Fairchild Dornier, the German-American aircraft concern under trusteeship, appeared headed for the scrap heap after a bankruptcy trustee confirmed that a new investor could not be found to see its planned commuter aircraft through production. Xinjiang D'Long, a unit of the collapsed D'Long group, committed to buy the business but never paid for it.
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Despite persistent reports that Budweiser brand owner Anheuser-Busch could pay US$1 billion for a stake in Golden Star Beer Group, China's fifth ranked brewer, the US brewer said it had not had any discussions with the Henan-based company. In June, Anheuser-Busch, which owns 9.9% of top China brewer Tsingtao, beat shareholder SABMiller to take control […]
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IMF says move now on peg
The International Monetary Fund (IMF) said China should loosen its US dollar currency peg now while the economy is growing a fast as it is. IMF Asia Pacific analyst Eswar Prasad told a Washington panel that it's especially important to get it right in good times or bank reforms could be reversed in the rapid […]
The Bush administration is likely to give the go-ahead soon for the export of next-generation US-made nuclear reactors to China, a senior American official said. Nils Diaz, chairman of the US Nuclear Regulatory Commission told reporters the sale a first for US nuclear technology – would likely be approved within "the next couple of months"and […]
China's foreign exchange regulator denied allegations hat it manipulated the value of the yuan. In a commentary published in the state-run China Daily, Guo Shuqing, director of the State Administration of Foreign Exchange, denied manipulating the value of China's currency to give its exports an unfair advantage. The issue is a politically sensitive one with […]