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IEA cuts global oil demand forecasts

Paris (AFP) — Faltering economic growth will undercut global oil demand this year and next, the International Energy Agency said Friday, citing slowdowns in China and the United States in particular. “Sluggish economic growth could restrict annual oil demand growth to 0.9 million barrels per day in 2012 and 0.8 mbpd in 2013, with demand …

Daily News Egypt

Asian markets hit by weak China trade data

Hong Kong — Asian markets mostly fell Friday as weak Chinese trade data reinforced concerns of a slowdown in the world’s number two economy, while profit-taking after a week-long rally added to selling pressure. Wall Street provided a weak lead despite upbeat US jobs and trade data that indicated a positive outlook for the world’s …

Daily News Egypt

the customs authority plans to impose stricter oversight on Chinese imports (AP PHOTO)

Customs to impose stricter oversight on maritime ports

By Islam Zayed The Egyptian Customs Authority (ECA) recently scrutinised the status of 740 Chinese companies. The authority had issued a decision banning the companies’ products from entering Egypt because of numerous violations, including disregarding the standards of the Minister of Industry and Trade and presenting forged customs documents. An official within the ECA said …

Daily News Egypt

China’s inflation slows to 29-month low

Beijing (AFP) — China’s inflation slowed in June to its lowest level in 29 months, official data showed Monday, giving the government more flexibility in its efforts to reboot the world’s second-biggest economy. The country’s consumer price index (CPI) rose by 2.2 percent year-on-year in June, the National Bureau of Statistics said, down from 3.0 …

Daily News Egypt

Is North Korea losing China?

By Christopher R. Hill DENVER: For most countries, the spectacular failure of a rocket launch would mean a return to the drawing board, or at least some introspection aimed at figuring out what went wrong. But that does not appear to be the case in North Korea, where the flubbed launch of its long-range Unha-3 …


The future of China’s growth

By Justin Yifu Lin BEIJING: The slowdown of China’s economy has captured the headlines in recent weeks. Whether it is a permanent or temporary adjustment, the Chinese authorities have much work to do in laying the groundwork for strong economic performance in the medium and long term. Despite extraordinary growth since the start of its transition …


China sending envoy on Syria to Saudi Arabia, Egypt, France

By AFP BEIJING: China said Friday it is sending an envoy to Saudi Arabia, Egypt and France to explain its position on Syria, after Beijing called for an end to the year-long conflict in the Middle East country. China unveiled a six-point peace plan last Sunday, calling for an immediate end to the bloody violence …


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