geithner said Thursday he was confident China would allow its yuan currency to become more flexible and reflect market expectations.   Pressures are building up in the Western capitals that now the global recession is receding and China's exports has begun to climb up, that Beijing should let its currency rise in value, in the hope more Western manufactured goods will be imported to China.   Answering questions from an array of lawmakers concerned over the value of the yuan currency, Geithner noted China had made a commitment to allowing the currency to fluctuate.  "China, as I've said many times, has committed to move," he told a congressional hearing. "They understand they need to do it. I think they want to do it. And I'm actually quite confident they will do it."  Geithner said that China and several other Asian nations had intervened in the foreign exchange market, apparently to contain the rise of their currencies.  "The scale of intervention declined dramatically in the peak of the crisis. It started to increase again in China and countries around the world," he said, citing the latest financial crisis which peaked around the end of 2008.  Geithner's remarks came after U.S. President Barack Obama, on his maiden China visit, tactfully voiced US worries that China's currency was kept at a level that aids its goods exports.  "I was pleased to note the Chinese commitment, made in past statements, to move toward a more market-oriented exchange rate over time," Obama said in Beijing.  International Monetary Fund chief Dominique Strauss-Kahn -- whose visit to China this week coincided with that of Obama -- said Beijing should let the yuan rise "sooner rather than later," saying it would benefit both China and the global economy, said a report from AFP.   &$<i>&$People's Daily Online&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[U.S. stocks fall on stronger dollar, weak economic data ]]></title>
<news_id>6818496</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818496.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[U.S. stocks slid on Thursday as a strengthening dollar lured investors from equity market and discouraging economic data dampened hope of economic recovery.   The dollar rose against high-yielding currencies and depressed commodity prices. Crude tumbled nearly 2 percent on New York Mercantile Exchange. Copper, gold, silver and nickel also retreated. Alcoa Inc. and ConocoPhillips led basic materials and energy producers lower.   Technology shares suffered a heavy sell-off after Bank of Americ ...]]></description>
<full-text><![CDATA[U.S. stocks slid on Thursday as a strengthening dollar lured investors from equity market and discouraging economic data dampened hope of economic recovery.   The dollar rose against high-yielding currencies and depressed commodity prices. Crude tumbled nearly 2 percent on New York Mercantile Exchange. Copper, gold, silver and nickel also retreated. Alcoa Inc. and ConocoPhillips led basic materials and energy producers lower.   Technology shares suffered a heavy sell-off after Bank of America downgraded the global chip industry to "negative" from "positive." Intel Corp. and Texas Instruments Inc. shares tumbled.   In economic news, the U.S. Labor Department said initial jobless claims were unchanged at 505,000 last week, but the figure remained at a level that does not signal increase in jobs. Meanwhile, the Conference Board's index of leading economic indicators climbed for a seventh consecutive month, but less than economists had expected.   The Dow Jones fell 93.87, or 0.90 percent to 10,332.44. Broader indexes also went lower. The Standard & Poor's 500 index dipped 14.90, or 1.34 percent, to 1,094.90 and the Nasdaq tumbled 36.23, or 1.66 percent to 2,156.82.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[U.S. stocks fall on stronger dollar, weak economic data ]]></title>
<news_id>6818496</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818496.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[U.S. stocks slid on Thursday as a strengthening dollar lured investors from equity market and discouraging economic data dampened hope of economic recovery.   The dollar rose against high-yielding currencies and depressed commodity prices. Crude tumbled nearly 2 percent on New York Mercantile Exchange. Copper, gold, silver and nickel also retreated. Alcoa Inc. and ConocoPhillips led basic materials and energy producers lower.   Technology shares suffered a heavy sell-off after Bank of Americ ...]]></description>
<full-text><![CDATA[U.S. stocks slid on Thursday as a strengthening dollar lured investors from equity market and discouraging economic data dampened hope of economic recovery.   The dollar rose against high-yielding currencies and depressed commodity prices. Crude tumbled nearly 2 percent on New York Mercantile Exchange. Copper, gold, silver and nickel also retreated. Alcoa Inc. and ConocoPhillips led basic materials and energy producers lower.   Technology shares suffered a heavy sell-off after Bank of America downgraded the global chip industry to "negative" from "positive." Intel Corp. and Texas Instruments Inc. shares tumbled.   In economic news, the U.S. Labor Department said initial jobless claims were unchanged at 505,000 last week, but the figure remained at a level that does not signal increase in jobs. Meanwhile, the Conference Board's index of leading economic indicators climbed for a seventh consecutive month, but less than economists had expected.   The Dow Jones fell 93.87, or 0.90 percent to 10,332.44. Broader indexes also went lower. The Standard & Poor's 500 index dipped 14.90, or 1.34 percent, to 1,094.90 and the Nasdaq tumbled 36.23, or 1.66 percent to 2,156.82.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Gold retreats from all-time high on profit-taking, strong dollar ]]></title>
<news_id>6818490</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818490.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[Gold futures on the COMEX Division of the New York Mercantile Exchange inched up on Thursday, retreating from Wednesday's record high as investors booked profits. Silver finished a little higher, but platinum dropped.   The most active gold contract for December delivery rose 70 cents to finish at 1,141.90 U.S. dollars an ounce.   Earlier in the session, the precious metal climbed as high as 1,146.50 dollars, failing to set another peak. Investors opted to pocket profits, forcing the contrac ...]]></description>
<full-text><![CDATA[Gold futures on the COMEX Division of the New York Mercantile Exchange inched up on Thursday, retreating from Wednesday's record high as investors booked profits. Silver finished a little higher, but platinum dropped.   The most active gold contract for December delivery rose 70 cents to finish at 1,141.90 U.S. dollars an ounce.   Earlier in the session, the precious metal climbed as high as 1,146.50 dollars, failing to set another peak. Investors opted to pocket profits, forcing the contract ever dipped to its intraday low of 1130. Gold has soared as most as 120 dollars, or 12 percent since October 28 as dollar continued depreciating.   A rising dollar is another factor that limited gold's gains. The dollar index, a gauge measuring the greenback's value against other major currencies, rose 0.16 to 75.265 when gold pit trading closed.   A World Gold Council report said gold demand fell 34 percent in the third quarter in view of high prices, but speculation in gold futures and expectations for more official sector bullion buying are keeping prices elevated.   The number of newly laid-off workers seeking unemployment benefits was pegged unchanged last week, in line with economists' expectations, according to Labor Department.   December silver was up 4 cents to 18.455 dollars per ounce. January platinum lost 8.10 dollars to 1,443.90 dollars an ounce.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Gold retreats from all-time high on profit-taking, strong dollar ]]></title>
<news_id>6818490</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818490.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[Gold futures on the COMEX Division of the New York Mercantile Exchange inched up on Thursday, retreating from Wednesday's record high as investors booked profits. Silver finished a little higher, but platinum dropped.   The most active gold contract for December delivery rose 70 cents to finish at 1,141.90 U.S. dollars an ounce.   Earlier in the session, the precious metal climbed as high as 1,146.50 dollars, failing to set another peak. Investors opted to pocket profits, forcing the contrac ...]]></description>
<full-text><![CDATA[Gold futures on the COMEX Division of the New York Mercantile Exchange inched up on Thursday, retreating from Wednesday's record high as investors booked profits. Silver finished a little higher, but platinum dropped.   The most active gold contract for December delivery rose 70 cents to finish at 1,141.90 U.S. dollars an ounce.   Earlier in the session, the precious metal climbed as high as 1,146.50 dollars, failing to set another peak. Investors opted to pocket profits, forcing the contract ever dipped to its intraday low of 1130. Gold has soared as most as 120 dollars, or 12 percent since October 28 as dollar continued depreciating.   A rising dollar is another factor that limited gold's gains. The dollar index, a gauge measuring the greenback's value against other major currencies, rose 0.16 to 75.265 when gold pit trading closed.   A World Gold Council report said gold demand fell 34 percent in the third quarter in view of high prices, but speculation in gold futures and expectations for more official sector bullion buying are keeping prices elevated.   The number of newly laid-off workers seeking unemployment benefits was pegged unchanged last week, in line with economists' expectations, according to Labor Department.   December silver was up 4 cents to 18.455 dollars per ounce. January platinum lost 8.10 dollars to 1,443.90 dollars an ounce.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Investors rule out U.S. Fed rate hike anytime soon, survey shows ]]></title>
<news_id>6818488</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818488.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[A majority of investors expects the U.S. Federal Reserve to hold off from raising interest rates until the second half of 2010, according to the BofA Merrill Lynchsurvey of fund managers for November.   Asked when they think the Fed will first increase rates, more than three quarters of the panel predicted the second half of 2010or beyond, one in six respondents believes the Fed will not act before 2011, BofA Merrill Lynch Global Research said in a report Thursday.   U.S. Fed Chairman Ben S. ...]]></description>
<full-text><![CDATA[A majority of investors expects the U.S. Federal Reserve to hold off from raising interest rates until the second half of 2010, according to the BofA Merrill Lynchsurvey of fund managers for November.   Asked when they think the Fed will first increase rates, more than three quarters of the panel predicted the second half of 2010or beyond, one in six respondents believes the Fed will not act before 2011, BofA Merrill Lynch Global Research said in a report Thursday.   U.S. Fed Chairman Ben S. Bernanke said Monday that the Fed would keep low interest rates for an extended period, citing uncertainties in U.S. economy, such as constrained flow of credit, weak economic activity and high unemployment, despite evidences of recovery.   "The Federal Open Market Committee continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period," said the chairman.   A total of 218 fund managers, managing assets worth of 534 billion U.S. dollars, participated in the global survey o Nov. 6-12, conducted by BofA Merrill Lynch Global Research with the help of market research company TNS.   A net 47 percent of respondents said they expect global core inflation to be higher in 12 months, up from a net 39 percent in October. Two thirds of the panel believe that the existing monetary policy is "about right."   "Investors see inflation as a greater risk than deflation and are hedging that risk with overweight positions in emerging markets and commodities, and an underweight position in the U.S. dollar," said Michael Hartnett, chief global equity strategist at BofA Merrill Lynch Global Research.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Investors rule out U.S. Fed rate hike anytime soon, survey shows ]]></title>
<news_id>6818488</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818488.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[A majority of investors expects the U.S. Federal Reserve to hold off from raising interest rates until the second half of 2010, according to the BofA Merrill Lynchsurvey of fund managers for November.   Asked when they think the Fed will first increase rates, more than three quarters of the panel predicted the second half of 2010or beyond, one in six respondents believes the Fed will not act before 2011, BofA Merrill Lynch Global Research said in a report Thursday.   U.S. Fed Chairman Ben S. ...]]></description>
<full-text><![CDATA[A majority of investors expects the U.S. Federal Reserve to hold off from raising interest rates until the second half of 2010, according to the BofA Merrill Lynchsurvey of fund managers for November.   Asked when they think the Fed will first increase rates, more than three quarters of the panel predicted the second half of 2010or beyond, one in six respondents believes the Fed will not act before 2011, BofA Merrill Lynch Global Research said in a report Thursday.   U.S. Fed Chairman Ben S. Bernanke said Monday that the Fed would keep low interest rates for an extended period, citing uncertainties in U.S. economy, such as constrained flow of credit, weak economic activity and high unemployment, despite evidences of recovery.   "The Federal Open Market Committee continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period," said the chairman.   A total of 218 fund managers, managing assets worth of 534 billion U.S. dollars, participated in the global survey o Nov. 6-12, conducted by BofA Merrill Lynch Global Research with the help of market research company TNS.   A net 47 percent of respondents said they expect global core inflation to be higher in 12 months, up from a net 39 percent in October. Two thirds of the panel believe that the existing monetary policy is "about right."   "Investors see inflation as a greater risk than deflation and are hedging that risk with overweight positions in emerging markets and commodities, and an underweight position in the U.S. dollar," said Michael Hartnett, chief global equity strategist at BofA Merrill Lynch Global Research.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Oil sinks as stock tumbles, dollar strengthens ]]></title>
<news_id>6818484</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818484.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[Crude prices plunged nearly 3 percent on Thursday, pressured by the big drop on the equities market and an increase in the U.S. currency.   Light, sweet crude for December delivery fell 2.12 U.S. dollars, or 2.7 percent, to settle at 77.46 dollars a barrel on the New York Mercantile Exchange.   U.S. Stock fell, with major averages dropped most since October30, as concern grew that the rally has outpaced the prospects for economic growth, dragging oil down as much as 3.2 percent in the sessio ...]]></description>
<full-text><![CDATA[Crude prices plunged nearly 3 percent on Thursday, pressured by the big drop on the equities market and an increase in the U.S. currency.   Light, sweet crude for December delivery fell 2.12 U.S. dollars, or 2.7 percent, to settle at 77.46 dollars a barrel on the New York Mercantile Exchange.   U.S. Stock fell, with major averages dropped most since October30, as concern grew that the rally has outpaced the prospects for economic growth, dragging oil down as much as 3.2 percent in the session.   The dollar strengthened against a basket of major currencies, reducing the appeal of commodities as an alternative investment.   In London, Brent Crude for January delivery gave up 1.74 dollars to 77.73 dollars a barrel on the ICE Futures exchange.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Oil sinks as stock tumbles, dollar strengthens ]]></title>
<news_id>6818484</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818484.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[Crude prices plunged nearly 3 percent on Thursday, pressured by the big drop on the equities market and an increase in the U.S. currency.   Light, sweet crude for December delivery fell 2.12 U.S. dollars, or 2.7 percent, to settle at 77.46 dollars a barrel on the New York Mercantile Exchange.   U.S. Stock fell, with major averages dropped most since October30, as concern grew that the rally has outpaced the prospects for economic growth, dragging oil down as much as 3.2 percent in the sessio ...]]></description>
<full-text><![CDATA[Crude prices plunged nearly 3 percent on Thursday, pressured by the big drop on the equities market and an increase in the U.S. currency.   Light, sweet crude for December delivery fell 2.12 U.S. dollars, or 2.7 percent, to settle at 77.46 dollars a barrel on the New York Mercantile Exchange.   U.S. Stock fell, with major averages dropped most since October30, as concern grew that the rally has outpaced the prospects for economic growth, dragging oil down as much as 3.2 percent in the session.   The dollar strengthened against a basket of major currencies, reducing the appeal of commodities as an alternative investment.   In London, Brent Crude for January delivery gave up 1.74 dollars to 77.73 dollars a barrel on the ICE Futures exchange.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[U.S. computer glitches causing flight delays resolved ]]></title>
<news_id>6818482</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818482.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[The U.S. Federal Aviation Administration (FAA) said Thursday that its flight computer system, which went down early in the morning, is back to normal after glitches caused delays across the northeastern United States.   FAA said earlier that the system went down at 5:15 a.m. EDT. Its spokeswoman Laura Brown said that air traffic controllers had to enter the flight plans manually, a process that causes delays.   There were no problems with controllers' radar data or voice communication, so ai ...]]></description>
<full-text><![CDATA[The U.S. Federal Aviation Administration (FAA) said Thursday that its flight computer system, which went down early in the morning, is back to normal after glitches caused delays across the northeastern United States.   FAA said earlier that the system went down at 5:15 a.m. EDT. Its spokeswoman Laura Brown said that air traffic controllers had to enter the flight plans manually, a process that causes delays.   There were no problems with controllers' radar data or voice communication, so airline safety was unaffected.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[U.S. computer glitches causing flight delays resolved ]]></title>
<news_id>6818482</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818482.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[The U.S. Federal Aviation Administration (FAA) said Thursday that its flight computer system, which went down early in the morning, is back to normal after glitches caused delays across the northeastern United States.   FAA said earlier that the system went down at 5:15 a.m. EDT. Its spokeswoman Laura Brown said that air traffic controllers had to enter the flight plans manually, a process that causes delays.   There were no problems with controllers' radar data or voice communication, so ai ...]]></description>
<full-text><![CDATA[The U.S. Federal Aviation Administration (FAA) said Thursday that its flight computer system, which went down early in the morning, is back to normal after glitches caused delays across the northeastern United States.   FAA said earlier that the system went down at 5:15 a.m. EDT. Its spokeswoman Laura Brown said that air traffic controllers had to enter the flight plans manually, a process that causes delays.   There were no problems with controllers' radar data or voice communication, so airline safety was unaffected.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[U.S. economic leading indicator increases in October ]]></title>
<news_id>6818476</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818476.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[The Conference Board, an economic research group, said Thursday that its leading economic index (LEI)for the United States increased 0.3 percent for the seventh consecutive month in October.   The LEI for the United States increased 0.3 percent in October, following a 1.0 percent gain in September, and a 0.4 percent rise in August, said the Conference Board in a report.   "After half a year of consecutive increases, the month-to-month growth of the LEI is stabilizing and the gains continue t ...]]></description>
<full-text><![CDATA[The Conference Board, an economic research group, said Thursday that its leading economic index (LEI)for the United States increased 0.3 percent for the seventh consecutive month in October.   The LEI for the United States increased 0.3 percent in October, following a 1.0 percent gain in September, and a 0.4 percent rise in August, said the Conference Board in a report.   "After half a year of consecutive increases, the month-to-month growth of the LEI is stabilizing and the gains continue to be broad-based," said Ataman Ozyildirim, economist at the Conference Board.   "Meanwhile, the coincident economic index has been essentially flat since June, after declining since November 2007. The composite indexes suggest the recovery is unfolding and economic activity should continue improving in the near term," he added.   "The data indicate that economic recovery is finally setting in. We can expect slow growth through the first half of 2010. The pace of growth, however, will depend critically on how much demand picks up, and how soon," said Ken Goldstein, economist at the Conference Board.   The Conference Board coincident economic index for the United States was unchanged in October, following a 0.1 percent decline in September, and a 0.1 percent increase in August.   The Conference Board lagging economic index declined 0.2 percent in October, following a 0.5 percent decline in September, and a 0.4 percent decline in August.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[U.S. economic leading indicator increases in October ]]></title>
<news_id>6818476</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818476.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[The Conference Board, an economic research group, said Thursday that its leading economic index (LEI)for the United States increased 0.3 percent for the seventh consecutive month in October.   The LEI for the United States increased 0.3 percent in October, following a 1.0 percent gain in September, and a 0.4 percent rise in August, said the Conference Board in a report.   "After half a year of consecutive increases, the month-to-month growth of the LEI is stabilizing and the gains continue t ...]]></description>
<full-text><![CDATA[The Conference Board, an economic research group, said Thursday that its leading economic index (LEI)for the United States increased 0.3 percent for the seventh consecutive month in October.   The LEI for the United States increased 0.3 percent in October, following a 1.0 percent gain in September, and a 0.4 percent rise in August, said the Conference Board in a report.   "After half a year of consecutive increases, the month-to-month growth of the LEI is stabilizing and the gains continue to be broad-based," said Ataman Ozyildirim, economist at the Conference Board.   "Meanwhile, the coincident economic index has been essentially flat since June, after declining since November 2007. The composite indexes suggest the recovery is unfolding and economic activity should continue improving in the near term," he added.   "The data indicate that economic recovery is finally setting in. We can expect slow growth through the first half of 2010. The pace of growth, however, will depend critically on how much demand picks up, and how soon," said Ken Goldstein, economist at the Conference Board.   The Conference Board coincident economic index for the United States was unchanged in October, following a 0.1 percent decline in September, and a 0.1 percent increase in August.   The Conference Board lagging economic index declined 0.2 percent in October, following a 0.5 percent decline in September, and a 0.4 percent decline in August.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Forbes: India's 100 richest worth 25% of GDP ]]></title>
<news_id>6818470</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818470.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[The Billionaires Club of India almost doubled from last year to 54 members up from 27, aided by are bounding stock market that gained two-thirds in the past year and an economy growing at six percent, said the Forbes Asia magazine on Thursday.   The country's 100 richest people have a combined net worth of 276 billion U.S. dollars, which was almost a quarter of the country's Gross Domestic Product (GDP).   Last year, there were only 27 billionaires on the India Rich List. This year, the numb ...]]></description>
<full-text><![CDATA[The Billionaires Club of India almost doubled from last year to 54 members up from 27, aided by are bounding stock market that gained two-thirds in the past year and an economy growing at six percent, said the Forbes Asia magazine on Thursday.   The country's 100 richest people have a combined net worth of 276 billion U.S. dollars, which was almost a quarter of the country's Gross Domestic Product (GDP).   Last year, there were only 27 billionaires on the India Rich List. This year, the number has almost doubled to 52, two short of what India had at the peak of the stock market boom in 2007.   Mukesh Ambani, heading Reliance Industries Limited, is once again the wealthiest person in India with his net worth increasing by 54 percent to 32 billion U.S. dollars from nearly 21 billion last year.   Trailing behind him are Lakshmi Mittal with a net worth of 30 billion U.S. dollars, up 46 percent from 20.5 billion, and Mukesh's estranged brother, Anil, whose net worth of 17.5 billion U.S. dollars, 40 percent higher than before, put him in the third place.   India Editor of Forbes Asia Naazneen Karmali said in a statement, "Happy days are definitely back again for India's richest. This year's list shows yet again that when conditions in the financial markets and the economy are right, India has the scale and resources to produce billionaires faster than most of the countries on earth."   Though, the top 10 positions remain largely unchanged, there are some shifts in fortunes across the list.   Sunil Mittal of Bharti Telecom has moved down from number four to number eight and Wipro's Azim Premji has moved up to number four.   The Ruia brothers of Essar company, with a net worth of 13.6 billion U.S. dollars, have made it to number five this year.   Adi Godrej of Godrej Industries has moved out of the top 10 to the number 12 position. Savitri Jindal, non-executive chairwoman of OP Jindal Group, at a net worth of 12 billion U.S. dollars this year, has made it to number seven on the list. She is one of only six women on the list.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Forbes: India's 100 richest worth 25% of GDP ]]></title>
<news_id>6818470</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818470.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[The Billionaires Club of India almost doubled from last year to 54 members up from 27, aided by are bounding stock market that gained two-thirds in the past year and an economy growing at six percent, said the Forbes Asia magazine on Thursday.   The country's 100 richest people have a combined net worth of 276 billion U.S. dollars, which was almost a quarter of the country's Gross Domestic Product (GDP).   Last year, there were only 27 billionaires on the India Rich List. This year, the numb ...]]></description>
<full-text><![CDATA[The Billionaires Club of India almost doubled from last year to 54 members up from 27, aided by are bounding stock market that gained two-thirds in the past year and an economy growing at six percent, said the Forbes Asia magazine on Thursday.   The country's 100 richest people have a combined net worth of 276 billion U.S. dollars, which was almost a quarter of the country's Gross Domestic Product (GDP).   Last year, there were only 27 billionaires on the India Rich List. This year, the number has almost doubled to 52, two short of what India had at the peak of the stock market boom in 2007.   Mukesh Ambani, heading Reliance Industries Limited, is once again the wealthiest person in India with his net worth increasing by 54 percent to 32 billion U.S. dollars from nearly 21 billion last year.   Trailing behind him are Lakshmi Mittal with a net worth of 30 billion U.S. dollars, up 46 percent from 20.5 billion, and Mukesh's estranged brother, Anil, whose net worth of 17.5 billion U.S. dollars, 40 percent higher than before, put him in the third place.   India Editor of Forbes Asia Naazneen Karmali said in a statement, "Happy days are definitely back again for India's richest. This year's list shows yet again that when conditions in the financial markets and the economy are right, India has the scale and resources to produce billionaires faster than most of the countries on earth."   Though, the top 10 positions remain largely unchanged, there are some shifts in fortunes across the list.   Sunil Mittal of Bharti Telecom has moved down from number four to number eight and Wipro's Azim Premji has moved up to number four.   The Ruia brothers of Essar company, with a net worth of 13.6 billion U.S. dollars, have made it to number five this year.   Adi Godrej of Godrej Industries has moved out of the top 10 to the number 12 position. Savitri Jindal, non-executive chairwoman of OP Jindal Group, at a net worth of 12 billion U.S. dollars this year, has made it to number seven on the list. She is one of only six women on the list.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China Enterprises Index downs 1.59 pct]]></title>
<news_id>6818466</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6818466.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[The Hang Seng China Enterprises Index on the Hong Kong Stock Exchange dropped 217.03 points, or 1.59 percent, to close Thursday's trading at 13,470.98.   The H-shares index, initiated in August 1994 and readjusted on Sept. 7, 2009, tracks the overall performance of 44 major Chinese mainland state-owned enterprises listed on the Hong Kong Stock Exchange.   The Hang Seng China H-Financials Index fell 345.58 points, or 1. 81 percent, to close at 18,710.19.   The H-Financials Index, initiated  ...]]></description>
<full-text><![CDATA[The Hang Seng China Enterprises Index on the Hong Kong Stock Exchange dropped 217.03 points, or 1.59 percent, to close Thursday's trading at 13,470.98.   The H-shares index, initiated in August 1994 and readjusted on Sept. 7, 2009, tracks the overall performance of 44 major Chinese mainland state-owned enterprises listed on the Hong Kong Stock Exchange.   The Hang Seng China H-Financials Index fell 345.58 points, or 1. 81 percent, to close at 18,710.19.   The H-Financials Index, initiated on Nov. 27, 2006, readjusted on Sept. 10, 2007, tracks the performance of nine major banks and insurers of the Chinese mainland.   The Hang Seng Mainland Composite Index went down 36.14 points, or 0.85 percent, to close at 4,196.42.   Introduced on Oct. 3, 2001 with the latest readjustment effective on March 9, 2009, the Hang Seng Mainland Composite Index gauges the performance of 132 Hong Kong-listed companies with principal places of business in Hong Kong and the Chinese mainland.   The Hang Seng China-Affiliated Corporations Index moved up 7.81points, or 0.19 percent, to close at 4,163.50.   The index tracks the performance of 34 locally listed companies with a significant equity interest held by entities in the Chinese mainland.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China electrical appliances retailer Gome expects better profit ]]></title>
<news_id>6818464</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6818464.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[Gome Electrical Appliances Holdings Ltd said it expected better full year numbers and would open more outlets next year, as the electronics retailer continued to benefit from its store restructuring plan and various other cost control measures, China Daily reported Thursday.   Chen Xiao, president of Gome, said revenue during the third quarter of the year rose 2.85 percent to 10.97 billion yuan (1.61 billion U.S. dollars) compared with 10.66 billion yuan in the previous quarter. Net profit for ...]]></description>
<full-text><![CDATA[Gome Electrical Appliances Holdings Ltd said it expected better full year numbers and would open more outlets next year, as the electronics retailer continued to benefit from its store restructuring plan and various other cost control measures, China Daily reported Thursday.   Chen Xiao, president of Gome, said revenue during the third quarter of the year rose 2.85 percent to 10.97 billion yuan (1.61 billion U.S. dollars) compared with 10.66 billion yuan in the previous quarter. Net profit for the period was 385 million yuan.   The company said revenue for the nine months ending Sept. 30 rose 13.64 percent to 31.43 billion yuan over the same period last year. Net profit, however, fell in the nine months by 39 percent to 965 million yuan from a year ago.   The company has improved its performance with better management and outlet optimization and needs to revamp the products at its outlets, said Lu Renbo, analyst of the Research Institute of Market Economy of the State Council.   Gome was founded by Huang Guangyu in Beijing in 1987 and was listed on the Hong Kong Stock Exchange in 2004.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Guangdong's economy to grow 9% in 2009, governor says ]]></title>
<news_id>6818463</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6818463.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[South China's Guangdong Province is expected to achieve economic growth of 9 percent this year, higher than the target of 8.5 percent, governor Huang Huahua said Thursday.   The worst time was over and this year's economic situation was better than expected, Huang told Xinhua.   Guangdong's economy in the first quarter expanded 5.8 percent from a year earlier, lower than the 6.1 percent nationwide, as the global financial crisis took a heavy toll on China's "factory of the world."   The gr ...]]></description>
<full-text><![CDATA[South China's Guangdong Province is expected to achieve economic growth of 9 percent this year, higher than the target of 8.5 percent, governor Huang Huahua said Thursday.   The worst time was over and this year's economic situation was better than expected, Huang told Xinhua.   Guangdong's economy in the first quarter expanded 5.8 percent from a year earlier, lower than the 6.1 percent nationwide, as the global financial crisis took a heavy toll on China's "factory of the world."   The growth rate accelerated to 8.6 percent in the year to September, 0.9 percentage points higher than the national average rate.   Huang said the economy picked up with massive government spending and measures to help exporters and small and medium-sized businesses to ride out the economic crisis.   This year, the province would invest 330 billion yuan (48.3 billion U.S. dollars) in 10 projects that cost a total of 2.3 trillion yuan.   Guangdong's export decline narrowed to 16.8 percent year on year in the first 10 months, compared to a 20.5-percent slump for nationwide.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Guangdong's economy to grow 9% in 2009, governor says ]]></title>
<news_id>6818463</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6818463.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[South China's Guangdong Province is expected to achieve economic growth of 9 percent this year, higher than the target of 8.5 percent, governor Huang Huahua said Thursday.   The worst time was over and this year's economic situation was better than expected, Huang told Xinhua.   Guangdong's economy in the first quarter expanded 5.8 percent from a year earlier, lower than the 6.1 percent nationwide, as the global financial crisis took a heavy toll on China's "factory of the world."   The gr ...]]></description>
<full-text><![CDATA[South China's Guangdong Province is expected to achieve economic growth of 9 percent this year, higher than the target of 8.5 percent, governor Huang Huahua said Thursday.   The worst time was over and this year's economic situation was better than expected, Huang told Xinhua.   Guangdong's economy in the first quarter expanded 5.8 percent from a year earlier, lower than the 6.1 percent nationwide, as the global financial crisis took a heavy toll on China's "factory of the world."   The growth rate accelerated to 8.6 percent in the year to September, 0.9 percentage points higher than the national average rate.   Huang said the economy picked up with massive government spending and measures to help exporters and small and medium-sized businesses to ride out the economic crisis.   This year, the province would invest 330 billion yuan (48.3 billion U.S. dollars) in 10 projects that cost a total of 2.3 trillion yuan.   Guangdong's export decline narrowed to 16.8 percent year on year in the first 10 months, compared to a 20.5-percent slump for nationwide.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[West China sees GDP grow 12.5% in first nine months ]]></title>
<news_id>6818462</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6818462.html ]]></link>
<pubDate>2009-11-20 15:37:36</pubDate>
<description><![CDATA[The gross domestic product (GDP) of China's western regions rose 12.5 percent in the first nine months from a year earlier, China's top economic planner said Thursday.   The growth rate was 4.8 percentage points higher than the national rate, said a statement on the National Development and Reform Commission (NDRC) website.   China launched the "West Development Strategy" in January 2000 to help underdeveloped western regions catch up with the more prosperous eastern regions.   The western ...]]></description>
<full-text><![CDATA[The gross domestic product (GDP) of China's western regions rose 12.5 percent in the first nine months from a year earlier, China's top economic planner said Thursday.   The growth rate was 4.8 percentage points higher than the national rate, said a statement on the National Development and Reform Commission (NDRC) website.   China launched the "West Development Strategy" in January 2000 to help underdeveloped western regions catch up with the more prosperous eastern regions.   The western regions comprise 12 provinces, autonomous regions and municipality, which have a combined population of about 370 million and account for 71.4 percent of the country's total land area.   Since last year, the regions have suffered the double blow of the global economic downturn and the 8-magnitude earthquake that devastated western Sichuan, Yunnan, Gansu and Shaanxi provinces on May 12, last year.   The government has taken measures to boost consumption in the region and stepped up efforts to reconstruct the quake-stricken areas.   Retail sales in the regions were up 19 percent from the same period last year. The rise was 3.9 percentage points higher than the national level.   The regions also saw fixed-asset investment up 38.9 percent to 3.16 trillion yuan (462.7 billion U.S. dollars), according to the NDRC.   More than 43 percent of investment allocated by the central government to expand domestic demand had been invested in western regions, Premier Wen Jiabao said in a forum on developing the western regions last month.   Local fiscal revenue in the regions rose 14.8 percent, 5 percentage points higher than the average national level, the NDRC said.   As elsewhere in China, the region saw imports and exports down due to weakening foreign demand. Foreign trade volume in the region fell 22.6 percent, according to the NDRC.   In the last 10 years, the central government had provided more than 3.5 trillion yuan to support development of the western regions. GDP of the regions from 2000 to 2008 jumped from 1.66 trillion yuan to 5.82 trillion yuan, at an average annual growth rate of 11.7 percent, Wen said.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Indonesia vows to head off impact of global capital on domestic economy]]></title>
<news_id>6818414</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818414.html ]]></link>
<pubDate>2009-11-19 20:30:59</pubDate>
<description><![CDATA[The Indonesian government and the central bank would monitor the movement of the global capital into the country and to manage it in a condition that would not disturb the country's economy, Finance Minister Sri Mulyani here Thursday.       The statement came as strong capital inflows to the emerging markets, including Indonesia, following the start of the economic recovery in the economies along with the improvement of the global economy.       "We and the Bank of Indonesia (the central ban ...]]></description>
<full-text><![CDATA[The Indonesian government and the central bank would monitor the movement of the global capital into the country and to manage it in a condition that would not disturb the country's economy, Finance Minister Sri Mulyani here Thursday.       The statement came as strong capital inflows to the emerging markets, including Indonesia, following the start of the economic recovery in the economies along with the improvement of the global economy.       "We and the Bank of Indonesia (the central bank) will attempt to make the impact of the global condition, which has changed significantly and is very dynamic, does not shock and disturb management of our economy," she told reporters at the State Palace.       "The way is that we will continuously make the movements (of rupiah) in the basis of (economic) fundamental factors," Mulyani said.       But, the central bank would not conduct capital or reserve control and limited the foreign ownership at the certificate of the bank, deputy of the bank Darmin Nasution said.       "There is no capital or reserve control. (The bank) studies (the possibility of limiting foreign ownership at one-month bank certificate)," Nasution told reporters at the palace.       The bank currently issues one-month, three-month and six-month certificates to absorb excess funds in the market, but the certificates also attracted huge inflow of foreign capital.       Previously, Nasution has said that the rupiah may strengthen against U.S. dollars on the back of improving economic prospects and the bank's benchmark interest rate may be steady at 6.5 percent by up to year end and may rise at the beginning of next year as the inflation pressure will rise following the hike of global commodity demand and prices.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Indonesia vows to head off impact of global capital on domestic economy]]></title>
<news_id>6818414</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818414.html ]]></link>
<pubDate>2009-11-19 20:30:59</pubDate>
<description><![CDATA[The Indonesian government and the central bank would monitor the movement of the global capital into the country and to manage it in a condition that would not disturb the country's economy, Finance Minister Sri Mulyani here Thursday.       The statement came as strong capital inflows to the emerging markets, including Indonesia, following the start of the economic recovery in the economies along with the improvement of the global economy.       "We and the Bank of Indonesia (the central ban ...]]></description>
