China’s share of global economy rises to over 18 pct: official
BEIJING, – China accounted for over 18 percent of the global economy in 2021, rising from 11.4 percent in 2012, an official said Thursday. China has both cemented and improved its status as the world’s second-largest economy over the past decade, said Han Wenxiu, a senior official with the Central Committee for Financial and Economic…
Australia’s future depends on science
The longer you live through a crisis, the less likely you are to fully appreciate that you’re in one. This is especially true if there is more than one crisis, and they overlap. In Australia, we’ve experienced several in the past few years: bushfires and floods turbo-charged by climate change, and an enduring pandemic. These…
China to encourage foreign investment
BEIJING – China will further expand the industry catalog of sectors encouraging foreign investment, authorities said. The new list will add 238 more items, while up to 114 existing ones will be modified with expansion, said a notice issued by China’s National Development and Reform Commission and the Ministry of Commerce (MOC). The increase is…
ASIC commences proceedings against Australian Mines
ASIC has commenced civil penalty proceedings in the Federal Court against Australian Mines Limited (ASX: AUZ) for allegedly breaching its continuous disclosure obligations and its managing director Benjamin Bell for allegedly breaching his directors’ duties. On 19 February 2018, Australian Mines announced to the ASX that it had entered a term sheet for an offtake…
Production picks up pace at Tesla
SHANGHAI – A total of 10,000 vehicles had rolled off the production line by April 30 in U.S. carmaker Tesla’s Shanghai Gigafactory since it resumed production on April 19 after a brief hiatus, according to the company. In the first four months of this year, Tesla’s Shanghai factory delivered 183,686 vehicles, over 1.7 times the…
CommSec morning report Wednesday
Latest news In US economic data, the NFIB small business optimism index was unchanged at 93.2 in April (survey: 92.9). European sharemarkets rose from two-month lows on Tuesday. The pan-European STOXX 600 index rose by 0.7%, led higher by financial services stocks which rose 1.4%. Germany’s ZEW institute survey showed economic expectations lifting from -41…
CommSec Morning Report
Latest news • In US economic data, the Consumer Price Index (CPI) rose by 0.3% in April (survey: +0.2%) to be up 8.3% over the year (survey: +8.1%). Excluding food and energy (core CPI), prices rose by 0.6% in April (survey: +0.4%) to be up 6.2% on the year (survey: +6%). • European sharemarkets climbed…
China to inject new vitality into global recovery
DHAKA – China is set to drive global economic growth and inject new vitality into global recovery, a leading Bangladeshi economist told Xinhua in an interview on Monday. “China did well during COVID-19 which may be the example for other nations,” said Md Aynul Islam, general secretary of the Bangladesh Economic Association (BEA), noting that…
Chinese yuan weakens to 6.7134 against USD Tuesday
BEIJING, – The central parity rate of the Chinese currency renminbi, or the yuan, weakened 235 pips to 6.7134 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each…
The evening report
Latest News The Aussie sharemarket started the week on the back foot and was down as much as 1.6 per cent, before finishing 1.2 per cent or 85 points lower, to 7121. This comes after a rather weak lead from Wall St on Friday, where major indices closed lower for a fifth straight week. Locally,…
