A Chinese company has offered sprint star Usain Bolt a staggering deal that could see the Jamaican reap more than $115 million in the next five years.
Ajani Williams, chief executive officer with Anza Marketing Group (AMG), yesterday confirmed that the organization, which has the sole rights to market Bolt in China, received the offer after [...]
Archive for the ‘Business news’ Category
Australia has once again turned down an investment plan by a Chinese company in a proposed mine near an outback missile testing range, citing security concerns.
Australia\’s Defense Department knocked back the proposed bid by Wugang Australia Resources, a wholly owned subsidiary of Wuhan Iron and Steel Corp (Wisco), to buy half of the Hawks Nest [...]
China\’s foreign exchange reserves rose from $1,577 billion in 1978 to $1,950 billion in 2008 to rank first in the world, said Yu Wenzhe, Chinese Ambassador in Ghana, on Tuesday.
To the same token, China\’s per-capital annual income of $62.5 in 1978 reached $9,863 in the urban areas, showing an increase of over 100 percent.
Ambassador Yu [...]
The European Union decided Thursday to impose five-year duties on aluminum foil imported from China, Brazil and Armenia over alleged dumping charges.
The EU said in its decision that the duties were up to 30 percent as a punishment to Chinese exporters for selling the product at below cost, or dumping. Reports say that Shanghai-based Alcoa [...]
China\’s industrial output rose 8.1 percent in the first eight months from the same period last year, said the Ministry of Industry and Information Technology (MIIT) Friday.
The growth rate was 7.6 percentage points lower than that in the same period last year, but 1.1 percentage points higher than that in the first half year.
In August [...]
By Yi Xianrong (blog.china.com.cn)
The Shanghai Composite Index, China\’s stock market benchmark, began a steady climb from 1,820 points at the start of the year to reach a high of 3,478 in August, a growth of 91 percent. Major volatility closely followed, though, pulling the index down to 2,639 before sending it up again recently, to [...]
Apple’s iPhone is scheduled to debut in China’s mainland, the world’s biggest mobile phone market, in three weeks in a partnership with China Unicom, the telecommunications carrier said yesterday.
The iPhone’s official entry has been keenly anticipated and expected to increase competition in the smart phone market with rivals such as Nokia and Dopod, said Wu [...]
A nationwide questionnaire of bankers released Thursday by China’s central bank showed that the bankers’ confidence index for macro economy and bank performance in the third quarter had continued rising, and expectations for bank performance in the fourth quarter had been improved.
Bankers’ confidence index for macro economy stood at 55.4 percent in the third quarter, [...]
Nobel laureate in economics Robert Mundell said Thursday that China should not make the Renminbi convertible too rapidly.
“I tend to be … conservative. Don’t do it too rapidly,” the “Father of Euro” told the audience of a lecture on the campus of the Chinese University of Hong Kong, saying that the gains from making the [...]
China’s banking regulator told Xinhua Thursday night it does not place limits on the pay of the country’s commercial banks’ top executives.
The China Banking Regulatory Commission (CBRC) said it noted that some of the country’s media reported the CBRC was drafting a document to regulate the pay of bankers from commercial banks.
Every country was trying [...]
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