<full-text><![CDATA[The Indonesian government and the central bank would monitor the movement of the global capital into the country and to manage it in a condition that would not disturb the country's economy, Finance Minister Sri Mulyani here Thursday.       The statement came as strong capital inflows to the emerging markets, including Indonesia, following the start of the economic recovery in the economies along with the improvement of the global economy.       "We and the Bank of Indonesia (the central bank) will attempt to make the impact of the global condition, which has changed significantly and is very dynamic, does not shock and disturb management of our economy," she told reporters at the State Palace.       "The way is that we will continuously make the movements (of rupiah) in the basis of (economic) fundamental factors," Mulyani said.       But, the central bank would not conduct capital or reserve control and limited the foreign ownership at the certificate of the bank, deputy of the bank Darmin Nasution said.       "There is no capital or reserve control. (The bank) studies (the possibility of limiting foreign ownership at one-month bank certificate)," Nasution told reporters at the palace.       The bank currently issues one-month, three-month and six-month certificates to absorb excess funds in the market, but the certificates also attracted huge inflow of foreign capital.       Previously, Nasution has said that the rupiah may strengthen against U.S. dollars on the back of improving economic prospects and the bank's benchmark interest rate may be steady at 6.5 percent by up to year end and may rise at the beginning of next year as the inflation pressure will rise following the hike of global commodity demand and prices.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Japan revises key gauge of economy upward]]></title>
<news_id>6818413</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818413.html ]]></link>
<pubDate>2009-11-19 20:30:37</pubDate>
<description><![CDATA[The Japanese Cabinet Office on Thursday made an upward revision to its preliminary forecasts as key composite indices that gauged the Japanese economy in September revealed increased productivity in industrial sectors and better-than-expected sales at small and medium-sized domestic companies.       The Cabinet Office raised the composite index (CI) of coincident economic indicators, such as: personal income, GDP, industrial production and retail sales, from a preliminary estimate of 92.5 agai ...]]></description>
<full-text><![CDATA[The Japanese Cabinet Office on Thursday made an upward revision to its preliminary forecasts as key composite indices that gauged the Japanese economy in September revealed increased productivity in industrial sectors and better-than-expected sales at small and medium-sized domestic companies.       The Cabinet Office raised the composite index (CI) of coincident economic indicators, such as: personal income, GDP, industrial production and retail sales, from a preliminary estimate of 92.5 against 100 for the base year of 2005 to 92.7, an increase of 1.5 points from the previous month.       The office also made a slight upward revision to September's CI of lagging indicators, which measure economic performance over the recent past and track factors that change as the economy does as a whole, such as the unemployment rate and consumer confidence. It's initial forecast was upgraded from 84.5 to 84.6.       If the CI of coincident indicators rises in October the Cabinet Office will revise its economic assessment to "signaling improvements", according to the office's report Thursday.       In the meantime however, its recent assessment based on the office's preliminary report, which described the index as "signaling a turning point", remains the official line from the Cabinet office.       The index of leading indicators, such as the stock market, which act as short-term predictions of the economic climate, were left unchanged by the Cabinet Office's preliminary estimate of 86.4.       The Cabinet Office with regard to future indicators concluded the economic outlook for small and medium-sized companies "suggested some improvement."   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Japan revises key gauge of economy upward]]></title>
<news_id>6818413</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818413.html ]]></link>
<pubDate>2009-11-19 20:30:37</pubDate>
<description><![CDATA[The Japanese Cabinet Office on Thursday made an upward revision to its preliminary forecasts as key composite indices that gauged the Japanese economy in September revealed increased productivity in industrial sectors and better-than-expected sales at small and medium-sized domestic companies.       The Cabinet Office raised the composite index (CI) of coincident economic indicators, such as: personal income, GDP, industrial production and retail sales, from a preliminary estimate of 92.5 agai ...]]></description>
<full-text><![CDATA[The Japanese Cabinet Office on Thursday made an upward revision to its preliminary forecasts as key composite indices that gauged the Japanese economy in September revealed increased productivity in industrial sectors and better-than-expected sales at small and medium-sized domestic companies.       The Cabinet Office raised the composite index (CI) of coincident economic indicators, such as: personal income, GDP, industrial production and retail sales, from a preliminary estimate of 92.5 against 100 for the base year of 2005 to 92.7, an increase of 1.5 points from the previous month.       The office also made a slight upward revision to September's CI of lagging indicators, which measure economic performance over the recent past and track factors that change as the economy does as a whole, such as the unemployment rate and consumer confidence. It's initial forecast was upgraded from 84.5 to 84.6.       If the CI of coincident indicators rises in October the Cabinet Office will revise its economic assessment to "signaling improvements", according to the office's report Thursday.       In the meantime however, its recent assessment based on the office's preliminary report, which described the index as "signaling a turning point", remains the official line from the Cabinet office.       The index of leading indicators, such as the stock market, which act as short-term predictions of the economic climate, were left unchanged by the Cabinet Office's preliminary estimate of 86.4.       The Cabinet Office with regard to future indicators concluded the economic outlook for small and medium-sized companies "suggested some improvement."   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Philippine Q3 GDP to grow 1.6 to 2.6%]]></title>
<news_id>6818412</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818412.html ]]></link>
<pubDate>2009-11-19 20:30:01</pubDate>
<description><![CDATA[The Philippine economy is forecast to grow by 1.6 percent to 2.6 percent in the third quarter on back of the steady inflow of remittances from overseas Filipino workers, a senior economic manager said Thursday.       Remittances have bolstered spending in July-September, Philippine Socioeconomic Planning Secretary Augusto B. Santos said in an interview with reporters. The Philippines has a consumption-driven economy.       The third quarter forecast is higher than the actual GDP growth rates ...]]></description>
<full-text><![CDATA[The Philippine economy is forecast to grow by 1.6 percent to 2.6 percent in the third quarter on back of the steady inflow of remittances from overseas Filipino workers, a senior economic manager said Thursday.       Remittances have bolstered spending in July-September, Philippine Socioeconomic Planning Secretary Augusto B. Santos said in an interview with reporters. The Philippines has a consumption-driven economy.       The third quarter forecast is higher than the actual GDP growth rates posted in the first two quarters of the year.       Santos added that the services sector would have contributed to third quarter GDP growth.       The Philippine government will issue actual GDP growth rate next week.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Philippine Q3 GDP to grow 1.6 to 2.6%]]></title>
<news_id>6818412</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818412.html ]]></link>
<pubDate>2009-11-19 20:30:01</pubDate>
<description><![CDATA[The Philippine economy is forecast to grow by 1.6 percent to 2.6 percent in the third quarter on back of the steady inflow of remittances from overseas Filipino workers, a senior economic manager said Thursday.       Remittances have bolstered spending in July-September, Philippine Socioeconomic Planning Secretary Augusto B. Santos said in an interview with reporters. The Philippines has a consumption-driven economy.       The third quarter forecast is higher than the actual GDP growth rates ...]]></description>
<full-text><![CDATA[The Philippine economy is forecast to grow by 1.6 percent to 2.6 percent in the third quarter on back of the steady inflow of remittances from overseas Filipino workers, a senior economic manager said Thursday.       Remittances have bolstered spending in July-September, Philippine Socioeconomic Planning Secretary Augusto B. Santos said in an interview with reporters. The Philippines has a consumption-driven economy.       The third quarter forecast is higher than the actual GDP growth rates posted in the first two quarters of the year.       Santos added that the services sector would have contributed to third quarter GDP growth.       The Philippine government will issue actual GDP growth rate next week.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Philippine President says deficit will not hit 300 bln pesos]]></title>
<news_id>6818411</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818411.html ]]></link>
<pubDate>2009-11-19 20:28:26</pubDate>
<description><![CDATA[Philippine President Gloria Macapagal-Arroyo said Thursday that she's optimistic the country's fiscal deficit will not breach the critical 300 billion pesos (6.4billion U.S. dollar) level.       This, despite Philippine Finance Secretary Margarito Teves's report Wednesday that the fiscal deficit by October this year had reached 266.1 billion pesos (5.7 billion U.S. dollars) -- is over 16 billion pesos (342.6 million U.S. dollars) more than the programmed 250 billion pesos (5.3 billion U.S. dol ...]]></description>
<full-text><![CDATA[Philippine President Gloria Macapagal-Arroyo said Thursday that she's optimistic the country's fiscal deficit will not breach the critical 300 billion pesos (6.4billion U.S. dollar) level.       This, despite Philippine Finance Secretary Margarito Teves's report Wednesday that the fiscal deficit by October this year had reached 266.1 billion pesos (5.7 billion U.S. dollars) -- is over 16 billion pesos (342.6 million U.S. dollars) more than the programmed 250 billion pesos (5.3 billion U.S. dollars) for this year.       As slack revenues can barely meet rising expenditures, Teves forecast the deficit to widen to 280 billion-300 billion pesos (6 billion-6.4 billion U.S. dollars) by the end of this year.       But Deputy Presidential Spokesperson Gary Olivar said in a statement Thursday that while the government is "naturally concerned" about the wide deficit, they're still optimistic that the deficit won't hit 300 billion pesos.       Olivar said the government is seeking ways to boost revenues. These include urging the Congress pass new revenue-raising measures, improving tax administration, privatizing more government assets, and spending government budget funds with care.       Philippine Executive Secretary Eduardo Ermita told reporters in an interview that President Arroyo had ordered economic managers, led by Teves, to keep a close watch over revenue collections.       "You can be sure that this has not slipped the attention of the President," he said.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Philippine President says deficit will not hit 300 bln pesos]]></title>
<news_id>6818411</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818411.html ]]></link>
<pubDate>2009-11-19 20:28:26</pubDate>
<description><![CDATA[Philippine President Gloria Macapagal-Arroyo said Thursday that she's optimistic the country's fiscal deficit will not breach the critical 300 billion pesos (6.4billion U.S. dollar) level.       This, despite Philippine Finance Secretary Margarito Teves's report Wednesday that the fiscal deficit by October this year had reached 266.1 billion pesos (5.7 billion U.S. dollars) -- is over 16 billion pesos (342.6 million U.S. dollars) more than the programmed 250 billion pesos (5.3 billion U.S. dol ...]]></description>
<full-text><![CDATA[Philippine President Gloria Macapagal-Arroyo said Thursday that she's optimistic the country's fiscal deficit will not breach the critical 300 billion pesos (6.4billion U.S. dollar) level.       This, despite Philippine Finance Secretary Margarito Teves's report Wednesday that the fiscal deficit by October this year had reached 266.1 billion pesos (5.7 billion U.S. dollars) -- is over 16 billion pesos (342.6 million U.S. dollars) more than the programmed 250 billion pesos (5.3 billion U.S. dollars) for this year.       As slack revenues can barely meet rising expenditures, Teves forecast the deficit to widen to 280 billion-300 billion pesos (6 billion-6.4 billion U.S. dollars) by the end of this year.       But Deputy Presidential Spokesperson Gary Olivar said in a statement Thursday that while the government is "naturally concerned" about the wide deficit, they're still optimistic that the deficit won't hit 300 billion pesos.       Olivar said the government is seeking ways to boost revenues. These include urging the Congress pass new revenue-raising measures, improving tax administration, privatizing more government assets, and spending government budget funds with care.       Philippine Executive Secretary Eduardo Ermita told reporters in an interview that President Arroyo had ordered economic managers, led by Teves, to keep a close watch over revenue collections.       "You can be sure that this has not slipped the attention of the President," he said.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Thailand to reconsider huge borrowing plan if economy continues to pick up: PM]]></title>
<news_id>6818410</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818410.html ]]></link>
<pubDate>2009-11-19 20:27:49</pubDate>
<description><![CDATA[The Thai government will reconsider if it still needs to borrow a fund worth 200 billion baht (6.02 billion U.S. dollars) to boost the domestic economy, if the economy continues to recover next year, Prime Minister Abhisit Vejjajiva said Thursday.       The money is planned to be injected into the government's second economic stimulus package.       The government is still confident that during this fourth quarter of 2009, the country's economy will post a positive growth rate, Thai News Age ...]]></description>
<full-text><![CDATA[The Thai government will reconsider if it still needs to borrow a fund worth 200 billion baht (6.02 billion U.S. dollars) to boost the domestic economy, if the economy continues to recover next year, Prime Minister Abhisit Vejjajiva said Thursday.       The money is planned to be injected into the government's second economic stimulus package.       The government is still confident that during this fourth quarter of 2009, the country's economy will post a positive growth rate, Thai News Agency quoted Abhisit as saying.       And, for the whole 2009, the Thai economy is estimated to contract 3.0-3.5 percent, Abhisit said.       However, the country's economy in 2010 is expected to grow about 3.5 percent, the prime minister said.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Thailand to reconsider huge borrowing plan if economy continues to pick up: PM]]></title>
<news_id>6818410</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818410.html ]]></link>
<pubDate>2009-11-19 20:27:49</pubDate>
<description><![CDATA[The Thai government will reconsider if it still needs to borrow a fund worth 200 billion baht (6.02 billion U.S. dollars) to boost the domestic economy, if the economy continues to recover next year, Prime Minister Abhisit Vejjajiva said Thursday.       The money is planned to be injected into the government's second economic stimulus package.       The government is still confident that during this fourth quarter of 2009, the country's economy will post a positive growth rate, Thai News Age ...]]></description>
<full-text><![CDATA[The Thai government will reconsider if it still needs to borrow a fund worth 200 billion baht (6.02 billion U.S. dollars) to boost the domestic economy, if the economy continues to recover next year, Prime Minister Abhisit Vejjajiva said Thursday.       The money is planned to be injected into the government's second economic stimulus package.       The government is still confident that during this fourth quarter of 2009, the country's economy will post a positive growth rate, Thai News Agency quoted Abhisit as saying.       And, for the whole 2009, the Thai economy is estimated to contract 3.0-3.5 percent, Abhisit said.       However, the country's economy in 2010 is expected to grow about 3.5 percent, the prime minister said.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Hong Kong stocks finish 0.86% lower]]></title>
<news_id>6818409</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6818409.html ]]></link>
<pubDate>2009-11-19 20:24:17</pubDate>
<description><![CDATA[Hong Kong shares Thursday fell for a third day, with the benchmark index moving down 0.86 percent, or 197.17 points at 22,643.16 due to overnight falls on the Wall Street.       Hang Seng Index opened up 0.24 percent, or 54.51 points at 22, 894.84, which was also the day's high, but was dragged lower by the Dow Jones Industrial Average's fall Wednesday on data showing a sharp decline in U.S. home construction. The index once reached as low as 22,587.18 during the day's session.       Turnove ...]]></description>
<full-text><![CDATA[Hong Kong shares Thursday fell for a third day, with the benchmark index moving down 0.86 percent, or 197.17 points at 22,643.16 due to overnight falls on the Wall Street.       Hang Seng Index opened up 0.24 percent, or 54.51 points at 22, 894.84, which was also the day's high, but was dragged lower by the Dow Jones Industrial Average's fall Wednesday on data showing a sharp decline in U.S. home construction. The index once reached as low as 22,587.18 during the day's session.       Turnover shrank to 69.28 billion HK dollars (about 8.95 billion U. S. dollars) from Wednesday's 76.69 billion HK dollars.       Analysts said they expect the index to consolidate further in the near term before resuming its uptrend, following Wednesday's nearly 16-month intraday high of 23,099.57.       China Enterprises Index dipped 217.03 points, or 1.59 percent, to close at 13,470.98 points.       Four major stock categories ended mixed. The commerce and industry sub-index was down 0.24 percent, the finance, 1.56 percent, while the utilities sub-index went up 0.35 percent, the property, 0.19 percent.       Bucking the trend, heavyweight China Mobile, the largest mobile carrier in China's mainland, advanced 1.71 percent to 77.45 HK dollars, while HSBC Holdings lost 0.98 percent to 95.55 HK dollars. Smaller rival China Unicom dropped 2.06 percent to 10.48 HK dollars.       Local property firms rose on positive news released by the government. Cheung Kong, the flagship of Hong Kong's richest man Li Ka-shing, rose 0.62 percent to 97.45 HK dollars. Henderson Land gained 0.46 percent at 55.05 HK dollars. SHK Properties moved up 0. 34 percent to 117.2 HK dollars.       Mainland-based commercial lenders dived. Bank of China fell 2. 07 percent at 4.73 HK dollars. ICBC dropped 2.42 percent to 6.85 HK dollars. CCB lost 2.45 percent to 7.16 HK dollars.       Energy shares were also losers. PetroChina fell 0.40 percent to10.08 HK dollars, off-shore oil producer CNOOC lost 1.41 percent to 12.56 HK dollars, Sinopec Corp edged down 0.73 percent to 6.84 HK dollars.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[West China sees GDP grow 12.5% in first nine months]]></title>
<news_id>6818408</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/98505/6818408.html ]]></link>
<pubDate>2009-11-19 20:21:44</pubDate>
<description><![CDATA[The gross domestic product (GDP) of China's western regions rose 12.5 percent in the first nine months from a year earlier, China's top economic planner said Thursday.       The growth rate was 4.8 percentage points higher than the national rate, said a statement on the National Development and Reform Commission (NDRC) website.       China launched the "West Development Strategy" in January 2000 to help underdeveloped western regions catch up with the more prosperous eastern regions.       ...]]></description>
<full-text><![CDATA[The gross domestic product (GDP) of China's western regions rose 12.5 percent in the first nine months from a year earlier, China's top economic planner said Thursday.       The growth rate was 4.8 percentage points higher than the national rate, said a statement on the National Development and Reform Commission (NDRC) website.       China launched the "West Development Strategy" in January 2000 to help underdeveloped western regions catch up with the more prosperous eastern regions.       The western regions comprise 12 provinces, autonomous regions and municipality, which have a combined population of about 370 million and account for 71.4 percent of the country's total land area.       Since last year, the regions have suffered the double blow of the global economic downturn and the 8-magnitude earthquake that devastated western Sichuan, Yunnan, Gansu and Shaanxi provinces on May 12, last year.       The government has taken measures to boost consumption in the region and stepped up efforts to reconstruct the quake-stricken areas.       Retail sales in the regions were up 19 percent from the same period last year. The rise was 3.9 percentage points higher than the national level.       The regions also saw fixed-asset investment up 38.9 percent to 3.16 trillion yuan (462.7 billion U.S. dollars), according to the NDRC.       More than 43 percent of investment allocated by the central government to expand domestic demand had been invested in western regions, Premier Wen Jiabao said in a forum on developing the western regions last month.       Local fiscal revenue in the regions rose 14.8 percent, 5 percentage points higher than the average national level, the NDRC said.       As elsewhere in China, the region saw imports and exports down due to weakening foreign demand. Foreign trade volume in the region fell 22.6 percent, according to the NDRC.       In the last 10 years, the central government had provided more than 3.5 trillion yuan to support development of the western regions. GDP of the regions from 2000 to 2008 jumped from 1.66 trillion yuan to 5.82 trillion yuan, at an average annual growth rate of 11.7 percent, Wen said.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[HSBC empowers Indonesian SMEs in tapping global trade market]]></title>
<news_id>6818283</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90776/90883/6818283.html ]]></link>
<pubDate>2009-11-19 20:22:26</pubDate>
<description><![CDATA[The Hong Kong and Shanghai Banking Corporation Limited (HSBC) inked a deal on Thursday with Small Middle Enterprises (SMEs) businesses joined in Indonesian Business Woman Association (IWAPI), aimed at assisting the organization members in anticipating market potentialities.       The cooperation agreement with the IWAPI also made HSBC the first foreign bank operating in Indonesia to provide special business account particularly for Indonesian businesswomen organization.       According to Je ...]]></description>
<full-text><![CDATA[The Hong Kong and Shanghai Banking Corporation Limited (HSBC) inked a deal on Thursday with Small Middle Enterprises (SMEs) businesses joined in Indonesian Business Woman Association (IWAPI), aimed at assisting the organization members in anticipating market potentialities.       The cooperation agreement with the IWAPI also made HSBC the first foreign bank operating in Indonesia to provide special business account particularly for Indonesian businesswomen organization.       According to Jeffrey C Tjoeng, HSBC Indonesian Head of Business Banking, the cooperation agreement also includes cash management and business coaching clinics for the organization that has more than 40,000 SMEs members in 33 provinces across the country.       "The opening of especially-administered business account is very important for them. It would make them have effective and efficient operation system. The business coaching clinics program that embedded with the cooperation agreement would help them to apply best business practices that makes those Indonesian businesswomen fit to compete in domestic and global market," Jeffery told a press conference here.       With the special business account service, HSBC provides various facilities for SMEs firms joined in IWAPI that consisted of lower deposit if compared to that of in regular business account, special transaction rate, free internet banking monthly fee, feasible cash management for the rest of the customer's banking portfolios, integrated and consolidated monthly report and24 hours e-banking service, Jeffrey added.       Prior to the agreement signing, HSBC had gradually provided 100units of computers to enhance the operation SMEs joined in IWAPI since February this year. The computers assistance program was intended to customize the SMEs in conduction transaction via internet banking and consolidating the operation with their colleagues across the country through internet.       HSBC has scheduled the business coaching sessions for the Indonesian businesswomen on November 24 with initial subjects of "property rights" that essential in facing more opened global market in the future.       Jeffrey said that such a service to Indonesian SMEs was part of HSBC Group mission to empower SMEs across the work and in line with HSBC's global business principle that says "World's Local Bank".  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[DPJ passes bill freezing loan repayments for companies ]]></title>
<news_id>6818277</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818277.html ]]></link>
<pubDate>2009-11-19 16:56:42</pubDate>
<description><![CDATA[The Democratic Party of Japan (DPJ) passed a bill on Thursday that will help small- and medium-size companies to hold off debt repayments amid the current dire economic conditions the nation is facing.       The move is in line with the DPJ's manifesto promise to support small- and medium-size businesses.       The bill is the first passed by the DPJ since it won a massive majority in an August election, ending more than half a century of almost interrupted Liberal Democratic Party (LDP) rul ...]]></description>
<full-text><![CDATA[The Democratic Party of Japan (DPJ) passed a bill on Thursday that will help small- and medium-size companies to hold off debt repayments amid the current dire economic conditions the nation is facing.       The move is in line with the DPJ's manifesto promise to support small- and medium-size businesses.       The bill is the first passed by the DPJ since it won a massive majority in an August election, ending more than half a century of almost interrupted Liberal Democratic Party (LDP) rule.       The vote to pass the bill was boycotted by the opposition LDP and its coalition party, the religious party New Komeito.       The bill requests that banks and other lenders extend repayment periods for small- and medium-size businesses, as well as homeowners struggling to meet mortgage demands.       Japan's economy is currently in a weakened state in the aftermath of the credit crisis that started in the United States last year, and the bill aims to keep more companies and households afloat until a sustained recovery is in place.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[DPJ passes bill freezing loan repayments for companies ]]></title>
<news_id>6818277</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818277.html ]]></link>
<pubDate>2009-11-19 16:56:42</pubDate>
<description><![CDATA[The Democratic Party of Japan (DPJ) passed a bill on Thursday that will help small- and medium-size companies to hold off debt repayments amid the current dire economic conditions the nation is facing.       The move is in line with the DPJ's manifesto promise to support small- and medium-size businesses.       The bill is the first passed by the DPJ since it won a massive majority in an August election, ending more than half a century of almost interrupted Liberal Democratic Party (LDP) rul ...]]></description>
<full-text><![CDATA[The Democratic Party of Japan (DPJ) passed a bill on Thursday that will help small- and medium-size companies to hold off debt repayments amid the current dire economic conditions the nation is facing.       The move is in line with the DPJ's manifesto promise to support small- and medium-size businesses.       The bill is the first passed by the DPJ since it won a massive majority in an August election, ending more than half a century of almost interrupted Liberal Democratic Party (LDP) rule.       The vote to pass the bill was boycotted by the opposition LDP and its coalition party, the religious party New Komeito.       The bill requests that banks and other lenders extend repayment periods for small- and medium-size businesses, as well as homeowners struggling to meet mortgage demands.       Japan's economy is currently in a weakened state in the aftermath of the credit crisis that started in the United States last year, and the bill aims to keep more companies and households afloat until a sustained recovery is in place.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Argentina, Brazil move to solve ongoing trade disputes ]]></title>
<news_id>6818227</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818227.html ]]></link>
<pubDate>2009-11-19 16:09:10</pubDate>
<description><![CDATA[The presidents of Brazil and Argentina on Wednesday established a mechanism to solve ongoing trade disputes between the two countries.       Under the mechanism, the commercial ministers of the two countries will meet every 45 days to address trade conflicts caused by the imposition of non-automatic import licensing by both nations.       Presidents Luiz Inacio Lula da Silva of Brazil and Cristina Fernandez de Kirchner of Argentina were also to try to establish a more expeditious system for  ...]]></description>
<full-text><![CDATA[The presidents of Brazil and Argentina on Wednesday established a mechanism to solve ongoing trade disputes between the two countries.       Under the mechanism, the commercial ministers of the two countries will meet every 45 days to address trade conflicts caused by the imposition of non-automatic import licensing by both nations.       Presidents Luiz Inacio Lula da Silva of Brazil and Cristina Fernandez de Kirchner of Argentina were also to try to establish a more expeditious system for perishable and seasonal products and a transparent mechanism for non-automatic licensing to avoid trade disruptions.       Lula said after a meeting with Kirchner that his country wants a "strong, prosperous and competitive" Argentina because that is in line with Brazil's interests.       "Our response to the crisis should be more trade and investment, more businesses and productive integration," he said.       Protectionism was not a solution because it merely created distortions that could be hard to reverse, the Brazilian president said.       Kirchner called for a more balanced trade relationship with Brazil.       "The need to deepen the relationship with Brazil is not momentary. We must address our trade differences with calmness and rationality," Kirchner said.       The Argentina-Brazil trade conflict developed in late 2008 when Argentina began to require non-automatic licensing for a variety of Brazilian products, affecting 15 percent of the goods coming from their neighbor.       In response, Brazil implemented a series of non-automatic licensing on Argentine perishable goods and certain industrial products.    &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Argentina, Brazil move to solve ongoing trade disputes ]]></title>
<news_id>6818227</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6818227.html ]]></link>
<pubDate>2009-11-19 16:09:10</pubDate>
<description><![CDATA[The presidents of Brazil and Argentina on Wednesday established a mechanism to solve ongoing trade disputes between the two countries.       Under the mechanism, the commercial ministers of the two countries will meet every 45 days to address trade conflicts caused by the imposition of non-automatic import licensing by both nations.       Presidents Luiz Inacio Lula da Silva of Brazil and Cristina Fernandez de Kirchner of Argentina were also to try to establish a more expeditious system for  ...]]></description>
<full-text><![CDATA[The presidents of Brazil and Argentina on Wednesday established a mechanism to solve ongoing trade disputes between the two countries.       Under the mechanism, the commercial ministers of the two countries will meet every 45 days to address trade conflicts caused by the imposition of non-automatic import licensing by both nations.       Presidents Luiz Inacio Lula da Silva of Brazil and Cristina Fernandez de Kirchner of Argentina were also to try to establish a more expeditious system for perishable and seasonal products and a transparent mechanism for non-automatic licensing to avoid trade disruptions.       Lula said after a meeting with Kirchner that his country wants a "strong, prosperous and competitive" Argentina because that is in line with Brazil's interests.       "Our response to the crisis should be more trade and investment, more businesses and productive integration," he said.       Protectionism was not a solution because it merely created distortions that could be hard to reverse, the Brazilian president said.       Kirchner called for a more balanced trade relationship with Brazil.       "The need to deepen the relationship with Brazil is not momentary. We must address our trade differences with calmness and rationality," Kirchner said.       The Argentina-Brazil trade conflict developed in late 2008 when Argentina began to require non-automatic licensing for a variety of Brazilian products, affecting 15 percent of the goods coming from their neighbor.       In response, Brazil implemented a series of non-automatic licensing on Argentine perishable goods and certain industrial products.    &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Nikkei falls sharply to four-month closing low ]]></title>
<news_id>6818223</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818223.html ]]></link>
<pubDate>2009-11-19 16:06:47</pubDate>
<description><![CDATA[Nikkei stock index fell sharply Thursday to a four-month closing low near 9,500 as investors began to sell stocks amid growing worries about economic uncertainties.       The benchmark 225-issue Nikkei Stock Average lost 127.33 points, or 1.32 percent, from Wednesday to 9,549.47, its lowest close since July 17, after dipping as low as 9,496.07 at one point.       The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 12.35 points, or 1.45 percent, to 837.71, ...]]></description>
<full-text><![CDATA[Nikkei stock index fell sharply Thursday to a four-month closing low near 9,500 as investors began to sell stocks amid growing worries about economic uncertainties.       The benchmark 225-issue Nikkei Stock Average lost 127.33 points, or 1.32 percent, from Wednesday to 9,549.47, its lowest close since July 17, after dipping as low as 9,496.07 at one point.       The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 12.35 points, or 1.45 percent, to 837.71, its lowest since April 28.       Trading was active with volume on the main section coming to 2,558.25 million shares, up from Wednesday's 2,263.80 million.       The TSE's Second Section index was down 15.29 points, or 0.77 percent, to 1,979.58 on a volume of 54.59 million shares. On the Osaka Securities Exchange, the near-term December Nikkei 225 index futures contract was down 120 points to 9,550.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Nikkei falls sharply to four-month closing low ]]></title>
<news_id>6818223</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818223.html ]]></link>
<pubDate>2009-11-19 16:06:47</pubDate>
<description><![CDATA[Nikkei stock index fell sharply Thursday to a four-month closing low near 9,500 as investors began to sell stocks amid growing worries about economic uncertainties.       The benchmark 225-issue Nikkei Stock Average lost 127.33 points, or 1.32 percent, from Wednesday to 9,549.47, its lowest close since July 17, after dipping as low as 9,496.07 at one point.       The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 12.35 points, or 1.45 percent, to 837.71, ...]]></description>
<full-text><![CDATA[Nikkei stock index fell sharply Thursday to a four-month closing low near 9,500 as investors began to sell stocks amid growing worries about economic uncertainties.       The benchmark 225-issue Nikkei Stock Average lost 127.33 points, or 1.32 percent, from Wednesday to 9,549.47, its lowest close since July 17, after dipping as low as 9,496.07 at one point.       The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 12.35 points, or 1.45 percent, to 837.71, its lowest since April 28.       Trading was active with volume on the main section coming to 2,558.25 million shares, up from Wednesday's 2,263.80 million.       The TSE's Second Section index was down 15.29 points, or 0.77 percent, to 1,979.58 on a volume of 54.59 million shares. On the Osaka Securities Exchange, the near-term December Nikkei 225 index futures contract was down 120 points to 9,550.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Japanese industrial activity posts drop in September ]]></title>
<news_id>6818216</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818216.html ]]></link>
<pubDate>2009-11-19 16:05:52</pubDate>
<description><![CDATA[Industrial activity in Japan dropped by 0.6 percent in September, statistics released by the Ministry of Economy, Trade and Industry showed on Thursday.       The statistics will add to fears that the nation's economic recovery may be going into reverse, as deflation accelerates and improvements in the manufacturing sector fail to translate into better conditions for households.       Construction activity and tertiary industry both fell, by 1.9 percent and 0.5 percent respectively. Industri ...]]></description>
<full-text><![CDATA[Industrial activity in Japan dropped by 0.6 percent in September, statistics released by the Ministry of Economy, Trade and Industry showed on Thursday.       The statistics will add to fears that the nation's economic recovery may be going into reverse, as deflation accelerates and improvements in the manufacturing sector fail to translate into better conditions for households.       Construction activity and tertiary industry both fell, by 1.9 percent and 0.5 percent respectively. Industrial production, however, posted a rise of 2.1 percent, while government services rose by 0.6 percent using the seasonally adjusted index.       The announcement comes at the end of a turbulent week for the Japanese economy, on Monday statistics showed that the domestic demand deflator, which is a key indicator of deflation, slipped by 2.6 percent -- its biggest drop in more than half a century.       The government announced on Tuesday that it will implement an extra budget for this fiscal year to try and deal wit the problems in the economy, but it did not announce the amount it would spend in it.       Japan's economy has suffered dire conditions since the credit crisis that started in the United States reached its shores last year.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Japanese industrial activity posts drop in September ]]></title>
<news_id>6818216</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818216.html ]]></link>
<pubDate>2009-11-19 16:05:52</pubDate>
<description><![CDATA[Industrial activity in Japan dropped by 0.6 percent in September, statistics released by the Ministry of Economy, Trade and Industry showed on Thursday.       The statistics will add to fears that the nation's economic recovery may be going into reverse, as deflation accelerates and improvements in the manufacturing sector fail to translate into better conditions for households.       Construction activity and tertiary industry both fell, by 1.9 percent and 0.5 percent respectively. Industri ...]]></description>
<full-text><![CDATA[Industrial activity in Japan dropped by 0.6 percent in September, statistics released by the Ministry of Economy, Trade and Industry showed on Thursday.       The statistics will add to fears that the nation's economic recovery may be going into reverse, as deflation accelerates and improvements in the manufacturing sector fail to translate into better conditions for households.       Construction activity and tertiary industry both fell, by 1.9 percent and 0.5 percent respectively. Industrial production, however, posted a rise of 2.1 percent, while government services rose by 0.6 percent using the seasonally adjusted index.       The announcement comes at the end of a turbulent week for the Japanese economy, on Monday statistics showed that the domestic demand deflator, which is a key indicator of deflation, slipped by 2.6 percent -- its biggest drop in more than half a century.       The government announced on Tuesday that it will implement an extra budget for this fiscal year to try and deal wit the problems in the economy, but it did not announce the amount it would spend in it.       Japan's economy has suffered dire conditions since the credit crisis that started in the United States reached its shores last year.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea considering to raise its 2010 growth forecast: finance minister]]></title>
<news_id>6818214</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818214.html ]]></link>
<pubDate>2009-11-19 16:03:20</pubDate>
<description><![CDATA[The South Korean government is considering to raise the country's growth forecast for 2010 as the economic is expected to grow even higher than its earlier projection of a 4-percent expansion, Finance Minister Yoon Jeung-hyun said Thursday.       The country's economy is showing a better-than-expected trend, Yoon said at a meeting of heads from major private and state-run think tanks.       According to the country's central bank, gross domestic product (GDP) grew 2.9 percent in the third qu ...]]></description>
<full-text><![CDATA[The South Korean government is considering to raise the country's growth forecast for 2010 as the economic is expected to grow even higher than its earlier projection of a 4-percent expansion, Finance Minister Yoon Jeung-hyun said Thursday.       The country's economy is showing a better-than-expected trend, Yoon said at a meeting of heads from major private and state-run think tanks.       According to the country's central bank, gross domestic product (GDP) grew 2.9 percent in the third quarter from three months earlier. The figure marked the highest since the first quarter of 2002 when the GDP advanced at 3.8 percent on quarter.       However, he noted in order to get over the crisis and prepare for the post-crisis era, now is a really critical time for the country.       The government should delve into how to survive this difficult time and maintain the improving economic trend, Yoon added.       Although some macroeconomic indicators are improving, but the employment situation still remains grim, the minister said.       "With a rebounding economy, oil prices and other commodity costs could surge at anytime, which could serve as yet another drag on the economy," he added.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea considering to raise its 2010 growth forecast: finance minister]]></title>
<news_id>6818214</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6818214.html ]]></link>
<pubDate>2009-11-19 16:03:20</pubDate>
<description><![CDATA[The South Korean government is considering to raise the country's growth forecast for 2010 as the economic is expected to grow even higher than its earlier projection of a 4-percent expansion, Finance Minister Yoon Jeung-hyun said Thursday.       The country's economy is showing a better-than-expected trend, Yoon said at a meeting of heads from major private and state-run think tanks.       According to the country's central bank, gross domestic product (GDP) grew 2.9 percent in the third qu ...]]></description>
<full-text><![CDATA[The South Korean government is considering to raise the country's growth forecast for 2010 as the economic is expected to grow even higher than its earlier projection of a 4-percent expansion, Finance Minister Yoon Jeung-hyun said Thursday.       The country's economy is showing a better-than-expected trend, Yoon said at a meeting of heads from major private and state-run think tanks.       According to the country's central bank, gross domestic product (GDP) grew 2.9 percent in the third quarter from three months earlier. The figure marked the highest since the first quarter of 2002 when the GDP advanced at 3.8 percent on quarter.       However, he noted in order to get over the crisis and prepare for the post-crisis era, now is a really critical time for the country.       The government should delve into how to survive this difficult time and maintain the improving economic trend, Yoon added.       Although some macroeconomic indicators are improving, but the employment situation still remains grim, the minister said.       "With a rebounding economy, oil prices and other commodity costs could surge at anytime, which could serve as yet another drag on the economy," he added.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China's sovereign fund buys 20% stake in clean energy company ]]></title>
