Results tagged “newsnational”

Question: “Who are three people who’ve never been in my kitchen?” Or lately: "Name three people hating on the once mighty US dollar." On Tuesday, Cheng Siwei, the vice chairman of China’s National People’s Congress suggested that China’s foreign exchange regulators ought to consider shifting the country’s massive USD $1.4 trillion reserve into “stronger” currencies. The greenback has been on a downward spiral since 2003. Little did Cheng know that his remarks would trigger a...

For the first time in 17 months, China will raise wholesale price cap of gasoline, diesel and jet fuel, “to guarantee domestic supply of refined oil and promote energy conservation/为保证国内成品油供应，促进能源节约,” or so says the National Development and Reform Council. Per metric ton of all three refined products will go up 500 yuan, or roughly 10 percent, starting November 1.

On Friday, the People’s Bank of China raised mortgage interest rate and hiked minimum down payment needed for purchasing investment and commercial properties. In a joint announcement with China Banking Regulatory Commission, the PBoC said

Singapore’s Temasek Holdings and Singapore Airline’s joint bid for a 24 percent stake of China Eastern Airline finally received its blessing from Beijing last week. The deal valued CEA at HK$3.80 per share. China Eastern’s Hong Kong listing after a three month halt resumed trading earlier today and promptly doubled from HK$ 3.73 to HK$ 7.50 before paring back to settle around HK$ 6.90 in the afternoon. Today’s surge in gave the two new investors an instant HK$5.84 billion profit on paper, about USD $750 million. Not bad for a day’s work! Shares of all four major Chinese airlines (the other three are Air China, China Southern and Hainan Air) traded on the domestic exchange rallied 10 percent on the news, the maximum daily limit allowed under local rules. In related news, the Shanghai Composite Index closed at another a record high, up 102 points, or 2 percent, at 5321.

Our favourite news agency reports that for the first time, women are to be recognised as descendants of Confucius in a new family tree of the ancient Chinese philosopher. This fifth update of the family tree, according to Reuters, will add more than 1 million "registered" descendants of Confucius.

are stepping into a cockpit near you. Eight foreigners from the US, Norway, Venezuela and the Philippines now fly the friendly skies for our city's favorite airline, a sign that a nation-wide shortage of Chinese pilots has finally come home to roost.

This photo gallery of Chinese coal miners really puts a face on the plight of these laborers. Unsafe work conditions kill them by the hundreds every year. Thirty black and white photos by a Chinese photographer, online monicker k6688, commemorates lives lost in a 2004 coal mine accident in Henan. k6688's photo blog is here (in Chinese).