CHINA

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Geely, Ford to sign Volvo accord on Sunday--Volvo

Zhejiang Geely Holding Group, China's largest private-run car maker, will sign an agreement on Sunday with Ford Motor to buy the U.S. carmaker's Volvo car unit, a Volvo spokesman said on Saturday.

China imports 40% less crude oil from Iran

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Chinese crude oil supplies from Iran seems to be squeezing as the Asian dragon's crude oil imports from its third largest supplier, Iran, shrank by nearly 40% in the first 2 months of 2010 against the corresponding period last year. Even as the country's economy is thriving and the demand for crude has been rising steadily, the imports have shown a significant fall in the given period.
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India to expand basmati rice markets to boost export

India, world's largest producer of aromatic, premier variety basmati rice, is planning to expand its market by exporting to two more countries and increasing shipments to existing country, said APFPEDA official on Friday. State run Agricultural and Processed Food Products Export Development Authority (APFPEDA) said that Mexico has contracted for the basmati rice and China is expected to open a market for premium rice soon.
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China yuan decision hinges on jobs -c.bank adviser

China could move again to greater flexibility in its currency regime but needs to take domestic factors such as employment into account when deciding whether to do so, a central bank adviser said in remarks published on Friday. In an op-ed article titled Toying with yuan won't help us, Fan Gang, the only academic member of the People's Bank of China's monetary policy committee, wrote that a rise in the currency itself was not a solution for U.S. economic problems, including employment.
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U.S. lead in nanotech eroding, report finds

The United States urgently needs to invest more in nanotechnology if it is to maintain its global lead in the emerging field, according to a report issued on Thursday to U.S. President Barack Obama.
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CNPC, Shell to develop natural gas in Sichuan

Royal Dutch Shell of the Netherlands and China's China National Petroleum Corp have announced a 30-year deal to jointly develop and produce natural gas in China's Sichuan basin. The deal announced today by Shell, reveals close ties that the Anglo Dutch major has fostered with China's state-owned oil majors and comes close on the heels of Shell teaming up with PetroChina in sealing the acquisition for Australia's coal seam gas producer Arrow Energy yesterday for A$3.5 billion.
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Best Buy sees strong year as tech shoppers return

Best Buy beat Wall Street's view for profit and sales in its holiday quarter and forecast stronger-than-expected earnings in the current year as demand for electronics resurged in an improving economy.
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Toyota to realign Japan manufacturing operations

Toyota Motor Corp said on Thursday it is studying plans to reorganize its domestic manufacturing operations to consolidate production of similar vehicles regardless of brands across its group companies.
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China sees interest rates as heavy-duty weapon

A senior Chinese central banker on Thursday played down the need for an imminent rise in borrowing costs to keep a balance between growth and inflation in the world's third-largest economy.
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Euro falls amid EU woes, Asian shares falter

The euro fell to a new 10-month low against the dollar on Thursday as Portugal's credit downgrade added to worries about debt in Greece and elsewhere in Europe, hitting riskier assets such as shares and commodities.
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Dell says China sales to near $5 billion this year

World number three PC maker Dell expects revenues in China, its second largest market, to near $5 billion this year, chief executive Michael Dell said after launching a services business in the country.
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GM unveils electric concept car for mega-cities

General Motors unveiled a new electric concept car in China on Wednesday , aiming to burnish its image as a supplier of non-polluting cars tailored to the crowded mega-cities of the future.
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Google to phase out China search partnerships

Two days after shutting its Chinese portal over censorship, Google Inc said it plans to phase out deals to provide filtered search services to other online or mobile firms in China.
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Chinese refined copper imports up, to boost prices

Chinese imports of refined copper increased by 12% in February, 2010 over a month earlier as the inbound shipments kept rising on the back of improved demand and steadily falling scrap supplies. Analsts believed that copper prices may get a boost on the increased imports by China.
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Gold well supported at $1100, to hit $1,227 soon

Gold prices look well supported at $1100 and will hit its record high of $1,227 by mid-year and $1500 by year-end, according to Jeffrey Nichols, precious metals economist and Senior Economic Advisor to Rosland Capital.. However, the market will experience continued volatility with big swings in both direction around an upward trend this year and beyond, he added.
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Better to build commodity reserves: Jim Rogers

When it comes to investing in commodities market, everyone these days turns to Jim Rogers, the global investing legend on commodities. Rogers, author of bestselling books like Hot Commodities, A Bull in China, Investment Biker and Adventure Capitalist, is these days settled in Singapore. Rogers offers the most practical advice and information on commodities for beginners and seasoned investors. His books--especially Hot Commodities--are the best resources on how to read the commodities reports i...
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Rio trial ends, verdict could take some time

The trial of four Rio Tinto executives ended in Shanghai on Wednesday, with three contesting charges of stealing commercial secrets in a case that has highlighted China's sensitivities over its rich steel sector.
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Euro struggles at record low; stocks bounce

The euro plumbed record lows on Wednesday as investors remained skeptical about a solution for Greece's fiscal woes, while Asian stocks tracked Wall Street's rally overnight to push toward two-month highs.
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Wynn Macau posts 77.6 percent rise in net profit

Wynn Macau on Wednesday posted a 77.6 percent jump in second-half earnings, as more Chinese gamblers placed their bets in the Macau operations of Las Vegas casino operator Wynn Resorts , thanks to soaring economic growth.
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U.S. charges Daimler with violating bribery laws

German car and truck maker Daimler AG was charged on Tuesday with violating U.S. bribery laws by showering foreign officials with millions of dollars and gifts of luxury cars to win business deals.

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