<news_id>6818211</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6818211.html ]]></link>
<pubDate>2009-11-19 16:00:11</pubDate>
<description><![CDATA[China Investment Corporation (CIC), the nation's sovereign wealth fund, would spend 5.5 billion HK dollars (709.69 million U.S. dollars) to buy about 20 percent stake in a Hong Kong-based new energy company, said a report posted on CIC's website Thursday.       The company said it had entered into a binding framework agreement with GCL-Poly Energy Holdings Ltd (GCL-Poly), and would subscribe for 3.108 billion new shares at a price of 1.79 HK dollars per share.       The two sides also agreed ...]]></description>
<full-text><![CDATA[China Investment Corporation (CIC), the nation's sovereign wealth fund, would spend 5.5 billion HK dollars (709.69 million U.S. dollars) to buy about 20 percent stake in a Hong Kong-based new energy company, said a report posted on CIC's website Thursday.       The company said it had entered into a binding framework agreement with GCL-Poly Energy Holdings Ltd (GCL-Poly), and would subscribe for 3.108 billion new shares at a price of 1.79 HK dollars per share.       The two sides also agreed to set up a joint venture, or JV Company, to invest and develop photovoltaic or other solar energy projects with an initial capital of 500 million U. S. dollars.       CIC will hold 49 percent shares of the joint-venture, and GCL-Poly, 51 percent.       "This transaction marks an important step for GCL-Poly. With our industry expertise in the renewable and clean energy business and our newly gained financial flexibility, the deal will strengthen our financial position and enhance the company's leading role in the renewable energy industry," said Zhu Gongshan, the company's chairman.       GCL-Poly said in a statement that it intended to use the net proceeds raised from the subscription for general working capital, repayment of borrowings and exploration of new business opportunities, including investment in and development of the joint-venture company.       Founded in 2006, GCL-Poly, is the country's largest polysilicon producer and got listed on the Hong Kong Stock Exchange in 2007.       Shares of GCL-Poly surged 12.21 percent to close at 2.59 HK dollars at the midday while the Hang Seng index dipped 0.53 percent.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Macao's median monthly employment earnings remains stable in Q3]]></title>
<news_id>6818209</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6818209.html ]]></link>
<pubDate>2009-11-19 15:58:28</pubDate>
<description><![CDATA[The median monthly employment earnings of the employed population in Macao amounted to 8,500 patacas (1,076 U.S. dollars) in the third quarter of this year, the same level as that of the second quarter, according to the figures released Thursday by the city's Statistics and Census Service (DSEC).       The figures showed that the median monthly employment earnings of the employed residents held stable as the previous quarter in the period, at 10,000 patacas (1,265 U.S. dollars).       Total  ...]]></description>
<full-text><![CDATA[The median monthly employment earnings of the employed population in Macao amounted to 8,500 patacas (1,076 U.S. dollars) in the third quarter of this year, the same level as that of the second quarter, according to the figures released Thursday by the city's Statistics and Census Service (DSEC).       The figures showed that the median monthly employment earnings of the employed residents held stable as the previous quarter in the period, at 10,000 patacas (1,265 U.S. dollars).       Total labor force in Macao stood at 328,000 in the third quarter, with 316,000 being employed. Analyzed by industry, the majority of the employed were engaging in recreational, cultural, gaming and other services (23.2 percent) and hotels, restaurants and similar activities (14.1 percent).       Meanwhile, the unemployed population was 12,000 in the period, of which 82.4 percent were searching for a new job, while 17.6 percent were fresh labor force entrants searching for their first job. With regard to the educational attainment, 34.6 percent of the unemployed had primary education or lower, 29 percent had junior secondary education and 19.8 percent had senior secondary education, according to the DSEC.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China announces price hikes of electricity for non-resident use ]]></title>
<news_id>6818206</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6818206.html ]]></link>
<pubDate>2009-11-19 15:55:40</pubDate>
<description><![CDATA[China's National Development and Reform Commission, the country's top economic planning agency, announced Thursday to raise the price of electricity for non-resident use by 2.8 cents (0.4 U.S. cents) per kilowatt hour on average nationwide, as of Friday.  &$<i>&$Source:Xinhua&$</i>&$                                                                                                                                                                                                                       ...]]></description>
<full-text><![CDATA[China's National Development and Reform Commission, the country's top economic planning agency, announced Thursday to raise the price of electricity for non-resident use by 2.8 cents (0.4 U.S. cents) per kilowatt hour on average nationwide, as of Friday.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Chinese shares rise for fifth straight day ]]></title>
<news_id>6818197</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6818197.html ]]></link>
<pubDate>2009-11-19 15:47:42</pubDate>
<description><![CDATA[Chinese equities rose for fifth straight day Thursday, with the benchmark Shanghai Composite Indexup 0.53 percent, or 17.38 points, to close at 3,320.61.       The Shenzhen Component Index increased 0.42 percent, or 57.20 points, to close at 13,699.55.       Combined turnover jumped to 320.20 billion yuan (47.09 billion U.S. dollars) from 233.04 billion yuan on the previous trading day.       All of the 28 shares in the ChiNext market for start-up stocks were up.   &$<i>&$Source:Xinhua&$ ...]]></description>
<full-text><![CDATA[Chinese equities rose for fifth straight day Thursday, with the benchmark Shanghai Composite Indexup 0.53 percent, or 17.38 points, to close at 3,320.61.       The Shenzhen Component Index increased 0.42 percent, or 57.20 points, to close at 13,699.55.       Combined turnover jumped to 320.20 billion yuan (47.09 billion U.S. dollars) from 233.04 billion yuan on the previous trading day.       All of the 28 shares in the ChiNext market for start-up stocks were up.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Macao's gaming revenue reaches $14 bln in 2008 ]]></title>
<news_id>6818191</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6818191.html ]]></link>
<pubDate>2009-11-19 15:45:10</pubDate>
<description><![CDATA[The gross revenue of Macao's casinos saw a year-on-year rise of 30.5 percent in 2008, according to statistics released Thursday by the city's Statistics and Census Service (DSEC).       The figures showed that total receipts of the gaming sector amounted to 111.17 billion patacas (14.7 billion U.S. dollars), of which receipts from gaming and related services amounted to 111.01billion patacas (14.5 billion U.S. dollars). Interest receipts dropped by 31.3 percent to 162 million patacas (20.5 mil ...]]></description>
<full-text><![CDATA[The gross revenue of Macao's casinos saw a year-on-year rise of 30.5 percent in 2008, according to statistics released Thursday by the city's Statistics and Census Service (DSEC).       The figures showed that total receipts of the gaming sector amounted to 111.17 billion patacas (14.7 billion U.S. dollars), of which receipts from gaming and related services amounted to 111.01billion patacas (14.5 billion U.S. dollars). Interest receipts dropped by 31.3 percent to 162 million patacas (20.5 million U.S. dollars).       Meanwhile, total expenditure of the gaming sector reached 57.99billion patacas (734 million U.S. dollars), up notably by 29.9 percent, with purchase of goods and commission paid soaring by 37.7 percent from 2007 to 32.95 billion patacas (4.17 billion U.S. dollars).       According to the figures, gaming sector's gross value added that measures the sectoral contribution to the economy also went up by 31.0 percent to 67.19 billion patacas (8.5 billion U.S. dollars). However, gross fixed capital formation fell sharply by 88.3 percent upon conclusion of the construction of major tourism and gaming facilities, as well as suspension of other projects.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Chinese Fosun Pharma rises on acquisition deal]]></title>
<news_id>6818189</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6818189.html ]]></link>
<pubDate>2009-11-19 15:43:45</pubDate>
<description><![CDATA[Shanghai Fosun Pharmaceuticals (Group) Co., or Fosun Pharma, rises slightly Thursday morning at the Shanghai Stock Exchange after it announced to have bought stake in the Nasdaq-listed Chindex International Inc.       Fosun Pharma shares gained 0.28 percent to 21.20 yuan (3.1 U.S. dollars) in the morning trading session.       A Hong Kong-based subsidiary of Fosun Pharma, a leading Chinese pharmaceutical company, paid 22 million U.S. dollars for 11.18 percent stake in Chindex International I ...]]></description>
<full-text><![CDATA[Shanghai Fosun Pharmaceuticals (Group) Co., or Fosun Pharma, rises slightly Thursday morning at the Shanghai Stock Exchange after it announced to have bought stake in the Nasdaq-listed Chindex International Inc.       Fosun Pharma shares gained 0.28 percent to 21.20 yuan (3.1 U.S. dollars) in the morning trading session.       A Hong Kong-based subsidiary of Fosun Pharma, a leading Chinese pharmaceutical company, paid 22 million U.S. dollars for 11.18 percent stake in Chindex International Inc. , a U.S.-based medical services and instruments provider, according to its statement to the Shanghai Stock Exchange on Thursday.       Chindex International Inc. closed at 15.87 U.S. dollars per share at Nasdaq on Wednesday, down 1.18 percent from the previous close.       For the first half of 2009, Fosun Pharma's net assets per share was 3.40 yuan, earning 0.28 yuan per share, and its operating revenue increased 8.23 percent year on year to 1.8 billion yuan.       Fosun Pharma mainly focuses on research, development, production and distribution of pharmaceutical products in China.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Annual output value of green pollution-free food hit 60 mln yuan in Lhasa]]></title>
<news_id>6818160</news_id>
<link><![CDATA[ http://english.people.com.cn/6818160.html ]]></link>
<pubDate>2009-11-19 15:21:16</pubDate>
<description><![CDATA[Green pollution-free vegetable planting base with the area of 5,000 mu has achieved annual production up to 7,000 kg / mu and the annual output value of more than 60 million yuan.  Jigme, deputy of Lhasa subsidiary food office said:" The green pollution-free food production industry started late in Lhasa but it develops rapidly with the area of planting base from 2,000 mu enlarge to 5000 mu in one year. With the improvement of people's living standard, citizens pay more attention on eating hea ...]]></description>
<full-text><![CDATA[Green pollution-free vegetable planting base with the area of 5,000 mu has achieved annual production up to 7,000 kg / mu and the annual output value of more than 60 million yuan.  Jigme, deputy of Lhasa subsidiary food office said:" The green pollution-free food production industry started late in Lhasa but it develops rapidly with the area of planting base from 2,000 mu enlarge to 5000 mu in one year. With the improvement of people's living standard, citizens pay more attention on eating healthy food, which makes pollution-free vegetables hot on the markets."  Besides, the green pollution-free food products in Lhasa have passed food sampling tests by related departments.  &$<i>&$Source:China Tibet Information Center&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Tibet steps ups efforts to develop ports of entry ]]></title>
<news_id>6818154</news_id>
<link><![CDATA[ http://english.people.com.cn/6818154.html ]]></link>
<pubDate>2009-11-19 15:09:03</pubDate>
<description><![CDATA[The Tibet Autonomous Regional Government has been stepping up its efforts to develop the ports of entry as the border trade between Tibet and Nepal and India is growing fast.       As the large-scale upgrading of the Chinese-Nepal Highway was completed earlier this year, the Zham Port of Entry on the Tibet-Nepal border can be reached by bus from Lhasa within one day.   Construction of a new joint customs inspection building in Zham was also finished earlier this year. Zham, the largest port  ...]]></description>
<full-text><![CDATA[The Tibet Autonomous Regional Government has been stepping up its efforts to develop the ports of entry as the border trade between Tibet and Nepal and India is growing fast.       As the large-scale upgrading of the Chinese-Nepal Highway was completed earlier this year, the Zham Port of Entry on the Tibet-Nepal border can be reached by bus from Lhasa within one day.   Construction of a new joint customs inspection building in Zham was also finished earlier this year. Zham, the largest port of entry in Tibet, is expected to play a greater role in trade between Tibet and other southern Asian countries.       Meanwhile, with a total funding of 1.2 billion yuan (175.8 million U.S. dollars), Tibet has accelerated construction of infrastructure at Gyirong Port of Entry, including transport services, energy and communications facilities.   Gyirong will also build a storage processing center and a logistic park to enhance border trade, at a total cost of 140 million yuan.       In the meantime, the Tibet Regional Government has made greater efforts to open up and develop the Yadong Port of Entry on the China-India border.       With the construction of the Lhasa-Xigaze branch line of the Qinghai-Tibet Railway, the cost of transportation between Yadong and other parts of Tibet will fall substantially.       Tibet's total import and export volume is expected to top one billion U.S. dollars next year, according to Tibet's Commerce Department.   &$<i>&$Source: Xinhuanet&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[SOE revenues rally in first ten months ]]></title>
<news_id>6818114</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6818114.html ]]></link>
<pubDate>2009-11-19 16:19:23</pubDate>
<description><![CDATA[Statistics released by the Ministry of Finance (MOF) showed that from January to October this year, State-owned enterprises (SOEs) had accumulatively realized revenues of 17.87 trillion yuan, up by 0.5 percent year-on-year. This is the first positive growth for revenues in 2009.   In 2009 the operational situation of SOEs has been improving, especially from June when revenues dropped less drastically compared to the same period last year. According to the data released by MOF, SOE revenues fel ...]]></description>
<full-text><![CDATA[Statistics released by the Ministry of Finance (MOF) showed that from January to October this year, State-owned enterprises (SOEs) had accumulatively realized revenues of 17.87 trillion yuan, up by 0.5 percent year-on-year. This is the first positive growth for revenues in 2009.   In 2009 the operational situation of SOEs has been improving, especially from June when revenues dropped less drastically compared to the same period last year. According to the data released by MOF, SOE revenues fell by 8.1 percent year-on-year from January to February, and dropped by 7.4 percent compared with the previous year from January to May. The recovery went at slow pace. But beginning from January to June, their revenues saw an obvious rising trend of growth.  Profits of State-owned enterprises have also shown good growth. From January to October, SOEs achieved 1.06 trillion yuan profits accumulatively, declining by 10.6 percent year-on-year. The decline rate was 7 percentage points lower than that for the first nine months. SOE profits in the first two months decreased by 45.7 percent year-on-year. However, in recent months, the decline rate of SOE revenues has been much slower.  "SOE profits must be in positive growth at the end of 2009," Feng Yuming, a macro-economy analyst said. At present, SOE revenues are still surging and the base number of last year was comparatively low, so in the next two months their revenues may not only realize the positive growth, but also have the growth rate of over 10 percent, Feng analyzed.  &$<i>&$By People's Daily Online&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Singapore economy expected to grow in 2010 ]]></title>
<news_id>6817843</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817843.html ]]></link>
<pubDate>2009-11-19 11:22:09</pubDate>
<description><![CDATA[ Singapore's Ministry of Trade and Industry (MTI) announced Thursday it expects the Singapore economy to grow by 3.0 to 5.0 percent in 2010, and maintained the gross domestic product (GDP) growth forecast for 2009 at minus 2.5 to minus 2.0 percent.       The MTI said in a statement that preliminary estimates show that the Singapore economy grew by 0.6 percent on a year-on-year basis in the third quarter of 2009, compared to a contraction of 3.3 percent in the second quarter. On a seasonally ad ...]]></description>
<full-text><![CDATA[ Singapore's Ministry of Trade and Industry (MTI) announced Thursday it expects the Singapore economy to grow by 3.0 to 5.0 percent in 2010, and maintained the gross domestic product (GDP) growth forecast for 2009 at minus 2.5 to minus 2.0 percent.       The MTI said in a statement that preliminary estimates show that the Singapore economy grew by 0.6 percent on a year-on-year basis in the third quarter of 2009, compared to a contraction of 3.3 percent in the second quarter. On a seasonally adjusted annualized quarter-on-quarter basis, the economy expanded by 14.2 percent in the third quarter of 2009, following growth of 21.7 percent in the second quarter, with all major sectors registering positive growth.       The MTI said that global economic developments suggest that the recession has ended in most countries. Singapore's economic outlook for 2010 will be closely linked to global conditions.       "Asia is likely to continue to post positive growth rates," the MTI said, however, it added that "a sluggish recovery in final demand in the advanced economies will moderate Singapore's growth prospects in 2010." The MTI expects Singapore's economic growth in 2010 to be 3.0 to 5.0 percent.       For 2010, the consumer price index inflation forecast has been revised from 1.0-2.0 percent to 2.5-3.5 percent. The MTI said the upward revision is attributable to the recent revision in the annual values of government built properties as announced by the Inland Revenue Authority of Singapore.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Singapore economy expected to grow in 2010 ]]></title>
<news_id>6817843</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817843.html ]]></link>
<pubDate>2009-11-19 11:22:09</pubDate>
<description><![CDATA[ Singapore's Ministry of Trade and Industry (MTI) announced Thursday it expects the Singapore economy to grow by 3.0 to 5.0 percent in 2010, and maintained the gross domestic product (GDP) growth forecast for 2009 at minus 2.5 to minus 2.0 percent.       The MTI said in a statement that preliminary estimates show that the Singapore economy grew by 0.6 percent on a year-on-year basis in the third quarter of 2009, compared to a contraction of 3.3 percent in the second quarter. On a seasonally ad ...]]></description>
<full-text><![CDATA[ Singapore's Ministry of Trade and Industry (MTI) announced Thursday it expects the Singapore economy to grow by 3.0 to 5.0 percent in 2010, and maintained the gross domestic product (GDP) growth forecast for 2009 at minus 2.5 to minus 2.0 percent.       The MTI said in a statement that preliminary estimates show that the Singapore economy grew by 0.6 percent on a year-on-year basis in the third quarter of 2009, compared to a contraction of 3.3 percent in the second quarter. On a seasonally adjusted annualized quarter-on-quarter basis, the economy expanded by 14.2 percent in the third quarter of 2009, following growth of 21.7 percent in the second quarter, with all major sectors registering positive growth.       The MTI said that global economic developments suggest that the recession has ended in most countries. Singapore's economic outlook for 2010 will be closely linked to global conditions.       "Asia is likely to continue to post positive growth rates," the MTI said, however, it added that "a sluggish recovery in final demand in the advanced economies will moderate Singapore's growth prospects in 2010." The MTI expects Singapore's economic growth in 2010 to be 3.0 to 5.0 percent.       For 2010, the consumer price index inflation forecast has been revised from 1.0-2.0 percent to 2.5-3.5 percent. The MTI said the upward revision is attributable to the recent revision in the annual values of government built properties as announced by the Inland Revenue Authority of Singapore.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Brazil registers fewer returned checks thanks to improved credits, more jobs]]></title>
<news_id>6817754</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817754.html ]]></link>
<pubDate>2009-11-19 11:14:18</pubDate>
<description><![CDATA[Due to lowered interest rates and more formal jobs, Brazil has seen the rate of returned checks drop to a 13-month low in October, the country's private financial data analysis firm said Wednesday.       Serasa said in its report that 1.92 percent of the checks were returned by banks in October for a one-percentage point drop as against September.       The data analysis firm attributed the drop to lower interest rates and the creation of over 1 million formal jobs in the first 10 months of  ...]]></description>
<full-text><![CDATA[Due to lowered interest rates and more formal jobs, Brazil has seen the rate of returned checks drop to a 13-month low in October, the country's private financial data analysis firm said Wednesday.       Serasa said in its report that 1.92 percent of the checks were returned by banks in October for a one-percentage point drop as against September.       The data analysis firm attributed the drop to lower interest rates and the creation of over 1 million formal jobs in the first 10 months of the year.       It predicted further drops in November and December in returned checks as the country is to celebrate the Christmas holidays with bonuses to be offered to workers.       Checks are returned by banks for lack of sufficient funds in the accounts on which the checks were written.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Brazil registers fewer returned checks thanks to improved credits, more jobs]]></title>
<news_id>6817754</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817754.html ]]></link>
<pubDate>2009-11-19 11:14:18</pubDate>
<description><![CDATA[Due to lowered interest rates and more formal jobs, Brazil has seen the rate of returned checks drop to a 13-month low in October, the country's private financial data analysis firm said Wednesday.       Serasa said in its report that 1.92 percent of the checks were returned by banks in October for a one-percentage point drop as against September.       The data analysis firm attributed the drop to lower interest rates and the creation of over 1 million formal jobs in the first 10 months of  ...]]></description>
<full-text><![CDATA[Due to lowered interest rates and more formal jobs, Brazil has seen the rate of returned checks drop to a 13-month low in October, the country's private financial data analysis firm said Wednesday.       Serasa said in its report that 1.92 percent of the checks were returned by banks in October for a one-percentage point drop as against September.       The data analysis firm attributed the drop to lower interest rates and the creation of over 1 million formal jobs in the first 10 months of the year.       It predicted further drops in November and December in returned checks as the country is to celebrate the Christmas holidays with bonuses to be offered to workers.       Checks are returned by banks for lack of sufficient funds in the accounts on which the checks were written.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Study: Brazilian GDP less dependent on most developed region ]]></title>
<news_id>6817745</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817745.html ]]></link>
<pubDate>2009-11-19 11:09:49</pubDate>
<description><![CDATA[The contribution of Brazil's southeastern developed region to the country's GDP fell sharply, reflecting the growth of other regions in development, according to the announcement of the Brazilian Institute of Geography and Statistics (IBGE) Wednesday.       Brazil's largest markets, Sao Paulo and Rio de Janeiro, are located in the most developed southeastern region. Sao Paulo state alone contains about one third of Brazil's entire industry sector. By contrast, the northeastern and northern reg ...]]></description>
<full-text><![CDATA[The contribution of Brazil's southeastern developed region to the country's GDP fell sharply, reflecting the growth of other regions in development, according to the announcement of the Brazilian Institute of Geography and Statistics (IBGE) Wednesday.       Brazil's largest markets, Sao Paulo and Rio de Janeiro, are located in the most developed southeastern region. Sao Paulo state alone contains about one third of Brazil's entire industry sector. By contrast, the northeastern and northern regions are the poorest in Brazil.       According to the IBGE, the southeastern region's contribution to the Brazilian GDP fell from 59.1 percent in 1995 to 56.4 percent in 2007. In the same period, the contribution of the northeastern region to the GDP rose from 12 to 13.1 percent, and the northern region's contribution rose from 4.2 to 5 percent.       Although the eight states with the highest GDP contribution remain Sao Paulo, Rio de Janeiro, Minas Gerais, Rio Grande do Sul, Parana, Bahia, Santa Catarina and the Federal District, the same as from 1995 to 2007, their combined contribution to the GDP fell from 81.5 to 78.7 percent.       Among the eight states, three registered a decrease in contribution, four registered an increase and one remained stable. The most significant fall was registered in Sao Paulo state, whose contribution to Brazil's GDP fell from 37.3 in 1995 to 33.9 percent in 2007.       Rio de Janeiro state's participation remained at 11.2 percent in the period, while Minas Gerais state's participation rose from 8.6 to 9.1 percent.       Brazil's Federal District remained the country's highest per capita GDP at 40,696 reais (23,798 U.S. dollars). The lowest per capita GDP, 4,662 reais (2,726 U.S. dollars), was registered in Piaui state in the northeastern region.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Study: Brazilian GDP less dependent on most developed region ]]></title>
<news_id>6817745</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817745.html ]]></link>
<pubDate>2009-11-19 11:09:49</pubDate>
<description><![CDATA[The contribution of Brazil's southeastern developed region to the country's GDP fell sharply, reflecting the growth of other regions in development, according to the announcement of the Brazilian Institute of Geography and Statistics (IBGE) Wednesday.       Brazil's largest markets, Sao Paulo and Rio de Janeiro, are located in the most developed southeastern region. Sao Paulo state alone contains about one third of Brazil's entire industry sector. By contrast, the northeastern and northern reg ...]]></description>
<full-text><![CDATA[The contribution of Brazil's southeastern developed region to the country's GDP fell sharply, reflecting the growth of other regions in development, according to the announcement of the Brazilian Institute of Geography and Statistics (IBGE) Wednesday.       Brazil's largest markets, Sao Paulo and Rio de Janeiro, are located in the most developed southeastern region. Sao Paulo state alone contains about one third of Brazil's entire industry sector. By contrast, the northeastern and northern regions are the poorest in Brazil.       According to the IBGE, the southeastern region's contribution to the Brazilian GDP fell from 59.1 percent in 1995 to 56.4 percent in 2007. In the same period, the contribution of the northeastern region to the GDP rose from 12 to 13.1 percent, and the northern region's contribution rose from 4.2 to 5 percent.       Although the eight states with the highest GDP contribution remain Sao Paulo, Rio de Janeiro, Minas Gerais, Rio Grande do Sul, Parana, Bahia, Santa Catarina and the Federal District, the same as from 1995 to 2007, their combined contribution to the GDP fell from 81.5 to 78.7 percent.       Among the eight states, three registered a decrease in contribution, four registered an increase and one remained stable. The most significant fall was registered in Sao Paulo state, whose contribution to Brazil's GDP fell from 37.3 in 1995 to 33.9 percent in 2007.       Rio de Janeiro state's participation remained at 11.2 percent in the period, while Minas Gerais state's participation rose from 8.6 to 9.1 percent.       Brazil's Federal District remained the country's highest per capita GDP at 40,696 reais (23,798 U.S. dollars). The lowest per capita GDP, 4,662 reais (2,726 U.S. dollars), was registered in Piaui state in the northeastern region.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Bolivia approves contract with China for $60 mln loan]]></title>
<news_id>6817743</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6817743.html ]]></link>
<pubDate>2009-11-19 11:05:03</pubDate>
<description><![CDATA[The Bolivian government on Wednesday approved a supreme decree authorizing a contract with the People's Bank of China, China's central bank for a 60 million-U.S.-dollar loan, which will be used to improve Bolivia's hydrocarbons sector.       Bolivian Hydrocarbons Minister Oscar Coca told a press conference in the Quemado Palace that the sum of money will go to the extension of domestic gas networks and the purchase of two drilling rigs for state-run oil company, Yacimientos Petroliferos Fiscal ...]]></description>
<full-text><![CDATA[The Bolivian government on Wednesday approved a supreme decree authorizing a contract with the People's Bank of China, China's central bank for a 60 million-U.S.-dollar loan, which will be used to improve Bolivia's hydrocarbons sector.       Bolivian Hydrocarbons Minister Oscar Coca told a press conference in the Quemado Palace that the sum of money will go to the extension of domestic gas networks and the purchase of two drilling rigs for state-run oil company, Yacimientos Petroliferos Fiscales Bolivianos (YPFB).       The loan is for a term of 20 years, with an annual interest rate of 2 percent, he said, adding that a part of the loan will be used to finish 100,000 domestic gas networks, and 31 million dollars will go to purchasing two drilling rigs.       Coca also urged the legislative to approve the credit request.       "The legal measure to request this credit was approved by the Cabinet and now we are waiting for the Senate to make it viable as soon as possible," he said.       Bolivia considers China as a strategic cooperation partner. China has offered donations and loans to Bolivia for its social development projects.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Beijing Vantone rises on acquisition deal ]]></title>
<news_id>6817725</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817725.html ]]></link>
<pubDate>2009-11-19 11:02:19</pubDate>
<description><![CDATA[Beijing Vantone Real Estate Co. (BVRE) rose on Thursday morning after it announced to buy the stake the Chengdu Jiaoda Real Estate takes in another property developer.       BVRE shares gained 1.19 percent to 11.95 yuan as of 9:51 a.m. in the morning trade.       BVRE would pay 71.15 million yuan (10.42 million U.S. dollars) in cash buy the 49 percent stake Chengdu Jiaoda held in the Chengdu Vantone Shishang Co. Ltd., a joint venture between Vantone and Jiaoda, according to its statement to  ...]]></description>
<full-text><![CDATA[Beijing Vantone Real Estate Co. (BVRE) rose on Thursday morning after it announced to buy the stake the Chengdu Jiaoda Real Estate takes in another property developer.       BVRE shares gained 1.19 percent to 11.95 yuan as of 9:51 a.m. in the morning trade.       BVRE would pay 71.15 million yuan (10.42 million U.S. dollars) in cash buy the 49 percent stake Chengdu Jiaoda held in the Chengdu Vantone Shishang Co. Ltd., a joint venture between Vantone and Jiaoda, according to its statement to the Shanghai Stock Exchange late Wednesday.       The deal would make BVRE the 100 percent stake holder of the Chengdu Vantone Shishang, which was established in October of this year with BVRE taking 51 percent stake and Chengdu Jiaoda taking the rest.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Chinese shares open slightly higher Thursday ]]></title>
<news_id>6817718</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817718.html ]]></link>
<pubDate>2009-11-19 10:56:32</pubDate>
<description><![CDATA[Chinese shares opened slightly higher on Thursday with the benchmark Shanghai Composite Index up 0.24 percent to open at 3,311.19 points.       The Shenzhen Component Index climbed 0.20 percent to 13,669.53 points at the opening.   &$<i>&$Source:Xinhua&$</i>&$                                                                                                                                                                                                                                             ...]]></description>
<full-text><![CDATA[Chinese shares opened slightly higher on Thursday with the benchmark Shanghai Composite Index up 0.24 percent to open at 3,311.19 points.       The Shenzhen Component Index climbed 0.20 percent to 13,669.53 points at the opening.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Concluding Doha Round could boost recovery and bring significant gains: World Bank ]]></title>
<news_id>6817438</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817438.html ]]></link>
<pubDate>2009-11-19 09:26:51</pubDate>
<description><![CDATA[Countries can contribute to a more robust recovery from the global recession by rapidly concluding the Doha Development Round (DDA), which could bring up to 160 billion dollars in gains, a World Bank research paper said on Wednesday.       Released just days before the World Trade Organization (WTO)'s ministerial meeting in Geneva on Nov. 30, "Conclude Doha: It Matters!" notes that now more than ever the completion of the Dohadeal is a must, as it would create new market access, lock in existi ...]]></description>
<full-text><![CDATA[Countries can contribute to a more robust recovery from the global recession by rapidly concluding the Doha Development Round (DDA), which could bring up to 160 billion dollars in gains, a World Bank research paper said on Wednesday.       Released just days before the World Trade Organization (WTO)'s ministerial meeting in Geneva on Nov. 30, "Conclude Doha: It Matters!" notes that now more than ever the completion of the Dohadeal is a must, as it would create new market access, lock in existing market access openness, and boost real income for the world.       "There is a significant deal on the table that will help the global economy get out of the recession," said Bernard Hoekman, World Bank Director for Trade. "A conclusion of the Doha Round will reduce the probability of protectionism, help reduce fiscal pressures by imposing limits on subsidies, and improve prospects for trade policy cooperation in other critical areas such as climate change."       According to the working paper, prepared by Hoekman, Will Martin and Aaditya Mattoo, despite outstanding disagreements - on agricultural safeguards, the extent of liberalization commitments for merchandise trade, and the coverage of additional services commitments -- the benefits of what is now on the table are larger than what many skeptics think.       According to the document, even by taking into account likely product exceptions and sensitivities, the modalities under consideration will generate increased trade that in turn could produce an additional 160 billion dollars in real income for the world.       Average farm tariffs exporters face would fall to 12 percent, down from 14.5 percent, and the tariffs on exports of manufacturers to less than 2.5 percent, down from about 3 percent.       Just as important, there are substantial opportunities for the DDA to deliver enhanced security of market access for services activities -- which account for 60-75 percent of total employment and production in many countries, said the research.       Global trade volumes are expected to decline by some 10 percent in 2009. As an unavoidable consequence of the collapse in demand, trade will be critical for the recovery, especially for the many developing countries with small domestic markets that rely heavily on external markets as a source of employment and foreign exchange.       Apart from constraining the scope for tariff protection in all goods, the DDA would ban agricultural export subsidies in the industrial countries and sharply reduce the scope for distorting domestic support -- by 70 percent in the European Union (EU) and 60 percent in the United States.       On the environmental front, "Conclude Doha: It Matters!" notes there will be benefits from disciplining the use of subsidies that encourage over-fishing and from lowering tariffs on technologies that can reduce global warming.       Over 75 percent of global fish stocks -- crucial for food security in many developing countries -- are over-exploited with a resulting annual loss for the world economy of 50 billion dollars.       According to the working paper, developing countries will benefit from a Doha deal as a result of reductions in high "peak" tariffs that&amp ]]></full-text>
</item>
<item>
<title><![CDATA[Concluding Doha Round could boost recovery and bring significant gains: World Bank ]]></title>
<news_id>6817438</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817438.html ]]></link>
<pubDate>2009-11-19 09:26:51</pubDate>
<description><![CDATA[Countries can contribute to a more robust recovery from the global recession by rapidly concluding the Doha Development Round (DDA), which could bring up to 160 billion dollars in gains, a World Bank research paper said on Wednesday.       Released just days before the World Trade Organization (WTO)'s ministerial meeting in Geneva on Nov. 30, "Conclude Doha: It Matters!" notes that now more than ever the completion of the Dohadeal is a must, as it would create new market access, lock in existi ...]]></description>
<full-text><![CDATA[Countries can contribute to a more robust recovery from the global recession by rapidly concluding the Doha Development Round (DDA), which could bring up to 160 billion dollars in gains, a World Bank research paper said on Wednesday.       Released just days before the World Trade Organization (WTO)'s ministerial meeting in Geneva on Nov. 30, "Conclude Doha: It Matters!" notes that now more than ever the completion of the Dohadeal is a must, as it would create new market access, lock in existing market access openness, and boost real income for the world.       "There is a significant deal on the table that will help the global economy get out of the recession," said Bernard Hoekman, World Bank Director for Trade. "A conclusion of the Doha Round will reduce the probability of protectionism, help reduce fiscal pressures by imposing limits on subsidies, and improve prospects for trade policy cooperation in other critical areas such as climate change."       According to the working paper, prepared by Hoekman, Will Martin and Aaditya Mattoo, despite outstanding disagreements - on agricultural safeguards, the extent of liberalization commitments for merchandise trade, and the coverage of additional services commitments -- the benefits of what is now on the table are larger than what many skeptics think.       According to the document, even by taking into account likely product exceptions and sensitivities, the modalities under consideration will generate increased trade that in turn could produce an additional 160 billion dollars in real income for the world.       Average farm tariffs exporters face would fall to 12 percent, down from 14.5 percent, and the tariffs on exports of manufacturers to less than 2.5 percent, down from about 3 percent.       Just as important, there are substantial opportunities for the DDA to deliver enhanced security of market access for services activities -- which account for 60-75 percent of total employment and production in many countries, said the research.       Global trade volumes are expected to decline by some 10 percent in 2009. As an unavoidable consequence of the collapse in demand, trade will be critical for the recovery, especially for the many developing countries with small domestic markets that rely heavily on external markets as a source of employment and foreign exchange.       Apart from constraining the scope for tariff protection in all goods, the DDA would ban agricultural export subsidies in the industrial countries and sharply reduce the scope for distorting domestic support -- by 70 percent in the European Union (EU) and 60 percent in the United States.       On the environmental front, "Conclude Doha: It Matters!" notes there will be benefits from disciplining the use of subsidies that encourage over-fishing and from lowering tariffs on technologies that can reduce global warming.       Over 75 percent of global fish stocks -- crucial for food security in many developing countries -- are over-exploited with a resulting annual loss for the world economy of 50 billion dollars.       According to the working paper, developing countries will benefit from a Doha deal as a result of reductions in high "peak" tariffs that&amp ]]></full-text>
</item>
<item>
<title><![CDATA[Maiden flight of Air France's A380 imminent ]]></title>
<news_id>6817432</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817432.html ]]></link>
<pubDate>2009-11-19 09:25:09</pubDate>
<description><![CDATA[Air France is going to lift up its first A380 on Friday from Roissy airport on the Paris-New York route, thus becoming the first European airway company to put the superjumbo into service.       The inaugural flight is expected to begin from Paris at 11:45 local time and arrive at New York at 13:20 local time, with 538 passengers on board.       Among the passengers, 380 are fans of the superjumbo, who bid for the seats in online auctions through eBay, while the others are guests invited by  ...]]></description>
<full-text><![CDATA[Air France is going to lift up its first A380 on Friday from Roissy airport on the Paris-New York route, thus becoming the first European airway company to put the superjumbo into service.       The inaugural flight is expected to begin from Paris at 11:45 local time and arrive at New York at 13:20 local time, with 538 passengers on board.       Among the passengers, 380 are fans of the superjumbo, who bid for the seats in online auctions through eBay, while the others are guests invited by Air France and conductors of the company.       To boosting A380's maiden flight over the Atlantic linking Europe and North America, Air France launched an online bidding for 380 seats on the airliner in October. The company promised to donate the earnings of the auction to charity organizations, but until now has not revealed the exact amount of the earnings.       Air France's first A380 will fly back from New York on Saturday, a symbolic gesture to reopen the Paris-New York course since its Concorde flight quit the line in 2003.       Air France has ordered from Airbus 12 of the giant jets, each with a capacity of 538 passengers -- nine for first class, 80 for business class and 449 for economy class.       The double-decked Airbus A380 made its maiden flight on April 27, 2005 from Toulouse, France, and made its first commercial flight on Oct. 25, 2007 from Singapore to Sydney with Singapore Airlines.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Maiden flight of Air France's A380 imminent ]]></title>
<news_id>6817432</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817432.html ]]></link>
<pubDate>2009-11-19 09:25:09</pubDate>
