| IBM in 'bid for China bank' | | Posted Monday, November 13, 2006 7:23:11 AM by Blog57 Team | | HONG KONG, china (Reuters) -- International Business Machines will join a consortium led by Citigroup that is bidding $3 billion for control of China's Guangdong Development Bank, a person familiar with the matter said on Monday. IBM, the world's largest technology services company, would take a 5 percent stake in the troubled southern China lender if the Citigroup bid is successful, the source said. Citigroup and France's Societe Generale have been locked in a takeover battle that has been drawn out for more than a year, with sources saying that both sides are bidding about $3 billion for 85 percent of GDB. "It is IBM's practice not to comment on rumours or speculation," an IBM spokesman said in an email, while a Citigroup spokesman in Hong Kong declined to comment.... | |
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| | | China launches satellites into orbit | | Posted Wednesday, October 25, 2006 7:12:38 AM by Blog57 Team | | BEIJING, China (Reuters) -- China launched two satellites into space on Tuesday aboard a Long March-4B carrier rocket, the official Xinhua news agency reported, the latest step in its ambitious space program. Both satellites successfully entered their orbits after an early morning lift-off from the Taiyuan Satellite Launch Centre in the northern province of Shanxi, Xinhua said. The two Shijian-6 satellites are designed to explore space environments, radiation and to carry out related experiments. China launched its first satellite in 1970 aboard a Long March rocket, which orbited the Earth while blaring the Cultural Revolution anthem, "The East is Red". Since then, analysts estimate it has launched 50 satellites, which Sun Laiyan, the head of China's National Space Administration, has said help with weather forecasting and developing seeds that breed superior crops.... | |
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| | | China Rising | | Posted Sunday, October 22, 2006 1:19:28 PM by Blog57 Team | | China has the world's largest population and is bound to become the world's largest economy before long. Growing at an average of 10 percent per year since 1990, it is quickly moving up the ladder of the world's biggest economies. Which national economy is currently closest in size to that of China? .... | |
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| | | China offers cash to control population | | Posted Monday, October 16, 2006 7:10:35 PM by Blog57 Team | | BEIJING, China (Reuters) -- Nearly three decades after China imposed its strict one-child policy, the government will offer financial incentives in an effort to restrain its population rise, paying farmers who choose not to have more children than allowed by law, state media reported. From next year, the government will pay parents in rural areas who have no more than one son -- or two daughters -- 600 yuan ($76) a year each starting at the age of 60, the official China Daily said. China introduced a one-child policy in 1979 but later relaxed it to allow farmers in particular to have more children, especially if they have a daughter first. China now has 1.3 billion people, making it the world's most populous nation. The government's one-child policy remains in effect in most urban areas, although some exceptions have been allowed.... | |
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| | | Simpson trip to mark partnership with China | | Posted Saturday, October 07, 2006 7:06:04 PM by Blog57 Team | | University at Buffalo President John B. Simpson left for China this week to mark the 25th anniversary of UB's partnership with universities there. UB was the first American university to establish educational exchanges with universities in China, after diplomatic ties were re-established between the United States and the People's Republic of China in 1979, UB officials said. UB, in 1981, established the UB Language Institute in Beijing on the campus of Beijing Normal College of Foreign Languages, the first American-run English language center in China. That same year, China began to send students and faculty to UB, primarily to study science and engineering, while UB students and faculty traveled to China to study the country's culture. Simpson and six others from UB will celebrate the anniversary Oct.... | |
