Major Asian oil buyers including India and China bought comparatively less loads of West African oil in June. According to reports, Indian, Chinese Taiwanese and Indonesian end-users bought a total of 1.65 million barrels per day (bpd) of crude from the oil-exporting region in 52 full or part cargoes, down from 1.72 million bpd in 56 cargoes in May.
Europe's debt crisis could disrupt global trade, hurting demand for Asian exports and sending hot money into the region if policymakers fail to act swiftly and appropriately, a top IMF official said on Wednesday.
European shares pushed higher on Wednesday, tracking gains in most Asian equity markets, as news of strong Chinese exports sparked a tentative return of risk appetite while the euro stabilized on options demand.
Most Asian stock markets clawed back early losses on Wednesday and the euro stabilized as news of stronger-than-expected exports from China offset worries that Europe's debt problems will stifle demand for Asian goods.
What is your Prediction for Gold in 2010 and 2011
Many are projecting gold to perhaps double in the span of one to two years. I think this would only be the case under one or two very severe circumstances. The most prominent threats are that the euro is abandoned or substantially restructured or there are a series of prominent downgrades amongst the major economies.
The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.
European leaders are committed to ensuring the survival of the euro and have enough money to meet obligations of heavily indebted member countries, Federal Reserve Chairman Ben Bernanke said on Monday.
iPhone maker Foxconn International Holdings Ltd said it will seek higher prices from clients to help offset wage increases at a plant in southern China that has been hit by a series of suicides.
McDonald's Corp reported a stronger-than-expected 4.8 percent rise in worldwide May sales at established restaurants, but said it expects a weak euro to take a bite out of full-year profits.
iPhone maker Foxconn International Holdings will no longer pay compensation to families of employees who kill themselves to discourage further suicides, China's Xinhua news agency said on Tuesday.
A new strike has broken out at a Chinese factory making exhaust systems for Honda Motor , prompting the carmaker to plan a suspension at two local car plants just days after a strike at another supplier was settled.
iPhone maker Foxconn International Holdings said it will seek higher prices from its clients to help offset wage hikes at a plant in southern China that has been hit by a series of suicides.
The euro bounced from a four-year low and Asian stocks edged up on Tuesday as traders paused a selloff of riskier assets ahead of Chinese economic data and a European Central Bank meeting later in the week.
Employers in most economies are more likely to add workers than three months ago, including those in the United States, but big gains are limited to booming emerging economies like Brazil, India and China, according to a quarterly survey by Manpower Inc .
Foxconn International confirmed on Tuesday another salary rise for staff on its Shenzhen production lines but said it was not clear how the adjustment would impact its 2010 operating results.
Now is the right time for China to reform its exchange rate regime, a Chinese government economist said in comments published on Tuesday. Fan Jianjun, a financial researcher with the Development Research Centre, a think-tank under the State Council, or cabinet, told the China Economic Times that the central bank should halt its currency intervention and let market forces decide the yuan's rate.
Chongqing Changan Automobile is in talks with partner Ford Motor to produce a mid-sized car in China using Ford technology but carrying a Changan brand, as they move to take their partnership to a new level.
Daimler would welcome having Chinese investors as shareholders and will itself remain a major owner of aerospace giant EADS, the German carmaker's Chief Financial Officer was quoted as saying.
Shares in Hon Hai Precision Industry tumbled on Monday on concerns about earnings after the electronics maker offered workers in southern China a second pay rise that could double wages from a month ago.
In its quest to acquire more energy, world's second largest oil consumer China is exploring a $1.2 billion deal with Iran to build six tankers in the coming years to transport liquefied natural gas.
Exxon Mobil is holding detailed discussions with China's national oil firms on partnerships for a number of resources including unconventional, a top executive said on Monday.
Bank of China's president no longer expects China to raise interest rates soon but instead may hike banks' required reserve rate, the China Securities Journal reported on Monday.