<description><![CDATA[Air France is going to lift up its first A380 on Friday from Roissy airport on the Paris-New York route, thus becoming the first European airway company to put the superjumbo into service.       The inaugural flight is expected to begin from Paris at 11:45 local time and arrive at New York at 13:20 local time, with 538 passengers on board.       Among the passengers, 380 are fans of the superjumbo, who bid for the seats in online auctions through eBay, while the others are guests invited by  ...]]></description>
<full-text><![CDATA[Air France is going to lift up its first A380 on Friday from Roissy airport on the Paris-New York route, thus becoming the first European airway company to put the superjumbo into service.       The inaugural flight is expected to begin from Paris at 11:45 local time and arrive at New York at 13:20 local time, with 538 passengers on board.       Among the passengers, 380 are fans of the superjumbo, who bid for the seats in online auctions through eBay, while the others are guests invited by Air France and conductors of the company.       To boosting A380's maiden flight over the Atlantic linking Europe and North America, Air France launched an online bidding for 380 seats on the airliner in October. The company promised to donate the earnings of the auction to charity organizations, but until now has not revealed the exact amount of the earnings.       Air France's first A380 will fly back from New York on Saturday, a symbolic gesture to reopen the Paris-New York course since its Concorde flight quit the line in 2003.       Air France has ordered from Airbus 12 of the giant jets, each with a capacity of 538 passengers -- nine for first class, 80 for business class and 449 for economy class.       The double-decked Airbus A380 made its maiden flight on April 27, 2005 from Toulouse, France, and made its first commercial flight on Oct. 25, 2007 from Singapore to Sydney with Singapore Airlines.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[EU approves Lloyds bank restructuring plan ]]></title>
<news_id>6817429</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817429.html ]]></link>
<pubDate>2009-11-19 09:23:59</pubDate>
<description><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring plan of the British bank Lloyds for its 19 billion euros (about 28.6 billion U.S. dollars) state recapitalization.   "This plan effectively addresses the commission's competition concerns and at the same time ensures the return of Lloyds Banking Group to long term viability," Competition Commissioner Neelie Kroes said.       After thoroughly assessing Lloyds' situation, the EU Commission found that the proposed restruc ...]]></description>
<full-text><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring plan of the British bank Lloyds for its 19 billion euros (about 28.6 billion U.S. dollars) state recapitalization.   "This plan effectively addresses the commission's competition concerns and at the same time ensures the return of Lloyds Banking Group to long term viability," Competition Commissioner Neelie Kroes said.       After thoroughly assessing Lloyds' situation, the EU Commission found that the proposed restructuring measures were "compatible with the EU rules on state aid to remedy a serious disturbance in a member state's economy."       A year ago, after being hit hard by the global financial crisis, the bank was substantially bailed out by the state. EU said that Lloyds' plan to sell off more than 600 retail banking branches would facilitate the entry of a new competitor and would help remove the distortions of competition created by the British government bailout.       The EU commission pointed out that Lloyds would "pay a significant proportion of the restructuring costs, ensure a sustainable future for Lloyds without continued state support and that there will not be undue distortions of competition."       The commission found that the exit fee which will be paid by Lloyds Banking Group for not participating in the Asset Protection Scheme is sufficiently high to compensate for the advantage the bank gained from its announced participation of March 7, 2009. The Lloyds Banking Group is the entity resulting from the acquisition of HBOS by Lloyds TSB in January 2009.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[EU approves Lloyds bank restructuring plan ]]></title>
<news_id>6817429</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817429.html ]]></link>
<pubDate>2009-11-19 09:23:59</pubDate>
<description><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring plan of the British bank Lloyds for its 19 billion euros (about 28.6 billion U.S. dollars) state recapitalization.   "This plan effectively addresses the commission's competition concerns and at the same time ensures the return of Lloyds Banking Group to long term viability," Competition Commissioner Neelie Kroes said.       After thoroughly assessing Lloyds' situation, the EU Commission found that the proposed restruc ...]]></description>
<full-text><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring plan of the British bank Lloyds for its 19 billion euros (about 28.6 billion U.S. dollars) state recapitalization.   "This plan effectively addresses the commission's competition concerns and at the same time ensures the return of Lloyds Banking Group to long term viability," Competition Commissioner Neelie Kroes said.       After thoroughly assessing Lloyds' situation, the EU Commission found that the proposed restructuring measures were "compatible with the EU rules on state aid to remedy a serious disturbance in a member state's economy."       A year ago, after being hit hard by the global financial crisis, the bank was substantially bailed out by the state. EU said that Lloyds' plan to sell off more than 600 retail banking branches would facilitate the entry of a new competitor and would help remove the distortions of competition created by the British government bailout.       The EU commission pointed out that Lloyds would "pay a significant proportion of the restructuring costs, ensure a sustainable future for Lloyds without continued state support and that there will not be undue distortions of competition."       The commission found that the exit fee which will be paid by Lloyds Banking Group for not participating in the Asset Protection Scheme is sufficiently high to compensate for the advantage the bank gained from its announced participation of March 7, 2009. The Lloyds Banking Group is the entity resulting from the acquisition of HBOS by Lloyds TSB in January 2009.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[EU approves KBC restructuring plan]]></title>
<news_id>6817426</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817426.html ]]></link>
<pubDate>2009-11-19 09:22:38</pubDate>
<description><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring package for Belgium's KBC group.       The EC approved the proposed restructuring measures and concluded that they were "compatible with the EU rules on state aid to remedy a serious disturbance in a member state's economy."       After an in-depth investigation into KBC's situation, the European Commission found that the asset relief measure launched on June 30, 2009 is in line with state aid rules, and it is no longe ...]]></description>
<full-text><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring package for Belgium's KBC group.       The EC approved the proposed restructuring measures and concluded that they were "compatible with the EU rules on state aid to remedy a serious disturbance in a member state's economy."       After an in-depth investigation into KBC's situation, the European Commission found that the asset relief measure launched on June 30, 2009 is in line with state aid rules, and it is no longer concerned over the valuation and remuneration of the measure.       "The in-depth restructuring of KBC will restore its long-term viability and limit distortions of competition, while at the same time taking into account financial stability concerns," said Competition Commissioner Neelie Kroes, voicing his satisfaction that "through close cooperation with the Belgian authorities, we have managed to strike the right balance."       The commission said it was satisfied that the package of measures ensures that "KBC would pay a significant proportion of the restructuring costs, would restore the long-term commercial viability of KBC, and tackles the distortions of competition that result from the state aid."       KBC is an integrated banking and insurance group, serving mainly retail customers, SMEs and private banking clients. It is one of the main financial institutions in Belgium.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[EU approves KBC restructuring plan]]></title>
<news_id>6817426</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817426.html ]]></link>
<pubDate>2009-11-19 09:22:38</pubDate>
<description><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring package for Belgium's KBC group.       The EC approved the proposed restructuring measures and concluded that they were "compatible with the EU rules on state aid to remedy a serious disturbance in a member state's economy."       After an in-depth investigation into KBC's situation, the European Commission found that the asset relief measure launched on June 30, 2009 is in line with state aid rules, and it is no longe ...]]></description>
<full-text><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring package for Belgium's KBC group.       The EC approved the proposed restructuring measures and concluded that they were "compatible with the EU rules on state aid to remedy a serious disturbance in a member state's economy."       After an in-depth investigation into KBC's situation, the European Commission found that the asset relief measure launched on June 30, 2009 is in line with state aid rules, and it is no longer concerned over the valuation and remuneration of the measure.       "The in-depth restructuring of KBC will restore its long-term viability and limit distortions of competition, while at the same time taking into account financial stability concerns," said Competition Commissioner Neelie Kroes, voicing his satisfaction that "through close cooperation with the Belgian authorities, we have managed to strike the right balance."       The commission said it was satisfied that the package of measures ensures that "KBC would pay a significant proportion of the restructuring costs, would restore the long-term commercial viability of KBC, and tackles the distortions of competition that result from the state aid."       KBC is an integrated banking and insurance group, serving mainly retail customers, SMEs and private banking clients. It is one of the main financial institutions in Belgium.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[EU approves ING restructuring plan]]></title>
<news_id>6817423</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817423.html ]]></link>
<pubDate>2009-11-19 09:21:22</pubDate>
<description><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring plan for the Dutch bank ING. including an illiquid asset back-up facility provided by the Dutch State to ING banking and financial services group.       The approval of the facility comes after an additional agreement was signed between the Dutch State and ING, which received substantial state bailouts after being struck by the financial meltdown last year.       "I am satisfied that the Dutch authorities have adapted  ...]]></description>
<full-text><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring plan for the Dutch bank ING. including an illiquid asset back-up facility provided by the Dutch State to ING banking and financial services group.       The approval of the facility comes after an additional agreement was signed between the Dutch State and ING, which received substantial state bailouts after being struck by the financial meltdown last year.       "I am satisfied that the Dutch authorities have adapted the terms of the illiquid asset back-up facility via an additional agreement to bring them into line with EU state aid rules," Said Competition Commissioner Neelie Kroes.       The notified restructuring plan forsees that ING will pay a significant proportion of the restructuring costs, ING's long term commercial viability will be restored, and that the aid will not lead to undue distortions of competition.       "The restructuring plan is adequate to restore ING's viability. ING is financing a significant share of the restructuring costs and distortions of competition caused by the aid measures are sufficiently addressed," the commissioner added.       The EU's executive arm ruled that the proposed restructuring measures were "compatible with the EU rules on state aid to remedya serious disturbance in a member state's economy."   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[EU approves ING restructuring plan]]></title>
<news_id>6817423</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817423.html ]]></link>
<pubDate>2009-11-19 09:21:22</pubDate>
<description><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring plan for the Dutch bank ING. including an illiquid asset back-up facility provided by the Dutch State to ING banking and financial services group.       The approval of the facility comes after an additional agreement was signed between the Dutch State and ING, which received substantial state bailouts after being struck by the financial meltdown last year.       "I am satisfied that the Dutch authorities have adapted  ...]]></description>
<full-text><![CDATA[The European Commission (EC) approved here on Wednesday the restructuring plan for the Dutch bank ING. including an illiquid asset back-up facility provided by the Dutch State to ING banking and financial services group.       The approval of the facility comes after an additional agreement was signed between the Dutch State and ING, which received substantial state bailouts after being struck by the financial meltdown last year.       "I am satisfied that the Dutch authorities have adapted the terms of the illiquid asset back-up facility via an additional agreement to bring them into line with EU state aid rules," Said Competition Commissioner Neelie Kroes.       The notified restructuring plan forsees that ING will pay a significant proportion of the restructuring costs, ING's long term commercial viability will be restored, and that the aid will not lead to undue distortions of competition.       "The restructuring plan is adequate to restore ING's viability. ING is financing a significant share of the restructuring costs and distortions of competition caused by the aid measures are sufficiently addressed," the commissioner added.       The EU's executive arm ruled that the proposed restructuring measures were "compatible with the EU rules on state aid to remedya serious disturbance in a member state's economy."   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China's jumbo jet final assembling center to be established in Pudong]]></title>
<news_id>6817422</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817422.html ]]></link>
<pubDate>2009-11-19 09:20:05</pubDate>
<description><![CDATA[Commercial Aircraft Corporation of China, Ltd. (COMAC) and Shanghai Pudong New Area government signed a framework agreement November 18. The final assembling and manufacturing center will be set up in Pudong.  The center will be built at the south of Pudong International Airport and will cover an area of 265 hectares.   The final assembling and manufacturing center, with a registered capital of 2 billion yuan, is a wholly-owned subsidiary of COMAC. It is expected to produce 30 ARJ21-700 jets ...]]></description>
<full-text><![CDATA[Commercial Aircraft Corporation of China, Ltd. (COMAC) and Shanghai Pudong New Area government signed a framework agreement November 18. The final assembling and manufacturing center will be set up in Pudong.  The center will be built at the south of Pudong International Airport and will cover an area of 265 hectares.   The final assembling and manufacturing center, with a registered capital of 2 billion yuan, is a wholly-owned subsidiary of COMAC. It is expected to produce 30 ARJ21-700 jets in 2010 and 50 in 2012.  &$<i>&$By People's Daily Online&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Wall Street retreats on software earnings, weak housing start]]></title>
<news_id>6817420</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817420.html ]]></link>
<pubDate>2009-11-19 09:19:40</pubDate>
<description><![CDATA[ Wall Street fell moderately on Wednesday as technology shares weighed on the market and housing start dropped sharply.       Salesforce.com Inc., the largest seller of Web-based customer-management software, forecast fourth-quarter profit of 14 cents to15 cents a share, lower than expectation.       Autodesk, the biggest maker of engineering-design software, tumbled after projecting fourth-quarter profit of 24 cents a share at most.       The U.S. Commerce Department said on Wednesday tha ...]]></description>
<full-text><![CDATA[ Wall Street fell moderately on Wednesday as technology shares weighed on the market and housing start dropped sharply.       Salesforce.com Inc., the largest seller of Web-based customer-management software, forecast fourth-quarter profit of 14 cents to15 cents a share, lower than expectation.       Autodesk, the biggest maker of engineering-design software, tumbled after projecting fourth-quarter profit of 24 cents a share at most.       The U.S. Commerce Department said on Wednesday that housing starts dropped 10.6 percent to a seasonally adjusted annual rate of 529,000 units, the lowest level since April, and the percentage drop was the biggest since January.       The Labor Department said consumer prices rose 0.3 percent in October, a bit more than the 0.2-percent rise economists had expected. Core inflation, which excludes energy and food, rose 0.2percent, compared with expectations for a 0.1-percent rise.       Shares of Bank of America rose over 3 percent and limited the decline of major indexes, as billionaire John Paulson's hedge fund said the shares may almost double.       The Dow Jones fell 11.11, or 0.11 percent, to 10,426.31. Broader indexes also went lower. The Standard & Poor's 500 index dipped 0.52, or 0.05 percent, to 1,109.80 and the Nasdaq fell 10.64, or 0.48 percent, to 2,193.14.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Wall Street retreats on software earnings, weak housing start]]></title>
<news_id>6817420</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817420.html ]]></link>
<pubDate>2009-11-19 09:19:40</pubDate>
<description><![CDATA[ Wall Street fell moderately on Wednesday as technology shares weighed on the market and housing start dropped sharply.       Salesforce.com Inc., the largest seller of Web-based customer-management software, forecast fourth-quarter profit of 14 cents to15 cents a share, lower than expectation.       Autodesk, the biggest maker of engineering-design software, tumbled after projecting fourth-quarter profit of 24 cents a share at most.       The U.S. Commerce Department said on Wednesday tha ...]]></description>
<full-text><![CDATA[ Wall Street fell moderately on Wednesday as technology shares weighed on the market and housing start dropped sharply.       Salesforce.com Inc., the largest seller of Web-based customer-management software, forecast fourth-quarter profit of 14 cents to15 cents a share, lower than expectation.       Autodesk, the biggest maker of engineering-design software, tumbled after projecting fourth-quarter profit of 24 cents a share at most.       The U.S. Commerce Department said on Wednesday that housing starts dropped 10.6 percent to a seasonally adjusted annual rate of 529,000 units, the lowest level since April, and the percentage drop was the biggest since January.       The Labor Department said consumer prices rose 0.3 percent in October, a bit more than the 0.2-percent rise economists had expected. Core inflation, which excludes energy and food, rose 0.2percent, compared with expectations for a 0.1-percent rise.       Shares of Bank of America rose over 3 percent and limited the decline of major indexes, as billionaire John Paulson's hedge fund said the shares may almost double.       The Dow Jones fell 11.11, or 0.11 percent, to 10,426.31. Broader indexes also went lower. The Standard & Poor's 500 index dipped 0.52, or 0.05 percent, to 1,109.80 and the Nasdaq fell 10.64, or 0.48 percent, to 2,193.14.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Oil gains for third day on hopes of holiday demand ]]></title>
<news_id>6817417</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817417.html ]]></link>
<pubDate>2009-11-19 09:18:25</pubDate>
<description><![CDATA[Crude prices rose for the third straight session on Wednesday as a survey showed people would probably drive more during the Thanksgiving holiday.       Light, sweet crude for December delivery gained 44 cents to settle at 79.58 U.S. dollars a barrel on the New York Mercantile Exchange.       AAA, the national wide auto club in the United States, released its report based on a telephone survey, which showed 33.2 million people would hit the road and drive at least 50 miles over the Thanksgiv ...]]></description>
<full-text><![CDATA[Crude prices rose for the third straight session on Wednesday as a survey showed people would probably drive more during the Thanksgiving holiday.       Light, sweet crude for December delivery gained 44 cents to settle at 79.58 U.S. dollars a barrel on the New York Mercantile Exchange.       AAA, the national wide auto club in the United States, released its report based on a telephone survey, which showed 33.2 million people would hit the road and drive at least 50 miles over the Thanksgiving weekend, starting next Wednesday through Sunday. AAA said the 2.1-percent increase was a sign that consumers are more confident in the economy.       Meanwhile, moderate drops in both crude and fuel inventories also helped push oil prices higher. According to the U.S. Energy Department's Energy Information Administration (EIA), crude stockpiles decreased by 0.9 million barrels for the week ended Nov.13 while gasoline inventories dropped by 1.7 million barrels.       However, oil's advance was capped as the EIA said American petroleum demand tumbled to its lowest level in four months.       In London, Brent Crude for January delivery rose 53 cents to 79.50 dollars a barrel on the ICE Futures exchange.    &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Oil gains for third day on hopes of holiday demand ]]></title>
<news_id>6817417</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817417.html ]]></link>
<pubDate>2009-11-19 09:18:25</pubDate>
<description><![CDATA[Crude prices rose for the third straight session on Wednesday as a survey showed people would probably drive more during the Thanksgiving holiday.       Light, sweet crude for December delivery gained 44 cents to settle at 79.58 U.S. dollars a barrel on the New York Mercantile Exchange.       AAA, the national wide auto club in the United States, released its report based on a telephone survey, which showed 33.2 million people would hit the road and drive at least 50 miles over the Thanksgiv ...]]></description>
<full-text><![CDATA[Crude prices rose for the third straight session on Wednesday as a survey showed people would probably drive more during the Thanksgiving holiday.       Light, sweet crude for December delivery gained 44 cents to settle at 79.58 U.S. dollars a barrel on the New York Mercantile Exchange.       AAA, the national wide auto club in the United States, released its report based on a telephone survey, which showed 33.2 million people would hit the road and drive at least 50 miles over the Thanksgiving weekend, starting next Wednesday through Sunday. AAA said the 2.1-percent increase was a sign that consumers are more confident in the economy.       Meanwhile, moderate drops in both crude and fuel inventories also helped push oil prices higher. According to the U.S. Energy Department's Energy Information Administration (EIA), crude stockpiles decreased by 0.9 million barrels for the week ended Nov.13 while gasoline inventories dropped by 1.7 million barrels.       However, oil's advance was capped as the EIA said American petroleum demand tumbled to its lowest level in four months.       In London, Brent Crude for January delivery rose 53 cents to 79.50 dollars a barrel on the ICE Futures exchange.    &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Gold sets new all-time high on weak dollar ]]></title>
<news_id>6817415</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817415.html ]]></link>
<pubDate>2009-11-19 09:17:30</pubDate>
<description><![CDATA[Gold futures on the COMEX Division of the New York Mercantile Exchange hit a new record high above 1,150 U.S. dollars on Wednesday as dollar weakened. Silver finished a little higher, but platinum dropped.       The most active gold contract for December delivery rose 1.80 dollars to finish at 1,141.20 U.S. dollars an ounce. Earlier in the session, the precious metal soared above 1,150 dollars for the first time and touched as high as 1,153.40.       The dollar mostly declined on Wednesday a ...]]></description>
<full-text><![CDATA[Gold futures on the COMEX Division of the New York Mercantile Exchange hit a new record high above 1,150 U.S. dollars on Wednesday as dollar weakened. Silver finished a little higher, but platinum dropped.       The most active gold contract for December delivery rose 1.80 dollars to finish at 1,141.20 U.S. dollars an ounce. Earlier in the session, the precious metal soared above 1,150 dollars for the first time and touched as high as 1,153.40.       The dollar mostly declined on Wednesday as a Federal Reserve official said in a speech that interest rates may not rise until 2012 from the record low level near zero.       The dollar index, a gauge measuring the greenback's value against other major currencies, slid more than 0.3 percent to 75.205 when gold pit trading closed, fueling gold's appeal of hedge. However, dollar's recovery in late session forced the yellow metal to give up most of the gains.       On the economic front, the Commerce Department reported U.S. home construction unexpectedly plunged last month to its lowest level since April. The construction of homes and apartments fell 10.6 percent in October to an annual rate of 529,000, well below economists' expectations of 600,000.       Meanwhile, the Labor Department said consumer prices rose 0.3 percent in October, a bit more than the 0.2-percent rise economists had expected.       Concerns on a sluggish recovery of economy and potential inflation also provided some support to the precious metal.       December silver was up 2.8 cents to 18.415 dollars per ounce. January platinum lost 10.50 dollars to 1,452 dollars an ounce.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Gold sets new all-time high on weak dollar ]]></title>
<news_id>6817415</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817415.html ]]></link>
<pubDate>2009-11-19 09:17:30</pubDate>
<description><![CDATA[Gold futures on the COMEX Division of the New York Mercantile Exchange hit a new record high above 1,150 U.S. dollars on Wednesday as dollar weakened. Silver finished a little higher, but platinum dropped.       The most active gold contract for December delivery rose 1.80 dollars to finish at 1,141.20 U.S. dollars an ounce. Earlier in the session, the precious metal soared above 1,150 dollars for the first time and touched as high as 1,153.40.       The dollar mostly declined on Wednesday a ...]]></description>
<full-text><![CDATA[Gold futures on the COMEX Division of the New York Mercantile Exchange hit a new record high above 1,150 U.S. dollars on Wednesday as dollar weakened. Silver finished a little higher, but platinum dropped.       The most active gold contract for December delivery rose 1.80 dollars to finish at 1,141.20 U.S. dollars an ounce. Earlier in the session, the precious metal soared above 1,150 dollars for the first time and touched as high as 1,153.40.       The dollar mostly declined on Wednesday as a Federal Reserve official said in a speech that interest rates may not rise until 2012 from the record low level near zero.       The dollar index, a gauge measuring the greenback's value against other major currencies, slid more than 0.3 percent to 75.205 when gold pit trading closed, fueling gold's appeal of hedge. However, dollar's recovery in late session forced the yellow metal to give up most of the gains.       On the economic front, the Commerce Department reported U.S. home construction unexpectedly plunged last month to its lowest level since April. The construction of homes and apartments fell 10.6 percent in October to an annual rate of 529,000, well below economists' expectations of 600,000.       Meanwhile, the Labor Department said consumer prices rose 0.3 percent in October, a bit more than the 0.2-percent rise economists had expected.       Concerns on a sluggish recovery of economy and potential inflation also provided some support to the precious metal.       December silver was up 2.8 cents to 18.415 dollars per ounce. January platinum lost 10.50 dollars to 1,452 dollars an ounce.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Surprise Q3 boost benefits retailers]]></title>
<news_id>6817410</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817410.html ]]></link>
<pubDate>2009-11-19 09:15:26</pubDate>
<description><![CDATA[Deal-craving shoppers helped a trio of prominent US retailers report that their third quarter managed to improve.  From Target Corp's cheap chic shoppers to Saks Inc's luxury loving customers, there were signs consumers were willing to splurge on a few extras. Just barely.  At Target, in-store revenue rose along with foot traffic during the three-month period, but shoppers were still buying fewer items during each trip. But shoppers at both stores and discount retailer TJX Cos surprised anal ...]]></description>
<full-text><![CDATA[Deal-craving shoppers helped a trio of prominent US retailers report that their third quarter managed to improve.  From Target Corp's cheap chic shoppers to Saks Inc's luxury loving customers, there were signs consumers were willing to splurge on a few extras. Just barely.  At Target, in-store revenue rose along with foot traffic during the three-month period, but shoppers were still buying fewer items during each trip. But shoppers at both stores and discount retailer TJX Cos surprised analysts in seeming more willing to indulge.  "We're continuing to see improving sales trends across the board," said Morningstar analyst Kim Picciola.  Of the retailers that reported Tuesday, TJMaxx's parent company, TJX, fared best, with quarterly profit up 32 percent. It also said early holiday sales are strong.  "This presents a huge opportunity for us to capture a piece of the increased consumer spending when the economy improves," TJX Cos President and CEO Carol Meyrowitz said.  TJX's profit was $347.8 million, or 81 cents per share. Revenue rose 10 percent to $5.24 billion  At Target, profit climbed 18 percent, helped by ongoing cost-cutting efforts along with better sales in its stores, which climbed 1.4 percent, and improvement in its credit card business.  The company earned $436 million, or 58 cents per share, during the three months that ended in late October. It earned $369 million, or 49 cents per share, a year earlier. Its revenue rose 1.1 percent to $15.28 billion  And Saks managed to post a surprise profit for the first time in 18 months as the company began selling more luxury brands starting at lower prices to capture consumers' dollars. The company has been working with suppliers to lower prices on designer goods.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Surprise Q3 boost benefits retailers]]></title>
<news_id>6817410</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817410.html ]]></link>
<pubDate>2009-11-19 09:15:26</pubDate>
<description><![CDATA[Deal-craving shoppers helped a trio of prominent US retailers report that their third quarter managed to improve.  From Target Corp's cheap chic shoppers to Saks Inc's luxury loving customers, there were signs consumers were willing to splurge on a few extras. Just barely.  At Target, in-store revenue rose along with foot traffic during the three-month period, but shoppers were still buying fewer items during each trip. But shoppers at both stores and discount retailer TJX Cos surprised anal ...]]></description>
<full-text><![CDATA[Deal-craving shoppers helped a trio of prominent US retailers report that their third quarter managed to improve.  From Target Corp's cheap chic shoppers to Saks Inc's luxury loving customers, there were signs consumers were willing to splurge on a few extras. Just barely.  At Target, in-store revenue rose along with foot traffic during the three-month period, but shoppers were still buying fewer items during each trip. But shoppers at both stores and discount retailer TJX Cos surprised analysts in seeming more willing to indulge.  "We're continuing to see improving sales trends across the board," said Morningstar analyst Kim Picciola.  Of the retailers that reported Tuesday, TJMaxx's parent company, TJX, fared best, with quarterly profit up 32 percent. It also said early holiday sales are strong.  "This presents a huge opportunity for us to capture a piece of the increased consumer spending when the economy improves," TJX Cos President and CEO Carol Meyrowitz said.  TJX's profit was $347.8 million, or 81 cents per share. Revenue rose 10 percent to $5.24 billion  At Target, profit climbed 18 percent, helped by ongoing cost-cutting efforts along with better sales in its stores, which climbed 1.4 percent, and improvement in its credit card business.  The company earned $436 million, or 58 cents per share, during the three months that ended in late October. It earned $369 million, or 49 cents per share, a year earlier. Its revenue rose 1.1 percent to $15.28 billion  And Saks managed to post a surprise profit for the first time in 18 months as the company began selling more luxury brands starting at lower prices to capture consumers' dollars. The company has been working with suppliers to lower prices on designer goods.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[GE unit faces fraud charges]]></title>
<news_id>6817408</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817408.html ]]></link>
<pubDate>2009-11-19 09:13:56</pubDate>
<description><![CDATA[A unit of General Electric Co and a former subsidiary of Belgian bank Dexia SA were the two unnamed companies that allegedly conspired with a financial adviser charged by the US with rigging auctions on municipal investment transactions, people familiar with the matter said.   Trinity Funding Co, owned by General Electric Capital Corp, and Financial Security Assurance Holdings Ltd were two of four unidentified companies in the Oct. 29 indictment of CDR Financial Products Inc, its founder, Davi ...]]></description>
<full-text><![CDATA[A unit of General Electric Co and a former subsidiary of Belgian bank Dexia SA were the two unnamed companies that allegedly conspired with a financial adviser charged by the US with rigging auctions on municipal investment transactions, people familiar with the matter said.   Trinity Funding Co, owned by General Electric Capital Corp, and Financial Security Assurance Holdings Ltd were two of four unidentified companies in the Oct. 29 indictment of CDR Financial Products Inc, its founder, David Rubin, and two executives, according to the people, who spoke on the condition of anonymity because they weren't authorized to do so publicly. Trinity and FSA weren't charged.   Two of the unidentified companies paid CDR to win agreements from local governments that hired Rubin's adviser firm from 2002 to 2004, disguising kickbacks by paying his company to broker swaps with two unnamed financial institutions, according to the indictment. The indictment, brought in the federal court in Manhattan, was the first resulting from a more than three-year investigation of the municipal bond industry.   "The CDR defendants and co-conspirators engaged in an ongoing scheme to defraud municipalities," according to the indictment.   Brussels-based Dexia completed the sale of FSA's bond insurance business in July to Assured Guaranty Ltd of Hamilton, Bermuda, while retaining its outstanding investment contracts. FSA, based in New York, was the biggest insurer of US municipal bonds in 2007 and 2008.   CDR was hired by local governments to conduct auctions for investments purchased with bond proceeds until the money was needed to pay for construction projects.   The government alleges that the conspiracy to steer deals to favored firms with sham auctions allowed companies to pay lower returns on the investments at taxpayers' expense.   Rubin and CDR executives Stewart Wolmark and Evan Zarefsky have pleaded not guilty.   In a joint statement they claimed prosecutors failed to understand complex financial dealings and that they would be vindicated.   &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[GE unit faces fraud charges]]></title>
<news_id>6817408</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817408.html ]]></link>
<pubDate>2009-11-19 09:13:56</pubDate>
<description><![CDATA[A unit of General Electric Co and a former subsidiary of Belgian bank Dexia SA were the two unnamed companies that allegedly conspired with a financial adviser charged by the US with rigging auctions on municipal investment transactions, people familiar with the matter said.   Trinity Funding Co, owned by General Electric Capital Corp, and Financial Security Assurance Holdings Ltd were two of four unidentified companies in the Oct. 29 indictment of CDR Financial Products Inc, its founder, Davi ...]]></description>
<full-text><![CDATA[A unit of General Electric Co and a former subsidiary of Belgian bank Dexia SA were the two unnamed companies that allegedly conspired with a financial adviser charged by the US with rigging auctions on municipal investment transactions, people familiar with the matter said.   Trinity Funding Co, owned by General Electric Capital Corp, and Financial Security Assurance Holdings Ltd were two of four unidentified companies in the Oct. 29 indictment of CDR Financial Products Inc, its founder, David Rubin, and two executives, according to the people, who spoke on the condition of anonymity because they weren't authorized to do so publicly. Trinity and FSA weren't charged.   Two of the unidentified companies paid CDR to win agreements from local governments that hired Rubin's adviser firm from 2002 to 2004, disguising kickbacks by paying his company to broker swaps with two unnamed financial institutions, according to the indictment. The indictment, brought in the federal court in Manhattan, was the first resulting from a more than three-year investigation of the municipal bond industry.   "The CDR defendants and co-conspirators engaged in an ongoing scheme to defraud municipalities," according to the indictment.   Brussels-based Dexia completed the sale of FSA's bond insurance business in July to Assured Guaranty Ltd of Hamilton, Bermuda, while retaining its outstanding investment contracts. FSA, based in New York, was the biggest insurer of US municipal bonds in 2007 and 2008.   CDR was hired by local governments to conduct auctions for investments purchased with bond proceeds until the money was needed to pay for construction projects.   The government alleges that the conspiracy to steer deals to favored firms with sham auctions allowed companies to pay lower returns on the investments at taxpayers' expense.   Rubin and CDR executives Stewart Wolmark and Evan Zarefsky have pleaded not guilty.   In a joint statement they claimed prosecutors failed to understand complex financial dealings and that they would be vindicated.   &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Hershey, Ferrero plan joint bid]]></title>
<news_id>6817399</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817399.html ]]></link>
<pubDate>2009-11-19 09:12:31</pubDate>
<description><![CDATA[Chocolate makers Hershey Co and Ferrero SpA are considering a joint bid for Cadbury Plc that could help the British confectioner fend off a hostile takeover by Kraft Foods Inc.  A source familiar with the talks between US-based Hershey and Italy's Ferrero said the discussions between the two sides were "very preliminary. Very early in the process."  Hershey executives have been more aggressive about pursuing a deal, but financial details have not been discussed and no offer has been made, th ...]]></description>
<full-text><![CDATA[Chocolate makers Hershey Co and Ferrero SpA are considering a joint bid for Cadbury Plc that could help the British confectioner fend off a hostile takeover by Kraft Foods Inc.  A source familiar with the talks between US-based Hershey and Italy's Ferrero said the discussions between the two sides were "very preliminary. Very early in the process."  Hershey executives have been more aggressive about pursuing a deal, but financial details have not been discussed and no offer has been made, the Wall Street Journal reported.  The talks are the strongest sign yet of a possible rival bid to Kraft's $16.7 billion offer, which Cadbury rejected and said was "derisory".  Another person familiar with the situation said that Cadbury had not been contacted by Ferrero but would consider any attractive offer. Analysts and traders said there was a possibility that such an alliance might emerge and pose a viable defense against Kraft.  "Cadbury has heard nothing from Ferrero or people acting for it. Cadbury is not up for sale, but the company would give proper consideration to any offer that valued it properly and would be of interest to shareholders," the person said.  Ferrero and Cadbury both declined comment. Hershey and Hershey Trust officials could not immediately be reached.  Although Cadbury's assets are very attractive, "it doesn't appear that either Ferrero or Hershey is in the financial position of taking on Cadbury all by themselves", said Erin Swanson, an equity analyst with Morningstar.  Hershey shares slipped 6 cents to $38.35 in extended trading on Tuesday following news of its talks with Ferrero. Cadbury shares had earlier closed up 0.8 percent at 788 pence on Tuesday, while Kraft gained 1 cent to $27.64.  On Tuesday, Italian business daily Il Sole 24 Ore said family-owned Ferrero, which makes Nutella chocolate spread and Ferrero Rocher chocolates, could join financial investors and private equity players considered friendly to Cadbury for a possible alliance.  "We believe that if this scenario were proposed as a potential defense measure by Cadbury, the potential value the market might be prepared to award it would not be materially different to that of a revised Kraft offer," at 820 pence per share, Nomura analyst Alex Smith said of a Cadbury-Ferrero combination.  Kraft's cash and stock offer for Cadbury is closer to 726 pence per share.  Cadbury chief executive Todd Stitzer is said to be in his Uxbridge office by 7am every morning for an email summary of the latest bid developments.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Hershey, Ferrero plan joint bid]]></title>
<news_id>6817399</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817399.html ]]></link>
<pubDate>2009-11-19 09:12:31</pubDate>
<description><![CDATA[Chocolate makers Hershey Co and Ferrero SpA are considering a joint bid for Cadbury Plc that could help the British confectioner fend off a hostile takeover by Kraft Foods Inc.  A source familiar with the talks between US-based Hershey and Italy's Ferrero said the discussions between the two sides were "very preliminary. Very early in the process."  Hershey executives have been more aggressive about pursuing a deal, but financial details have not been discussed and no offer has been made, th ...]]></description>
