CHINA

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Drought shrivels worldwide wheat supply

From Australia to Argentina, erratic weather is slashing wheat crops of the major producers, which is threatening to push up prices to multi-year highs and making it difficult for countries to replenish stocks.

China heroes mark time before foreign Web game assault

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A patriotic Internet game featuring heroic Chinese and designed to wean the young off their addiction to violent foreign games is still not ready for release a year after development begun, state media said on Tuesday. Unlike the more popular games, where players have to slay dragons, fight aliens or beat up bad guys, in Chinese Heroes players click on statues to learn about their experiences and carry out tasks like moving bricks, Xinhua news agency said.

China to invest $5 billion in Venezuela energy

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China will invest around $5 billion in energy projects in Venezuela by 2012 as part of a plan to boost Venezuela's oil output, the South American country's energy minister told state television on Monday.
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Gateway gets $450M bid for retail ops

Gateway Inc. has received an unsolicited offer from eMachines founder Lap Shun Hui to acquire the computer and printer maker's retail operations for $450 million.
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OPEC will not lower price quotas

Major oil producing countries will not lower their oil production for the rest of the year as they work toward stabilizing oil prices, said OPEC's President, Edmund Daukoru on Thursday.
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Apple work code broken at supplier's China plant

Apple Computer Inc. said on Friday that its main supplier of iPod music players let employees in a China plant work longer hours than allowed by Apple's code of conduct, and that it had taken steps to address the issue.
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India to invest $1bn in African oil

India's growing thirst for oil has prompted the country to seek investments worth $1-billion in oil development and mining projects in Africa's Ivory Coast.
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Venezuela To Increase Oil Sales to China

Venezuela's Energy and Oil Minister Rafael Ramirez said on Tuesday the country plans to increase oil sales to China to 200,000 barrels a day by the end of the year.
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Thin-skinned China targets online pranksters

China's censors are targeting on-line spoofs of films, celebrities and Communist icons, a Chinese newspaper reported on Tuesday, in the government's latest campaign to regulate Internet content.
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Global Chip Equipment Sales Skyrocket

Worldwide sales of chip-making equipment in June posted the highest percentage growth in months, with demand expected to grow still further in the next quarter, an industry group said Monday.
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Nigeria Gets Partial Funding For Railway Makeover

Nigeria is set to receive a $2.5-billion loan from the US Federal Government to assist government plans to rehabilitate and modernize the country's dilapidated railway system, President Olusegun Obasanjo said on Wednesday.
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Chinese labor policies mar African welcome

When Chinese investors bought struggling copper producer Chambishi Mining Plc, miners in this Zambian town gave them a heroes' welcome for averting its closure and for creating more jobs.
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China set for more baby-step fuel price hikes

China is all but certain to raise retail gasoline and diesel prices for a third time this year, but will not jack up rates by the more than 15 percent that would be necessary to close the gap with rallying crude costs.
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Qualcomm Could Blink First in Royalty Standoff

Faced with the possibility of losing India's leading CDMA mobile operator, wireless technology company Qualcomm could soften its negotiating stance and reduce royalty rates it charges even as it hints that fresh negotiations with other providers around the world are in the offing.
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Africa Exports to China Grow

Africa's trade with China has grown considerably with exports rising by 72 percent in 2005. The figure surpassed exports to Europe which only amounted to 30 percent, said Standard Chartered Bank on Wednesday.
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Forex market doubts strength of Paulson's dollar

Treasury Secretary Hank Paulson's public support for a strong dollar on Tuesday failed to fully convince the foreign exchange market, which is now bracing for further weakness in the U.S. currency.
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Cyworld Lands on Myspace

It has been tremendously successful abroad but now, Cyworld is trying to make a successful landing in Myspace territory.
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India, South Africa, Mercosur to Pursue Trade Talks

Countries such as India, South Africa and South American Mercosur nations will continue trade negotiations following the indefinite suspension of global trade talks through the World Trade Organization.

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