PetroChina has announced its earnings, forecasts and future planning for cutting down production on Wednesday in Hong Kong. Around 67% decrease in net profit and 12-year low oil price has apparently prompted the oil and gas company to reduce output by 2.7%.
China
Chinese economic revolution pushing demand for Australian economy
The growing Chinese demand is boosting Australia’s food, health, tourism and education sectors. The economy transitions in dragon country from infrastructure investment to consumption-led growth is showing up all over Australia.
‘India-China Business & Investment Summit’ Glorifies The ‘Make In India’ Campaign
Seven day lingering summit of the ‘India-China Business & Investment Forum’ has been kicked off on Sunday while highlighting the ‘Make In India’ campaign. More than 20 Indian firms have participated in the summit. Meanwhile, four CEOs from Chinese companies already invested in India, have urged the Chinese investors to avail of the Indian government offered investment opportunities.
Shanghai Disneyland Opening Day Tickets Sale Is A Blockbuster!
It's a record for Shanghai Disneyland as its June 16 opening day tickets became sold out after a few hours of selling. Discounts await children, seniors and guests with disabilities including those who will purchase for a two-day event.
Chinese Production Sector Reports The Highest Growth Since July 2014
Chinese production sector has been witnessed to go through the weakest growth due to reduction in demands and historic low iron ore and crude oil prices. Following the stimulus measures adopted by the Chinese premier, the industrial profits have been revamped to record the highest growth during January and February since July 2014.
Latest News
Stocks in the Asian market faced a steep decline for the second day following the drop in oil to less than $40 per barrel. In addition to the oil price drop, investors were curious about the US financial policy.
State-run media broadcasts indicated that the Chinese government is turning against the country’s most successful e-commerce company Alibaba. However, the company didn’t seem to take much damage from the reports in terms of sales and shares.
Price of iron ore rallies as China's property market showed further sign of recovery. Surge in the price of iron ore also correlated with increase in steel futures.
The Chinese central bank governor has warned over rising debt levels. To tackle the abnormal situation, the central bank feels necessity for promulgation of regulation guarding excessive leverage in foreign currencies. Meanwhile, the Chinese government vows to respond according to the call of time.
Profit booking pulled yellow metal on Monday below psychological mark-$1,250 an ounce. Gold price fell for four weeks in the past five weeks.
Chinese consumers are spending more on spa visits, travel and entertainment as income levels are on upward movement. The consumer spending is expected rise 10 percent annually for the next decade.
Samsonite saw strong sales in Asia, particularly China, in 2015. The company is not sure about 2016 outlook due to potential challenges, as it moves forward to boost presence in Asian markets.
Ctrip reported a 50% increase in its net revenues for the fourth quarter ended December 31, 2015, as demand for online ticketing increases.
The strengthening of Yen is eroding the value of Japan's exports to the US. Its overall exports volume was flat, while the value declined over four percent owing to rising Yen.
