China Railway Group sees surging overseas business
China Railway Group Limited, a leading construction and engineering contractor worldwide, reported a surge in overseas business in the first half (H1) of the year. The company has signed new contracts worth 79.83 billion yuan (about 11.79 billion U.S. dollars) in overseas markets in the January-June period, soaring 90.7 percent from a year ago, according…
Economic Watch: China’s industrial profits maintain expansion
Profits of China’s major industrial firms sustained growth momentum in the first half of the year as production continued to recover. Industrial firms each with annual main business revenue of at least 20 million yuan (about 2.95 million U.S. dollars) saw their combined profits exceed 4.27 trillion yuan in the period, the National Bureau of…
ASIC disqualifies former Viewble Media director for 4years
ASIC has disqualified former Viewble Media director David Reid, of Pelican Waters, Queensland, from managing corporations for four years due to his involvement in the failure of two companies. Between 2015 and 2019 Mr Reid was a director of: Viewble Media Pty Ltd (ACN 606 991 628); and Jasdav Trading Pty Ltd (ACN 616 227…
Inflation hasn’t been higher for 32 years. What now?
Inflation jumped from 5.1% to a new long-term high of 6.1% in the June quarter, a rate matched only by short-lived jump caused by the introduction of the goods and services tax, and not exceeded since 1990. With the exception of the introduction of the GST, it’s the furthest inflation has been from the Reserve…
Evening report Wednesday
Following the release of softer-than-expected inflation data, the Aussie market clawed back losses and finished slightly higher for a second day. The ASX 200 rose by 15.9 pts or 0.23 per cent to 6823.2. Five sectors and 81 stocks finished lower, with resource stocks weighing most. The Mining sector shed 1.2 per cent – its…
ASIC warns small businesses to be vigilant
According to the ACCC, payment redirection scams caused the highest losses to businesses in 2021 The ACCC’s Scamwatch received more than 3,500 reports from small businesses in 2021 Small businesses should be vigilant, especially around payment redirection scams, and they should report scams to the relevant authority ASIC urges small businesses to be wary of…
Gold output sees stable recovery in H1
BEIJING, July 27 (Xinhua) – China produced 174.687 tonnes of gold in the first half of this year, an increase of 21.934 tonnes or 14.36 percent compared with the same period last year, industry data showed on Wednesday. Gold consumption in China shrank by 12.84 percent year on year to 476.82 tonnes due to the…
China’s industrial profits up 1 pct in H1
BEIJING, – Profits of China’s major industrial firms rose 1 percent year on year in the first half of 2022, official data showed on Wednesday. Industrial firms each with annual main business revenue of at least 20 million yuan (about 2.95 million U.S. dollars) saw their combined profits exceed 4.27 trillion yuan in the period,…
China’s manufacturing sector makes solid progress
BEIJING, – China’s manufacturing sector has demonstrated strong resilience and growth potential, with the government rolling out a raft of policies to stabilize the industrial chain, ease burdens on enterprises, and promote industrial transformation. In the first half of the year, the value-added output of China’s manufacturing sector accounted for 28.8 percent of the country’s…
German discount retailer Aldi eyes expansion in China
BERLIN, July 26 (Xinhua) – German discount retailer Aldi South is considering a further business expansion in China with the planned opening of at least 100 new stores, the local business newspaper Handelsblatt has reported. “China is and remains one of the most fascinating markets in all areas,” the paper quoted Roman Rasinger, managing director…
