CHINA

China eyes reform for development amid recession

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Chinese Premier Wen Jiabao urged long-term preparedness for dealing with the global downturn, saying China will tackle the development issue through reform, state news agency Xinhua reported on Tuesday.
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WISCO ties up with Australian miner

China's third largest steelmaker WISCO signed an agreement with Australian Centrex Metals Ltd (CXM) on Monday for joint development of iron ore mines in southern Australia and other projects, state news agency Xinhua reported on Tuesday.
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Coke tops view despite currency hit, shares off

Coca-Cola Co's better-than-expected quarterly profit was not enough to please investors who looked for stocks with stronger growth potential on Tuesday, as weaker foreign currencies reduced Coke's gains in emerging markets.
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Caterpillar net beats forecast; shares rise

U.S. machinery maker Caterpillar Inc posted stronger-than-expected second-quarter earnings and raised its full-year outlook, citing signs of global economic stability, sending its shares up as much as 13 percent.
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Google tightens grip on Chinese mobile search

Google Inc would strengthen its mobile search service in China, the first strategic move since the company came under the Chinese government glare for providing links to pornographic sites, ChinaDaily reported on Tuesday.
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Midday Minute - July 21 - Energy

NRG Energy Inc.'s shareholders voted to reject a slate of directors that rival Exelon Corp. had proposed for NRG's Board on Tuesday. The U.S. Senate Committe on Environment & Public Works is holding a hearing on the Waxman-Markey energy bill. China's solar energy sector surged on Tuesday on subsidies plan.
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Morgan Stanley uplifts China's 2009 GDP growth outlook to 9%

Investment bank Morgan Stanley has raised its forecast for China's 2009 GDP growth to 9% from the previous 7% and its 2010 GDP growth forecast to 10% from the previous 8%, Chinaknowledge reported on Tuesday, citing a new report of the bank.
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Beijing Auto eyes Daimler van partnership - source

Beijing Automotive Industry Holding Corp is in talks with Fujian Motor Industry Group to replace it as the local partner in a commercial vehicle tie-up with Daimler AG (DAIGn.DE) in southeast China, a source said on Tuesday.
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China's Chery Auto resumes IPO preparations -paper

Chery Automobile Co, China's largest indigenous car maker, has resumed preparations for an A-share initial public offering as the country's securities regulator lifted its nearly 10-month ban on domestic IPOs due to a recovery in the country's stock market.
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Merrill may sell management of Asian property fund: source

Bank of America's (BAC.N) Merrill Lynch is in talks with several firms including Blackstone (BX.N) and Apollo Investment Management to sell management rights of its $2.65 billion Asian Real Estate Opportunity Fund, a source with knowledge of the deal said.
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APEC decries protectionism, commits to Doha by 2010

Asia-Pacific nations agreed on Tuesday to shun protectionist measures after some criticized the United States and other developed world buy local campaigns at a meeting pushing forward momentum toward a global trade pact.
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CNOOC explores $15 bln JV with Repsol -source

China's CNOOC is exploring a potential $15 billion joint venture with Repsol, involving the Spanish oil company's global exploration and production assets, a source familiar with the matter said.
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Caterpillar beats Street and lifts outlook

U.S. machinery maker Caterpillar Inc posted stronger-than-expected quarterly earnings on Tuesday and raised its full-year outlook, citing what it said were growing signs of stability in the world's credit markets and economies.
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Coke tops view despite strong dollar

Coca-Cola Co reported a better-than-expected quarterly profit on Tuesday, aided by growth in emerging markets, but its shares fell as revenue was lighter than anticipated and investors looked for stocks with stronger growth potential.
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U.S. says China must pay to cut greenhouse gases

China and other developing nations must help pay for the reduction of greenhouse gas emissions blamed for global warming, U.S. Commerce Secretary Gary Locke said on Monday, backing off a recent statement that put a greater burden on the United States.

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