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| | | Motor racing-Formula One Grand Prix of China 1st free practice session 1 | | Posted Friday, September 29, 2006 11:09:29 AM by Blog57 Team | | 1st Free Practice session 1 from the Formula One Grand Prix of China at Shanghai (Shanghai) on Friday 1. Alexander Wurz (Austria) Williams - Cosworth 1:35.574 2. Anthony Davidson (Britain) Honda 1:35.591 3. Jenson Button (Britain) Honda 1:37.291 4. Michael Schumacher (Germany) Ferrari 1:37.712 5. Neel Jani (Switzerland) Toro Rosso - Cosworth 1:37.734 6. Alexandre Premat (France) MF1 - Toyota 1:37.787 7. Sebastian Vettel (Germany) BMW Sauber 1:37.913 8. Robert Kubica (Poland) BMW Sauber 1:38.062 9. Michael Ammermueller (Germany) RedBull - Ferrari 1:38.460 10. Franck Montagny (France) Super Aguri - Honda 1:38.464 11. Vitantonio Liuzzi (Italy) Toro Rosso - Cosworth 1:39.000 12. Rubens Barrichello (Brazil) Honda 1:39.217 13. Scott Speed (U.S.) Toro Rosso - Cosworth 1:39.428 14. Christijan Albers (Netherlands) MF1 - Toyota 1:39.494 15.... | |
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| | | In China, Paulson Pushes U.S. Currency Goals | | Posted Wednesday, September 20, 2006 3:11:21 AM by Blog57 Team | | BEIJING, Sept. 19 -- U.S. Treasury Secretary Henry M. Paulson Jr. is fond of recounting stories from his dozens of visits to China as chief executive of Goldman Sachs, a legacy that has fueled expectations he can accomplish a feat that eluded his predecessors: persuading China's leaders to significantly raise the value of their currency, the renminbi. Paulson has applied his brash charm toward securing mega-dollar deals here. He has visited remote villages and the highest offices of the ruling Communist Party. He refers to China's central bank governor, Zhou Xiaochuan, by his given name. .... | |
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| | | China, EU urge swift implementation of UN resolution on Lebanon | | Posted Sunday, September 10, 2006 1:23:01 PM by Blog57 Team | | Leaders of China and the European Union (EU) attending the EU-China Summit on Saturday urged all parties in the Middle East to play a constructive role in helping to swiftly implement UN Resolution 1701. In a joint statement issued after the summit attended by Chinese Premier Wen Jiabao, Prime Minister Matti Vanhanen of Finland, whose country holds the six-month EU presidency, and European Commission President Jose Manuel Barroso, the two sides welcomed the adoption of United Nations Security Council Resolution 1701 which led to the cessation of hostilities between Israel and Hezbollah that started July 12 and left 1,200 people dead in Lebanon and 159 in Israel. The statement said the resolution "sets the required framework for a political settlement of the crisis supported by the reinforced UNIFIL forces in which the EU Member States are playing a leading role." The two sides also stressed their determination to bring humanitarian assistance to the people of Lebanon.... | |
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| | | Cambodian king, parents depart for medical checkup in China | | Posted Saturday, September 02, 2006 7:10:19 PM by Blog57 Team | | _ Cambodian King Norodom Sihamoni and his parents, former King Norodom Sihanouk and Queen Monineath, on Saturday departed for China where the king and his father will receive medical checkups. Sihamoni said in a statement that he expected to stay for a few weeks in China together with his parents before heading on to France for more medical checkups. The 53-year-old king also said he will make an official visit to the Czech Republic from Sept. 18 to 20, and another to Slovakia from Sept. 27 to 28. Sihanouk, who suffers from a variety of age-related illnesses, has been advised by his Chinese doctors to have a checkup in Beijing every three to six months. The 83-year-old former monarch returned to Cambodia in May this year after an extended stay in China for treatment.... | |
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| | | China Telecom Reports Slowest Profit Growth on Record (Update2) | | Posted Wednesday, August 30, 2006 1:50:58 PM by Blog57 Team | | Aug. 30 (Bloomberg) -- China Telecom Corp., the nation's biggest fixed-line phone operator, reported its slowest profit growth on record as competition from mobile operators intensified. First-half net income rose 2.6 percent to 11.6 billion yuan ($1.45 billion), or 0.14 yuan a share, from 11.3 billion yuan, or 0.14 yuan, a year earlier, the Beijing-based company said today. Sales rose 4.7 percent. China Telecom has turned to high-speed Internet services and interactive television ventures to bolster earnings after cell- phone companies cut rates. Chairman Wang Xiaochu, 48, has applied for one of three licenses the government has said it will issue for third-generation wireless services, which allow faster downloads of music and video. ``Increasing mobile substitution will affect the company's growth in fixed-line business going forward,'' said Mona Chung, who helps manage $800 million of stocks at Daiwa Asset Management Ltd.... | |
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