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Audi expects to sell half million cars in China this year BEIJING: Volkswagen's flagship luxury division Audi said it plans to sell half a million cars this year in China, the world's biggest auto market, and raise the number of its Chinese dealers to 500 by 2017.Audi Chief Executive Rupert Stadler made the comments to reporters on Friday ahead of the Beijing auto show, which opens on Sunday. In 2013, it sold 488,000 vehicles in China and a total of 492,000 including Hong Kong. Audi is stepping up efforts to unseat German rival BMW as global luxury-car sales leader. Recovering European demand and Chinese growth pushed its deliveries to a record in the January-March quarter.Audi's total deliveries rose 11.7 percent to 412,850 cars, with a 21 percent gain in China after the carmaker started assembly of the A3 sportback model at a factory in Foshan in late 2013. Copyright Reuters, 2014 ...

GM says recalled cars safe, but has not tested for knee-bump danger WASHINGTON: General Motors says that cars being recalled because of faulty ignition switches can be driven safely before repairs, based on more than 80 tests, but the automaker has not addressed a problem long known to potentially shut off the engine: a simple bump from a driver's knee.Safety advocates and engineers say the lack of testing for this factor undermines GM's claims that the cars are safe. As early as 2004, GM engineers complained that ...
PetroChina hikes 2014 shale gas spending to $1.6bn BEIJING: Chinese state energy giant PetroChina plans to spend more than 10 billion yuan ($1.6 billion) on shale gas this year, more than triple its expenditures on the unconventional fuel over the past few years, two sources with knowledge of the matter said.PetroChina's decision to dramatically hike its shale gas spending comes just months after local rival Sinopec Corp lifted hopes that China is near a breakthrough by announcing a commercial find.PetroChina, Asia's largest oil ...
China's March refined copper output up 7.8pc SHANGHAI: China's refined copper output rose 7.8 percent in March from a year ago to 594,075 tonnes, data from the statistics bureau showed on Friday.Primary aluminium production in the same period rose 12.9 percent to 1.98 million tonnes, the data showed.China is the world's top producer and consumer of refined copper and primary aluminium.Copyright Reuters, 2014 ...
AkzoNobel paints posts Q1 profit bonanza THE HAGUE: The world's top paint maker AkzoNobel on Thursday said net profits leaped by almost half for the first quarter of 2014, backed mainly by lower financing costs for debt repayments.The Dutch-Swedish group said net profit jumped by 45 percent to 129 million euros ($178 million) year-on-year."Net income attributable to shareholders ... have increased significantly, benefiting from lower financing costs as a result of recent debt repayments," AkzoNobel's chief financial officer Keith Nichols said ...
European auto market pulls away from crisis: trade data PARIS: Demand for cars in Europe moved up another gear in March and struggling French group Peugeot Citroen did well, trade data showed on Thursday, but the market is still suffering badly from a recent slump.Sales of new cars in the European Union surged by 10.6 percent last month on a 12-month comparison to a total of 1.45 million.Sales rose in all countries in March with the British market leading the way, jumping 17.7 percent, ...
Ford's Lincoln brand to debut in China with eight stores in seven cities: exec BEIJING: Ford Motor Co. said on Friday it plans to launch its premium Lincoln brand in China in October, when it will open eight stores in seven Chinese cities.John Lawler, head of Ford's China operations, said Lincoln might be late to China's luxury boom but believes the country's upscale car market still has plenty of steam left for growth to make its debut worthwhile.He said Ford plans to boost the number of Lincoln stores to ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
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WeeklyApril 14, 2014
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