China needs to cut lending to coal-related industries and shift more financing to cleaner businesses in order to address a huge funding gap that is hindering the country's war on pollution, a study drawn up in part by central bank researchers said.
Tags: China
Alibaba, China Telecom tie up to sell phones
Chinese e-commerce leader Alibaba Group Holding Ltd and state-owned China Telecom Corp Ltd have tied up to sell inexpensive smartphones aimed at boosting mobile commerce in smaller cities and rural areas.
Volvo to make new generation of small cars in Belgium and China: CEO
Sweden's Volvo Cars will produce at its Belgian factory a small car based on a common platform and engine technology developed with Chinese parent Zhejiang Geely Holding Group [GEELY.UL], Volvo's chief said.
Venezuela may have missed $24 billion in oil revenue in 2014
Venezuela, struggling to pay for essential items such as food and medicine amid strict foreign currency controls, may have failed to collect about a third of its potential oil revenue in 2014, a Reuters analysis suggests.
Asian central banks to ease further, but effects may be muted: Reuters poll
Emerging Asian central banks are expected to cut interest rates again in the coming months, but economists polled by Reuters are doubtful the moves will significantly boost growth or inflation.
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Asian shares weathered a soft reading on Chinese manufacturing on Thursday as it only whetted expectations for more policy stimulus there, while a sharp rise in British and German bond yields rippled through global debt markets.
Leaders of Asian and African nations called on Wednesday for a new global order that is open to emerging economic powers and leaves the "obsolete ideas" of Bretton Woods institutions in the past.
Yum Brands Inc, owner of KFC and Pizza Hut chains, on Tuesday said business in its biggest market China is recovering from a meat scare at one of its minor suppliers and the division would finish the year strong.
China will switch to a "registration system" for initial public offerings (IPO), ending the current approval process, the official China Securities Journal reported on Tuesday, a day after parliament began reviewing draft changes to the Securities Law.
Aberdeen Asset Management's head of Asian operations warned on Tuesday that Chinese money was moving "a bit like a casino" in domestic stock markets, while BlackRock called on China to reform its capital markets further to avert boom and bust scenarios.
Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom's willingness to defend market share at a time when oil markets have staged a fragile recovery.
China's drumroll of policy support for its flagging housing market has met an unlikely foe: banks. Beijing has tried to revive a flagging housing market as it looks to arrest an economic slowdown, but banks are increasingly worried about bad debts and are not passing on policy steps like interest rate cuts and lower downpayment requirements to home buyers.
Equity markets rebounded on Monday after China took steps to stimulate its economy and Wall Street also rose on corporate earnings, while the euro weakened further on worries about Greece.
China's central bank will inject some of its war chest of foreign exchange reserves into two state-owned policy banks to support the government's overseas development plans, financial news magazine Caixin reported.
