July 11, 2011
China’s imports slow down as domestic demand dips
The pace of growth of imports to China slowed down in June as the government's efforts to rein in growth hit domestic demand. Imports to China grew by 19.3% in June, compared with a year ago, a sharp decline from the 28.4% surge in May, latest…
July 11, 2011
Australia plans to impose carbon tax on worst polluters
The Australian government has unveiled plans to impose a tax on carbon emissions for the worst polluters. Prime Minister Julia Gillard said carbon dioxide emissions would be taxed at A$23 ($25; £15) per tonne from 2012. The country's biggest…
July 9, 2011
Euro debt market jitters worsen
The cost of borrowing for debt-laden Portugal, the Irish Republic and Italy hit new highs on Friday. Greek debts also sold off, reversing a recent rally on hopes of a new rescue. Financial markets were reacting to the European Central Bank's…
July 9, 2011
Greece to get next part of IMF financial rescue package
The International Monetary Fund has backed the latest 3bn-euro (£2.6bn) instalment of a rescue package for Greece. It is the latest tranche in the IMF's joint bail-out with the European Union aimed at helping the country pull back from an impending…
July 9, 2011
Pork prices drive Chinese inflation
Think prices are rising rapidly in the U.S.? Inflation is going even more hog wild in China. China's Consumer Price Index -- a broad measure of prices consumers pay for food, housing, clothing and other common expenses -- showed prices rose 6.4%…
July 9, 2011
Stocks drop as job report disappoints
U.S. stocks posted broad losses on Friday as Wall Street dealt with a dismal June jobs report that showed hiring crawled to a near standstill last month. "We now have a clear indication of a stall in the U.S. economic recovery," said Frank Davis,…
July 8, 2011
Buffett sees risks in US failing to hike debt ceiling
Billionaire investor Warren Buffett said yesterday Congress is playing a dangerous game by considering not raising the US debt ceiling. The CEO and chairman of the conglomerate Berkshire Hathaway Inc said on the cable TV network CNBC that there…
July 8, 2011
Facebook adds Skype video chat feature
Facebook is encouraging its members to talk face to face -- over the computer. The social networking giant introduced a video-calling feature on Wednesday in partnership with Skype, the popular Internet video-chat provider. The product comes a…
July 8, 2011
South Korean economy welcomes 2018 Winter Olympics
Pyeongchang’s triumph of the 2018 Winter Olympics is expected to cultivate more than just national pride, paving the way for the South Korean economy to rake in an estimated $27 billion, according to the Korean Institute for Industrial Economics…
July 6, 2011
Chinese Banks Fall After Temasek Sells Stake
Shares in Bank of China and China Construction Bank fell after Singapore's state-owned…