A state think-tank said Chinese banks have reduced loans on property developments in smaller cities because of the glut in unsold homes there.
Industry
PMI shows expansion in Germany's private sector
The German private sector showed robust growth in August, according to Markit's PMI survey. The private sector in Germany showed signs of growth. A new survey conducted by financial information services company Markit revealed that the Purchasing Managers' Index (PMI) of Germany's private sector increased to 53.
Animal testing complicates L’Oreal expansion
L'Oreal's planned expansion into China's beauty markets had been burdened with complications as the country mandates animal testing for every new product introduced to Chinese consumers.
US Unite gets USD2 Million seed funding
Today, Unite US said that it had raised USD2 million in seed funding and plans to launch publicly this fall.
Everbright's proprietary head gets suspended after trading errors
After Everbright Securities Co. made erroneous buy orders of CNY23.4 billion last August 16, the state-backed firm suspended the head of its proprietary trading division.
Latest News
Facebook Inc unveiled new project, Internet.org to provide online access to more people around the world.
Vietnam announced plan to ban free chat applications to protect network providers in the country. The Vietnam government proposed a possible prohibition of free Internet chat applications.
Everbright Securities Co. faced a three month restriction on joining any property trading after it erroneously priced government bonds worth CNY10 million.
Cairn Energy said its planned explorations in Northwest Africa and Ireland yielded up to 25% chance of success compared to its exploratory project in Greenland.
The British government's 'Help to Buy' program increased Persimmon's spring sales.
Australian manufacturers underwent change in level of operations. The manufacturing industry was far from dead in the country down under. The face of the Australian manufacturing sector has been deemed not dead, just changing.
As Manila is flooded due to nonstop rains brought by the monsoon weather, large and small-scale businesses are left to deal with its aftermath.
Bayer Healthcare said it received approval to market its cancer treatment Stivarga in Japan. Bayer Healthcare announced it had received regulatory approval to market its cancer drug Stivarga in Japan.
Fiat announced the renewal of its cooperation agreement with Brazilian bank Itau Unibanco. Fiat (acronym for Fabbrica Italiana Automobili Torino) renewed its commercial cooperation agreement with Itau Unibanco.
