Business News for Monday January 3, 2011

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New pipeline brings Russian oil to China BEIJING (UPI) -- A new 625-mile-long China-Russia pipeline began full operation during the weekend, shipping oil from Russia's Far East to energy-hungry China, a spokesman said. Current plans call for the pipeline to transport 15 million tonnes, or about 106 million barrels, of Russian crude annually to northeastern China in the next 20 years under an agreement between the two countries, the official Chinese news agency Xinhua reported. As of Sunday, or within 24 hours of ... Continue Reading... Post a Comment | Share | Print More firms see Japanese economy leveling TOKYO (UPI) -- More than two thirds of Japan's major companies said they see the country's economy "leveling off," a survey found, up sharply from an earlier poll. In the latest survey by Kyodo News, executives of 84 of the 110 participating companies, or nearly 76 percent, see Japan's economy losing momentum, up from 27 percent in the new agency's poll in August. The latest survey also showed executives at only 12 companies said they now believe the economy is gradually ... Continue Reading... Post a Comment | Share | Print China rate hikes likely BEIJING (UPI) -- China, under pressure to control inflation and liquidity, is "very likely" to announce interest rate hikes in the New Year, Xinhua news agency reported. Such a step, also designed to cool the property market, would follow similar increases in October and December. On Christmas Day, the one-year lending rate was raised to 5.81 percent and the deposit rates to 2.75 percent. In October, the government raised rates for the first time in more than two years to ... Continue Reading... Post a Comment | Share | Print Advertisement "Give me ONE Day and I'll make your lawn the most dazzling spectacle on the block..." Free Paula Deen 12-Piece Cookware Set China, Taiwan cut tariffs to boost trade BEIJING (UPI) -- China and Taiwan boosted trade by cutting tariffs as the year began, their governments said. Under the "early harvest program" of the Economic Cooperation Framework Agreement, the mainland cut tariffs on 539 Taiwanese goods and Taiwan did so for 267 mainland goods, Xinhua reported Sunday. Within two years, the duties on those products will be eliminated, which will give Taiwan an advantage over Japan and South Korea in the Chinese market. On ... Continue Reading... Post a Comment | Share | Print     More Headlines • Late tax law delays processing returns • Some blame unions for economic woes • Apple: iPhone alarm glitch will be fixed     More News From ArcaMax Current News Entertainment News Business News Sports Political News Weird News Religious News Lifestyles

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