Big nations snub Beijing bank launch China will launch a new $50B Asia Infrastructure Investment Bank on Friday as it steps up its challenge to World Bank. The Financial Times reports.
Source: Financial Times
| By: Jamil Anderlini in Beijing
World's fastest growing consumer... isn't Chinese Burgeoning consumer markets usually bring the likes of China, India and Brazil to mind, but the top-five fastest growing ones aren't the usual suspects, according to a fresh report from Euromonitor International.
| By: Katie Holliday
Are Dr. Copper's fortunes about to reverse? Copper prices have stumbled to six-month lows amid over-supply and commodity-price declines, but some analysts tip a recovery in the red metal.
| By: Leslie Shaffer | Writer for CNBC.com
China shares close down; steel, property sectors weak SHANGHAI, Oct 16- China shares closed lower on Thursday, surrendering earlier gains as steel and real estate sectors suffered losses, although sentiment was underpinned by policy support for some industries. China Vanke lost 1.1 percent, and Poly Real Estate Group dropped 2.1 percent. Railway companies CSR Corporation Limited and China CNR Corporation...
With Glencore lurking, Rio Tinto stake gives Chinalco global clout Those are the sort of prizes Chinese aluminium firm Chinalco, the top shareholder in Rio Tinto, is likely to be looking for as trading giant Glencore weighs up a fresh takeover approach for the Anglo-Australian miner, people familiar with Chinalco's strategy said. Rio Tinto rebuffed an approach from Glencore in August that would have created a $160 billion...
| By: Sonali Paul and Denny Thomas
China shares end down on economic outlook, but coal sector strong SHANGHAI, Oct 13- China's shares eased on Monday in line with weakness in global markets as concerns mount over the health of major economies, but strength in the coal sector contained index declines. All 16 banking shares on the mainland fell, with China Citic Bank Corp dropping 1.1 percent and China Minsheng Banking Corp down 1 percent. Coal shares bolstered the...
China to levy coal import tariffs after a decade China, the world's top coal importer, will levy import tariffs on the commodity after nearly a decade, in its latest bid to prop up ailing domestic miners who have been buffeted by rising costs and tumbling prices.
BHP to slash costs to become cheapest supplier BHP Billiton aims to cut its iron ore production costs by more than 25 percent and squeeze more tons from its mines as it aims to overtake rival Rio Tinto as the world's cheapest producer, the world's largest miner said on Monday.
| By: Silvia Antonioli and Sonali Paul