Results tagged “peoplesbankofchina”

• Shell to Delay Alternative Energy Projects in China [WSJ] "Royal Dutch Shell PLC is delaying or dropping some alternative energy projects in China as too costly given current low oil prices, executives said Tuesday... because of the economic downturn Shell decided to postpone a joint venture Shenhua Group, China's top coal producer to turn coal into liquid fuel. Shell had conducted a feasibility study with Shenhua, China's biggest coal producer, to build a coal-to-liquid plant in the country's western Ningxia Autonomous Region."
• Chinese workers protest again over unpaid wages [AP] "Hundreds of workers at a textile factory in southern China blocked roads Tuesday, in a second day of protests over unpaid wages, an employee said. The protests come as a collapse in demand for Chinese exports has closed factories and wiped out at least 20 million jobs. Communist leaders worry that more job losses and unpaid wages could result in mass protests."
• Rare Fungi Sent Back to China [Cornell Sun] "In the 1920s, Shu Chun Teng was China’s premier expert on fungi after studying mycology at Cornell. To preserve Teng’s specimens from destruction following the 1937 Japanese invasion of China, 2,278 of the specimen packets were smuggled by ox cart to Indochina and then by sea to the United States, eventually arriving at Cornell in 1940" It is now being returned to China. Hoorah!

According to the Wall Street Journal, a lawsuit against the Bank of China has been filed in Los Angeles Superior Court, claiming that Bank of China transferred millions of dollars for terrorist groups bent on attacking Israel, ignoring demands by Israeli counterterrorism officials to halt the practice. The lawsuit was brought on behalf of more than 100 victims of terrorism in Israel and alleges that the money was transferred for the militant groups Hamas and Palestinian Islamic Jihad in Iran and Syria, and processed through Bank of China's branches in the U.S. and China. "I don't know about the matter," Wang Zhaowen, spokesman for the bank, told Dow Jones Newswires. According to one of the plaintiffs' attorneys, Bank of China now has 20 days to respond to the lawsuit under U.S. legal procedures.