CHINA

China banks cut bad loans, raised provisions in 2010

Chinese banks finished 2010 in a stronger position than they started, chipping away at their bad debt holdings and beefing up provisions in case their asset quality deteriorates, a new set of official data shows.

Mozambique to expand capital's port

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Mozambique's Ports Development Company (MPDC) said on Tuesday it would increase the handling capacity of its Maputo port to 12 million tonnes this year from 8.7 million in 2010 to take more coal from South Africa.

Algeria's Sonatrach sees steady oil, LNG exports

Algeria expects oil production to remain steady in 2011, while liquefied natural gas (LNG) supply contracts will be met despite reduced capacity, the head of state-owned energy giant Sonatrach said on Tuesday.
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The Sands casino and hotel is seen in Macau

Macau casino boss fights family over his vast empire

Billionaire Stanley Ho, the 89-year old godfather of a casino business empire based in Macau in southern China, is battling members of his own family over the control of companies that comprise his immense wealth.
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Gold eyes 10-week low as safe-haven bid fades

Gold fell to its lowest in ten weeks on Tuesday, putting the price on course for its worst monthly performance in 13 months as safe-haven demand evaporated and investors booked further profits on the 2010 rally.

Huawei Sues Motorola Over Asset Sale

China's Huawei Technologies Co. Ltd. has sued Motorola to delay the sale of the latter's wireless infrastructure business to Nokia Siemens Networks. The lawsuit alleges that such a sale would possibly result in illegal transfer of Huawei's intellectual property.
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Recovery builds but Europe, inflation pose risks: IMF

Europe needs to strengthen its financial rescue fund to reduce the risk of renewed global instability as U.S. tax cuts and buoyant emerging economies help propel the recovery elsewhere, the IMF said on Tuesday.
India top court defers view on PM role in scandal

U.S. eases some high-tech export curbs on India

The U.S. Commerce Department said on Monday it was easing restrictions of exports of high-technology goods to India in recognition of the two countries' stronger economic and national security ties.
Michael Fennell, president of the Commonwealth Games Federation, waves upon his arrival as the President of the Indian Olympic Association (IOA) and Commonwealth Organising Committee Chairman Suresh Kalmadi watches at the airport in New Delhi September 23

India sacks Games chief Kalmadi as graft rows rumble on

India's new sports minister on Monday sacked the chief organiser of last year's scandal-ridden Delhi Commonwealth Games, Suresh Kalmadi, as the coalition government caught in a web of corruption cases seeks to repair its public image.
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U.S. tax cuts give world growth a boost: IMF

A package of U.S. tax cuts should give a lift to a global economic recovery that had already begun to gain speed late last year, the IMF said on Tuesday as it revised its world growth forecast higher.
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Huawei sues to alter Motorola-Nokia Siemens deal

China's Huawei Technologies Co Ltd has filed a lawsuit to block Motorola from selling one of its business units to Nokia Siemens Networks, demanding that the $1.2 billion deal be altered to avoid infringing on intellectual property rights.
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McDonald's likely to raise prices in 2011

McDonald's Corp plans to raise prices this year to help offset an expected rise in its grocery bill for the 10 commodities that account for around 75 percent of its food preparation costs.

GM sold more cars in China than in U.S. last year

General Motors Co. (NYSE: GM) said it sold more vehicles in China than it did in the U.S. in 2010, making it the first time in the automaker’s 102-year history that sales in a foreign country surpassed domestic sales.

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