Obama ordered the creation of an "export promotion cabinet" in an effort to promote U.S. exports yesterday

Obama ordered the creation of an "export promotion cabinet" in an effort to promote U.S. exports yesterday, Xinhua reported.

White Energy Company (ASX: WEC; OTCQX: WECFY) has inked a non-binding heads of agreement with state owned Guodian Inner Mongolian Energy Sources Co Limited to develop a coal upgrading facility in China.

Guodian is a part of the China Guodian Group, one of the leading integrated players in the Chinese coal mining and power generation sector with 70,250 MW of installed thermal power and a controllable coal resource of 15 billion tons with annual coal production of 25 million tonnes.

The group is one of the five largest power producers in China.

The Brazilian government has raised its projection for economic growth this year from 5.2 percent to more than 5.7 percent

Brazil will see a quick economic growth projected to 5.7 percent this year, Finance Minister Guido Mantega told a press conference on March 11, Xinhua reported.

U.S. Treasury Secretary Timothy Geithner has warned the EC over its proposal to tighten regulations on hedge funds through legislation

U.S. Treasury Secretary Timothy Geithner has warned the European Commission (EC) over its proposal to tighten regulations on hedge funds through legislation in a letter to the European Union (EU) official, a spokesman from EC confirmed the saying on March 11, Xinhuanet reported.

China's retail sales increased by 17.9 percent in January and February year on year, and totaled 2,505.2 billion yuan

China's retail sales increased by 17.9 percent in January and February over the same period last year, and totaled 2,505.2 billion yuan, the National Bureau of Statistics announced on Tuesday.

The increase was up 2.7 percent year on year and 2.4 percentage points higher than that of 2009.

China's CPI rose by 2.7 percent in Feb. from a year earlier；Official says the CPI will slow in Mar. as seasonal factors fade

China's consumer price index (CPI) rose by 2.7 percent in Feb. from a year earlier, up from January's 1.5 percent increase, the National Bureau of Statistics announced on Mar.11. Regarding that, bureau spokesman Sheng Laiyun said the rise in Feb. was partly attributable to structural and seasonal factors, especially to the Lunar New Year holiday.

JP Morgan has signed a memorandum of understanding with First Capital Securities Co., recently, planning to set up a securities joint venture in China in 2010.

Before JP Morgan, Goldman Sachs Group Inc., UBS AG and other investment banks have already been operating joint ventures in China.

Geely has secured financing to buy Ford-owned Volvo cars for about 2.10 billion U.S. dollars

Complied by Caijing staff

Zhejiang Geely Holding, the Chinese carmaker has obtained 2.1 billion U.S. dollars in financing and will conclude the deal with Ford to buy its Swedish unit Volvo at the end of Mar. It will be the largest purchase by a Chinese car firm if completed, according to Xinhua News Agency.

News, page 5, March 8, Issue 459
Translated by Tang Xiangyang
Original article: [Chinese]

News, Cover, Issue 459, March 8, 2010
Translated by Liu Peng
Original article: [Chinese]

Mexico Telecoms tycoon Carlos Slim Helu saw off Microsoft boss Bill Gates and investor Warren Buffett to claim the top spot of 2010 Forbes rich list; 107 Chinese make the list.

According to the annual rich list by Forbes released on Mar. 10 in New York- Bill Gated was knocked off the top spot and 64 rich men from mainland China have made it on the list, only second to Americans in total numbers.

Are There Advantages to Governor Zhou Xiaochuan's Dollar-Peg Exit?

China's Baosteel ranked the third in term of curde steel output;Hebei Iron & Steel Group jumped to the second place in 2009

Baosteel Group Corporation has announced recently that Baosteel ranked the third in the list of top 20 biggest steel producers in 2009, released by Steel Business Briefing (SBB); the crude steel output of Hebei Iron & Steel Group totaled 40 million tons, taking the second place among global steel producers, Xinhua reported on Mar.10.

European governments are set to establish a European Monetary Fund (EMF) to reduce economic instability in the eurozone

European governments are set to establish a European Monetary Fund (EMF), mirroring the International Monetary Fund, to reduce economic instability in the eurozone.

There are no connectios betwween recent earthquakes in Haiti, Chile and Japan, and the world's current seismic activity is at the average level,said seismologists

There is nothing unusual about the latest spate of earthquakes in Haiti, Chile or Japan, said seismologists from the United Kingdom when interviewed by Xinhua News Agency.