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 Geneva (AFP) Aug 2, 2009 
China can finance the US economy because its workforce is large relative to children and old people, a new analysis suggests, trying to solve a mystery why Beijing is a major net creditor rather than a borrower as emerging economies usually are. And this strong ratio of workers to dependants is set to last for at least 15 years although the net benefit for China will decline as the burden of ... read more 
Sofia (AFP) Aug 3, 2009Bulgaria's new Economy, Energy and Tourism Minister Traicho Traikov said on Monday that he will review the justification for big energy projects because of the economic crisis. His main target was a project to build a new 2,000-megawatt nuclear power plant near Belene on the Danube. "What is clear is that work was done on a piecemeal basis, without any idea on how to achieve economic pro ... more
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Shanghai (AFP) Aug 3, 2009General Motors, which has just emerged from bankruptcy under a US government-backed plan, said Monday its sales in China jumped 77.7 percent last month from a year earlier to 144,593 units. The struggling US automaker and its joint ventures sold a total of 959,035 vehicles in China in the first seven months of the year, up 42.8 percent from the same period a year earlier, the company said in ... more 
Beijing (AFP) Aug 3, 2009Manufacturing in China hit a 12-month high in July mainly driven by domestic demand, a leading independent index showed Monday, in a further sign the economy is recovering. The CLSA China Purchasing Managers Index, or PMI, a closely watched indicator in the world's third-largest economy, rose to 52.8 last month, the highest since July 2008, when it stood at 53.3. A reading above 50 means ... more  
Paris (AFP) Aug 3, 2009Energy groups EDF and Enel said on Monday they were joining up to develop third-generation nuclear reactors for Italy as Italian authorities prepare to end a nuclear power moratorium in place since 1987. France's EDF and Italy's Enel "announced today the creation of the equal basis joint venture 'Sviluppo Nucleare Italia Srl'," they said in a statement. The new venture is "aimed at devel ... more |
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London (AFP) Aug 3, 2009 HSBC, Europe's biggest bank, said on Monday that first-half net profits slumped by 57 percent to 3.35 billion dollars (2.35 billion euros) as bad debts ballooned to nearly 14 billion dollars. Impairment charges and other credit provisions soared by 39 percent to 13.9 billion dollars in the six months to June, compared with the figure in the same period of last year, HSBC said in a results st ... more  
Beijing (AFP) Aug 3, 2009More than 500 people have been sickened by pollution from a chemical plant in central China that has also been blamed for two deaths, state media reported Monday. Health checks on nearly 3,000 people living near the plant in Liuyang county, Hunan province, revealed 509 had excessive levels of cadmium, a toxic heavy metal, Xinhua news agency said, quoting Zhou Mengde, a local official investi ... more  
New Delhi (UPI) Aug 3, 2009 The draft of India's ambitious National Solar Mission plan, aimed at reducing emissions and easing the country's crippling power shortages, was endorsed in principle today by the prime minister's Council on Climate Change, Press Trust of India reports. India, the world's fourth-largest emitter of greenhouse gases, would reduce its reliance on dirty coal under the plan. India's solar pow ... more |
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