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  • Can CityCenter Save Las Vegas? 19 Dec 2009 21:16 GMT
    ... or month." He may not, but the banks holding MGM's astronomical debt may think the ... on clubs, restaurants and hotels, talking to bankers about giving up their foundering nightlife assets ... and lay off thousands of workers in China amid the credit crisis. Adelson also says he ...

  • Abu Dhabi plans trade bank 19 Dec 2009 20:34 GMT
    ... / December 19. 2009 5:44PM GMT MENA, China, India, Singapore, Japan and Malaysia are among the ... stage but we have been talking to banks in the US and Asia about how we ...

  • Negotiator for World's 130 Most Impoverished States: Copenhagen Accord is Suicide Pact 19 Dec 2009 20:30 GMT
    ... states whose CO2 emissions are rising fast —China, Brazil, India, South Africa— the "accord" aims to ... a goal lusted after by major western banks, financial corporations, and polluters like the coal and ...

  • A phoenix amid the tea fields of Uji 19 Dec 2009 20:30 GMT
    ... river flow." In the 10th century, Fujiwara Michinaga, the Emperor's chief adviser, built a home ... residences of the nobility, conceived in the Chinese symmetrical style with a long, north-south central ... and the tea houses that line its banks. The journey into Uji's past begins at ...

  • Bankruptcy and Fiscal Collapse,Global Economic Crisis Tipping Point Forecast for Spring 2010 19 Dec 2009 18:53 GMT
    ... LEAP/E2020 believes that the global systemic crisis will ... on the « finger » of the Chinese proverb (8), whilst others really stretch to the ... Europe was going to lead the European banking system and the Euro into a major ...

  • Financial Crisis 2008-2009, The Seeds of the Credit Crunch Part 2 19 Dec 2009 18:50 GMT
    ... issue or fresh issue of shares. The banks themselves faced with increasing defaults and facing ... billion in August 2008. The countries like China and India who had set up large manufacturing ... reduce the demand for credit substantially. The bankers, after years, will be actually doing what ...

  • Financial Crisis 2008-2009, The Seeds of the Credit Crunch 19 Dec 2009 18:50 GMT
    ... Banks were flushed with funds at the cost of ... The banks too started marketing refinance of mortgages (to earn higher fees and commissions) at ... it manufactured in some developing country like China and sell them to the US citizens who ...

  • Goodbye to Stock Market Santa Rally? 19 Dec 2009 18:50 GMT
    ... New jobless claims unexpectedly rise. - The number of ... are withdrawing money from risk assets. -- Chinese stocks fell for a fourth day, the ... will divert funds from existing equities. The Shanghai Composite Index fell 65.19, or 2.1 percent, ...

  • GM to shut Saab as Spyker talks fail 19 Dec 2009 18:25 GMT
    ... cars and its primary backers include Russian banking tycoon Vladimir Antonov and his Convers Group. Smith ... luxury carmaker Koenigsegg, with the backing of China’s BAIC until November. ...

  • Some relief for victims of KaiEn English fiasco as ChinesePod CEO downplays Ken Carroll's role 19 Dec 2009 17:18 GMT
    ... day before KaiEn's unpaid staff were (KaiEn's Chinese partner), co-founder Ken Carroll's business partner and ... at the Kaien language schools here in Shanghai. It appears to be a very unfortunate ... that Ken Carroll and Steve Williams fled China because of the Kai En mess. Horkoff ...

  • General Motors to shut down Saab, talks with Spyker fail 19 Dec 2009 16:53 GMT
    ... and above. Its primary backers include Russian banking tycoon Vladimir Antonov and his Convers Group. ... luxury carmaker Koenigsegg, with the backing of China's BAIC until November. Earlier this week, BAIC ... second life with a new buyer as Chinese automakers gird for expansion overseas. "I have a ...

  • Asian stocks follow Wall Street lower 19 Dec 2009 16:21 GMT
    ... was darkened by new tightening measures from Beijing increasing the minimum down payment on land purchases. Shanghai plunged 2.05 percent on the regulatory push. ... to 21,175.88. Profit taking and concerns over China's tightening measures, particularly in the property sector, ...

  • Taiwan seen to enjoy 4.45% growth in 2010 19 Dec 2009 16:21 GMT
    ... have resulted in a drop in people's banking interest incomes, frustrating private consumption. The decline has ... economic recovery, Lin said. Subscribe to The China Post and save 25%. ...

  • UTStarcom Appoints Kenneth Luk Chief Financial Officer 19 Dec 2009 16:17 GMT
    ... have been conducting a search for a China based CFO and Kenneth's combination of financial and ... his career at The Hong Kong & Shanghai Banking Corporation Ltd. in 1977. Mr. Luk received ...

  • Don't Worry about Inflation in China 19 Dec 2009 15:50 GMT
    ... Trends in China’s Consumer Price Index (CPI) have raised investors’ ... about inflation and its implications for the Chinese economy’s prospects in 2010. In the event ... the incidence of nonperforming loans, as Chinese banks have expanded lending dramatically for the past ...


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Quote of the Day

"We don't want to be treated as a superpower or global leader, but on specific issues, such as international financial reform, China will choose to be more active next year and beyond."
— Chu Shulong, an international relations professor at Tsinghua University in Beijing

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Markets

Exchange Rates:

Chinese Renminbi:
USD 1 = CNY 6.8281
EUR 1 = CNY 9.7901

Hong Kong Dollar:
USD 1 = HKD 7.7580
EUR 1 = HKD 11.1235

Macau Pataca:
USD 1 = MOP 7.9901
EUR 1 = MOP 11.4562

Taiwan Dollar:
USD 1 = TWD 32.3710
EUR 1 = TWD 46.4139

USD 1 = EUR 0.6974
EUR 1 = USD 1.4338

Closing Stocks:
Shanghai A: 3,266.19(-2.05%)
Shenzhen A: 1,184.28(-3.50%)
Hang Seng: 21,175.88(-0.80%)
Taiwan Taiex: 7,753.63(0.15%)

Country Info About China

Visit the World Factbook for detailed information about China.
 

This Day in History

Dec. 19

British Prime Minister, Margaret Thatcher and Chinese counterpart, Zhao Ziyang signed an agreement for the return of Hong Kong to China in 1997.
What year was it?

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