<full-text><![CDATA[Chocolate makers Hershey Co and Ferrero SpA are considering a joint bid for Cadbury Plc that could help the British confectioner fend off a hostile takeover by Kraft Foods Inc.  A source familiar with the talks between US-based Hershey and Italy's Ferrero said the discussions between the two sides were "very preliminary. Very early in the process."  Hershey executives have been more aggressive about pursuing a deal, but financial details have not been discussed and no offer has been made, the Wall Street Journal reported.  The talks are the strongest sign yet of a possible rival bid to Kraft's $16.7 billion offer, which Cadbury rejected and said was "derisory".  Another person familiar with the situation said that Cadbury had not been contacted by Ferrero but would consider any attractive offer. Analysts and traders said there was a possibility that such an alliance might emerge and pose a viable defense against Kraft.  "Cadbury has heard nothing from Ferrero or people acting for it. Cadbury is not up for sale, but the company would give proper consideration to any offer that valued it properly and would be of interest to shareholders," the person said.  Ferrero and Cadbury both declined comment. Hershey and Hershey Trust officials could not immediately be reached.  Although Cadbury's assets are very attractive, "it doesn't appear that either Ferrero or Hershey is in the financial position of taking on Cadbury all by themselves", said Erin Swanson, an equity analyst with Morningstar.  Hershey shares slipped 6 cents to $38.35 in extended trading on Tuesday following news of its talks with Ferrero. Cadbury shares had earlier closed up 0.8 percent at 788 pence on Tuesday, while Kraft gained 1 cent to $27.64.  On Tuesday, Italian business daily Il Sole 24 Ore said family-owned Ferrero, which makes Nutella chocolate spread and Ferrero Rocher chocolates, could join financial investors and private equity players considered friendly to Cadbury for a possible alliance.  "We believe that if this scenario were proposed as a potential defense measure by Cadbury, the potential value the market might be prepared to award it would not be materially different to that of a revised Kraft offer," at 820 pence per share, Nomura analyst Alex Smith said of a Cadbury-Ferrero combination.  Kraft's cash and stock offer for Cadbury is closer to 726 pence per share.  Cadbury chief executive Todd Stitzer is said to be in his Uxbridge office by 7am every morning for an email summary of the latest bid developments.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Falling prices threaten to hit Japan's growth]]></title>
<news_id>6817397</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817397.html ]]></link>
<pubDate>2009-11-19 09:10:29</pubDate>
<description><![CDATA[The acceleration of Japan's economy to the fastest growth pace in more than two years masked a slide in prices of goods and services that threatens to temper the nation's recovery.  The domestic demand deflator, a measure of price levels that excludes the cost of imports, fell 2.6 percent in the third quarter from a year earlier, the most since 1958, Cabinet Office figures showed in Tokyo. At the same time, gross domestic product jumped 4.8 percent, the most since early 2007.  Sustained pric ...]]></description>
<full-text><![CDATA[The acceleration of Japan's economy to the fastest growth pace in more than two years masked a slide in prices of goods and services that threatens to temper the nation's recovery.  The domestic demand deflator, a measure of price levels that excludes the cost of imports, fell 2.6 percent in the third quarter from a year earlier, the most since 1958, Cabinet Office figures showed in Tokyo. At the same time, gross domestic product jumped 4.8 percent, the most since early 2007.  Sustained price declines threaten to curtail a corporate-profit rebound that's already been insufficient to spur a rally in Japan's shares this quarter. The report prompted Deputy Prime Minister Naoto Kan to say the government may outline an emergency-spending package, adding "I'm concerned we're entering into a deflationary situation."  "This isn't sustainable growth and the government knows it - that's precisely why they're talking about the GDP deflator," said Junko Nishioka, chief economist at RBS Securities Japan Ltd in Tokyo. "On the face of it, 4.8 percent growth is a positive for the Democrats, but they're not reading it as a reason to abandon their economic policies."  A report yesterday showed that demand for services unexpectedly fell for the first time in four months in September, a sign that the effects of government stimulus measures may be fading.  The tertiary index, which captures 63 percent of the economy, slid 0.5 percent from August, the Trade Ministry said in Tokyo. The median forecast of 23 economists surveyed by Bloomberg News was for a 0.2 percent gain.  Kan said yesterday that the government should work with the Bank of Japan to tackle the price slump. The central bank has kept interest rates near zero to help rekindle growth.  Consumer prices in the world's second-largest economy have fallen for seven straight months, undermined by the deepest recession in the postwar era.  Deflation can undermine the economy by persuading companies and consumers to delay purchases in the anticipation of further price declines. It also increases the value of their debt.  "Deflation is great if you don't have debt," Nishioka said. "But debt drives most economic activity. Companies take out a loan to build factories or you get a mortgage to buy a house. Those burdens get heavier when incomes start to fall."  The yen's 6 percent gain against the dollar in the past three months has exacerbated the price slump by making imports cheaper.  Even after seven months of gains in factory output, about one third of Japan's factories sit idle. The Democratic Party of Japan took power in September pledging to support households that have endured 16 months of wage declines and unemployment that climbed to a record in July.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Falling prices threaten to hit Japan's growth]]></title>
<news_id>6817397</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817397.html ]]></link>
<pubDate>2009-11-19 09:10:29</pubDate>
<description><![CDATA[The acceleration of Japan's economy to the fastest growth pace in more than two years masked a slide in prices of goods and services that threatens to temper the nation's recovery.  The domestic demand deflator, a measure of price levels that excludes the cost of imports, fell 2.6 percent in the third quarter from a year earlier, the most since 1958, Cabinet Office figures showed in Tokyo. At the same time, gross domestic product jumped 4.8 percent, the most since early 2007.  Sustained pric ...]]></description>
<full-text><![CDATA[The acceleration of Japan's economy to the fastest growth pace in more than two years masked a slide in prices of goods and services that threatens to temper the nation's recovery.  The domestic demand deflator, a measure of price levels that excludes the cost of imports, fell 2.6 percent in the third quarter from a year earlier, the most since 1958, Cabinet Office figures showed in Tokyo. At the same time, gross domestic product jumped 4.8 percent, the most since early 2007.  Sustained price declines threaten to curtail a corporate-profit rebound that's already been insufficient to spur a rally in Japan's shares this quarter. The report prompted Deputy Prime Minister Naoto Kan to say the government may outline an emergency-spending package, adding "I'm concerned we're entering into a deflationary situation."  "This isn't sustainable growth and the government knows it - that's precisely why they're talking about the GDP deflator," said Junko Nishioka, chief economist at RBS Securities Japan Ltd in Tokyo. "On the face of it, 4.8 percent growth is a positive for the Democrats, but they're not reading it as a reason to abandon their economic policies."  A report yesterday showed that demand for services unexpectedly fell for the first time in four months in September, a sign that the effects of government stimulus measures may be fading.  The tertiary index, which captures 63 percent of the economy, slid 0.5 percent from August, the Trade Ministry said in Tokyo. The median forecast of 23 economists surveyed by Bloomberg News was for a 0.2 percent gain.  Kan said yesterday that the government should work with the Bank of Japan to tackle the price slump. The central bank has kept interest rates near zero to help rekindle growth.  Consumer prices in the world's second-largest economy have fallen for seven straight months, undermined by the deepest recession in the postwar era.  Deflation can undermine the economy by persuading companies and consumers to delay purchases in the anticipation of further price declines. It also increases the value of their debt.  "Deflation is great if you don't have debt," Nishioka said. "But debt drives most economic activity. Companies take out a loan to build factories or you get a mortgage to buy a house. Those burdens get heavier when incomes start to fall."  The yen's 6 percent gain against the dollar in the past three months has exacerbated the price slump by making imports cheaper.  Even after seven months of gains in factory output, about one third of Japan's factories sit idle. The Democratic Party of Japan took power in September pledging to support households that have endured 16 months of wage declines and unemployment that climbed to a record in July.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Madoff assets auction raises $3 million]]></title>
<news_id>6817367</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817367.html ]]></link>
<pubDate>2009-11-19 09:08:43</pubDate>
<description><![CDATA[In less than a week, the US Marshals Service has raised $3 million for the victims of Bernard L. Madoff, selling off his personal assets including a teak-accented yacht, diamond earrings and a New York Mets jacket.  The agency plans to hold two or three more sales, though they haven't been scheduled yet. All the proceeds are to go to victims of Madoff's $65 billion Ponzi scheme.  On Tuesday, his three powerboats and a Mercedes-Benz fetched $1.1 million at an auction in Fort Lauderdale, Flori ...]]></description>
<full-text><![CDATA[In less than a week, the US Marshals Service has raised $3 million for the victims of Bernard L. Madoff, selling off his personal assets including a teak-accented yacht, diamond earrings and a New York Mets jacket.  The agency plans to hold two or three more sales, though they haven't been scheduled yet. All the proceeds are to go to victims of Madoff's $65 billion Ponzi scheme.  On Tuesday, his three powerboats and a Mercedes-Benz fetched $1.1 million at an auction in Fort Lauderdale, Florida. Last weekend dozens of items owned by Madoff and his wife Ruth, including her diamond earrings and his Mets sports jacket, raised more than $900,000 in Manhattan.  "All of these auctions are exceeding our expectations," Barry Golden, deputy US Marshals public information officer, said in a telephone interview yesterday.  The 71-year-old Madoff is serving a 150-year prison sentence after pleading guilty to using money from new clients to pay off old ones.  At the latest auction, "Bull," a 55-foot 1969 Rybovich Sportfish, sold for $700,000. "Sitting Bull," a 38-foot 2003 Shelter Island Runabout Sport, went for $320,000. "Little Bull," a 24-foot 2000 center-console boat from Maverick Boat Co, brought in $21,000.  In addition, a 1999 Mercedes-Benz CLK 320 convertible owned by Ruth Madoff sold for $30,000. The car had 12,827 miles on it.  By the time the auction got underway, 70 bidders had registered with National Liquidators, a Florida-based vessel-recovery company offering Madoff's boats and the Mercedes-Benz for the marshals service. The sale began at 4 pm New York time and took less than an hour, according to the service.  The company also took in $950,000 for a 61-foot 2003 Viking sport-fishing yacht owned by Frank DiPascali, former chief financial officer of Bernard L. Madoff Investment Securities LLC. He pleaded guilty to aiding Madoff in the Ponzi scheme. That money also will go to the fund for the victims.  Golden said he couldn't characterize the buyers of the yachts.  The Madoff provenance wouldn't have meant very much to hard-core fishermen, said John D'Agostino, sales manager at HMY Yacht Sales, a Florida-based company that sells used yachts.  "They want a deal," he said in a telephone interview. "They could care less whose boat it was."  The sale could have attracted European buyers, said George Fortune, broker with Monte Carlo Luxury Yachts in Monaco.  "The Euro is quite strong against the dollar and few people who are buying yachts at the moment are gravitating towards the US market," he said.  The custom-designed "Bull" features a hydraulic elevator and teak woodwork, said Bob Toney, chief executive officer of National Liquidators. Bar glasses have hand-painted bulls.  The US Marshals Service seized the vessels on April 1. It is responsible for the management and disposition of the Madoffs' assets, and for collecting the proceeds from sales.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[RIM talks up its BlackBerry]]></title>
<news_id>6817363</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817363.html ]]></link>
<pubDate>2009-11-19 08:57:51</pubDate>
<description><![CDATA[Research In Motion's top executives say the BlackBerry will hold its ground in a fierce battle with Apple's iPhone and other rivals, even as a boom in smartphone sales shakes up a market segment that their company once ruled.  Shares of RIM have tumbled almost 30 percent since late September as analysts downgraded the stock. Their concern is that an invasion of new smartphones from the likes of Apple and Nokia will erode the BlackBerry's dominance as North America's top selling smartphone bran ...]]></description>
<full-text><![CDATA[Research In Motion's top executives say the BlackBerry will hold its ground in a fierce battle with Apple's iPhone and other rivals, even as a boom in smartphone sales shakes up a market segment that their company once ruled.  Shares of RIM have tumbled almost 30 percent since late September as analysts downgraded the stock. Their concern is that an invasion of new smartphones from the likes of Apple and Nokia will erode the BlackBerry's dominance as North America's top selling smartphone brand.  But in an interview, RIM's co-chief executives say the company has weathered similar storms in the past and is confident it will keep pace with ripples that are now generating uncertainty in the market.  "When we went public everyone was saying, 'Oh my God, you're going to get crushed by Motorola, Ericsson and paging and this emerging Nokia,'" said Jim Balsillie, one of RIM's co-CEOs. The company launched its initial public offering in 1997.  "I'm not trying to be dismissive, and I'm not trying to be glib, but this has played before, several times. All that's different is there's a couple more zeros on everything."  Although sales of smartphones such as the BlackBerry and Apple's iPhone are still a fraction of the overall mobile phone market, they are growing rapidly while sales of basic mobile phones stagnate.  Worldwide mobile phone sales totaled 308.9 million units in the third quarter, up 0.1 percent from a year earlier, according to market research firm Gartner Inc.  Smartphone sales topped just 41 million units, but that was up 12.8 percent from the same period a year ago.  The market's rapid growth has broken down walls between the corporate and retail markets as smartphones gain mainstream acceptance. Initially the mainstay of executives and other professionals, smartphones are now being snapped up by consumers eager to replace older mobile phones.  The growth also forced RIM to become more responsive to consumer tastes and trends. The company loaded its devices with multimedia features and software aimed at retail users and introduced sleeker models including the BlackBerry Storm, its answer to the iPhone.  "There's no question the stakes got higher," Balsillie said at RIM's headquarters in Waterloo, Ontario. "The world has shifted to smartphones faster than I expected, really."  That shift represents a threat to RIM, which has long dominated the so-called "enterprise" market in North America, catering to corporations and government departments equipping their employees with smartphones.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[RIM talks up its BlackBerry]]></title>
<news_id>6817363</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817363.html ]]></link>
<pubDate>2009-11-19 08:57:51</pubDate>
<description><![CDATA[Research In Motion's top executives say the BlackBerry will hold its ground in a fierce battle with Apple's iPhone and other rivals, even as a boom in smartphone sales shakes up a market segment that their company once ruled.  Shares of RIM have tumbled almost 30 percent since late September as analysts downgraded the stock. Their concern is that an invasion of new smartphones from the likes of Apple and Nokia will erode the BlackBerry's dominance as North America's top selling smartphone bran ...]]></description>
<full-text><![CDATA[Research In Motion's top executives say the BlackBerry will hold its ground in a fierce battle with Apple's iPhone and other rivals, even as a boom in smartphone sales shakes up a market segment that their company once ruled.  Shares of RIM have tumbled almost 30 percent since late September as analysts downgraded the stock. Their concern is that an invasion of new smartphones from the likes of Apple and Nokia will erode the BlackBerry's dominance as North America's top selling smartphone brand.  But in an interview, RIM's co-chief executives say the company has weathered similar storms in the past and is confident it will keep pace with ripples that are now generating uncertainty in the market.  "When we went public everyone was saying, 'Oh my God, you're going to get crushed by Motorola, Ericsson and paging and this emerging Nokia,'" said Jim Balsillie, one of RIM's co-CEOs. The company launched its initial public offering in 1997.  "I'm not trying to be dismissive, and I'm not trying to be glib, but this has played before, several times. All that's different is there's a couple more zeros on everything."  Although sales of smartphones such as the BlackBerry and Apple's iPhone are still a fraction of the overall mobile phone market, they are growing rapidly while sales of basic mobile phones stagnate.  Worldwide mobile phone sales totaled 308.9 million units in the third quarter, up 0.1 percent from a year earlier, according to market research firm Gartner Inc.  Smartphone sales topped just 41 million units, but that was up 12.8 percent from the same period a year ago.  The market's rapid growth has broken down walls between the corporate and retail markets as smartphones gain mainstream acceptance. Initially the mainstay of executives and other professionals, smartphones are now being snapped up by consumers eager to replace older mobile phones.  The growth also forced RIM to become more responsive to consumer tastes and trends. The company loaded its devices with multimedia features and software aimed at retail users and introduced sleeker models including the BlackBerry Storm, its answer to the iPhone.  "There's no question the stakes got higher," Balsillie said at RIM's headquarters in Waterloo, Ontario. "The world has shifted to smartphones faster than I expected, really."  That shift represents a threat to RIM, which has long dominated the so-called "enterprise" market in North America, catering to corporations and government departments equipping their employees with smartphones.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Microsoft's software architect sees future in cloud computing]]></title>
<news_id>6817347</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817347.html ]]></link>
<pubDate>2009-11-19 08:56:38</pubDate>
<description><![CDATA[Microsoft Corp's venture into cloud computing will be successful if most people don't even know it is there, the executive in charge of the initiative said.   The software company's new Windows Azure service, set to be launched on January 1, will run customers' applications on its servers and provide capacity through its massive datacenters, helping websites stay up through spikes in demand which might otherwise paralyze them.   "For consumers, the best result of cloud computing is that they ...]]></description>
<full-text><![CDATA[Microsoft Corp's venture into cloud computing will be successful if most people don't even know it is there, the executive in charge of the initiative said.   The software company's new Windows Azure service, set to be launched on January 1, will run customers' applications on its servers and provide capacity through its massive datacenters, helping websites stay up through spikes in demand which might otherwise paralyze them.   "For consumers, the best result of cloud computing is that they don't notice it," Ray Ozzie, Microsoft's chief software architect, said in an interview at the company's annual developers conference.   "Companies that are not in IT - like retailers and manufacturing companies - still deal with their customers on the web," said Ozzie. "Azure allows us to do the hard work of figuring out how to build those really high-scale systems that deal with all the consumers, and it lets businesses focus on what they are good at."   The Monday after Thanksgiving - often the busiest Internet shopping day of the year - is an example of when a company may suddenly need more servers to deal with purchases on its website, but can't afford to maintain those servers all year round.   "From a consumer's perspective, when they hit the shopping cart online, they'll be able to complete the transaction," said Ozzie. "They won't lose that shopping cart and they won't have to hit that back button, and wonder 'Did the transaction go through?'"   Health scares or disasters could be times when website operators suddenly need more capacity to deal with demand.   "What this cloud computing allows IT departments to do is to just buy computing as you need it," said Ozzie. "If you have an application that you'd like to run and just try it a little, you only end up paying a little, and if your demand gets greater and greater, then we just turn up the dial and we give you more and more."   This new approach - giving developers a platform to write online applications, and renting out space in datacenters - sounds like a radical departure for Microsoft, which has relied on selling packaged software for customers to install on their own machines for much of its growth. But Ozzie says the focus on software, not how it is delivered, is the connecting strand.   "What made Microsoft what it is today is software," said Ozzie. "I don't think that there's some dramatic shift here in terms of value. Software at its core is what we are."   Ozzie, 53, took over the chief software architect role in June 2006, when Chairman Bill Gates stepped back from day-to-day involvement in the company he co-founded.   The creator of the Lotus Notes e-mail application, regarded as one of the software industry's pantheon of pioneers, Ozzie has been the central force pushing Microsoft in the direction of cloud computing.   &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Microsoft's software architect sees future in cloud computing]]></title>
<news_id>6817347</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6817347.html ]]></link>
<pubDate>2009-11-19 08:56:38</pubDate>
<description><![CDATA[Microsoft Corp's venture into cloud computing will be successful if most people don't even know it is there, the executive in charge of the initiative said.   The software company's new Windows Azure service, set to be launched on January 1, will run customers' applications on its servers and provide capacity through its massive datacenters, helping websites stay up through spikes in demand which might otherwise paralyze them.   "For consumers, the best result of cloud computing is that they ...]]></description>
<full-text><![CDATA[Microsoft Corp's venture into cloud computing will be successful if most people don't even know it is there, the executive in charge of the initiative said.   The software company's new Windows Azure service, set to be launched on January 1, will run customers' applications on its servers and provide capacity through its massive datacenters, helping websites stay up through spikes in demand which might otherwise paralyze them.   "For consumers, the best result of cloud computing is that they don't notice it," Ray Ozzie, Microsoft's chief software architect, said in an interview at the company's annual developers conference.   "Companies that are not in IT - like retailers and manufacturing companies - still deal with their customers on the web," said Ozzie. "Azure allows us to do the hard work of figuring out how to build those really high-scale systems that deal with all the consumers, and it lets businesses focus on what they are good at."   The Monday after Thanksgiving - often the busiest Internet shopping day of the year - is an example of when a company may suddenly need more servers to deal with purchases on its website, but can't afford to maintain those servers all year round.   "From a consumer's perspective, when they hit the shopping cart online, they'll be able to complete the transaction," said Ozzie. "They won't lose that shopping cart and they won't have to hit that back button, and wonder 'Did the transaction go through?'"   Health scares or disasters could be times when website operators suddenly need more capacity to deal with demand.   "What this cloud computing allows IT departments to do is to just buy computing as you need it," said Ozzie. "If you have an application that you'd like to run and just try it a little, you only end up paying a little, and if your demand gets greater and greater, then we just turn up the dial and we give you more and more."   This new approach - giving developers a platform to write online applications, and renting out space in datacenters - sounds like a radical departure for Microsoft, which has relied on selling packaged software for customers to install on their own machines for much of its growth. But Ozzie says the focus on software, not how it is delivered, is the connecting strand.   "What made Microsoft what it is today is software," said Ozzie. "I don't think that there's some dramatic shift here in terms of value. Software at its core is what we are."   Ozzie, 53, took over the chief software architect role in June 2006, when Chairman Bill Gates stepped back from day-to-day involvement in the company he co-founded.   The creator of the Lotus Notes e-mail application, regarded as one of the software industry's pantheon of pioneers, Ozzie has been the central force pushing Microsoft in the direction of cloud computing.   &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Delta lures Japan Airlines with $1b package]]></title>
<news_id>6817327</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817327.html ]]></link>
<pubDate>2009-11-19 08:52:02</pubDate>
<description><![CDATA[Delta Air Lines Inc and alliance partners readied a $1 billion package for Japan Airlines Corp to lure the carrier from a grouping with American Airlines.  Delta and other SkyTeam members may buy $500 million in Japan Air shares or convertible securities, according to a document handed to reporters at a Delta event in Tokyo yesterday. There would also be as much as $300 million of guarantees to cover any drop in sales caused by JAL joining SkyTeam from American's Oneworld.  Delta, the world' ...]]></description>
<full-text><![CDATA[Delta Air Lines Inc and alliance partners readied a $1 billion package for Japan Airlines Corp to lure the carrier from a grouping with American Airlines.  Delta and other SkyTeam members may buy $500 million in Japan Air shares or convertible securities, according to a document handed to reporters at a Delta event in Tokyo yesterday. There would also be as much as $300 million of guarantees to cover any drop in sales caused by JAL joining SkyTeam from American's Oneworld.  Delta, the world's biggest carrier, has started to woo JAL ahead of a US-Japanese "open skies" agreement that will liberalize travel between the two nations. American may team with private equity firm TPG to buy a $300 million stake in JAL, according to a person familiar with the situation, as the Tokyo-based carrier seeks new investment and government support following three losses in the past four years.  "Delta has the bigger network, which may appeal to JAL, but American may offer more long-term potential because of its more global reach," said Ryota Himeno, an analyst at Mitsubishi UFJ Securities Co. "Still, that amount of money won't be enough to solve JAL's problems on its own."  The SkyTeam proposal would also include $200 million in asset-backed financing and $20 million to cover JAL's costs for switching alliances. Air France-KLM Group, China Southern Airlines Co and Korean Air Lines Co are also part of the SkyTeam group.  JAL spokeswoman Sze Hunn Yap declined to comment on the offer.  The carrier pared earlier declines, trading down 4.9 percent at 97 yen at 2:44 p.m. in Tokyo after earlier dropping as much as 7.8 percent.  Delta, which doesn't have an alliance partner in Japan, wants access to JAL's network in the world's second-largest economy, and in China, Asia's biggest air-traffic market.  Oneworld, SkyTeam and Star Alliance, the three main global airline groups, help carriers cut operating costs and allow them to expand sales networks without the difficulties or expense of a merger. JAL gets as much as $500 million a year in additional revenue from its Oneworld partnerships.  Staying in Oneworld would "make more sense," and it would be "easy" to seek antitrust immunity to deepen ties with American, JAL President Haruka Nishimatsu said last week. The airlines established a marketing alliance in 1999, and JAL joined Oneworld two years ago.  JAL last week scrapped its full-year earnings forecast after posting a first-half loss of 131 billion yen ($1.5 billion). The carrier is seeking loans of 125 billion yen to maintain operations and has applied to negotiate out-of-court agreements with creditors to temporarily freeze debt payments.  Every Oneworld carrier is crafting incentives to help keep JAL in the alliance, John McCulloch, the group's managing partner, said earlier this month. American, the only carrier proposing a direct investment, has said that it may team with TPG to buy a stake. Both companies are based in Fort Worth, Texas.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Delta lures Japan Airlines with $1b package]]></title>
<news_id>6817327</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817327.html ]]></link>
<pubDate>2009-11-19 08:52:02</pubDate>
<description><![CDATA[Delta Air Lines Inc and alliance partners readied a $1 billion package for Japan Airlines Corp to lure the carrier from a grouping with American Airlines.  Delta and other SkyTeam members may buy $500 million in Japan Air shares or convertible securities, according to a document handed to reporters at a Delta event in Tokyo yesterday. There would also be as much as $300 million of guarantees to cover any drop in sales caused by JAL joining SkyTeam from American's Oneworld.  Delta, the world' ...]]></description>
<full-text><![CDATA[Delta Air Lines Inc and alliance partners readied a $1 billion package for Japan Airlines Corp to lure the carrier from a grouping with American Airlines.  Delta and other SkyTeam members may buy $500 million in Japan Air shares or convertible securities, according to a document handed to reporters at a Delta event in Tokyo yesterday. There would also be as much as $300 million of guarantees to cover any drop in sales caused by JAL joining SkyTeam from American's Oneworld.  Delta, the world's biggest carrier, has started to woo JAL ahead of a US-Japanese "open skies" agreement that will liberalize travel between the two nations. American may team with private equity firm TPG to buy a $300 million stake in JAL, according to a person familiar with the situation, as the Tokyo-based carrier seeks new investment and government support following three losses in the past four years.  "Delta has the bigger network, which may appeal to JAL, but American may offer more long-term potential because of its more global reach," said Ryota Himeno, an analyst at Mitsubishi UFJ Securities Co. "Still, that amount of money won't be enough to solve JAL's problems on its own."  The SkyTeam proposal would also include $200 million in asset-backed financing and $20 million to cover JAL's costs for switching alliances. Air France-KLM Group, China Southern Airlines Co and Korean Air Lines Co are also part of the SkyTeam group.  JAL spokeswoman Sze Hunn Yap declined to comment on the offer.  The carrier pared earlier declines, trading down 4.9 percent at 97 yen at 2:44 p.m. in Tokyo after earlier dropping as much as 7.8 percent.  Delta, which doesn't have an alliance partner in Japan, wants access to JAL's network in the world's second-largest economy, and in China, Asia's biggest air-traffic market.  Oneworld, SkyTeam and Star Alliance, the three main global airline groups, help carriers cut operating costs and allow them to expand sales networks without the difficulties or expense of a merger. JAL gets as much as $500 million a year in additional revenue from its Oneworld partnerships.  Staying in Oneworld would "make more sense," and it would be "easy" to seek antitrust immunity to deepen ties with American, JAL President Haruka Nishimatsu said last week. The airlines established a marketing alliance in 1999, and JAL joined Oneworld two years ago.  JAL last week scrapped its full-year earnings forecast after posting a first-half loss of 131 billion yen ($1.5 billion). The carrier is seeking loans of 125 billion yen to maintain operations and has applied to negotiate out-of-court agreements with creditors to temporarily freeze debt payments.  Every Oneworld carrier is crafting incentives to help keep JAL in the alliance, John McCulloch, the group's managing partner, said earlier this month. American, the only carrier proposing a direct investment, has said that it may team with TPG to buy a stake. Both companies are based in Fort Worth, Texas.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Shanghai copper futures sizzle]]></title>
<news_id>6817322</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817322.html ]]></link>
<pubDate>2009-11-19 08:50:18</pubDate>
<description><![CDATA[Copper futures traded in London, New York and Shanghai rallied to the highest level in 14 months as the dollar's decline boosted the appeal of raw materials as alternative investments.  The metal used in construction and automobiles has more than doubled this year as the global economy recovers from its worst recession since World War II and a weaker dollar encourages investment in physical assets.  The US currency fell yesterday for a third time in four days against a basket of six major cu ...]]></description>
<full-text><![CDATA[Copper futures traded in London, New York and Shanghai rallied to the highest level in 14 months as the dollar's decline boosted the appeal of raw materials as alternative investments.  The metal used in construction and automobiles has more than doubled this year as the global economy recovers from its worst recession since World War II and a weaker dollar encourages investment in physical assets.  The US currency fell yesterday for a third time in four days against a basket of six major currencies.  "The weaker dollar and inflation expectations will put a floor under prices," said Cai Luoyi, an analyst at China International Futures (Shanghai) Co. "We're expecting some consolidation ahead as the market faces the quandary of improved demand and rising stockpiles."  Copper for delivery in three months on the London Metal Exchange gained as much as 1.3 percent to $6,915 a metric ton, the highest level since Sept 26, 2008.  The March-delivery contract on the Comex division of the New York Mercantile Exchange jumped to $3.16 a pound, the highest price since Sept 24, 2008.  February-delivery copper on the Shanghai Futures Exchange added as much as 1.4 percent to 53,950 yuan a ton, the highest since Sept 23, 2008, and ended the day at 53,940 yuan.  The metal also gained on speculation that rising consumption in China will offset weaker demand in the US. China and the US are the world's two biggest copper users.  The metal for immediate delivery in Changjiang, Shanghai's biggest cash market, traded around 52,550 yuan a ton yesterday, nearly double the level at the start of the year, a sign demand may be improving.  This helped reverse Tuesday's 0.4 percent drop after a report showed US industrial production expanded less than expected in October as manufacturing declined for the first time in four months.  Still, inventories in Shanghai are at a five-year high of 104,939 tons. Copper stockpiles tallied by the London Metal Exchange rose for an 11th day on Tuesday to 410,000 tons, the highest since April 29.  Among other LME-traded metals, aluminum rose to a three-month high of $2,066 a ton, and zinc gained to a three-week high of $2,289 a ton.  Lead added 0.6 percent to $2,399.75 a ton, nickel was up 0.9 percent at $17,050 a ton, while tin climbed 1 percent to $15,100 a ton in afternoon trade in Singapore.  &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Power stocks boost mainland equities]]></title>
<news_id>6817312</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817312.html ]]></link>
<pubDate>2009-11-19 08:48:46</pubDate>
<description><![CDATA[Chinese stocks rose, driving the benchmark index to its highest in more than three months, as energy producers and utilities advanced after snowstorms boosted demand for power. Real estate developers declined.  China Shenhua Energy Co, the nation's top coal producer, added 1.5 percent to 37.99 yuan and Shanghai Electric Power Co, which supplies the commercial hub, rose 6.7 percent to 6.25 yuan as some areas of the country experienced the heaviest snowfall in a century.  China Petroleum & Che ...]]></description>
<full-text><![CDATA[Chinese stocks rose, driving the benchmark index to its highest in more than three months, as energy producers and utilities advanced after snowstorms boosted demand for power. Real estate developers declined.  China Shenhua Energy Co, the nation's top coal producer, added 1.5 percent to 37.99 yuan and Shanghai Electric Power Co, which supplies the commercial hub, rose 6.7 percent to 6.25 yuan as some areas of the country experienced the heaviest snowfall in a century.  China Petroleum & Chemical Corp climbed 3.3 percent to 12.72 yuan and PetroChina Co gained 1.2 percent to 14.01 yuan on speculation the government may speed up plans to reform natural gas pricing.  Poly Real Estate Group Co, the nation's second-biggest developer, slipped 1.3 percent to 26.7 yuan after central bank advisor Fan Gang said the city of Shenzhen will introduce a property tax. A measure tracking Shanghai-traded property stocks is the only one that dropped yesterday among the five industry groups.  "Power producers are benefiting from increased electricity demand due to the cold weather," said Liang Yumei, Beijing-based analyst at Shanxi Securities Co.  The Shanghai Composite Index advanced 20.35, or 0.6 percent, to 3,303.23 at the close, a fourth day of gains and the highest since Aug 6. The measure has rallied 19 percent this quarter, the world's second-best performer.  Stocks on the index trade at 35.02 times earnings, almost three times last year's low.  "The domestic market looks pretty fairly valued at the moment," Chris Ruffle, China co-chairman in Shanghai of Edinburgh-based Martin Currie, which manages $19 billion, said in a Bloomberg Television interview yesterday.  The CSI 300 Index added 0.1 percent to 3,630.23, while the Shenzhen Composite Index rose 0.3 percent to 1,188.47, rising for 14 consecutive days. That's the longest winning streak since Bloomberg began to track the measure in 1992.  Hang Seng declines  Hong Kong stocks dropped after central bank advisor Fan Gang said the nation is among the emerging nations facing risks of market bubbles.  Hang Lung Properties Ltd fell 3 percent to HK$30.95, leading property shares to the steepest decline on the Hang Seng Index.  The Hang Seng Index slid 0.3 percent to close at 22,840.33, reversing a gain of as much as 0.8 percent.  Shares in the Hang Seng Index trade at 156 times estimated cash flow for this year, compared with 8.9 times for the Shanghai Composite Index and 9.6 times for the Standard & Poor's 500 Index in the US, according to data compiled by Bloomberg.  The Hang Seng China Enterprises Index fell 0.3 percent to 13,688.01.  &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Expert warns of asset bubbles]]></title>
<news_id>6817307</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6817307.html ]]></link>
<pubDate>2009-11-19 08:46:31</pubDate>
<description><![CDATA[China is among the emerging markets facing risks of property and commodity market bubbles, central bank advisor Fan Gang said, joining officials from the region in expressing concern about surging asset prices.  A "double-digit" economic growth rate wouldn't be good for China, Fan, who heads the National Institute of Economic Research, said at a business conference in Hong Kong yesterday. Chinese gross domestic product may be able to climb 8 percent to 9 percent next year, he also said.  Fan ...]]></description>
<full-text><![CDATA[China is among the emerging markets facing risks of property and commodity market bubbles, central bank advisor Fan Gang said, joining officials from the region in expressing concern about surging asset prices.  A "double-digit" economic growth rate wouldn't be good for China, Fan, who heads the National Institute of Economic Research, said at a business conference in Hong Kong yesterday. Chinese gross domestic product may be able to climb 8 percent to 9 percent next year, he also said.  Fan is the latest voice to indicate the seeds of the next financial crisis may be being laid in Asia in the wake of liquidity injections by the world's central banks. China's government has encouraged a $1.3 trillion credit boom this year, helping growth accelerate while at the same time aiding an 81 percent climb in the Shanghai Composite Index of stocks.  Emerging economies "might overheat and experience financial turmoil", Bank of Japan Governor Masaaki Shirakawa said in Tokyo on Nov 16. Liu Mingkang, China's top banking regulator, said the day before that low US interest rates and the dollar's depreciation present "new, real and insurmountable risks to the recovery of the global economy".  World Bank President Robert Zoellick said last week in a Bloomberg Television interview that "given the pace of recovery in East Asia, you could start to see some asset bubbles". He added that there will "be a need" to consider raising interest rates and taking other steps to restrain credit.  Accelerating growth  China's economy grew 8.9 percent in the third quarter from a year earlier, the fastest pace in a year, as stimulus spending and record lending growth helped the nation lead the world out of recession. The median projection of economists surveyed by Bloomberg News is for GDP to jump more than 10 percent in the final three months of 2009.  Fan, the academic member of the People's Bank of China's monetary policy committee, told property developers at a business conference in Hong Kong yesterday that while the Chinese property market isn't "crazy", there is excessive speculation.  High savings are fueling that speculation, Fan said, urging consideration of taxes on luxury properties. Levies are important to balance demand, he said.  China's southern city of Shenzhen is "a pioneer" by introducing a property tax, Fan said.  Consumer-price inflation isn't likely in coming months, with stable food prices providing a restraint, Fan also said.  Fan said that China must continue its stimulus measures in 2010 to sustain growth, even as he rejected the prospect of a double-dip slowdown in the expansion. The US may see a renewed slump, he also said.  Policy stance  China should maintain a "moderately loose" monetary policy next year as government stimulus wanes and private investment and external demand remain weak, the State Information Center said on Nov 16.  The world's third-largest economy has countered a 12-month slide in exports by rolling out a 4 trillion yuan stimulus package. Much of it is focused on investment, including the building of roads, airports and railways.  Record lending this year and inflows of cash from investors betting on yuan gains has added to the risk of asset bubbles in stocks and property. Home prices in 70 major Chinese cities climbed 3.9 percent from a year earlier in October, the most&am ]]></full-text>
</item>
<item>
<title><![CDATA[Relaxed dollar curbs, rally prompt new share accounts]]></title>
<news_id>6817295</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817295.html ]]></link>
<pubDate>2009-11-19 08:44:23</pubDate>
<description><![CDATA[Investors opened more accounts to trade local and foreign-currency shares in China as benchmark indexes extended a rally and regulators relaxed restrictions on buying dollars.   New brokerage accounts for dollar-denominated B shares jumped 68 percent to 1,366 in the week ending Nov 13 from the previous week, according to clearing house data. That's the most in three months.   Accounts for yuan-denominated A shares rose to 304,698 from 299,891.   The Shanghai B-Share Index jumped 14 percent ...]]></description>
