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China corporate jet sales 'dire' after graft sweep SHANGHAI: China's corporate jet market is facing a "dire" 2015, an aviation consultancy said, as slowing economic growth and a persistent crackdown on corruption batter sales.The number of corporate jets -- also called business or executive jets -- in mainland China rose 16 percent year-on-year to 297 in 2014, independent consultancy Asian Sky Group stated in its annual fleet report.That was a slowdown from a 26.7 percent surge in 2013 and little improvement is seen for this year, it added, describing the prospects for Greater China -- which includes the mainland, Hong Kong, Macau and Taiwan -- as "dire indeed".The first US Gulfstream jets only arrived in China in 2003, widely seen as the dawn of the new market. "The ongoing crackdown on corruption, I mean it just makes people sort of put their wallets away and think about it," Asian Sky Group Managing Director Jeffrey Lowe said."China is not ...

GM is shielded from some ignition-switch suits, ruling finds NEW YORK: General Motors Co will not have to face dozens of lawsuits accusing it of concealing an ignition-switch defect that has been blamed for more than 200 deaths and serious injuries, a US bankruptcy judge ruled on Wednesday. Plaintiffs in the lawsuits said the company violated their constitutional rights by failing to disclose the defect, while GM had argued it was protected from claims on vehicles pre-dating its 2009 exit from Chapter 11 bankruptcy. ...
Renault summons board in response to French stake hike PARIS: Renault will hold an emergency board meeting on Thursday in response to French government moves to tighten its grip on the carmaker and its alliance with Nissan, a company source with knowledge of the matter said. The afternoon board session has been scheduled to discuss "shareholding changes", the source said, after France raised its Renault stake to bolster its influence over the company in a challenge to Chief Executive Carlos Ghosn. Neither Renault nor ...
Nokia agrees 15.6-bn-euro deal to buy Alcatel-Lucent PARIS: Nokia has struck a 15.6-billion-euro deal to buy its rival Alcatel-Lucent to create the world's biggest supplier of mobile phone network equipment, both firms said Wednesday.The merger of two companies that were once new technology stars but have since lost some of their lustre will produce a European champion able to take on Nokia's Swedish rival Ericsson or fierce Chinese competition.The announcement sent shares in Alcatel-Lucent plunging 15 percent on Paris's stock market, while ...
Toyota lifts new plant freeze with $1bn Mexico factory TOKYO: The world's biggest automaker Toyota, ending its freeze on building new factories, announced plans on Wednesday for a $1.0 billion plant in Mexico and another production line at a Chinese facility.The Japanese giant said it would build a factory in the central Mexican state of Guanajuato to start production of the Corolla sedan in 2019, creating about 2,000 jobs.The company also said it was adding another production line to an existing plant in southern ...
AstraZeneca immune system drug wins orphan status in rare cancer LONDON: An experimental medicine from AstraZeneca that helps the immune system fight tumours has won "orphan" drug status in the United States for treating malignant mesothelioma, a rare type of cancer.Tremelimumab is one of a number of immuno-oncology products that AstraZeneca is banking on as it focuses heavily on promising new treatments for cancer.The British drugmaker said on Wednesday its antibody treatment had been awarded the orphan designation, which aims to encourage drug development for ...
EU to announce Wednesday on Google anti-trust probe BRUSSELS: EU competition regulators are set to announce on Wednesday whether they will file anti-trust charges against Google over its domination of the European search market, sources close to the case told AFP.No decision had yet been taken, the two sources stressed, although British and US media reported late Tuesday that the EU was planning to file charges against the search engine behemoth.Competition Commissioner Margrethe Vestager must submit the proposal at a European Commission meeting ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln