CHINA

China's "moon cake tax" too much to stomach

China's moon cake tax too much to stomach

A Chinese tax on moon cakes is not likely to spark an uprising of the sort that earned the Boston Tea Party its place in history, but the move has left a bad taste in the mouth ahead of the Mid-Autumn Festival.

China shares down, HK set for worst month since 2008 crisis

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Hong Kong shares are poised to post the worst month since the 2008 financial crisis despite a third session of slim gains on Wednesday on the back of oil counters, but thin overall turnover continued to point to a lack of conviction in the rally.

Itochu to buy 30 pct of China's Shangdong Ruyi

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Japanese trading house Itochu Corp said on Wednesday it will acquire 30 percent of Shandong Ruyi Group for roughly 15 billion yen ($200 million) , as it looks to expand in China's clothing sector.
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Silvercorp Metals in Share Buyback

Silvercorp Metals Inc., a Vancouver-based mining company, said Wednesday it purchased 2,027,167 of its common shares at an average price of $8.112 (Canadian).
Bolt of Jamaica walks during training session near the Athlete's village at the IAAF World Championships in Daegu

IAAF will not Rush to Change Rule that Ousted Bolt

The International Association of Athletics Federations (IAAF) will not be rushed into revising the controversial false-start rule that sent Usain Bolt crashing out of the world championships 100 meters, a top official said on Wednesday.
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Bird Flu Returns with Deadlier Strain, Warns UN

The United Nations' Food and Agriculture Organization (FAO) has issued a warning, looking at the situation that it a mutant strain of deadly flu is already spreading in China and Vietnam, according to CBS News report. Fears of an outbreak of bird flu this winter have been raised by the United Nations. Bird flu was in decline, but FAO warns it appears to be on the rise again and the new bird flu strain is even deadlier.
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Russia's Mail.ru Raises 2011 Growth Forecasts

Russian internet investment group Mail.ru raised its full-year revenue growth forecast to 50 percent from 40 percent on Wednesday after sales and profit rose at its social network, online gaming and e-mail activities in the first half.
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Russia's Mail.ru raises 2011 growth forecasts

Russian internet investment group Mail.ru raised its full-year revenue growth forecast to 50 percent from 40 percent on Wednesday after sales and profit rose at its social network, online gaming and e-mail activities in the first half.
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Asia to Add 1.66 Million Millionaires by 2015: Study

Asia will add 1.66 million dollar-millionaires by 2015, taking the total number of wealthy to 2.82 million as the world's fastest-growing major economies of China and India continue to mint millionaires, a report from Julius Baer said on Wednesday.
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Weak electronics short-circuit Asian growth

Japan and South Korea reported surprisingly weak July factory output on Wednesday as global electronics demand faded, exposing Asia's vulnerability to a worsening U.S. and European economic slowdown.
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eBay pins Growth Hopes on China

eBay Inc expects sales from large exporters in China to maintain growth at 30-40 percent annually, with the e-commerce giant seeking acquisition opportunities as part of efforts to expand its footprint in the fast-growing market.
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eBay pins China hopes

eBay Inc expects sales from large exporters in China to maintain growth at 30-40 percent annually, with the e-commerce giant seeking acquisition opportunities as part of efforts to expand its footprint in the fast-growing market.
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eBay eyes up to 40 percent jump in China sales

eBay Inc expects sales from greater China to grow 30-40 percent annually from about $4 billion in 2010, with the e-commerce giant seeking acquisition opportunities as part of efforts to expand its footprint in the fast-growing market.
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China state media urge crackdown on microblog rumours

China's state-run news agency demanded on Tuesday that Internet companies, regulators and police do more to cleanse websites of toxic rumours, adding to signs that the ruling Communist Party wants to tame the explosion of freewheeling microblogs.
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Japan maestro Ozawa cancels China performances

Seiji Ozawa, Japan's most famous conductor, will not take part in a music festival in China later this week, organizers said, with media reporting that he was in hospital in Tokyo for tests.

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