<full-text><![CDATA[Investors opened more accounts to trade local and foreign-currency shares in China as benchmark indexes extended a rally and regulators relaxed restrictions on buying dollars.   New brokerage accounts for dollar-denominated B shares jumped 68 percent to 1,366 in the week ending Nov 13 from the previous week, according to clearing house data. That's the most in three months.   Accounts for yuan-denominated A shares rose to 304,698 from 299,891.   The Shanghai B-Share Index jumped 14 percent last week, the biggest gain in a year, as the State Administration of Foreign Exchange said it will allow more institutions across the country to offer currency exchange services. The shares also rose on expectations that the government will resume the yuan's appreciation.   "The rally has been drawing new investors into the market," said Wu Kan, a Shanghai-based fund manager at Dazhong Insurance Co, which manages about $285 million. A rising yuan and improving economy would help push stocks higher, he said.   B shares, which can only be bought and sold by domestic individuals and overseas investors, are traded in US dollars in Shanghai and Hong Kong dollars in Shenzhen. A higher yuan against the dollar would boost the value of the stocks' assets because they are denominated in the Chinese currency.   Twelve-month non-deliverable forwards for the yuan strengthened 5.6 percent to 6.6235 per dollar. The contracts show traders are betting on a 3.1 percent advance in yuan in a year from its spot ate of 6.8265.   For both A and B shares, investors opened 306,064 stock accounts last week, the most since the five days ending Sept 25 and rising for a fifth week.   The benchmark Shanghai Composite Index has gained 18 percent this quarter, the second-best performer among 89 global benchmark indexes tracked by Bloomberg, as the nation's economy strengthened and the government said it will continue a "moderately loose" monetary policy.   Still, investors have yet to flock to the market in the numbers seen in July, when 700,617 accounts were opened in a single week. New accounts dropped as the Shanghai Composite plunged 22 percent in August amid concern the government would remove stimulus measures. The gauge remains 5.2 percent short of this year's peak on Aug 4.   &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[GSK may shift some Relenza manufacturing to mainland]]></title>
<news_id>6817279</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6817279.html ]]></link>
<pubDate>2009-11-19 08:41:49</pubDate>
<description><![CDATA[British drugmaker GlaxoSmithKline (GSK) Plc is planning to move part of its flu drug Relenza manufacture to China to better support the local market.  "I hope that we will be able to shift some Relenza manufacture to China to make our products more accessible in the country," said Chief Executive Andrew Witty.  The drug, which received the State Food and Drug Administration (SFDA) approval in September for domestic sales, is used to fight the flu virus along with Roche's Tamiflu.  Welcomin ...]]></description>
<full-text><![CDATA[British drugmaker GlaxoSmithKline (GSK) Plc is planning to move part of its flu drug Relenza manufacture to China to better support the local market.  "I hope that we will be able to shift some Relenza manufacture to China to make our products more accessible in the country," said Chief Executive Andrew Witty.  The drug, which received the State Food and Drug Administration (SFDA) approval in September for domestic sales, is used to fight the flu virus along with Roche's Tamiflu.  Welcoming the Chinese government's speedy approval for Relenza in the country, Witty said GSK is the only firm that produces both vaccines and drugs to tackle H1N1 flu.  GSK has adopted a three-pronged strategy to tackle the epidemic, said Witty. Apart from producing the vaccine, the company is also making anti-viral face-masks, and anti-viral medicines such as Relenza.  The company plans to ship nearly 450-500 million doses of its anti-H1N1 flu vaccine and sell 60 million packs of Relenza globally from this quarter to next year.  The CEO said GSK's joint venture with a Shenzhen-based pharmaceutical firm would "help bring more of GSK's technologies to China".  GSK inked a deal with Shenzhen Neptunus Interlong Bio-tech in early June to develop flu vaccines for the Chinese market and invested $35.3 million for a 40 percent stake in the new venture.  "The joint venture with Neptunus, which focuses on flu vaccines will hopefully in the future create greater domestic capability," he said.  GSK also signed a deal with Yunnan Walvax Biotech in October to co-launch a company that focuses on vaccines for kids, with an initial investment of 451 million yuan from the two companies.  Witty said the company is now putting more emphasis on its vaccine and consumer goods businesses and focusing on emerging markets like China, Brazil and Russia.  "We have a leadership position in vaccine and consumer products. What I want to do is to build these two businesses so that the three main arms of pharmaceuticals, vaccines and consumer goods, can complement each other. That way we would be able to mitigate our risks and deliver consistent and sustainable growth," he said.  Emerging markets like China offer immense potential for growth due to the rapid development of the healthcare sector, he said.  "It's an easy decision to prioritize here as I've spent most part of career in emerging markets like Asia and Africa," said Witty.  The company is enhancing its investment in China by increasing the amount of R&D investment and employing more people to work with hospitals, apart from forging partnerships with local companies, he said.  "In reality, for GSK, the center of gravity is moving to the east."  GSK has so far invested $400 million and has around 4,000 employees in China.  &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Chardan warning hits BYD]]></title>
<news_id>6817272</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817272.html ]]></link>
<pubDate>2009-11-19 08:39:04</pubDate>
<description><![CDATA[BYD Co, the Chinese electric-car maker backed by Warren Buffett, fell the most in two weeks in Hong Kong after Chardan Capital Market LLC advised investors to sell the stock following a fivefold jump in the share price.   The company dropped as much as 7.6 percent, the biggest intraday decline since Nov 2. It closed down 6 percent at HK$64.65.   BYD is overvalued as it's trading at 37 times next year's earnings, a premium to peers, Chardan said. Investors replicating Buffett's strategy have  ...]]></description>
<full-text><![CDATA[BYD Co, the Chinese electric-car maker backed by Warren Buffett, fell the most in two weeks in Hong Kong after Chardan Capital Market LLC advised investors to sell the stock following a fivefold jump in the share price.   The company dropped as much as 7.6 percent, the biggest intraday decline since Nov 2. It closed down 6 percent at HK$64.65.   BYD is overvalued as it's trading at 37 times next year's earnings, a premium to peers, Chardan said. Investors replicating Buffett's strategy have caused the automaker to surge since the billionaire's Berkshire Hathaway Inc agreed to buy a stake last year.   "It's time to get off this bus," Chardan said in a note to investors on Monday. "Given that electric vehicles remain years away from gaining meaningful penetration, we would recommend investors take profits."   Chardan began coverage with a "sell" rating and a 12-month price target of HK$40. That's 38 percent lower than yesterday's close.   Berkshire's MidAmerican Energy Holdings Co bought 225 million new shares of BYD for HK$8 apiece in July. The tie-up with Buffett may help boost BYD's profile overseas and also reassure potential customers, Chief Executive Wang Chuanfu said last year. The automaker started selling the F3DM, the world's first mass-produced plug-in hybrid car, in December, 2008.   The Chinese company has said it plans to sell shares on the mainland to help fund development of its automobile business.   BYD's Wang was named China's richest man by Forbes Magazine earlier this month after Buffett's investment helped increase his estimated personal wealth to $5.8 billion.   &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Action hots up on Bund realty front]]></title>
<news_id>6817256</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817256.html ]]></link>
<pubDate>2009-11-19 08:36:58</pubDate>
<description><![CDATA[Hutchison Whampoa and Sun Hung Kai Properties are likely to enter the bidding race for the city's most expensive piece of real estate, according to industry sources.  The two heavyweight Hong Kong realtors are already active players in the Shanghai commercial realty market. They are expected to join 20 other companies to bid for the plot sometime in mid January.  The entry of the Hong Kong developers does not come as a surprise to industry experts as Shanghai is slowly being modeled as a lea ...]]></description>
<full-text><![CDATA[Hutchison Whampoa and Sun Hung Kai Properties are likely to enter the bidding race for the city's most expensive piece of real estate, according to industry sources.  The two heavyweight Hong Kong realtors are already active players in the Shanghai commercial realty market. They are expected to join 20 other companies to bid for the plot sometime in mid January.  The entry of the Hong Kong developers does not come as a surprise to industry experts as Shanghai is slowly being modeled as a leading financial and shipping center. That in turn would see the entry of big-ticket international companies.  By acquiring land in advance the Hong Kong developers would not only acquire valuable realty in the city, but also get a good return on their investments in the future, said the experts.  Analysts estimate that the plot, located in the future Bund international financial service center, could fetch an auction price of nearly 11 billion yuan, making it the most expensive piece of realty in the mainland.  Officials with the Huangpu district government, owner of the plot, refused to reveal the base price for bidding, but said they expect the price to between 9 billion and 11 billion yuan indicating that the per sq m cost of the plot would be around 40,000 yuan by gross floor area.  "This plot is a complex one, and in order to acquire more knowledge about it, we attended the briefing (held on Monday by the local government). But that doesn't mean we will buy it," said Wang Zheng, assistant general manager with Sun Hung Kai Properties. Hutchison Whampoa officials were not available for comments.  Prominent among the other companies that participated in the meeting are CITIC Pacific, Swire Properties, GIC Real Estate, the Government of Singapore Investment Corp, and the Shanghai-based 'land king' Greenland Group.  Xue Jianxiong, an analyst with E-House (China) Holdings Ltd, said he doesn't expect the plot to fetch prices that are far above the market price. "The prices have already soared. Developers have to spend several billion yuan to develop the project thereby affecting cash flows," said Xue.  According to Lu Qilin, deputy director with Shanghai-based Uwin Real Estate Research Center, heavyweight property developers from Hong Kong and overseas have distinct advantages over domestic rivals.  "Unlike residential projects, the commercial complex entails sophisticated management and operational experience. Therefore, private property developers may be excluded from the bidding," Xue said.  This year, the domestic property market has been booming with land prices hitting new highs in ambitious biddings. The Shanghai government has started to put more land plots into the market to augment supply.  Earlier this week Poly Real Estate purchased a 210,000-sq-m plot for 390 million yuan in Changchun of Jilin province.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[CNPC endeavors to meet rising gas demand]]></title>
<news_id>6817248</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817248.html ]]></link>
<pubDate>2009-11-19 08:41:30</pubDate>
<description><![CDATA[&$<center><img src='/mediafile/200911/19/P200911190837142653721120.jpg'> &$Taxis line up to get their tanks filled on a viaduct in Southwest China's Chongqing municipality November 16, 2009. The city is in severe shortage of natural gas and some taxi drivers waited for about two hours to get tanks filled, Chongqing Evening News reported. (Photo by Zhong Zhibing/Chongqing Economic Times)&$</center>&$ China National Petroleum Corporation (CNPC), the country's leading oil and gas producer, told ...]]></description>
<full-text><![CDATA[&$<center><img src='/mediafile/200911/19/P200911190837142653721120.jpg'> &$Taxis line up to get their tanks filled on a viaduct in Southwest China's Chongqing municipality November 16, 2009. The city is in severe shortage of natural gas and some taxi drivers waited for about two hours to get tanks filled, Chongqing Evening News reported. (Photo by Zhong Zhibing/Chongqing Economic Times)&$</center>&$ China National Petroleum Corporation (CNPC), the country's leading oil and gas producer, told Xinhua Wednesday it has taken active measures to raise gas supply and meet rising market demand triggered by heavy snows and falling temperatures.  CNPC figures revealed that daily natural gas consumption volume in north China surged 56 percent year on year between November 1 and 16, while daily gas consumption in Beijing alone rose 57 percent year on year in this period.  The daily natural gas supply of CNPC nationwide has increased from 169 million cubic meters at the beginning of this month to the current 189 million cubic meters, said the Beijing-based firm.  Most of the company's gas transmission pipelines have reached their full capacity. The oil and gas producer would do its best to guarantee the demand for local residents' daily life use and the demand in Beijing and other cities, by reducing supplies to some industrial enterprises.  China embraced severe cold weather and heavy snows this winter, with almost all of north China expected to experience continuing low temperatures and gales, according to weather forecast of the China Meteorological Administration on Sunday.  Meanwhile, almost all of southern China will be covered by snow and rain, with Hubei and Anhui expecting storms, according to the forecast.  &$<i>&$Source:Xinhua&$</i>&$  &$<center><img src='/mediafile/200911/19/P200911190837594283170361.jpg'> &$Taxis line up to get their tanks filled on a viaduct in Chongqing municipality November 17, 2009. The city is in severe shortage of natural gas and some taxi drivers waited for about two hours to get tanks filled, Chongqing Evening News reported.  (Photo by Zhong Zhibing/Chongqing Economic Times) &$</center>&$  &$<center><img src='/mediafile/200911/19/P200911190838187149832818.jpg'> &$Taxis line up to get their tanks filled on a viaduct in Chongqing municipality November 17, 2009. The city is in severe shortage of natural gas and some taxi drivers waited for about two hours to get tanks filled, Chongqing Evening News reported. (Photo by Zhong Zhibing/Chongqing Economic Times)&$</center>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Gome expects better full-year profit]]></title>
<news_id>6817243</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817243.html ]]></link>
<pubDate>2009-11-19 08:34:11</pubDate>
<description><![CDATA[Gome Electrical Appliances Holdings Ltd yesterday said it expects to come in with better full year numbers and open more outlets next year, as the electronics retailer continued to benefit from its store restructuring plan and various other cost control measures.   Speaking to newsmen Chen Xiao, president of Gome, said revenue during the third quarter of the year rose 2.85 percent to 10.97 billion yuan compared with 10.66 billion yuan in the previous quarter. Net profit for the period was 385  ...]]></description>
<full-text><![CDATA[Gome Electrical Appliances Holdings Ltd yesterday said it expects to come in with better full year numbers and open more outlets next year, as the electronics retailer continued to benefit from its store restructuring plan and various other cost control measures.   Speaking to newsmen Chen Xiao, president of Gome, said revenue during the third quarter of the year rose 2.85 percent to 10.97 billion yuan compared with 10.66 billion yuan in the previous quarter. Net profit for the period was 385 million yuan.   The company said revenue for the nine months ending Sept 30 rose 13.64 percent to 31.43 billion yuan over the same period last year. Net profit, however, fell in the nine months by 39 percent to 965 million yuan from a year ago.   "Our decision to optimize the store network has paid off," said Chen.   Denying claims that the company's sales recovery was aided by the government's subsidy program for appliances, Chen said it accounted for just 10 to 15 percent of the total sales.   During the nine-month period, the company closed down 158 less profitable outlets and opened 41 new stores to improve its operational efficiency.   The average earnings of a single outlet in the third quarter rose 2.05 percent year-on-year to 14.4 million yuan, the first growth since the fourth quarter of 2008, the company said.   However, Liang Ying, an analyst from China Merchants Securities, said the company's performance is actually lower than expectations.   "Earnings from convertible bonds contributed to a big part of the earnings," Liang said. She said fees collected from suppliers have been declining and could have a negative impact on future earnings.   The company had earlier reported a half-year net profit of 258 million yuan, down 59 percent over the same period last year. Revenue during the period fell 18 percent to 20.5 billion yuan.   Chen said the company has managed to come out of the woods as net profit for the January-June period jumped nearly 66.67 percent from the July-December period in 2008. He said the first half numbers were slightly impacted due to the higher provisions it had to set aside for store restructuring.   Lu Renbo, an analyst from Research Institute of Market Economy, the State Council, said the company has improved its performance with better management and outlet optimization. "What the retailer needs to do now is to revamp the products at its outlets," he said.   "The existing line of products offer little margins for Gome. It needs to be more creative and rejig its product line up with higher margin products. Although Gome's products and categories per sq m is still the highest in the country it still is not on a par with international standards," he said.   Gome was founded by Huang Guangyu in Beijing in 1987. The company was listed on the Hong Kong Stock Exchange in 2004. In November 2008, the bourse suspended trading in Gome shares after police revealed that Huang was under investigation for stock manipulation.   Gome resumed trading in June and announced a financing plan of HK$3.23 billion and also augmented capital several times.   &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Junk bond sales may get nod]]></title>
<news_id>6817238</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817238.html ]]></link>
<pubDate>2009-11-19 08:32:32</pubDate>
<description><![CDATA[China may experiment with high-yield corporate bond issuances, as and when "conditions permit", to help expand financing channels for its cash-starved small- and medium-sized enterprises (SMEs), a senior central bank official said at a corporate bond forum in Beijing yesterday.  Outstanding corporate debt, including both exchange-listed and inter-bank issuances, surged dramatically from 560 billion yuan in 2006 to 2.1 trillion yuan by the end of October this year, said Hu Xiaolian, deputy gove ...]]></description>
<full-text><![CDATA[China may experiment with high-yield corporate bond issuances, as and when "conditions permit", to help expand financing channels for its cash-starved small- and medium-sized enterprises (SMEs), a senior central bank official said at a corporate bond forum in Beijing yesterday.  Outstanding corporate debt, including both exchange-listed and inter-bank issuances, surged dramatically from 560 billion yuan in 2006 to 2.1 trillion yuan by the end of October this year, said Hu Xiaolian, deputy governor of the People's Bank of China, the nation's central bank.  However, corporate bonds only accounted for 14 percent of all debt issued in China and less than 10 percent of banks' lending by the end of September, Hu said.   State-owned companies were the main issuers of corporate bonds, with most of it financing big infrastructure projects such as the Three Gorges Dam or new rail infrastructure.  High-yield bonds, otherwise known as junk bonds, are considered speculative because they carry substantial default risk. Therefore, Hu stressed the importance of a system to facilitate information disclosure, credit rating and risk management.  China would issue three bundled bonds for non-financial SMEs to raise funds on the inter-bank market next week as part of a "mock" high-yield bonds pilot.  The National Association of Financial Market Institutional Investors (NAFMII), which oversees corporate bond issuances on the inter-bank market, said last week that the issuance size of any SME bundled bond shouldn't exceed 1 billion yuan.  Zhang Jianhua, head of the central bank's research arm, suggested at the forum that regulators should open the high-yield bond market to issues rated BB and above at the preliminary stage.  To support the development of SMEs, the high-yield bonds should ideally mature in three to five years, Zhang proposed.  A deeper corporate bond market will be crucial to making the Chinese yuan a global currency. To see that happen, China's capital markets need to be far more sophisticated and better integrated into the international financial system.  "With a more sophisticated capital market in shape, China may allow foreign investors to issue yuan-denominated corporate bonds in China and the nation may start issuing yuan-denominated bonds in the overseas market," said Zhang.  Policy adjustment is also needed to scrap a legal ceiling that caps public issuance of corporate bonds at 40 percent of a company's net assets to help develop the corporate bond market, said Shi Wenzhao, secretary general of NAFMII.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Damaged pipeline halts MMG zinc shipment from Oz mine]]></title>
<news_id>6817233</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6817233.html ]]></link>
<pubDate>2009-11-19 08:30:57</pubDate>
<description><![CDATA[China Minmetals Corp, the nation's largest metals trader, has exhausted stockpiles and halted shipments of concentrate from its Century zinc mine in northern Australia pending repairs to a damaged pipeline.   "We've now completed shipping of all the zinc concentrate stocks that were stored," Sally Cox, a spokeswoman for Minmetals' Melbourne-based MMG unit, said yesterday. The mine in Queensland state is the world's second-largest open-pit zinc operation.   Customers including Nyrstar NV, the ...]]></description>
<full-text><![CDATA[China Minmetals Corp, the nation's largest metals trader, has exhausted stockpiles and halted shipments of concentrate from its Century zinc mine in northern Australia pending repairs to a damaged pipeline.   "We've now completed shipping of all the zinc concentrate stocks that were stored," Sally Cox, a spokeswoman for Minmetals' Melbourne-based MMG unit, said yesterday. The mine in Queensland state is the world's second-largest open-pit zinc operation.   Customers including Nyrstar NV, the world's largest smelter of zinc, will source alternative supplies while the company seeks to complete repairs to the pipeline that ruptured on Oct 5, Cox said.   Zinc, used to galvanize steel, has surged 88 percent this year in London as a 4 trillion yuan government spending program stoked demand in China.   "The impact on prices will be limited as the world is not short of zinc given stockpiles have risen so much this year," Liu Biyuan, an analyst at GF Futures Co, said. "As well, higher prices encourage a resumption of output that was stopped because of the economic slowdown."   Credit Suisse Group AG last week raised its average zinc price forecast for 2010 by 36 percent to $2,100 a ton.   Stockpiles of zinc tallied by the London Metal Exchange have jumped 71 percent since the beginning of the year as a global recession curbed demand. Inventories in Shanghai warehouses last week were at their highest since the exchange started trading zinc futures in April 2007.   A bypass will likely be connected to the main Century mine pipeline by the end of this week and will be tested with water before restarting concentrate production, Cox said. She wouldn't say whether the company had declared force majeure, a legal clause that allows a company to miss deliveries because of circumstances beyond its control.   "We've been in ongoing contact with the customers," she said. "We are confident they will want to take up the stock again once we are able to supply it."   Century produced 158,603 tons of zinc concentrate in the September quarter, MMG said on Oct 26.   &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[Pudong gets C919 final assembly line]]></title>
<news_id>6817224</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817224.html ]]></link>
<pubDate>2009-11-19 08:28:51</pubDate>
<description><![CDATA[Commercial Aircraft Corp of China Ltd (COMAC), which is in charge of the indigenous C919 passenger airplane program, announced yesterday that it would set up its final assembly line in the city's Pudong New District.  The center, located south of Pudong International Airport, is divided into Pudong Base and Dachang Base, with the former covering an area of 267 hectares, Jin Zhuanglong, general manager of COMAC, said in Shanghai.  Construction of the Pudong base will start by year-end, and it ...]]></description>
<full-text><![CDATA[Commercial Aircraft Corp of China Ltd (COMAC), which is in charge of the indigenous C919 passenger airplane program, announced yesterday that it would set up its final assembly line in the city's Pudong New District.  The center, located south of Pudong International Airport, is divided into Pudong Base and Dachang Base, with the former covering an area of 267 hectares, Jin Zhuanglong, general manager of COMAC, said in Shanghai.  Construction of the Pudong base will start by year-end, and it targets to manufacture 20 homegrown C919 jets and 50 ARJ 21-series planes annually by 2016, the company said.  The division, which has a registered capital of 2 billion yuan, is among COMAC's three key units responsible for aircraft design, manufacturing and service. Work on the manufacturer's research and development center started in Pudong's Zhangjiang Hi-tech Park this July.  "Assembly and manufacturing are among the core capabilities that ensure the business success of ARJ 21 and C919 passenger planes and it will largely boost China's civil airplane industry," Jin said.  Shanghai-based COMAC was established in May 2008 with 19 billion yuan in registered capital to take on Boeing and Airbus in China's fledgling but booming aviation market by building a home grown 150-seat passenger aircraft.  The airplane manufacturer unveiled a model of the narrow-body C919 plane at the Asia Aerospace Expo in Hong Kong this September. The C919 is expected to take off in 2014 and enter service in 2016.  COMAC aims to become one of the Big Three aircraft manufacturers in the world to compete with Boeing and Airbus, Chen Jin, general manger of COMAC's sales and marketing department was earlier quoted by Reuters as saying.  China has become one of the world's fastest-growing aviation markets. According to the Civil Aviation Administration of China, the country's passenger traffic volume reached 191.9 million in the first 10 months of 2009, up 19.8 percent from the previous year.  &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Phone giant bullish on 3G adoption]]></title>
<news_id>6817202</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817202.html ]]></link>
<pubDate>2009-11-19 08:27:02</pubDate>
<description><![CDATA[China's largest cell phone operator, China Mobile, said yesterday that 3 million users were likely to subscribe to its third generation (3G) service by year-end and that the company was still in talks with Apple Inc to sell iPhones in the world's largest mobile phone market.  Wang Jianzhou, chairman of China Mobile, said in Hong Kong that the company expected 3 million subscribers to use its TD-SCDMA service by next month, nearly double the 1.66 million users it had in September.  He said Ch ...]]></description>
<full-text><![CDATA[China's largest cell phone operator, China Mobile, said yesterday that 3 million users were likely to subscribe to its third generation (3G) service by year-end and that the company was still in talks with Apple Inc to sell iPhones in the world's largest mobile phone market.  Wang Jianzhou, chairman of China Mobile, said in Hong Kong that the company expected 3 million subscribers to use its TD-SCDMA service by next month, nearly double the 1.66 million users it had in September.  He said China Mobile's 3G network was expected to expand to 238 cities by the end of this year, covering 70 percent of the country's area.  On the sidelines of a conference yesterday, Wang also confirmed that the company was still in talks with Apple to sell the iPhone in China, although its rival China Unicom, which launched its WCDMA-based 3G service one month ago, had already started shipping the popular smartphone in the country.  "We would like to make the (handset) market more diversified and encourage all handset vendors to sell more models," he said, according to a report in the Wall Street Journal.   China Unicom has been criticized for selling the smartphone at an unreasonably high price. The company reportedly sold only 5,000 iPhones during the first weekend of debut.  But the company's chairman Chang Xiaobing told reporters on Tuesday he expected the device to become the country's top-selling smartphone.  Ever since the Chinese government gave out the long-awaited 3G licenses this year, China Mobile, China Unicom and China Telecom have been actively deploying their 3G networks, in hopes that the new service, which enable data-heavy applications such as mobile Internet, online games and mobile TV, could help compensate declining revenue from their traditional voice services.  Chang from China Unicom told reporters yesterday that the average revenue per user for its 3G service was touching the 100-yuan ($14.65) mark, more than double that of its GSM service.  "We recognize clearly that it is difficult or even impossible to boost per-unit spending in the voice market," Reuters reported Chang as saying.  According to figures from the National Bureau of Statistics, China's mobile subscribers surpassed 710 million by August, with China Mobile taking up over 70 percent of the market share.  Experts said China Mobile's dominant position is expected to be challenged by its two smaller rivals in the 3G era, as the company was ordered to adopt the homegrown TD-SCDMA standard, a less mature technology, for its 3G network.  Wang from China Mobile said yesterday that the company has invested 80 million yuan in handset subsidies last year and the number was expected to touch 120 million yuan this year as mobile phone vendors lacked incentives to develop a handset based on its TD-SCDMA standard.  Michael O'Hara, chief marketing officer of the GSM Association, told Reuters in an interview yesterday that China Mobile was expected to accelerate the deployment of fourth-generation mobile technology, long term evolution (LTE).  "China Mobile will be an early adapter. We expect China Mobile to do (LTE) trials in 2010, and deployment in 2011," he said.  China Mobile has previously confirmed that it would build an LTE network in Shanghai when the World Expo takes place there next year.  &$<i>&$Source:China Daily&$</i>&$  ]]></full-text>
</item>
<item>
<title><![CDATA[China's State Grid says coal stocks sustainable as demand for power supply rises with snow ]]></title>
<news_id>6817184</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817184.html ]]></link>
<pubDate>2009-11-19 08:22:55</pubDate>
<description><![CDATA[Coal stocks for power plants were above the "alert" level in snow-hit regions in China, which would ensure adequate and continuous power supply, a senior official of State Grid Corp. of China (SGCC) told Xinhua Wednesday.       Currently the accumulative coal stocks for power plants directly supplying electricity to the SGCC are about 27 million tons, according to the SGCC.       Power distribution network of SGCC, the country's largest powertransmission and distribution company, covers 88 p ...]]></description>
<full-text><![CDATA[Coal stocks for power plants were above the "alert" level in snow-hit regions in China, which would ensure adequate and continuous power supply, a senior official of State Grid Corp. of China (SGCC) told Xinhua Wednesday.       Currently the accumulative coal stocks for power plants directly supplying electricity to the SGCC are about 27 million tons, according to the SGCC.       Power distribution network of SGCC, the country's largest powertransmission and distribution company, covers 88 percent of the country's territory, and provides electricity for 1 billion people.       The "alert level" for coal stocks differed in different power plants in different regions, said the official, who asked to be unnamed. For power plants near coal mines, 3 days of use would be an "alert level", and less than 7 days of use would be an alert for power plants in central Hunan Province, he said.       "Coal stocks are nothing to worry about," the official said. "The crucial thing is the follow-up refill which depends highly ontransportation."       The snowfall, which began on Nov. 9, was unseen in decades in some northern and central provinces including Hebei, Shanxi and Henan, paralyzing traffics and hindering coal transportation.       "The power supply in the north would not be a big problem as the snow did not affect the railway much and the highways are recovering for traffic," he said.       About 70 percent of coal supply in north China are transportedby railway from Shanxi Province, and about 30 percent by highway, he added.       The snow continued to move southward and blanket Anhui and Hubei provinces on Monday, spurring concerns it would cause troubles for power supply like the snow storm in early 2008, whichparalyzed power lines in the southern part of the country.       Compared with the damage of the snow storm last year, the snow and blizzard this year caused little damage to the electricity facilities, according to the SGCC.       Shanghai, the country's business hub in the east, faced a shortage of coal for power generation after 4 power-generating sets stopped working caused by a sudden surge of power demand, thecity's government said in a notice on its web site Wednesday.       The shortage was a result of hindered coal transportation from the Qinhuangdao Port, the country's largest coal port, which provided a major part of coal for power plants in the south and along the Yangtze River.       The coal supply was affected by the snow in the north and the thick coastal fog, but the situation had got better as the weather cleared up, the official said.       The daily coal throughput at Qinhuangdao climbed from 523,000 tons on Nov. 11 to 667,000 tons on Nov. 17, according to the data provided by the Qinhuangdao port. Coal inventory reduced to 7.8 million tons on Nov. 17 from more than 8.5 million tons on Nov. 11.       Nearly 100 ships carrying coal left the Qinhuangdao port safely Tuesday, heading for power plants in south China.       The rainy and snowy weather along the Yangtze River area in southern China are expected&amp;nbsp ]]></full-text>
</item>
<item>
<title><![CDATA[Agency: Economic growth to top 9% in 2010]]></title>
<news_id>6817145</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6817145.html ]]></link>
<pubDate>2009-11-19 08:07:10</pubDate>
<description><![CDATA[BEIJING: China's economy is expected to grow by 9 percent next year on robust property and automobile sectors, chairman of CCXI, a China-based credit rating agency said Tuesday.  Mao Zhenhua, the chairman, also forecast the country's GDP growth this year would expand by as much as 8.8 percent. He added China's economic growth for the next ten years would slightly fall from the peak in 2010 to around 7 percent around 2020, still a relatively fast pace compared to other countries.  But he caut ...]]></description>
<full-text><![CDATA[BEIJING: China's economy is expected to grow by 9 percent next year on robust property and automobile sectors, chairman of CCXI, a China-based credit rating agency said Tuesday.  Mao Zhenhua, the chairman, also forecast the country's GDP growth this year would expand by as much as 8.8 percent. He added China's economic growth for the next ten years would slightly fall from the peak in 2010 to around 7 percent around 2020, still a relatively fast pace compared to other countries.  But he cautioned the heavy reliance on exports and investment as major drivers to the Chinese economy has not changed currently, and that the structure for economic growth has not been optimized.  Mao made the remarks while addressing a conference that also shared outlooks for China's property market, and its automobile industry for the next year.  "China's property market is to remain steady in the next 6 or 12 months due to strong underlying housing demand in the country," said Kaven Tsang, assistant vice president of Moody's Investors Service Hong Kong Limited.  He attributed strong housing demand to rapid economic growth, expanding urbanization and rising living standards in the country.  Reduced inventory after strong sales over the past few quarters and improved liquidity of developers are also preventing a substantial decline in the property sector, he said.  According to the National Bureau of Statistics (NBS), housing sales in China reached 2.75 trillion yuan (403 billion US dollars) in value for the first three quarters this year, a year-on-year increase of 73 percent.  Amid weak exports, the Chinese government will also continue to promote domestic consumption and see fixed-asset investment increase, with the property sector remaining "central" to the Chinese economy, said Tsang.  NBS figures show investment in the real estate sector in China posted a 28.4 percent growth in October this year.  The CCXI also forecast China would continue to see robust growth in auto sales in 2010, driven by the steady development of national economy, rise in individual income and stronger demand from China's central and west regions.  Chang Haizhong, senior CCXI analyst, said "cars have great market potential in the central and west regions which will become a new growth point for auto industry."  For example, sales of heavy trucks are expected to grow considerably next year, boosted by the government's massive fixed-asset investment, fast development of logistics and expansion of expressway network.  "Bus and sightseeing coach sales will also rise next year, as the government is determined to step up development of public transit systems, and people show more willingness to travel," Chang said.  He also said auto joint ventures in the country would try to seek a bigger share of middle and low-end market while keeping the dominant position in high-end market next year, posing a threat to domestic self-owned automakers.  Chevrolet, an arm of Shanghai GM, introduced SAIL, a new car model last week. Sales of the new model, priced less than 60,000 yuan, would start in January next year.  In the first ten months this year, auto sales in China broke the 10 million mark to 10.89 million units, up 36.23 percent from a year ago, surpassing the United States as the world's largest auto market.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Emerging markets face risk of asset bubbles: Chinese economist]]></title>
<news_id>6817124</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90862/6817124.html ]]></link>
<pubDate>2009-11-18 21:54:04</pubDate>
<description><![CDATA[Emerging markets are facing a real risk of possible asset bubbles in the short run given the excessive liquidity in the international system, a well-known Chinese economist and central bank advisor said Wednesday.       Speaking at a real estate industry forum in Hong Kong, Fan Gang, director of the National Economics Research Institute, China Reform Foundation, said excessive liquidity in the global system, extremely low interest rates and devaluating pressure on the U.S. dollar were among th ...]]></description>
<full-text><![CDATA[Emerging markets are facing a real risk of possible asset bubbles in the short run given the excessive liquidity in the international system, a well-known Chinese economist and central bank advisor said Wednesday.       Speaking at a real estate industry forum in Hong Kong, Fan Gang, director of the National Economics Research Institute, China Reform Foundation, said excessive liquidity in the global system, extremely low interest rates and devaluating pressure on the U.S. dollar were among the reasons for the emerging economies to be alert.       "For an economy like China, asset bubble is something very dangerous. That will cause an overall bubble ... overheating in some other areas," he said.       Not only China, but all the emerging economies face the scenario of asset bubbles, Fan said, adding that policy makers should respond to such a risk.       There could be a rush of capital flows into the emerging markets, currently the places with promising growth prospects, he said.       Fan said the prices for certain high-end real estate projects in China were "crazy."       He said inflation in the consumer price index will not be a risk in the foreseeable future due to widespread manufacturing overcapacity and the stabilized food prices.       Fan, a member of the monetary policy committee of the People's Bank of China, said he expected the Chinese economic growth to be between 8 percent and 9 percent, followed by very optimistic growth prospects over the next decades.       Rebounds in real estate investment, corporate investment and exports could take over as the drives for the Chinese economy to grow after the stimulus effect fades.       However, there could be a double-dip downturn for the United States economy, Fan said.       There were "signs of re-leveraging" but no progress on the called-for reforms. The toxic assets were still there and there could be further stocking adjustments, he said.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China Mobile has started preparation for listing on Shanghai's int'l board: chairman]]></title>
<news_id>6817118</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817118.html ]]></link>
<pubDate>2009-11-18 21:48:39</pubDate>
<description><![CDATA[The preparation for the possible listing of China Mobile on the awaited international board of the Shanghai Stock Exchange has been kicked off, company chairman Wang Jianzhou said Wednesday.       Speaking at an industry forum in Hong Kong, Wang said the listing still awaited finalization of detailed arrangements for listing on the international board, a new trading system of the bourse expected to pave the way for listing of foreign firms on the Chinese mainland.       China Mobile, now lis ...]]></description>
<full-text><![CDATA[The preparation for the possible listing of China Mobile on the awaited international board of the Shanghai Stock Exchange has been kicked off, company chairman Wang Jianzhou said Wednesday.       Speaking at an industry forum in Hong Kong, Wang said the listing still awaited finalization of detailed arrangements for listing on the international board, a new trading system of the bourse expected to pave the way for listing of foreign firms on the Chinese mainland.       China Mobile, now listed in Hong Kong, has shown interests for a return to domestic listing, but there has been no appropriate way readily available.       Wang said the number of subscribers for its 3G network TD-SCDMA has exceeded 3 million, adding that the types of TD-SCDMA phones were still short of demand.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Eurozone construction output down by 1.1% in September]]></title>
<news_id>6817099</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817099.html ]]></link>
<pubDate>2009-11-18 21:12:31</pubDate>
<description><![CDATA[Seasonally adjusted production in the construction sector in the 16-nation eurozone fell by 1.1 percent in September compared with the previous month, official statistics showed on Wednesday.       In August, production in the sector rose by 0.1 percent in the eurozone, the European Union (EU) official statistics agency Eurostat, said.       Compared with a year ago, construction output dropped by 8.0 percent in September in the euro area.       In the 27-nation EU, construction output als ...]]></description>
