Emirates adds capacity
By Contrarian
Published: August 2, 2010
An Emirates Airbus A380 aircraft taxis on the tarmac at Beijing Capital International Airport yesterday after a flight from Dubai, the first time the double-decker superjumbo has been used to fly a scheduled service to China.
PBOC pursues flexible stance
By Contrarian
Published: August 2, 2010
CHINA will stick to a relatively loose monetary stance in the second half of this year, with an emphasis on implementing policy flexibly, the People’s Bank of China said yesterday. The central bank said on its website that it would combine its various policy tools, including open market operations and required reserves, in an appropriate way to further improve the management of banking liquidity. The notice was in line with the bank’s previously stated stance
Easing in China’s manufacturing growth
By Contrarian
Published: August 2, 2010
CHINA’S manufacturing activity continued to grow at a slower pace last month as the government took measures to curb the risk of overheating and adjust the economic structure.
UAE plans to block BlackBerry functions
By Contrarian
Published: August 2, 2010
THE United Arab Emirates yesterday said it will block key features on BlackBerry smartphones, citing national security concerns because the devices operate beyond the government’s ability to monitor their use. The decision could block e-mail and Internet access for hundreds of thousands of users in the Mideast commercial hub starting in October. BlackBerry data is encrypted and routed overseas, and the measure could be motivated in part by government fears that the messaging system could be exploited by terrorists or other criminals who cannot be monitored by the local authorities
Extra land set aside for homes
By Contrarian
Published: August 2, 2010
CHINA provided 56,000 hectares of land for residential use in the first six months of 2010, up 135 percent over the same period last year, according to the Ministry of Land and Resources. A significant increase in the availability of land for housing was reported in areas such as Guizhou Province, Beijing, Jiangxi Province, Heilongjiang Province and the Ningxia Hui Autonomous Region, the ministry said on its website over the weekend
Gains in earnings bolster Wall St
By Contrarian
Published: August 2, 2010
UNITED States stocks closed little changed last Friday, but Wall Street wrapped up its best month in a year after the earnings season ended with a group of strong results that offset the impact of poor economic data. While the major indexes each posted 7 percent gains for the month, it came during low volume and followed a combined decline of nearly 14 percent for May and June. The conflict between strong earnings and lackluster economic news has held stocks in a tight range throughout July.
Shanghai shares rise on hope of loose policy
By Contrarian
Published: August 2, 2010
SHANGHAI’S stock market gained on anticipation that the central government will adopt looser policies to hedge against slower economic growth. The benchmark Shanghai Composite Index went up 1.16 percent, or 30.53 points, to close at 2,668 points. Turnover stood at 52.3 billion yuan (US$7.7 billion), almost the same as last Friday morning
China’s Geely completes Volvo acquisition
By Contrarian
Published: August 2, 2010
CHINESE car maker Geely Holdings Group Co. Ltd. said today it has completed its US$1.8 billion buyout of Ford Motor Co.’s Volvo unit, in a landmark foreign acquisition by a Chinese company
Mainland industry shows a slowdown
By Contrarian
Published: August 2, 2010
CHINESE manufacturing sector fell into the territory of contraction last month for the first time since May 2009, a HSBC survey showed today. It compared with the official Purchasing Managers’ Index produced by the China Federation of Logistics and Purchasing, which still stood at 51.2 in July.
Wait-and-see mood drags home sales
By Contrarian
Published: August 2, 2010
NEW home sales remained sluggish in Shanghai for the third straight month as a result of government rein-in policies.
