CHINA

Oil fell toward $61 a barrel on Friday amid lingering skepticism on the pace of a global economic recovery, but prices are on track to snap four straight weeks of decline to post a weekly gain.

U.S. oil prices rose on Thursday, tracking a late-day rebound on Wall Street and bolstered by a report showing strong economic growth in China, the world's second biggest consumer of energy.

China would loosen its controls on overseas investment procedures and foreign exchange management of domestic companies to boost outbound investment, China's foreign exchange regulator said on Wednesday.

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The detention of Rio Tinto executives on spying accusations has allegedly wreaked havoc on the world's second-largest iron ore miner's sales in China, as the nation's steel mills took a wait-and-see approach on ore imports from the Anglo- Australian conglomerate, Chinese State media reported on Wednesday.

U.S. Senate Committee on Environment and Public Works held a hearing Thursday about the impact on American jobs of the climate bill. U.S. stockpiles of natural gas rose 90 billion cubic feet on the week ended July 10.

Beijing has found a new culprit to blame for China's asset bubbles -- foreign hot money. China's official reserves are rising again, breaking the $2 trillion mark in April, and unexplained inflows are once again coming under the critical microscope.

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U.S. stockpiles of natural gas rose 90 billion cubic feet on the week ended July 10. Toyota Motor Corp. may supply hybrid vehicles' components to automaker rival Mazda Motor Corp.

China is taking unprecedented action to address global warming and reduce its energy intensity, increasing chances for a new climate change agreement later this year, top U.S. officials said on Thursday.

U.S. Secretary of State Hillary Clinton leaves for India on Thursday on a high-profile mission to deepen ties and dispel any doubts about the U.S. commitment to New Delhi under U.S. President Barack Obama.

Oil fluctuated around $61 a barrel on Thursday as concerns about the strength of global fuel demand were offset by strong economic growth in China and better-than-expected U.S. banking results.

Shares in underground mall developer Renhe Commercial Holdings tumbled more than 9 percent after resuming trade on Thursday afternoon following the company's announcement of a share placement.

Las Vegas Sands Corp is seeking to amend its Macau bank loans of about $3.4 billion, a spokesman for the casino operator said on Wednesday.

Oil dipped below $61 a barrel on Thursday after gaining more than 3 percent in the previous session, as investors remained cautious about the pace of economic recovery despite strong growth numbers from China.

Chinese solar panel maker Yingli Green Energy Holding Co Ltd said on Wednesday it is opening two U.S. regional headquarters in New York and San Francisco, marking the company's latest bid to expand its business in North America.

Top U.S. officials on Wednesday left open the possibility that China might not have to accept a hard cap on its greenhouse gas emissions under a new global climate change treaty.

World stocks hovered around flat on Thursday despite strong Chinese growth data that provided reassurance on the global economy as investors braced for the spate of U.S. and European corporate results due this week.

Asian shares jumped on Thursday, buoyed by strong U.S. earnings and increasing global recovery hopes after China's economy grew faster than forecast in the second quarter.

Asian shares jumped on Thursday, buoyed by strong U.S. earnings and global recovery hopes after China's economy grew faster than forecast in the second quarter.

The refining profit in the first half of 2009 has increased to a record level, PetroChina Company, Ltd., the largest integrated oil company in China said on Wednesday, without providing any specific numbers.