<full-text><![CDATA[Seasonally adjusted production in the construction sector in the 16-nation eurozone fell by 1.1 percent in September compared with the previous month, official statistics showed on Wednesday.       In August, production in the sector rose by 0.1 percent in the eurozone, the European Union (EU) official statistics agency Eurostat, said.       Compared with a year ago, construction output dropped by 8.0 percent in September in the euro area.       In the 27-nation EU, construction output also dropped by 1.1 percent in September, compared with the previous month and by 9.4 percent for the same month last year.       Among the member states for which data are available for September 2009, the highest increases were recorded in the Czech Republic, which rose by 2.4 percent, and the largest decreases in Slovenia, which was minus 10.4 percent.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Eurozone construction output down by 1.1% in September]]></title>
<news_id>6817099</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90865/6817099.html ]]></link>
<pubDate>2009-11-18 21:12:31</pubDate>
<description><![CDATA[Seasonally adjusted production in the construction sector in the 16-nation eurozone fell by 1.1 percent in September compared with the previous month, official statistics showed on Wednesday.       In August, production in the sector rose by 0.1 percent in the eurozone, the European Union (EU) official statistics agency Eurostat, said.       Compared with a year ago, construction output dropped by 8.0 percent in September in the euro area.       In the 27-nation EU, construction output als ...]]></description>
<full-text><![CDATA[Seasonally adjusted production in the construction sector in the 16-nation eurozone fell by 1.1 percent in September compared with the previous month, official statistics showed on Wednesday.       In August, production in the sector rose by 0.1 percent in the eurozone, the European Union (EU) official statistics agency Eurostat, said.       Compared with a year ago, construction output dropped by 8.0 percent in September in the euro area.       In the 27-nation EU, construction output also dropped by 1.1 percent in September, compared with the previous month and by 9.4 percent for the same month last year.       Among the member states for which data are available for September 2009, the highest increases were recorded in the Czech Republic, which rose by 2.4 percent, and the largest decreases in Slovenia, which was minus 10.4 percent.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Mitsubishi UFJ FG announces profit gains]]></title>
<news_id>6817098</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817098.html ]]></link>
<pubDate>2009-11-18 21:10:53</pubDate>
<description><![CDATA[&$<center><img src='/mediafile/200911/18/P200911182110465509149261.jpg'> <font color='#0000ff'>&$A man walks past a signboard of Mitsubishi UFJ Financial Group's bank at its branch in Tokyo November 18, 2009.(Xinhua/Reuters Photo)&$</font></center>&$ Japan's top bank Mitsubishi UFJ Financial Group (MUFG) announced Wednesday its first-half net profit for April-September period surged 53.2 percent from a year earlier to 140.95 billion yen (1.6 billion U.S. dollars).       MUFG, who posted lo ...]]></description>
<full-text><![CDATA[&$<center><img src='/mediafile/200911/18/P200911182110465509149261.jpg'> <font color='#0000ff'>&$A man walks past a signboard of Mitsubishi UFJ Financial Group's bank at its branch in Tokyo November 18, 2009.(Xinhua/Reuters Photo)&$</font></center>&$ Japan's top bank Mitsubishi UFJ Financial Group (MUFG) announced Wednesday its first-half net profit for April-September period surged 53.2 percent from a year earlier to 140.95 billion yen (1.6 billion U.S. dollars).       MUFG, who posted losses of 256.9 million yen (2.89 billion U.S. dollars) in net losses in fiscal 2008, cited its gains made in the past six months were due to the mega bank's positive returns on investments made in stocks and bonds as well as increased capital gains made through its corporate lending infrastructure, which is Japan's largest.       According to a statement made by the bank Wednesday, it's original forecast of net profits amounting to 300 billion yen for the year through March, has remained unchanged.       MUFG further announced Wednesday that it will join forces with global financial services firm Morgan Stanley and create two new companies through the integration of the two firms' brokerage and securities divisions, consolidating their operations in Japan. In a joint statement made by the two companies the U.S. firm will be allowed to maintain a voting majority at its Japanese brokerage.       Under their initial plan, MUFG and Morgan Stanley agreed to merge the whole units, with Morgan Stanley originally agreeing to integrate Mitsubishi UFJ Securities Co. and Morgan Stanley Japan Securities Co., with MUFG to take a 60 percent stake in the merged entity, and its U.S. counterpart a 40 percent controlling interest. However the revised plans, which now make allowances for the U.S. firm to continue to utilize its global network for stock dealings, sees a joint venture between the two financial giants.       Statements made by representatives from both parties on Wednesday said the merger will now comprise a two-company structure and according to a MUFG spokesperson the merger between its brokerage unit and Morgan Stanley, will be delayed until May, two months later than originally planned.       Current plans are for one of the companies to be called Mitsubishi UFJ Morgan Stanley Securities Co. and will be 60 percent owned by MUFG and 40 percent owned by Morgan Stanley. Morgan Stanley's investment banking business will fall under the umbrella of this company, as will MUFG's wholesale and retail operations.       The second company in the joint venture will see Morgan Stanley having a 51 percent controlling stake and will operate under the designation Morgan Stanley MUFG Securities Co. This side of the company will be responsible for the equity and bond trading businesses of Morgan Stanley.       Morgan Stanley Chief Executive Officer John Mack turned to Mitsubishi UFJ in September 2008 and the Japanese bank bought about 20 percent of Morgan Stanley for 9 billion U.S. dollars, at the height of the global financial crisis, in a move that bolstered the U.S. bank's shaken finances while allowing MUFG to broaden its global reach. But Morgan Stanley's fortunes have improved dramatically since then.       Morgan Stanley reported two consecutive quarters of profit and repaid&a ]]></full-text>
</item>
<item>
<title><![CDATA[Mitsubishi UFJ FG announces profit gains]]></title>
<news_id>6817098</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817098.html ]]></link>
<pubDate>2009-11-18 21:10:53</pubDate>
<description><![CDATA[&$<center><img src='/mediafile/200911/18/P200911182110465509149261.jpg'> <font color='#0000ff'>&$A man walks past a signboard of Mitsubishi UFJ Financial Group's bank at its branch in Tokyo November 18, 2009.(Xinhua/Reuters Photo)&$</font></center>&$ Japan's top bank Mitsubishi UFJ Financial Group (MUFG) announced Wednesday its first-half net profit for April-September period surged 53.2 percent from a year earlier to 140.95 billion yen (1.6 billion U.S. dollars).       MUFG, who posted lo ...]]></description>
<full-text><![CDATA[&$<center><img src='/mediafile/200911/18/P200911182110465509149261.jpg'> <font color='#0000ff'>&$A man walks past a signboard of Mitsubishi UFJ Financial Group's bank at its branch in Tokyo November 18, 2009.(Xinhua/Reuters Photo)&$</font></center>&$ Japan's top bank Mitsubishi UFJ Financial Group (MUFG) announced Wednesday its first-half net profit for April-September period surged 53.2 percent from a year earlier to 140.95 billion yen (1.6 billion U.S. dollars).       MUFG, who posted losses of 256.9 million yen (2.89 billion U.S. dollars) in net losses in fiscal 2008, cited its gains made in the past six months were due to the mega bank's positive returns on investments made in stocks and bonds as well as increased capital gains made through its corporate lending infrastructure, which is Japan's largest.       According to a statement made by the bank Wednesday, it's original forecast of net profits amounting to 300 billion yen for the year through March, has remained unchanged.       MUFG further announced Wednesday that it will join forces with global financial services firm Morgan Stanley and create two new companies through the integration of the two firms' brokerage and securities divisions, consolidating their operations in Japan. In a joint statement made by the two companies the U.S. firm will be allowed to maintain a voting majority at its Japanese brokerage.       Under their initial plan, MUFG and Morgan Stanley agreed to merge the whole units, with Morgan Stanley originally agreeing to integrate Mitsubishi UFJ Securities Co. and Morgan Stanley Japan Securities Co., with MUFG to take a 60 percent stake in the merged entity, and its U.S. counterpart a 40 percent controlling interest. However the revised plans, which now make allowances for the U.S. firm to continue to utilize its global network for stock dealings, sees a joint venture between the two financial giants.       Statements made by representatives from both parties on Wednesday said the merger will now comprise a two-company structure and according to a MUFG spokesperson the merger between its brokerage unit and Morgan Stanley, will be delayed until May, two months later than originally planned.       Current plans are for one of the companies to be called Mitsubishi UFJ Morgan Stanley Securities Co. and will be 60 percent owned by MUFG and 40 percent owned by Morgan Stanley. Morgan Stanley's investment banking business will fall under the umbrella of this company, as will MUFG's wholesale and retail operations.       The second company in the joint venture will see Morgan Stanley having a 51 percent controlling stake and will operate under the designation Morgan Stanley MUFG Securities Co. This side of the company will be responsible for the equity and bond trading businesses of Morgan Stanley.       Morgan Stanley Chief Executive Officer John Mack turned to Mitsubishi UFJ in September 2008 and the Japanese bank bought about 20 percent of Morgan Stanley for 9 billion U.S. dollars, at the height of the global financial crisis, in a move that bolstered the U.S. bank's shaken finances while allowing MUFG to broaden its global reach. But Morgan Stanley's fortunes have improved dramatically since then.       Morgan Stanley reported two consecutive quarters of profit and repaid&a ]]></full-text>
</item>
<item>
<title><![CDATA[Indonesia to cut import tariff for engine, materials]]></title>
<news_id>6817097</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817097.html ]]></link>
<pubDate>2009-11-18 21:08:59</pubDate>
<description><![CDATA[The Indonesian Finance Ministry has decided to reduce import tariffs for engines and materials for construction used by industries to zero as an effort to boost investment in the country, spokesman of the ministry Harry Z. Soeatin said here Wednesday.       The spokesman said that the regulation would take affect at mid of December and it would be evaluate within first two-year of implementation.       "The exemption of import tariff facility aims to attract investment and spur economic grow ...]]></description>
<full-text><![CDATA[The Indonesian Finance Ministry has decided to reduce import tariffs for engines and materials for construction used by industries to zero as an effort to boost investment in the country, spokesman of the ministry Harry Z. Soeatin said here Wednesday.       The spokesman said that the regulation would take affect at mid of December and it would be evaluate within first two-year of implementation.       "The exemption of import tariff facility aims to attract investment and spur economic growth amid the tough global competition," he said at the ministry.       "The policy was made to support firms that carry out industrial activities," Soeatin said.       The southeast Asia largest economy along with other ASEAN peers, has struggled to recover from the fallout of the global financial routs.       Indonesia has attempted to boost its declining exports during the global crisis by strengthen competitiveness, as the global demand and prices of export products from emerging markets, including Indonesia, has started to rise.  &$<i>&$ Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Indonesia to cut import tariff for engine, materials]]></title>
<news_id>6817097</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817097.html ]]></link>
<pubDate>2009-11-18 21:08:59</pubDate>
<description><![CDATA[The Indonesian Finance Ministry has decided to reduce import tariffs for engines and materials for construction used by industries to zero as an effort to boost investment in the country, spokesman of the ministry Harry Z. Soeatin said here Wednesday.       The spokesman said that the regulation would take affect at mid of December and it would be evaluate within first two-year of implementation.       "The exemption of import tariff facility aims to attract investment and spur economic grow ...]]></description>
<full-text><![CDATA[The Indonesian Finance Ministry has decided to reduce import tariffs for engines and materials for construction used by industries to zero as an effort to boost investment in the country, spokesman of the ministry Harry Z. Soeatin said here Wednesday.       The spokesman said that the regulation would take affect at mid of December and it would be evaluate within first two-year of implementation.       "The exemption of import tariff facility aims to attract investment and spur economic growth amid the tough global competition," he said at the ministry.       "The policy was made to support firms that carry out industrial activities," Soeatin said.       The southeast Asia largest economy along with other ASEAN peers, has struggled to recover from the fallout of the global financial routs.       Indonesia has attempted to boost its declining exports during the global crisis by strengthen competitiveness, as the global demand and prices of export products from emerging markets, including Indonesia, has started to rise.  &$<i>&$ Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Hong Kong stocks finish lower 0.32%]]></title>
<news_id>6817096</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817096.html ]]></link>
<pubDate>2009-11-18 21:08:12</pubDate>
<description><![CDATA[Hong Kong stocks finished lower Wednesday dragged by profit-taking, with the benchmark Hang Seng index went down 73.82 points, or 0.32 percent, to close at 22,840.33.       The index opened up 60.21 points, or 0.26 percent at 22,974.36 on Wednesday, tracking overnight gains on the Wall Street. It traded between 23,099.57 and 22,645.74 with turnover climbing to 76.69 billion HK dollars (about 9.91 billion U. S. dollars) from Tuesday's 71.59 billion HK dollars.       Traders said they expect t ...]]></description>
<full-text><![CDATA[Hong Kong stocks finished lower Wednesday dragged by profit-taking, with the benchmark Hang Seng index went down 73.82 points, or 0.32 percent, to close at 22,840.33.       The index opened up 60.21 points, or 0.26 percent at 22,974.36 on Wednesday, tracking overnight gains on the Wall Street. It traded between 23,099.57 and 22,645.74 with turnover climbing to 76.69 billion HK dollars (about 9.91 billion U. S. dollars) from Tuesday's 71.59 billion HK dollars.       Traders said they expect the index to consolidate further in the near term before resuming its up trend, after investors turned cautious following the near 16-month intra-day high hit in Wednesday trading.       The Hang Seng China Enterprises Index dipped 44.04 points, or 0. 32 percent to 13,688.01.       For the four major stock categories, the commerce and industry sub-index was the only gainer, moving up 0.37 percent. The finance sub-index shed 0.64 percent, the utilities lost 0.04 percent, and the property was down 1.17 percent.       Heavyweight HSBC Holdings lost 0.9 percent to 96.5 HK dollars, while another heavyweight China Mobile, the largest mobile carrierin China's mainland, advanced 2.49 percent to 76.15 HK dollars. Smaller rival China Unicom surged 1.91 percent at 10.70 HK dollars.       Mainland-based commercial lenders ended mostly lower. Bank of China closed down 2.03 percent at 4.83 HK dollars. CCB moved 0.68 percent down to 7.24 HK dollars. Bank of Communication dropped 0. 61 percent to 9.83 HK dollars. ICBC however bucked the trend to go up as much as 1.74 percent to 7.02 HK dollars.       Hang Lung Properties fell 2.98 percent to 30.95 HK dollars, leading the decline among property shares. Local properties were also losers. Cheung Kong, the flagship of Hong Kong's richest man Li Ka-shing, fell 0.77 percent to 96.85 HK dollars. Henderson Land dropped 0.36 percent to 54.80 HK dollars. SHK Properties lost 0.77percent to 116.80 HK dollars.       Chinese insurance shares finished mixed. PICC P&C slid 2.30 percent to 5.95 HK dollars. Ping An fell 1.49 percent to 72.75 HK dollars. China Life rose 0.64 percent to 39.05 HK dollars.       As for energy shares, Sinopec Corp gained 1.47 percent to 6.89 HK dollars, off-shore oil producer CNOOC lost 0.93 percent to 12.74 HK dollars and PetroChina stayed unchanged.       Blue-chip retailer Esprit ended up 0.95 percent to 53.40 HK dollars.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Nikkei dragged down by equity financing, real estate, financial issues]]></title>
<news_id>6817095</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817095.html ]]></link>
<pubDate>2009-11-18 21:07:18</pubDate>
<description><![CDATA[ Japan's 225-issue Nikkei Stock Average fell 0.55 percent on Wednesday to its lowest close in six weeks as real estate developers and banks weighed heavily on markets in an ongoing pattern of Japanese corporate equity financing. The key benchmark Nikkei lost 51.13 points from Tuesday to close at 9,674.49, its lowest close since Oct. 5.       The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 6.94 points, the equivalent of 0.81 percent to 846.55, it's lowes ...]]></description>
<full-text><![CDATA[ Japan's 225-issue Nikkei Stock Average fell 0.55 percent on Wednesday to its lowest close in six weeks as real estate developers and banks weighed heavily on markets in an ongoing pattern of Japanese corporate equity financing. The key benchmark Nikkei lost 51.13 points from Tuesday to close at 9,674.49, its lowest close since Oct. 5.       The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 6.94 points, the equivalent of 0.81 percent to 846.55, it's lowest close since May 1.       The continued strengthening of the yen against the dollar negatively impacted exporter shares and Japan Airline Corp's stock plummeted to a record low in trading Wednesday, further contributing to pervasive negative investor sentiment.       Ongoing uncertainty about the sustainability of government stimulus measures coupled with abstruse economic policies to offset deflation and concerns about a resurgent domestic economic downturn are doing little to appease market sentiment.       "All we're seeing are negative cues -- the risk of JAL going bankrupt, an anticipated announcement later today by Mitsubishi UFJ Financial on its equity financing plan, and there are probably more to follow," said Fumiyuki Nakanishi, chief equity strategist at SMBC Friend Securities Co.       Ailing carrier Japan Airlines Corp. saw its stock touch its lowest level since the firm's 2002 integration with Japan Air Systems. JAL shed 3.92 percent to 98 yen on Wednesday after the nation's transport minister Seiji Maehara declined to rule out court-led liquidation proceedings. Reports that a private equity company may inject U.S. 1.1 billion dollars into the struggling carrier failed to spark investor interest, brokers said.       Diversified banking and other financial issues were particular drags on the market Wednesday, as were real estate firms, amid speculation about monumental fundraising initiatives through share-issuance.       Mitsubishi UFJ Financial Group, Japan's biggest bank, is set to announce results later on Wednesday and according to sources close to the matter the bank is likely to announce its plans for capital-raising.       "Fears that planned corporate fundraising will dilute the value of outstanding shares and that such massive financing moves will continue through early 2010 have been weighing on the market recently," said Hiroichi Nishi, equity manager at Cordial Securities Inc.       Japan's top lender Mitsubishi UFG Financial Group lost 0.6 percent to 484 yen, whilst Sumitomo Mitsui Financial Group dropped5.9 percent to 2,850 yen. Mizuho Financial Group also ended the day in negative territory falling 2.4 percent to 166 yen at the 3 p.m. close.       Within Japan's real estate sector Heiwa Real Estate Co. Ltd. slumped 5.8 percent to 275 yen and its counterpart Mitsubishi Estate Co. Ltd also closed down, dropping 4.59 percent to 1,307 yen. Tokyo Land Corp. was one of the biggest decliners on the Nikkei Wednesday, retreating 10.70 percent to 292 yen. Taiheyo Cement Corp. also ended trade marking significant losses of 10.61 percent to close at 101 yen.       As significant declines were spread across real estate, consumer finance and metal works Wednesday, with Japan Steel Works Ltd. closing down 0.98&am ]]></full-text>
</item>
<item>
<title><![CDATA[Nikkei dragged down by equity financing, real estate, financial issues]]></title>
<news_id>6817095</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817095.html ]]></link>
<pubDate>2009-11-18 21:07:18</pubDate>
<description><![CDATA[ Japan's 225-issue Nikkei Stock Average fell 0.55 percent on Wednesday to its lowest close in six weeks as real estate developers and banks weighed heavily on markets in an ongoing pattern of Japanese corporate equity financing. The key benchmark Nikkei lost 51.13 points from Tuesday to close at 9,674.49, its lowest close since Oct. 5.       The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 6.94 points, the equivalent of 0.81 percent to 846.55, it's lowes ...]]></description>
<full-text><![CDATA[ Japan's 225-issue Nikkei Stock Average fell 0.55 percent on Wednesday to its lowest close in six weeks as real estate developers and banks weighed heavily on markets in an ongoing pattern of Japanese corporate equity financing. The key benchmark Nikkei lost 51.13 points from Tuesday to close at 9,674.49, its lowest close since Oct. 5.       The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 6.94 points, the equivalent of 0.81 percent to 846.55, it's lowest close since May 1.       The continued strengthening of the yen against the dollar negatively impacted exporter shares and Japan Airline Corp's stock plummeted to a record low in trading Wednesday, further contributing to pervasive negative investor sentiment.       Ongoing uncertainty about the sustainability of government stimulus measures coupled with abstruse economic policies to offset deflation and concerns about a resurgent domestic economic downturn are doing little to appease market sentiment.       "All we're seeing are negative cues -- the risk of JAL going bankrupt, an anticipated announcement later today by Mitsubishi UFJ Financial on its equity financing plan, and there are probably more to follow," said Fumiyuki Nakanishi, chief equity strategist at SMBC Friend Securities Co.       Ailing carrier Japan Airlines Corp. saw its stock touch its lowest level since the firm's 2002 integration with Japan Air Systems. JAL shed 3.92 percent to 98 yen on Wednesday after the nation's transport minister Seiji Maehara declined to rule out court-led liquidation proceedings. Reports that a private equity company may inject U.S. 1.1 billion dollars into the struggling carrier failed to spark investor interest, brokers said.       Diversified banking and other financial issues were particular drags on the market Wednesday, as were real estate firms, amid speculation about monumental fundraising initiatives through share-issuance.       Mitsubishi UFJ Financial Group, Japan's biggest bank, is set to announce results later on Wednesday and according to sources close to the matter the bank is likely to announce its plans for capital-raising.       "Fears that planned corporate fundraising will dilute the value of outstanding shares and that such massive financing moves will continue through early 2010 have been weighing on the market recently," said Hiroichi Nishi, equity manager at Cordial Securities Inc.       Japan's top lender Mitsubishi UFG Financial Group lost 0.6 percent to 484 yen, whilst Sumitomo Mitsui Financial Group dropped5.9 percent to 2,850 yen. Mizuho Financial Group also ended the day in negative territory falling 2.4 percent to 166 yen at the 3 p.m. close.       Within Japan's real estate sector Heiwa Real Estate Co. Ltd. slumped 5.8 percent to 275 yen and its counterpart Mitsubishi Estate Co. Ltd also closed down, dropping 4.59 percent to 1,307 yen. Tokyo Land Corp. was one of the biggest decliners on the Nikkei Wednesday, retreating 10.70 percent to 292 yen. Taiheyo Cement Corp. also ended trade marking significant losses of 10.61 percent to close at 101 yen.       As significant declines were spread across real estate, consumer finance and metal works Wednesday, with Japan Steel Works Ltd. closing down 0.98&am ]]></full-text>
</item>
<item>
<title><![CDATA[China to step up efforts to crack down on bank card crimes]]></title>
<news_id>6817094</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817094.html ]]></link>
<pubDate>2009-11-18 20:56:24</pubDate>
<description><![CDATA[The People's Bank of China (PBOC) and the Ministry of Public Security (MPS) have planned a nationwide crackdown on bank card crimes in 2010, the central bank said Wednesday.       The crackdown would last for 10 months, starting from January 2010, the central bank said on its website.       In the first eight months of 2009, public security departments placed on file 6,362 bank card fraud cases, doubling that of the same period last year, involving 440 million yuan (64.4 million U.S. dollars ...]]></description>
<full-text><![CDATA[The People's Bank of China (PBOC) and the Ministry of Public Security (MPS) have planned a nationwide crackdown on bank card crimes in 2010, the central bank said Wednesday.       The crackdown would last for 10 months, starting from January 2010, the central bank said on its website.       In the first eight months of 2009, public security departments placed on file 6,362 bank card fraud cases, doubling that of the same period last year, involving 440 million yuan (64.4 million U.S. dollars), an annual rise of 138 percent, the PBOC said.       Bank card crimes were commonly committed by making overdrafts from credit cards under fake names, and steeling and selling credit card information, according to an official with the MPS.       The official also said the Internet had become a "hotbed" for credit card crimes.       With bank card crimes on a sharp rise, the central bank and the ministry established a special organization to investigate into and tackle bank card crimes in June.       The organization would step up efforts to start a mechanism on enhancing bank card risk management, set up an information-sharing forum of bank card cases, and raise card users' awareness on protecting their card information, an official with the PBOC said.       Two billion bank cards had been issued in China by the end of this June, according to the central bank.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China's Jilin aims to build new pilot zone into innovation center: official]]></title>
<news_id>6817093</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817093.html ]]></link>
<pubDate>2009-11-18 20:49:43</pubDate>
<description><![CDATA[Northeast China's Jilin Province is endeavoring to build the newly-approved Changchun-Jilin-Tumen pilot zone into a modern industrial and agricultural base and an innovation center in northeast Asia, Governor of Jilin Han Changfu said Wednesday.       "The gross domestic product (GDP) in the pilot zone is forecast to quadruple from now by 2020 and become a modern logistics base, an international commercial service center and an important economic growth pole in northeast Asia," Han told report ...]]></description>
<full-text><![CDATA[Northeast China's Jilin Province is endeavoring to build the newly-approved Changchun-Jilin-Tumen pilot zone into a modern industrial and agricultural base and an innovation center in northeast Asia, Governor of Jilin Han Changfu said Wednesday.       "The gross domestic product (GDP) in the pilot zone is forecast to quadruple from now by 2020 and become a modern logistics base, an international commercial service center and an important economic growth pole in northeast Asia," Han told reporters.       The Chinese government has approved the pilot zone in the Tumen River Delta to boost the cross-border cooperation in the northeast Asian region, the provincial government announced Monday.       Han said Wednesday that the pilot zone could serve as a strategic platform to push forward the cross-border cooperation in the Tumen River Delta.       The pilot zone covers one third of Jilin's area and accounts for half of the provincial GDP.       The northeastern region, rich in natural resources, is the country's traditional base of heavy industry and agriculture.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China's leading oil producer endeavors to meet rising gas demand amid falling temperature]]></title>
<news_id>6817092</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817092.html ]]></link>
<pubDate>2009-11-18 20:49:10</pubDate>
<description><![CDATA[China National Petroleum Corporation (CNPC), the country's leading oil and gas producer, told Xinhua Wednesday it has taken active measures to raise gas supply and meet rising market demand triggered by heavy snows and falling temperatures.       CNPC figures revealed that daily natural gas consumption volume in north China surged 56 percent year on year between Nov. 1 and 16, while daily gas consumption in Beijing alone rose 57 percent year on year in this period.       The daily natural ga ...]]></description>
<full-text><![CDATA[China National Petroleum Corporation (CNPC), the country's leading oil and gas producer, told Xinhua Wednesday it has taken active measures to raise gas supply and meet rising market demand triggered by heavy snows and falling temperatures.       CNPC figures revealed that daily natural gas consumption volume in north China surged 56 percent year on year between Nov. 1 and 16, while daily gas consumption in Beijing alone rose 57 percent year on year in this period.       The daily natural gas supply of CNPC nationwide has increased from 169 million cubic meters at the beginning of this month to the current 189 million cubic meters, said the Beijing-based firm.       Most of the company's gas transmission pipelines have reached their full capacity. The oil and gas producer would do its best to guarantee the demand for local residents' daily life use and the demand in Beijing and other cities, by reducing supplies to some industrial enterprises.       China embraced severe cold weather and heavy snows this winter, with almost all of north China expected to experience continuing low temperatures and gales, according to weather forecast of the China Meteorological Administration on Sunday.       Meanwhile, almost all of southern China will be covered by snow and rain, with Hubei and Anhui expecting storms, according to the forecast.  &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Australia approves Chinese investment in molybdenum mining company]]></title>
<news_id>6817091</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6817091.html ]]></link>
<pubDate>2009-11-18 20:46:51</pubDate>
<description><![CDATA[ Australian regulators have given the green light to a Chinese entity to take control of molybdenum mining hopeful Moly Mines Ltd for 200 million U.S. dollars.       The Perth-based explorer said Australia's Foreign Investment Review Board (FIRB) had no objections to Sichuan Hanlong Group's proposed investment in Moly Mines through its Australian arm Hanlong Mining Investment Pty Ltd.       Australian Associated Press reports Wednesday that under the deal, Hanlong will get 207.1 million Moly ...]]></description>
<full-text><![CDATA[ Australian regulators have given the green light to a Chinese entity to take control of molybdenum mining hopeful Moly Mines Ltd for 200 million U.S. dollars.       The Perth-based explorer said Australia's Foreign Investment Review Board (FIRB) had no objections to Sichuan Hanlong Group's proposed investment in Moly Mines through its Australian arm Hanlong Mining Investment Pty Ltd.       Australian Associated Press reports Wednesday that under the deal, Hanlong will get 207.1 million Moly Mines shares for 140 million U.S. dollars at a price of 74.7 cents per share.       Hanlong will also provide Moly Mines with an interest bearing 60 million U.S. dollars 10-year loan, which along with the funds from the share subscription, will be used to repay an interim debt facility.       The transaction is now conditional on approvals by regulatory agencies in China and Moly Mines shareholders at a meeting on December 16.   &$<i>&$Source: Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Malaysia vehicle sales down 5.07% ]]></title>
<news_id>6817041</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817041.html ]]></link>
<pubDate>2009-11-18 17:45:13</pubDate>
<description><![CDATA[Malaysia's total vehicle sales in the first 10 months contracted by 5.07 percent, the Malaysian Automotive Association (MAA) said here on Wednesday.       MAA said in a statement that the sales volume for the period this year was 443,711 units as compared to 467,425 units in the corresponding period last year.       MAA also noted that vehicles production in the same period registered a drop of 10.07 percent from 449,988 units in 2008 to 404,681 units this year.       However, MAA said sal ...]]></description>
<full-text><![CDATA[Malaysia's total vehicle sales in the first 10 months contracted by 5.07 percent, the Malaysian Automotive Association (MAA) said here on Wednesday.       MAA said in a statement that the sales volume for the period this year was 443,711 units as compared to 467,425 units in the corresponding period last year.       MAA also noted that vehicles production in the same period registered a drop of 10.07 percent from 449,988 units in 2008 to 404,681 units this year.       However, MAA said sales volume for November is expected to recover given the continuous favorable market and consumer sentiment, as well as year-end sales campaigns in place.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Malaysia vehicle sales down 5.07% ]]></title>
<news_id>6817041</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817041.html ]]></link>
<pubDate>2009-11-18 17:45:13</pubDate>
<description><![CDATA[Malaysia's total vehicle sales in the first 10 months contracted by 5.07 percent, the Malaysian Automotive Association (MAA) said here on Wednesday.       MAA said in a statement that the sales volume for the period this year was 443,711 units as compared to 467,425 units in the corresponding period last year.       MAA also noted that vehicles production in the same period registered a drop of 10.07 percent from 449,988 units in 2008 to 404,681 units this year.       However, MAA said sal ...]]></description>
<full-text><![CDATA[Malaysia's total vehicle sales in the first 10 months contracted by 5.07 percent, the Malaysian Automotive Association (MAA) said here on Wednesday.       MAA said in a statement that the sales volume for the period this year was 443,711 units as compared to 467,425 units in the corresponding period last year.       MAA also noted that vehicles production in the same period registered a drop of 10.07 percent from 449,988 units in 2008 to 404,681 units this year.       However, MAA said sales volume for November is expected to recover given the continuous favorable market and consumer sentiment, as well as year-end sales campaigns in place.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea, Columbia to launch FTA negotiations ]]></title>
<news_id>6817040</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817040.html ]]></link>
<pubDate>2009-11-18 17:37:03</pubDate>
<description><![CDATA[South Korea and Columbia agreed to launch formal negotiations to seal a free trade agreement (FTA) as a result of the bilateral summit where their leaders agreed on the need for the deal, Seoul's trade ministry said Wednesday.       According to the ministry, the first round of FTA negotiations will be held in Seoul, from Dec. 7 to Dec. 9.       The two sides will exchange opinions on the range and structure of negotiations, to decide on the terms of reference (TOR), the ministry said.     ...]]></description>
<full-text><![CDATA[South Korea and Columbia agreed to launch formal negotiations to seal a free trade agreement (FTA) as a result of the bilateral summit where their leaders agreed on the need for the deal, Seoul's trade ministry said Wednesday.       According to the ministry, the first round of FTA negotiations will be held in Seoul, from Dec. 7 to Dec. 9.       The two sides will exchange opinions on the range and structure of negotiations, to decide on the terms of reference (TOR), the ministry said.       The leaders of the two nations met on the sidelines of an APEC leaders meeting in November, 2008, where they shared views on the need for settling a free trade pact.       South Korea and Columbia have already finished a joint private analysis on the effect of the FTA, according to the ministry.       Bilateral trade reached 1.23 billion U.S. dollars in 2008, with South Korea's exports to the South American country reaching 1.09 billion U.S. dollars, the ministry said.       If settled, the bilateral pact will expand the market for South Korean exporters, such as those in auto, electronics, and chemical industries, and strengthen bilateral ties in energy resources and infrastructure construction, the ministry added.       South Korea has settled free trade pacts with Singapore, the EFTA and the 10-nation Association of Southeast Asian Nations, and initialed a similar deal with the European Union.       A free trade pact between Korea and the United States was signed in 2007, although awaiting ratification in the legislatures of both countries.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea, Columbia to launch FTA negotiations ]]></title>
<news_id>6817040</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817040.html ]]></link>
<pubDate>2009-11-18 17:37:03</pubDate>
<description><![CDATA[South Korea and Columbia agreed to launch formal negotiations to seal a free trade agreement (FTA) as a result of the bilateral summit where their leaders agreed on the need for the deal, Seoul's trade ministry said Wednesday.       According to the ministry, the first round of FTA negotiations will be held in Seoul, from Dec. 7 to Dec. 9.       The two sides will exchange opinions on the range and structure of negotiations, to decide on the terms of reference (TOR), the ministry said.     ...]]></description>
<full-text><![CDATA[South Korea and Columbia agreed to launch formal negotiations to seal a free trade agreement (FTA) as a result of the bilateral summit where their leaders agreed on the need for the deal, Seoul's trade ministry said Wednesday.       According to the ministry, the first round of FTA negotiations will be held in Seoul, from Dec. 7 to Dec. 9.       The two sides will exchange opinions on the range and structure of negotiations, to decide on the terms of reference (TOR), the ministry said.       The leaders of the two nations met on the sidelines of an APEC leaders meeting in November, 2008, where they shared views on the need for settling a free trade pact.       South Korea and Columbia have already finished a joint private analysis on the effect of the FTA, according to the ministry.       Bilateral trade reached 1.23 billion U.S. dollars in 2008, with South Korea's exports to the South American country reaching 1.09 billion U.S. dollars, the ministry said.       If settled, the bilateral pact will expand the market for South Korean exporters, such as those in auto, electronics, and chemical industries, and strengthen bilateral ties in energy resources and infrastructure construction, the ministry added.       South Korea has settled free trade pacts with Singapore, the EFTA and the 10-nation Association of Southeast Asian Nations, and initialed a similar deal with the European Union.       A free trade pact between Korea and the United States was signed in 2007, although awaiting ratification in the legislatures of both countries.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea's listed firms see surge in Q3 earnings ]]></title>
<news_id>6817039</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817039.html ]]></link>
<pubDate>2009-11-18 17:32:30</pubDate>
<description><![CDATA[South Korea's listed firms saw a 25.4 percent on-quarter increase in their earnings in the third quarter on a faster-than-expected economic recovery, the bourse operator said Wednesday.       According to the Korea Exchange (KRX), the net income of 570 firms listed on the Seoul bourse totaled 19.3 trillion won, or 16.7 billion U.S. dollars, during the third quarter of 2009, up from 15.4 trillion won, or 13.3 billion U.S. dollars.       Local firms' total sales also marked a jump of 4 percent ...]]></description>
<full-text><![CDATA[South Korea's listed firms saw a 25.4 percent on-quarter increase in their earnings in the third quarter on a faster-than-expected economic recovery, the bourse operator said Wednesday.       According to the Korea Exchange (KRX), the net income of 570 firms listed on the Seoul bourse totaled 19.3 trillion won, or 16.7 billion U.S. dollars, during the third quarter of 2009, up from 15.4 trillion won, or 13.3 billion U.S. dollars.       Local firms' total sales also marked a jump of 4 percent to 226.9 trillion won, or 196.4 billion U.S. dollars, while operating profit jumped 37.7 percent to 19.3 trillion won, or 16.7 billion U.S. dollars, according to the KRX.       "Listed companies saw their earnings continue to improve in the third quarter after they were hit by the economic slowdown in the first quarter," the exchange said in a statement.       The spike in earnings came as the South Korean economy made a better-than-expected growth rate of 2.9 percent in the third quarter.       The growth rate in the July-September period marked the fastest pace in more than seven years and continued the rise for the third consecutive quarter.       In the meantime, the nation's key index, KOSPI, has advanced 41 percent so far this year.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea's listed firms see surge in Q3 earnings ]]></title>
<news_id>6817039</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817039.html ]]></link>
<pubDate>2009-11-18 17:32:30</pubDate>
<description><![CDATA[South Korea's listed firms saw a 25.4 percent on-quarter increase in their earnings in the third quarter on a faster-than-expected economic recovery, the bourse operator said Wednesday.       According to the Korea Exchange (KRX), the net income of 570 firms listed on the Seoul bourse totaled 19.3 trillion won, or 16.7 billion U.S. dollars, during the third quarter of 2009, up from 15.4 trillion won, or 13.3 billion U.S. dollars.       Local firms' total sales also marked a jump of 4 percent ...]]></description>
<full-text><![CDATA[South Korea's listed firms saw a 25.4 percent on-quarter increase in their earnings in the third quarter on a faster-than-expected economic recovery, the bourse operator said Wednesday.       According to the Korea Exchange (KRX), the net income of 570 firms listed on the Seoul bourse totaled 19.3 trillion won, or 16.7 billion U.S. dollars, during the third quarter of 2009, up from 15.4 trillion won, or 13.3 billion U.S. dollars.       Local firms' total sales also marked a jump of 4 percent to 226.9 trillion won, or 196.4 billion U.S. dollars, while operating profit jumped 37.7 percent to 19.3 trillion won, or 16.7 billion U.S. dollars, according to the KRX.       "Listed companies saw their earnings continue to improve in the third quarter after they were hit by the economic slowdown in the first quarter," the exchange said in a statement.       The spike in earnings came as the South Korean economy made a better-than-expected growth rate of 2.9 percent in the third quarter.       The growth rate in the July-September period marked the fastest pace in more than seven years and continued the rise for the third consecutive quarter.       In the meantime, the nation's key index, KOSPI, has advanced 41 percent so far this year.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Malaysia to decide on free trade formats]]></title>
<news_id>6817038</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817038.html ]]></link>
