Tag: China

• Wednesday, April 22nd 2015 - 06:35 UTC

  Petrobras receives financial support from China and local banks

  

  Brazilian state-run oil company Petrobras approved a series of financial agreements with local and international banks that will meet its financing needs in 2015, the company announced. In a filing with local stock regulators, Petrobras said that the deals will provide the company with access to about 6.2 billion dollars, including a 3.5bn financing contract reached with China Development Bank on April 1.

• Monday, April 20th 2015 - 06:31 UTC

  IMF warns “lower growth” becoming a relevant challenge over the medium term

  

  The International Monetary Fund warned in a communiqué that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports.

• Monday, April 20th 2015 - 06:24 UTC

  China cuts banks' reserve ratio to bolster lending and a weak economy

  

  China's central bank is to cut its bank reserve requirement ratio by one percentage point. The People's Bank of China said that the new reserve requirement would take effect from Monday. The aim is to stimulate more lending into the nation's slowing economy.

• Thursday, April 16th 2015 - 08:12 UTC

  Brazil questions Argentina's approach to China in military procurement

  

  Brazil's minister of defense Jacques Wagner questioned Argentina's approach to China regarding military procurement, but discarded any conflict with Buenos Aires, since the country is a 'strategic and important partner' of Brazil. Apparently the issue was brought up by Jacques when he visited his counterpart Agustín Rossi in Buenos Aires last week.

• Tuesday, April 14th 2015 - 18:35 UTC

  China's exports/imports fall in March; trade surplus lowest in 13 years

  

  China's monthly trade data shows exports fell in March from a year ago by 14.6% in Yuan terms, compared to expectations for a rise of more than 8%. Imports meanwhile fell 12.3% in Yuan terms compared to forecasts for a fall of more than 11%.

• Tuesday, March 31st 2015 - 10:13 UTC

  Brazil ready to join China's Asian Investment bank; (Argentina any moment)

  

  The Asian Infrastructure Investment Bank, AIIB, seen as a challenge to existing institutions the World Bank and Asian Development Bank, has drawn a cool response from the United States, despite which European U.S. allies including Britain, France, Germany and Italy have already announced they would join the bank.

• Friday, March 27th 2015 - 07:23 UTC

  Argentina denies purchase of Russian aircraft but admits the Chinese option

  

  Argentina 'never had in consideration' the possibility of purchasing fighter aircraft from Russia, such as the Sukhoi Su-24, to replace the aging French Mirages to be decommissioned by the end of the year, said Defense minister Agustín Rossi.

• Wednesday, March 18th 2015 - 08:20 UTC

  EU main economies announce plans to join China-led development bank, despite US warning

  

  France, Germany and Italy on Tuesday announced plans to join the Chinese-led development bank AIIB, drawing concern in Washington which views the institution with skepticism. The three European countries want ”to become founding members of the Asian Infrastructure Investment Bank (AIIB)”, they said in a statement.

• Monday, March 16th 2015 - 10:25 UTC

  UK caught on the wrong side in a US/Beijing dispute over Chinese development bank

  

  The US has expressed concern over the UK's bid to become a founding member of a Chinese-backed development bank. The UK is the first big Western economy to apply for membership of the Asian Infrastructure Investment Bank (AIIB) despite the fact that US has raised questions over the bank's commitment to international standards on governance.

• Friday, March 6th 2015 - 18:21 UTC

  China lowers 2015 growth estimate to 7%; in 2014 expansion was the slowest in 24 years

  

  Shares in China fell after the country's government set its official growth target at 7% for this year. The rate is lower than last year's target of 7.5%, which China missed after it grew at the slowest pace in 24 years. The Shanghai Composite closed down 1% at 3,248.48, while Hong Kong's Hang Seng ended 1.1% lower at 24,193.04.