People's Daily: Business News
African Development Bank opens annual meetings in Shanghai
The African Development Bank (ADB) on Wednesday opened its annual board meetings in Shanghai, which are widely seen as a move to deepen China-Africa cooperation.
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World oil demand to reach 85.4 mln barrels a day in 2007: OPEC
The world's daily demand for oil will reach 85.4 million barrels this year, up 1.2 million from 2006, said the Organization of Petroleum Exporting Countries' (OPEC) Secretariat Tuesday in its monthly report.
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China exports less crude oil, coal in January-April period
China's General Administration of Customs Tuesday released export figures for the nation's major industrial products in the first four months of the year.
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Saudi Arabia announces discovery of two new oil fields
Saudi Arabia's state-run Aramco oil company has found two new gas-rich oil fields in the country's Eastern Province, Oil Minister Ali al-Nuaimi said Tuesday.
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EU trade deficit with Russia grows to 70 bln euros last year
The European Union last year recorded a trade deficit of nearly 70 billion euros with Russia owning to large energy bill, the EU's statistics bureau Eurostat said on Tuesday, three days ahead of a EU-Russia summit.
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China to start campaign to curb work safety accidents
China will conduct an inspection and supervision campaign to eliminate hidden work safety risks, a document released by the State Council said Tuesday.
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Chinese hi-tech products popular in Africa
"Hi-tech products from China such as computers, mobile phones and software are more and more popular in African countries, just like China-made clothes and shoes," Togo businessman Coubadja told Xinhua.
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U.S. consumer inflation up 0.4 percent in April
U.S. consumer prices rose by 0.4 percent in April as gasoline prices surged for a second consecutive month, the Labor Department reported Tuesday.
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U.S. retail gasoline price hits record 3.10 dollars per gallon
The national average price for regular unleaded gasoline rose 5 cents over the last week and hit a record 3.10 dollars per gallon this week, according to a survey released by the U.S. Energy Information Administration on Tuesday.
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Wal-Mart posts 8.1% rise in Q1 profit
Wal-Mart Stores Inc., the world's largest retailer, reported an 8.1 percent rise in first-quarter profit on Tuesday due to the strong increase in international sales.
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EU lawmakers agree with governments on roaming fee caps
Negotiators from the European Parliament and the European Union member states reached on Tuesday a tentative deal on roaming fee caps for mobile phone operators.
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State Councilor attends construction-launching ceremony of Airbus A320 China assembly line
Chinese State Councilor Tang Jiaxuan attended construction-launching ceremony of European aircraft maker Airbus' A320 assembly line in north China's port city Tianjin here Tuesday.
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China to promote financial cooperation between Asia and Africa
China and Africa will strengthen financial cooperation, said governor of the People's Bank of China Zhou Xiaochuan at a ministerial round-table prior to the annual meeting of the African Development Bank (ADB) Tuesday.
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Chinese enterprises play bigger role in investing in Africa
"Investing in Africa" is no longer simply a slogan proposed by the Chinese government. It now represents real dollars-and-cents business opportunities.
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China's auto output, sales both to hit record 8.5 mln units in 2007
China's auto output and sales are both expected to hit a record 8.5 million units this year, said sources with the China Association of Automobile Manufacturers (CAAM) on Tuesday.
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Shanghai residents top income list
Urban residents in Shanghai, China's financial and commercial hub, had the highest disposable income in China in the first quarter, the National Bureau of Statistics said Tuesday.
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Construction starts on Airbus A320 China assembly line
Construction of an assembly line for European aircraft maker Airbus A320 planes began on Tuesday in north China's port city Tianjin with a ceremony to mark the occasion.
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Bank shares lead downward adjustment in China's capital markets
All three major Chinese equity markets nosedived Tuesday, amid continued frothy turnover of 307 billion yuan (40 billion U.S. dollars) on the two bourses, up nearly 10 percent on the previous day.
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Mainland, Macao trade seminar to be held later in May
The 2007 Zhuhai-Macao Seminar on Investment Promotion and Trade Exchange will be held in Zhuhai on May 28, organizers said on Tuesday.
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Gold price lower in Hong Kong -- May 15
The gold price in Hong Kong went down 52 HK dollars to 6,211 HK dollars per tael on Tuesday, according to the Bank of China (Hong Kong).
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