<pubDate>2009-11-18 17:31:00</pubDate>
<description><![CDATA[The Malaysian government would decide whether to pursue its Free Trade Agreement (FTA) talks with the United States or engage in the Trans-Pacific Partnership (TPP) negotiations, a Malaysian official said in Kuala Lumpur on Wednesday.       Malaysian International Trade and Industry Minister Mustapa Mohamed said at the media briefing on the benefits of ASEAN Free Trade Agreements with other countries that he would seek mandate from the Malaysian cabinet with regards to the U.S.-Malaysia FTA ne ...]]></description>
<full-text><![CDATA[The Malaysian government would decide whether to pursue its Free Trade Agreement (FTA) talks with the United States or engage in the Trans-Pacific Partnership (TPP) negotiations, a Malaysian official said in Kuala Lumpur on Wednesday.       Malaysian International Trade and Industry Minister Mustapa Mohamed said at the media briefing on the benefits of ASEAN Free Trade Agreements with other countries that he would seek mandate from the Malaysian cabinet with regards to the U.S.-Malaysia FTA negotiations.       Mustapa said that it was no longer the priority of the U.S. to negotiate with Malaysia on the bilateral FTA as the U.S. had shown its commitment in engaging the TPP.       U.S. Trade Representative Ron Kirk earlier announced that U.S. President Barack Obama had promised Washington's commitment to engaging in the four-member TPP, a trading framework believed to have the potential to develop into a sweeping cross-Pacific free trade pact.       Signed by New Zealand, Chile, Singapore and Brunei in 2005, the Partnership is aimed to promote regional trade and economic integration.       Mustapa said four other countries had also shown interests in the TPP framework and the Malaysian cabinet had to decide if Malaysia should embrace the framework, abandoning the U.S.-Malaysia FTA negotiations.       The four countries include the U.S., Australia, Vietnam and Peru.       Mustapa reiterated Malaysia's stand that the country was committed to opening up its market as it was one of the major trading countries in the world and more liberalizations could be expected in future as it was not right to knock on others' doors while keeping their doors closed.       When asked if the establishment of the ASEAN Economic Community could be brought forward, Mustapa said the development levels among ASEAN member countries were different and many discussions were still underway.       Therefore, the building of the ASEAN Economic Community was expected to be completed by 2015, as agreed upon by all member countries, added Mustapa.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Malaysia to decide on free trade formats]]></title>
<news_id>6817038</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817038.html ]]></link>
<pubDate>2009-11-18 17:31:00</pubDate>
<description><![CDATA[The Malaysian government would decide whether to pursue its Free Trade Agreement (FTA) talks with the United States or engage in the Trans-Pacific Partnership (TPP) negotiations, a Malaysian official said in Kuala Lumpur on Wednesday.       Malaysian International Trade and Industry Minister Mustapa Mohamed said at the media briefing on the benefits of ASEAN Free Trade Agreements with other countries that he would seek mandate from the Malaysian cabinet with regards to the U.S.-Malaysia FTA ne ...]]></description>
<full-text><![CDATA[The Malaysian government would decide whether to pursue its Free Trade Agreement (FTA) talks with the United States or engage in the Trans-Pacific Partnership (TPP) negotiations, a Malaysian official said in Kuala Lumpur on Wednesday.       Malaysian International Trade and Industry Minister Mustapa Mohamed said at the media briefing on the benefits of ASEAN Free Trade Agreements with other countries that he would seek mandate from the Malaysian cabinet with regards to the U.S.-Malaysia FTA negotiations.       Mustapa said that it was no longer the priority of the U.S. to negotiate with Malaysia on the bilateral FTA as the U.S. had shown its commitment in engaging the TPP.       U.S. Trade Representative Ron Kirk earlier announced that U.S. President Barack Obama had promised Washington's commitment to engaging in the four-member TPP, a trading framework believed to have the potential to develop into a sweeping cross-Pacific free trade pact.       Signed by New Zealand, Chile, Singapore and Brunei in 2005, the Partnership is aimed to promote regional trade and economic integration.       Mustapa said four other countries had also shown interests in the TPP framework and the Malaysian cabinet had to decide if Malaysia should embrace the framework, abandoning the U.S.-Malaysia FTA negotiations.       The four countries include the U.S., Australia, Vietnam and Peru.       Mustapa reiterated Malaysia's stand that the country was committed to opening up its market as it was one of the major trading countries in the world and more liberalizations could be expected in future as it was not right to knock on others' doors while keeping their doors closed.       When asked if the establishment of the ASEAN Economic Community could be brought forward, Mustapa said the development levels among ASEAN member countries were different and many discussions were still underway.       Therefore, the building of the ASEAN Economic Community was expected to be completed by 2015, as agreed upon by all member countries, added Mustapa.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korean telecom watchdog approves iPhone sales]]></title>
<news_id>6817037</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817037.html ]]></link>
<pubDate>2009-11-18 17:28:02</pubDate>
<description><![CDATA[South Korea's telecom regulator said Wednesday it had approved local sale of Apple Inc.'s iPhones, opening the domestic handset market to the U.S. company.       According to the Korea Communications Committee, its policymakers reached an agreement to grant Apple a license to run location-base services on the iPhone in the country, which is a prerequisite condition for cellphone makers or mobile carriers to be allowed in the local market.       It has been a slow process to bring the iPhone  ...]]></description>
<full-text><![CDATA[South Korea's telecom regulator said Wednesday it had approved local sale of Apple Inc.'s iPhones, opening the domestic handset market to the U.S. company.       According to the Korea Communications Committee, its policymakers reached an agreement to grant Apple a license to run location-base services on the iPhone in the country, which is a prerequisite condition for cellphone makers or mobile carriers to be allowed in the local market.       It has been a slow process to bring the iPhone to the local market as the South Korean government was reluctant to give permission on concerns over the potential privacy violation by the phone's location-base services (LBS).       The current South Korean law does not allow smart phones with LBS, such as "Google Map" and "Find my iPhone."       The telecom regulator, however, has concluded that infringements of privacy would only be minimal, as users cannot be differentiated from one another with the local service of the iPhone, according to officials at the commission.       The world-popular iPhone is expected to hit the South Korean market as soon as the commission gives Apple the license next week, local media reported.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korean telecom watchdog approves iPhone sales]]></title>
<news_id>6817037</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817037.html ]]></link>
<pubDate>2009-11-18 17:28:02</pubDate>
<description><![CDATA[South Korea's telecom regulator said Wednesday it had approved local sale of Apple Inc.'s iPhones, opening the domestic handset market to the U.S. company.       According to the Korea Communications Committee, its policymakers reached an agreement to grant Apple a license to run location-base services on the iPhone in the country, which is a prerequisite condition for cellphone makers or mobile carriers to be allowed in the local market.       It has been a slow process to bring the iPhone  ...]]></description>
<full-text><![CDATA[South Korea's telecom regulator said Wednesday it had approved local sale of Apple Inc.'s iPhones, opening the domestic handset market to the U.S. company.       According to the Korea Communications Committee, its policymakers reached an agreement to grant Apple a license to run location-base services on the iPhone in the country, which is a prerequisite condition for cellphone makers or mobile carriers to be allowed in the local market.       It has been a slow process to bring the iPhone to the local market as the South Korean government was reluctant to give permission on concerns over the potential privacy violation by the phone's location-base services (LBS).       The current South Korean law does not allow smart phones with LBS, such as "Google Map" and "Find my iPhone."       The telecom regulator, however, has concluded that infringements of privacy would only be minimal, as users cannot be differentiated from one another with the local service of the iPhone, according to officials at the commission.       The world-popular iPhone is expected to hit the South Korean market as soon as the commission gives Apple the license next week, local media reported.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Singapore central bank launches 2010 Year of Tiger Almanac coins ]]></title>
<news_id>6817036</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817036.html ]]></link>
<pubDate>2009-11-18 17:20:27</pubDate>
<description><![CDATA[The Monetary Authority of Singapore (MAS) on Wednesday launched the 2010 Year of the Tiger Almanac Coins.       The coins are part of the third Chinese Almanac Coins series designed by Xu Yunfei of Shanghai Mint. The image of the tiger is integrated with ancient Chinese seal characters of the "Heavenly Stems and Earthly Branches" symbolizing the animal's characteristics. The design also incorporates a peony which symbolizes blessing.       The 2010 10 Singapore dollars (6.699 U.S. dollars) S ...]]></description>
<full-text><![CDATA[The Monetary Authority of Singapore (MAS) on Wednesday launched the 2010 Year of the Tiger Almanac Coins.       The coins are part of the third Chinese Almanac Coins series designed by Xu Yunfei of Shanghai Mint. The image of the tiger is integrated with ancient Chinese seal characters of the "Heavenly Stems and Earthly Branches" symbolizing the animal's characteristics. The design also incorporates a peony which symbolizes blessing.       The 2010 10 Singapore dollars (6.699 U.S. dollars) Silver Piedfort Proof Coin for this Tiger series coins is minted with a special color application and features the tiger in full color.       Selected premium sets will include a unique 8-sided floral-shaped ingot featuring one of the masterpieces of well-known localartist, Tan Seng Yong, who is also known as the "Tiger Painter". The obverse of the coin bears the Singapore Arms with the year 2010.       The MAS also launched the 2010 Uncirculated Coin Set, valued at5 Singapore cents (3.5 U.S. cents) to 5 Singapore dollars (3.5 U.S. dollars). The coins come with a latent image of the year "2010" and the MAS logo and is presented in an attractive Hongbao pack.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Singapore central bank launches 2010 Year of Tiger Almanac coins ]]></title>
<news_id>6817036</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817036.html ]]></link>
<pubDate>2009-11-18 17:20:27</pubDate>
<description><![CDATA[The Monetary Authority of Singapore (MAS) on Wednesday launched the 2010 Year of the Tiger Almanac Coins.       The coins are part of the third Chinese Almanac Coins series designed by Xu Yunfei of Shanghai Mint. The image of the tiger is integrated with ancient Chinese seal characters of the "Heavenly Stems and Earthly Branches" symbolizing the animal's characteristics. The design also incorporates a peony which symbolizes blessing.       The 2010 10 Singapore dollars (6.699 U.S. dollars) S ...]]></description>
<full-text><![CDATA[The Monetary Authority of Singapore (MAS) on Wednesday launched the 2010 Year of the Tiger Almanac Coins.       The coins are part of the third Chinese Almanac Coins series designed by Xu Yunfei of Shanghai Mint. The image of the tiger is integrated with ancient Chinese seal characters of the "Heavenly Stems and Earthly Branches" symbolizing the animal's characteristics. The design also incorporates a peony which symbolizes blessing.       The 2010 10 Singapore dollars (6.699 U.S. dollars) Silver Piedfort Proof Coin for this Tiger series coins is minted with a special color application and features the tiger in full color.       Selected premium sets will include a unique 8-sided floral-shaped ingot featuring one of the masterpieces of well-known localartist, Tan Seng Yong, who is also known as the "Tiger Painter". The obverse of the coin bears the Singapore Arms with the year 2010.       The MAS also launched the 2010 Uncirculated Coin Set, valued at5 Singapore cents (3.5 U.S. cents) to 5 Singapore dollars (3.5 U.S. dollars). The coins come with a latent image of the year "2010" and the MAS logo and is presented in an attractive Hongbao pack.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Philippine fiscal deficit in October hits over $600 mln ]]></title>
<news_id>6817035</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817035.html ]]></link>
<pubDate>2009-11-18 17:04:10</pubDate>
<description><![CDATA[The fiscal deficit of the Philippine national government in October hit 28.5 billion pesos (612 million U.S. dollars), significantly higher than the 9 billion pesos (193 million U.S. dollars) deficit posted in October 2008 as dwindling revenues can not keep up with rising government expenditure, Philippine Finance Secretary Margarito Teves said Wednesday.       This put the total fiscal deficit in the first ten months of the year at 266.1 billion pesos (5.7 billion U.S. dollars), more than fou ...]]></description>
<full-text><![CDATA[The fiscal deficit of the Philippine national government in October hit 28.5 billion pesos (612 million U.S. dollars), significantly higher than the 9 billion pesos (193 million U.S. dollars) deficit posted in October 2008 as dwindling revenues can not keep up with rising government expenditure, Philippine Finance Secretary Margarito Teves said Wednesday.       This put the total fiscal deficit in the first ten months of the year at 266.1 billion pesos (5.7 billion U.S. dollars), more than four times larger than the year ago level.       Philippine revenues in the months of January to October of the year declined 4.8 percent on year to 925.4 billion pesos (19.9 billion U.S. dollars). The slowing economy and the sharp drop in exports reduced collection of taxes and import duties.       Expenditures rose 15.2 percent to 1.191 trillion pesos (25.5 billion U.S. dollars) in the same period as the government offered fiscal stimulus package to cushion the economy from the impact of the global recession.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Philippine fiscal deficit in October hits over $600 mln ]]></title>
<news_id>6817035</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6817035.html ]]></link>
<pubDate>2009-11-18 17:04:10</pubDate>
<description><![CDATA[The fiscal deficit of the Philippine national government in October hit 28.5 billion pesos (612 million U.S. dollars), significantly higher than the 9 billion pesos (193 million U.S. dollars) deficit posted in October 2008 as dwindling revenues can not keep up with rising government expenditure, Philippine Finance Secretary Margarito Teves said Wednesday.       This put the total fiscal deficit in the first ten months of the year at 266.1 billion pesos (5.7 billion U.S. dollars), more than fou ...]]></description>
<full-text><![CDATA[The fiscal deficit of the Philippine national government in October hit 28.5 billion pesos (612 million U.S. dollars), significantly higher than the 9 billion pesos (193 million U.S. dollars) deficit posted in October 2008 as dwindling revenues can not keep up with rising government expenditure, Philippine Finance Secretary Margarito Teves said Wednesday.       This put the total fiscal deficit in the first ten months of the year at 266.1 billion pesos (5.7 billion U.S. dollars), more than four times larger than the year ago level.       Philippine revenues in the months of January to October of the year declined 4.8 percent on year to 925.4 billion pesos (19.9 billion U.S. dollars). The slowing economy and the sharp drop in exports reduced collection of taxes and import duties.       Expenditures rose 15.2 percent to 1.191 trillion pesos (25.5 billion U.S. dollars) in the same period as the government offered fiscal stimulus package to cushion the economy from the impact of the global recession.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[ChiNext stock index up ]]></title>
<news_id>6817027</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6817027.html ]]></link>
<pubDate>2009-11-18 17:00:41</pubDate>
<description><![CDATA[ The ChiNext Index, China's start-up board for small and medium-sized enterprises to raise capital, closed higher on Wednesday as all the 28 stocks were up.       The board, based in Shenzhen and started trading on Oct. 30, 2009, is tailored to the needs of enterprises engaged in independent innovation and other enterprises with great growth potential.  &$<i>&$Source:Xinhua&$</i>&$                                                                                                                 ...]]></description>
<full-text><![CDATA[ The ChiNext Index, China's start-up board for small and medium-sized enterprises to raise capital, closed higher on Wednesday as all the 28 stocks were up.       The board, based in Shenzhen and started trading on Oct. 30, 2009, is tailored to the needs of enterprises engaged in independent innovation and other enterprises with great growth potential.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Beijing property the most expensive]]></title>
<news_id>6817006</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817006.html ]]></link>
<pubDate>2009-11-18 16:47:40</pubDate>
<description><![CDATA[It is more expensive to buy an apartment in Beijing than in 35 other cities in China, and several family members often contribute to the cost of property in the capital, new data shows.  The latest Chinese Academy of Social Sciences housing development report found Beijing's housing affordability rated at 0.34, the lowest score among the 35 cities, while the average score was 0.8.  The report showed families in the capital pay far more than 25 percent of their household income per month to s ...]]></description>
<full-text><![CDATA[It is more expensive to buy an apartment in Beijing than in 35 other cities in China, and several family members often contribute to the cost of property in the capital, new data shows.  The latest Chinese Academy of Social Sciences housing development report found Beijing's housing affordability rated at 0.34, the lowest score among the 35 cities, while the average score was 0.8.  The report showed families in the capital pay far more than 25 percent of their household income per month to service housing loans.  "Usually, the housing loan is recommended at being lower than 25 percent of the monthly household income," Zhang Qingyong, researcher and lead author of the research.  Li Kaifa, a researcher at the Chinese Academy of Management Sciences, said the housing price in Beijing was often too high for a couple to afford.  "Take a young couple's family for example. If they buy a 100 sq m apartment, their parents usually support them with the down payment and even help them pay the monthly loan payments," said Li.  "So it means that in Beijing, one apartment is not just bought by one generation of a family, but by two or three generations."  Li said it was estimated that 50 percent of Beijing's housing was bought by outsiders from other cities. He said business people in other cities like to buy housing in Beijing as an investment.  Wang Ling, a 29-year-old engineer from Dongcheng district, said he and his wife bought a 60 sq m apartment in March and pay almost 5,000 yuan per month in loan repayments.  "I earn 3,800 yuan and my wife earns 3,500 yuan per month. Though we have to cut a lot of spending on shopping and travel, I still feel lucky to buy it because the housing price has rocketed so much," said Wang.  The average housing price has reached 19,750 yuan per sq m inside the Fourth Ring Road, according to data from the Beijing municipal statistics bureau.  The report also said that at least 20 percent of properties in Beijing were bought as investment opportunities and this caused bubbles.  A housing bubble index is calculated by dividing the base price with the actual price. The average housing price in Beijing was 12,205 yuan per sq m from January to August while the base price was 9,640 yuan per sq m.  The housing bubbles in Beijing are much worse than Shanghai, Guangzhou and Shenzhen, the data showed.  &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Japanese real estate agency enters Beijing market]]></title>
<news_id>6817003</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6817003.html ]]></link>
<pubDate>2009-11-19 14:28:00</pubDate>
<description><![CDATA[Leopalace21 Business Consulting Co. Ltd, Japan's largest rental agency officially opened its Beijing branch on Nov. 18, 2009.  After Leopalace21 opened its Shanghai branch back in 2004, the new Beijing office becomes the second branch in China aiming to provide reservation and recommendation services. Leopalace21 has already hired 57 Chinese employees in Japan considering the increasing number of Chinese people there for business trips, higher education and sightseeing.  Leopalace21 currentl ...]]></description>
<full-text><![CDATA[Leopalace21 Business Consulting Co. Ltd, Japan's largest rental agency officially opened its Beijing branch on Nov. 18, 2009.  After Leopalace21 opened its Shanghai branch back in 2004, the new Beijing office becomes the second branch in China aiming to provide reservation and recommendation services. Leopalace21 has already hired 57 Chinese employees in Japan considering the increasing number of Chinese people there for business trips, higher education and sightseeing.  Leopalace21 currently has 530,000 housing units available in Japan, with annual turnover more than 600 billion yen.  &$<i>&$By People's Daily Online&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Microsoft ordered to stopping selling OS]]></title>
<news_id>6816979</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6816979.html ]]></link>
<pubDate>2009-11-18 16:27:36</pubDate>
<description><![CDATA[Microsoft must stop selling products that infringe on the copyrights of a Beijing software company, the Beijing No 1 Intermediate People's Court ruled on Monday.  In the ruling issued by the court, Microsoft was ordered to stop sales of products that used Chinese character fonts designed by Zhongyi Electronic Ltd.  The products targeted were Chinese versions of the Microsoft operating systems Windows 98, 2000, 2003 and Windows XP.  Microsoft didn't answer calls from METRO yesterday. Accord ...]]></description>
<full-text><![CDATA[Microsoft must stop selling products that infringe on the copyrights of a Beijing software company, the Beijing No 1 Intermediate People's Court ruled on Monday.  In the ruling issued by the court, Microsoft was ordered to stop sales of products that used Chinese character fonts designed by Zhongyi Electronic Ltd.  The products targeted were Chinese versions of the Microsoft operating systems Windows 98, 2000, 2003 and Windows XP.  Microsoft didn't answer calls from METRO yesterday. According to the Beijing Morning Post, Microsoft said they would appeal.  A statement on the Zhongyi Electronic Ltd website said that Microsoft signed contracts to use Chinese fonts and an input method for the Windows 95 system in 1994.  "Microsoft only paid to use our software for its Windows 95 system," Lan Fei, press officer of Zhongyi Electronic Ltd, told METRO yesterday.  The company claimed in its online statement that Microsoft used their software in other products, including Windows 98, 2000, 2003 as well as Windows XP without permission or payment.  Lan said this was not the first time the two companies had met in court.  Zhongyi Electronic Ltd sued Microsoft at the Beijing No 1 Intermediate People's Court on Apr 23, 2007 after finding that Microsoft applied their Chinese fonts and input method in their Windows 98 system without permission.  Microsoft requested the patent reexamination board of the State Intellectual Property Office (SIPO) to announce the patent of the Chinese input method invalid, but was rejected.  Microsoft then sued SIPO at the Beijing No1 Intermediate People's Court and was rejected once again.  The statement on Zhongyi's website said the Beijing No 1 Intermediate People's Court had been in session for this case on Jan 15, Feb 26 and May 29 last year, but received a final decision this Monday.  Sogou Information Service Company, which is affiliated with web portal Sohu.com, is the designer of a widely used Chinese input method.  It appealed to the Beijing No 2 Intermediate People's Court recently with claims that the Chinese instant messaging service company Tencent was holding a monopoly control.  The court has not yet reached a verdict.  &$<i>&$Source:China Daily&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[China to issue 10 sets of commemorative coins in 2010]]></title>
<news_id>6816964</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6816964.html ]]></link>
<pubDate>2009-11-18 16:22:17</pubDate>
<description><![CDATA[The People's Bank of China said Tuesday it would issue 10 sets of gold and silver commemorative coins in 2010.  The sets compromised 25 different gold and 22 silver coins, the central bank said on its website.  Five sets would feature pandas, the 17th-century classic Chinese fiction Shuihuzhuan (Heroes of the Marshes), ancient building complex in the Wudang Mountains, Yungang Grottoes in Shanxi province, and Beijing Opera facial makeup.  Four sets would be issued to mark the Shanghai World ...]]></description>
<full-text><![CDATA[The People's Bank of China said Tuesday it would issue 10 sets of gold and silver commemorative coins in 2010.  The sets compromised 25 different gold and 22 silver coins, the central bank said on its website.  Five sets would feature pandas, the 17th-century classic Chinese fiction Shuihuzhuan (Heroes of the Marshes), ancient building complex in the Wudang Mountains, Yungang Grottoes in Shanxi province, and Beijing Opera facial makeup.  Four sets would be issued to mark the Shanghai World Expo due to open in May 2010, the 16th Asian Games to be held in Guangzhou in November 2010, the 2010 Beijing International Stamp and Coin Exposition, and the year of the rabbit in 2011.  One set would commemorate the 30th anniversary of the founding of the Shenzhen Special Economic Zone, according to the Bank.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Tianjian to hold 4th 'Summer Davos' next September]]></title>
<news_id>6816961</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90861/6816961.html ]]></link>
<pubDate>2009-11-18 16:08:01</pubDate>
<description><![CDATA[The World Economic Forum (WEF) Tuesday announced that north China's port city of Tianjin will host the fourth Annual Meeting of the New Champions, or Summer Davos, on September 13 to 15 next year.  Christophe Weber, WEF's Beijing Chief Representative, said about 1,500 business executives, politicians, economists and scientists from 90 countries will attend the conference.  The participants will discuss how to achieve a sustainable global growth with science, technology, and new business mode ...]]></description>
<full-text><![CDATA[The World Economic Forum (WEF) Tuesday announced that north China's port city of Tianjin will host the fourth Annual Meeting of the New Champions, or Summer Davos, on September 13 to 15 next year.  Christophe Weber, WEF's Beijing Chief Representative, said about 1,500 business executives, politicians, economists and scientists from 90 countries will attend the conference.  The participants will discuss how to achieve a sustainable global growth with science, technology, and new business models, Weber told a press briefing.  The WEF will work out a detailed agenda after the Copenhagen Climate Summit in December, he said.  The WEF seeks to make the Annual Meeting of the New Champions as influential as its annual winter meeting in Davos, Switzerland, Weber said.  The meeting provides a platform for the rising generation of global leaders from business and society to contribute to broader policy discussions and engage with the world's top business executives, the WEF said.  The meeting is held every September in China since 2007. Dalian, a port city in northeast China, had hosted the 1st and 3rd "Summer Davos", while Tianjin had held the 2nd.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Wuhan suspends gas supply to companies amid heavy snow]]></title>
<news_id>6816958</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90860/6816958.html ]]></link>
<pubDate>2009-11-18 15:59:52</pubDate>
<description><![CDATA[Central China city Wuhan cut off natural gas supply to another 20 companies on Tuesday due to increasing energy demand amid heavy snow, adding the number of affected firms to 76.  The government of Wuhan, capital of Hubei province, suspended natural gas supply to 56 companies and 26 taxi gas stations on Monday in an effort to ensure stable supply to local residents.  Heavy snow has blanketed the city since Sunday, pushing down the temperature to the lowest minus 10 degrees Celsius and drivin ...]]></description>
<full-text><![CDATA[Central China city Wuhan cut off natural gas supply to another 20 companies on Tuesday due to increasing energy demand amid heavy snow, adding the number of affected firms to 76.  The government of Wuhan, capital of Hubei province, suspended natural gas supply to 56 companies and 26 taxi gas stations on Monday in an effort to ensure stable supply to local residents.  Heavy snow has blanketed the city since Sunday, pushing down the temperature to the lowest minus 10 degrees Celsius and driving up energy consumption.  The measure has helped mend the deficit of some 680,000 cubic meters of natural gas in supply, but still leaving a gap of 40,000 cubic meters in daily demand, said Xu Jin, director with the energy resources department of Wuhan Municipal Development and Reform Commission.  Wuhan consumes about 1.5 million cu m of natural gas a day recently, said Xing Yaolin, manager with the city's Natural Gas Co Ltd.  The government also decided to pay 100 yuan (about $14.6) in daily subsidy to some 8,300 cab drivers, who have to turn to gasoline due to the gas shortage.  It's still unknown when the suspension of gas supply will come to an end, said Xu.  The snowstorm has been the strongest in the city over the past 40 years and it is expected to abate after Thursday, according to the Wuhan Meteorological Station.  In Changsha, capital of the neighboring province of Hunan, local government is working on a plan to alleviate natural gas shortage in the freezing winter.  The city provides about 1.2 million cu m of gas everyday as of Tuesday, 400,000 cubic meters short to meet the daily demand, according to the Changsha Municipal Public Affairs Bureau.  &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea's foreign currency borrowing marks net fall in 2009]]></title>
<news_id>6816947</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6816947.html ]]></link>
<pubDate>2009-11-18 15:45:12</pubDate>
<description><![CDATA[South Korean lenders' foreign currency borrowing marked a net fall for the first time in more than four years as the central bank tightened rules on foreign debt and companies' capital demand decreased, the central bank said Wednesday.       According to the Bank of Korea (BOK), the total foreign currency borrowing by South Korean banks stood at 44.5 billion U.S. dollars as of end-October, falling 6 billion U.S. dollars from the year-end of 2008.       The figure marked a decline for the fir ...]]></description>
<full-text><![CDATA[South Korean lenders' foreign currency borrowing marked a net fall for the first time in more than four years as the central bank tightened rules on foreign debt and companies' capital demand decreased, the central bank said Wednesday.       According to the Bank of Korea (BOK), the total foreign currency borrowing by South Korean banks stood at 44.5 billion U.S. dollars as of end-October, falling 6 billion U.S. dollars from the year-end of 2008.       The figure marked a decline for the first time since 2002 when the BOK collected related data, in the BOK said.       The fall in the figure came as the central bank's tightened control of foreign currency borrowing in 20007 began to have effect on local lenders, according to the BOK.       Local companies' demand for foreign loans also decreased as the global economic slowdown cut down needs for working capital, it added.       As of the end of October, the outstanding foreign currency debts totaled 44.5 billion U.S. dollars, down from 50.5 billion U.S. dollars as of the end of 2008, the bank said.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[S Korea's foreign currency borrowing marks net fall in 2009]]></title>
<news_id>6816947</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6816947.html ]]></link>
<pubDate>2009-11-18 15:45:12</pubDate>
<description><![CDATA[South Korean lenders' foreign currency borrowing marked a net fall for the first time in more than four years as the central bank tightened rules on foreign debt and companies' capital demand decreased, the central bank said Wednesday.       According to the Bank of Korea (BOK), the total foreign currency borrowing by South Korean banks stood at 44.5 billion U.S. dollars as of end-October, falling 6 billion U.S. dollars from the year-end of 2008.       The figure marked a decline for the fir ...]]></description>
<full-text><![CDATA[South Korean lenders' foreign currency borrowing marked a net fall for the first time in more than four years as the central bank tightened rules on foreign debt and companies' capital demand decreased, the central bank said Wednesday.       According to the Bank of Korea (BOK), the total foreign currency borrowing by South Korean banks stood at 44.5 billion U.S. dollars as of end-October, falling 6 billion U.S. dollars from the year-end of 2008.       The figure marked a decline for the first time since 2002 when the BOK collected related data, in the BOK said.       The fall in the figure came as the central bank's tightened control of foreign currency borrowing in 20007 began to have effect on local lenders, according to the BOK.       Local companies' demand for foreign loans also decreased as the global economic slowdown cut down needs for working capital, it added.       As of the end of October, the outstanding foreign currency debts totaled 44.5 billion U.S. dollars, down from 50.5 billion U.S. dollars as of the end of 2008, the bank said.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Australian union: government's emissions trading scheme will not force big job losses ]]></title>
<news_id>6816941</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6816941.html ]]></link>
<pubDate>2009-11-18 15:43:38</pubDate>
<description><![CDATA[Claims that the Australian Government's emissions trading scheme will force big job losses in the mining sector aren't backed up by evidence, a major union said.       The Construction, Forestry, Mining and Energy Union (CFMEU), the largest and most powerful trade union representing construction workers in Australia, has released a report showing at least 10,000 coal-mining jobs will be created by 2020 under the Government's proposed ETS.       The report also showed six billion dollars (5.6 ...]]></description>
<full-text><![CDATA[Claims that the Australian Government's emissions trading scheme will force big job losses in the mining sector aren't backed up by evidence, a major union said.       The Construction, Forestry, Mining and Energy Union (CFMEU), the largest and most powerful trade union representing construction workers in Australia, has released a report showing at least 10,000 coal-mining jobs will be created by 2020 under the Government's proposed ETS.       The report also showed six billion dollars (5.6 billion U.S. dollars) had been spent on new coal-mining developments since late last year.       Mining company advertisements that claimed large job losses under an emissions trading scheme were "deceitful", the union's general president Tony Maher said.       "Our report is based on all the information in their reports, plus the massive investment pipeline that is publicly available where the major mining companies are investing in massive infrastructure," Maher said.       "Numerous mines have been commissioned, some are under construction, there'll be at least 13 new coal mines by 2015 alone."       All the coal companies had achieved was a great deal of confusion, Maher said.       "It is a disgraceful dash for cash," he said, referring to the coal industry's demands for 10 billion dollars (9.3 billion U.S. dollars) in government handouts.    &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Australian union: government's emissions trading scheme will not force big job losses ]]></title>
<news_id>6816941</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90863/6816941.html ]]></link>
<pubDate>2009-11-18 15:43:38</pubDate>
<description><![CDATA[Claims that the Australian Government's emissions trading scheme will force big job losses in the mining sector aren't backed up by evidence, a major union said.       The Construction, Forestry, Mining and Energy Union (CFMEU), the largest and most powerful trade union representing construction workers in Australia, has released a report showing at least 10,000 coal-mining jobs will be created by 2020 under the Government's proposed ETS.       The report also showed six billion dollars (5.6 ...]]></description>
<full-text><![CDATA[Claims that the Australian Government's emissions trading scheme will force big job losses in the mining sector aren't backed up by evidence, a major union said.       The Construction, Forestry, Mining and Energy Union (CFMEU), the largest and most powerful trade union representing construction workers in Australia, has released a report showing at least 10,000 coal-mining jobs will be created by 2020 under the Government's proposed ETS.       The report also showed six billion dollars (5.6 billion U.S. dollars) had been spent on new coal-mining developments since late last year.       Mining company advertisements that claimed large job losses under an emissions trading scheme were "deceitful", the union's general president Tony Maher said.       "Our report is based on all the information in their reports, plus the massive investment pipeline that is publicly available where the major mining companies are investing in massive infrastructure," Maher said.       "Numerous mines have been commissioned, some are under construction, there'll be at least 13 new coal mines by 2015 alone."       All the coal companies had achieved was a great deal of confusion, Maher said.       "It is a disgraceful dash for cash," he said, referring to the coal industry's demands for 10 billion dollars (9.3 billion U.S. dollars) in government handouts.    &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Chinese shares jump above 3,300 mark]]></title>
<news_id>6816937</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6816937.html ]]></link>
<pubDate>2009-11-18 15:36:09</pubDate>
<description><![CDATA[ Chinese equities continued the upward trend for the fourth consecutive trading day Wednesday and surpassed the psychological 3,300 mark.       The Shanghai Composite Index, which covers both A and B shares, climbed 0.62 percent to 3,303.23 points.       The Shenzhen Component Index edged down 0.21 percent to 13,642.35 points.       Gains outnumbered losses by 486 to 389 in Shanghai and 431 to 363 in Shenzhen.   &$<i>&$Source:Xinhua&$</i>&$                                                 ...]]></description>
<full-text><![CDATA[ Chinese equities continued the upward trend for the fourth consecutive trading day Wednesday and surpassed the psychological 3,300 mark.       The Shanghai Composite Index, which covers both A and B shares, climbed 0.62 percent to 3,303.23 points.       The Shenzhen Component Index edged down 0.21 percent to 13,642.35 points.       Gains outnumbered losses by 486 to 389 in Shanghai and 431 to 363 in Shenzhen.   &$<i>&$Source:Xinhua&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Analysts: Sino-U.S. monetary policy to be coordinated]]></title>
<news_id>6816872</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90859/6816872.html ]]></link>
<pubDate>2009-11-19 14:28:00</pubDate>
<description><![CDATA[China and the U.S. issued "Joint Statement" in Beijing November 17. Analysts pointed out that the two nations were striving to alter their own modes of economic development, which might have profound influence towards world structure; the two sides would further strengthen the communication and information exchange on macro-economic policies, which meant that the tightening of monetary policy would also take a coordinated approach between China and U.S. after Sino-U.S. economic recovery.  Deep ...]]></description>
<full-text><![CDATA[China and the U.S. issued "Joint Statement" in Beijing November 17. Analysts pointed out that the two nations were striving to alter their own modes of economic development, which might have profound influence towards world structure; the two sides would further strengthen the communication and information exchange on macro-economic policies, which meant that the tightening of monetary policy would also take a coordinated approach between China and U.S. after Sino-U.S. economic recovery.  Deep influence on world's economic structure  Amid consensus between China and U.S., the two sides clearly pointed out the need to make joint efforts to promote the global economy to achieve sustainable and balanced growth in the direction of globalization, Yang Mingjie, researcher of China Institutes of Contemporary International Relations (CICIR) stated.  Both parties also stressed joint efforts on policy adjustment for domestic and related prices, and promoted more sustainable and balanced trade and growth.  Jing Ulrich, chairman of China equities for J.P. Morgan, thought that developed economies represented by the United States had been over-borrowing and over-consuming; with China as the representative, the emerging market countries formed the export-oriented model of economic growth, their economic dependence on export demand was ever-increasing, while a large number of forex reserve accumulated by massive export was lent to the U.S. at very low interest rates to maintain its long-term deficit spending.  More cooperation on monetary policy  The statement also pointed out that both sides would adopt a forward-looking monetary policy, and duly focus on the influence of monetary policy towards international economy. Li Huiyong, macro-economy analyst, believed that the two sides mentioning monetary policy cooperation had a profound meaning and meant that China and the United States would take a coordinated approach in coming period of tightening monetary policy during the recovery phase.  &$<i>&$By People's Daily Online&$</i>&$ ]]></full-text>
</item>
<item>
<title><![CDATA[Geithner says international financial system must be reformed ]]></title>
<news_id>6816619</news_id>
<link><![CDATA[ http://english.people.com.cn/90001/90778/90858/90864/6816619.html ]]></link>
<pubDate>2009-11-18 11:01:28</pubDate>
<description><![CDATA[U.S. Treasury Secretary Timothy Geithner said on Tuesday that the current international financial system must be reformed to address 21st century challenges.    "After the experiences of the Great Depression and World War II, the United States led in the creation of the international financial system that anchored prosperity and stability for more than 60 years," Geithner said in testimony prepared for the Senate Foreign Relations Committee.       "Today, that system must be reformed to addr ...]]></description>
<full-text><![CDATA[U.S. Treasury Secretary Timothy Geithner said on Tuesday that the current international financial system must be reformed to address 21st century challenges.    "After the experiences of the Great Depression and World War II, the United States led in the creation of the international financial system that anchored prosperity and stability for more than 60 years," Geithner said in testimony prepared for the Senate Foreign Relations Commi