Tags: China
Global business groups urge China to suspend bank IT rules
Business associations from the United States, Japan and Europe told Chinese officials on Monday they still have "strong concerns" about bank information technology rules and urged Beijing to formally suspend them.
World Bank cuts East Asia growth forecast, warns of risks to outlook
The World Bank cut its 2015 growth forecasts for developing East Asia and China, and warned of "significant" risks from global uncertainties including the potential impact from a strengthening dollar and higher U.S. interest rates.
Brazil's iPhone investment falls short on promises of jobs, lower prices
The Brazilian iPhone was meant to mark a new era. When Taiwan's Foxconn Technology Group agreed in April 2011 to make Apple products here, President Dilma Rousseff and her advisers promised that up to $12 billion in investments over six years would transform the Brazilian technology sector, putting it on the cutting edge of touch screen development. A new supply chain would be created, generating high-quality jobs and bringing down prices of the coveted gadgets.
IEA sees sharp rise in Iran oil output in 3-5 years post nuclear deal
World oil markets will not see a significant rise in Iranian supplies for up to five years even if the OPEC member and world powers clinch a final nuclear deal by end-June, Fatih Birol chief economist and future head of International Energy Agency (IEA) said.