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China

Chinese premier seeks stronger ties with Britain

Wen Jiabao in his recent visit to UK has made promise to strengthen the commercial ties between Britain and China. In recent times the China has the fast-expanding economy which refers that its government has huge financial surpluses.

China has also lent money to Western governments by buying their bonds. Probably all the China’s investments are in US bonds, however Beijing has also begun lending to European nations.

Alibaba splits Taobao into three firms

Alibaba splits Taobao into three firmsOn Thursday CHINA'S largest e-commerce company Alibaba Group has made announcement that it has split its consumer online shopping platform Taobao into three firms. This was done to have a proper adaptation to an increasingly competitive landscape.

Singapore PM wants Chinese yuan to rise gradually

Singapore PM wants Chinese yuan to rise graduallyPrime Minister of Singapore, Lee Hsien Loong, said on Sunday that instead of a speedy revaluation, he would prefer to see a gradual rise in the price of the Chinese yuan. He feels that that would be more helpful.

Taiwan's foreign reserves stood at US$398.683 billion in May

Taiwan's foreign reserves stood at US$398.683 billion in MayThe Central Bank of the Republic of China announced yesterday that Taiwan's foreign exchange reserves stood at US$398.683 billion (S$490 bil) after a small shock.

China denies role in attack on Google's Gmail

China has been accused for cyber-spying into Gmail accounts of US top officials, military personnel and journalists but China rejected all such accusations.

A foreign ministry spokesman said it was "unacceptable" to blame China. On the other hand, Google mentioned that they have not directly named China in spying Gmail account; rather they mentioned that the hacking campaign originated in Jinan.

US authorities claim that individual’s passwords have been obtained through fraud instead of infringing security.

Chinese builder Cosco is concerned regarding contracts with Sevan

Chinese builder Cosco is concerned regarding contracts with SevanAccording to Singapore-listed Chinese shipbuilder COSCO Corp it entered into an agreement yesterday with the Norwegian Sevan Drilling for constructing a couple of drilling units valued approximately at $525 million each.

A letter of intent for both the rigs had been signed in the month of March.

Economies around the globe are growing more slowly

Economies around the globe are growing more slowlyThe global economy has been affecting the United States, Europe along with the China, the world’s largest populated country. It has warned about the rising signs of the damage to these countries.

Moreover it is expected that in coming future the major economies would raise more. But the fact is that the many economies around the world are struggling to expand as fast as they did last year.