From the Financial Times (link) Beijing and Moscow on Tuesday inked several agreements as part of a state visit by Russian President Vladimir Putin, the most crucial focusing on long-term energy co-operation in oil and natural gas. But no accord was reached over the route of an oil pipeline from east Siberia seen as crucial […]
Read MoreFrom Bloomberg (link) Chen Jiulin, former head of China Aviation Oil (Singapore) Corp., was sentenced to four years and three months in prison for his role in a $550 million trading scandal that drove China’s biggest jet-fuel trader to the brink of bankruptcy. Chen, 44, was also fined $335,000 ($207,000). He pleaded guilty to six […]
Read MoreFrom the MarketWatch (link) Wal-Mart Stores Inc. is overstaffing its retail outlets in China to begin training workers now, as part of a larger plan to hire another 150,000 people in that country over the next five years, a spokesman said Monday. Already the largest retailer on earth, Wal-Mart is looking to greatly expand its […]
Read MoreFrom Xinhua via People’s Daily Online (link) China’s 11th five-year plan is another major step in China’s transition to a market economy, Joseph E. Stiglitz, a Nobel Prize laureate said here on Sunday. Addressing the China Development Forum 2006, Stiglitz said one of the distinctive aspects of China’s development plan is its comprehensiveness, which is […]
Read MoreFrom the Financial Times (link) China could provide its poorest citizens in rural areas with basic healthcare, free education and a minimum living standard for a relatively modest fiscal outlay, according to the head of the Asian Development Bank. Haruhiko Kuroda, the chairman of the Manila-based body, said Rmb100bn ($12.5bn, ‚Ǩ10.2bn, ¬£7bn) a year could […]
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