Posts Tagged ‘China’
Business News

Number of Chinese billionaires on the rise

Publisher of luxury magazines and runner of a research institute — Forbes crowned machinery tycoon Liang Wengen as the nation s richest man. “Even though the stock market is going down, the wealth of the most successful people in China is going up,” Russell Flannery, Forbes senior editor and Shanghai bureau chief, told reporters. He pointed to a domestic building spree, higher demand for consumer goods and breakneck growth as driving the increase in wealth. “The high GDP (gross domestic product) growth rate simply gives a big platform and a lot of room for people to find new businesses,” he said. Liang, co-founder of machinery company Sany, topped the Forbes list with wealth of $9.3 billion. The Hurun report estimated his wealth at $11 billion. The construction tycoon moved to the number one spot from third last year, as China s building boom created demand for Sany s cranes and excavators. In s...

October 7, 2011

IT News

Yes, iPhone 5 does exist

LOS ANGELES - Apple-watchers had begun to wonder whether the ‘Let’s Talk iPhone’ event would consist only of new, cheaper models of iPhone 4 - or whether the usual sources who leak titbits about Apple were just slacking off this year. But yesterday a new leak seemed to confirm that a next-generation iPhone does exist. It might, however, be called iPhone 4S, not iPhone 5. Previously, the only ‘confirmed’ models seen in Apple’s official inventory had been a tweaked, cheaper iPhone 4 and new models of iPod Touch. The new device - reported via legitimate-looking photos of inventory entries posted on Apple websites such as 9 to 5 Mac, will ship with Apple’s dual-core A5 processor, the same nippy chip found inside iPad 2. It’s also likely to have a an eight megapixel camera, 1Gb of RAM and and and speech-to-text functionality - and possibly even more ‘voice’ functions. The ‘leak’ came via reports f...

World News

Pakistan our only all-weather friend: China

ISLAMABAD: With no signs of an improvement in strained Pakistan-US relations, Islamabad and Beijing on Tuesday warmed to each other with rhetoric loud enough to be heard across the Atlantic. “China categorically supports Pakistan‘s efforts to uphold its sovereignty, independence and territorial integrity,” said visiting Chinese Vice Prime Minister Meng Jianzhu at a meeting with Prime Minister Yousaf Raza Gilani. Meng went on to say that Pakistan was the only state with whom China enjoyed an “all-weather friendship.” The PM responded to Meng’s resounding endorsements with equally grand words. “Your friends are our friends, your enemies are our enemies and your security is our security,” he told the visiting leader. According to a statement from the PM’s media office, Gilani particularly mentioned close ties between China and Pakistan in the fields of terrorism, intelligence sharing and anti-narcotics. ...

September 28, 2011

Pakistani News

China supports Pakistan’s sovereignty, says vice PM

ISLAMABAD: China on Tuesday extended its full support to Pakistan’s sovereignty, independence and territorial integrity and vowed to work with Pakistan for progress and peace in the region and the world. Prime Minister Yusuf Raza Gilani who met the Deputy Premier of China Meng Jianzhu here at the PM House termed China as its close friend. Jianzhu said Pakistan was the only country enjoying all-weather friendship with China. Gilani said “a friend of China is Pakistan’s friend, its enemy Pakistan’s enemy and China’s security Pakistan’s security.” He said the two countries together can progress and prosper and bring the dividends of development to their people. The meeting was also attended by Interior Minister Rehman Malik, Foreign secretary Salman Bashir and ambassadors of the two countries.

World News

China Condemns Proposed US-Taiwan Arms Sale

China strongly condemned the latest U.S. plan to sell arms to Taiwan, and is calling on Washington to revoke what it is calling an erroneous decision. It is still unclear if the decision will lead to substantive rifts with Washington, as such sales have in the past. Foreign Ministry spokesman Hong Lei made clear China’s firm opposition to the latest U.S. plan to sell weapons to Taiwan. Hong called the plan erroneous and said it will “inevitably cause damage to China-U.S. relations.” He said the deal will hurt bilateral relations and cooperation in military and security. However the spokesman gave no details when asked about specific retaliatory action. The spokesman said the plan not only damages Sino-American relations, it undermines China’s national security and reunification efforts. U.S. Embassy officials confirmed that senior Chinese Foreign Ministry officials called in Ambassador Gary Locke over the arms...

September 22, 2011

Featured Articles

Pakistan To Swap Currency With China

[poll id="55"] The sources in the Pakistan Ministry of Finance told Dawn that they are considering entering into currency swap agreements with China and Malaysia for containing the declining foreign exchange reserves. According to the sources the foreign investment has declined by 25 per cent. The Ministry has already asked the State Bank to work out a strategy in consultation with the central bank of China for a currency swap arrangement. According to a senior official of the ministry ‘China already has such an arrangement with 18 countries and the central bank of Malaysia is also working over this aspect,’ The figures available at the State Bank indicate that the foreign currency reserves declined by $700 million within the last one month. The SBP data indicates that the dollar reserves on Nov 7, 2009 were $14.27 billion and it has dropped considerably to $13.57 billion by Dec 5 and this sharp decline has resulted in the...