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  • China cuts import tax on clothes, other goods Monday, 25 May 2015 | 6:07 AM ET

    BEIJING— China announced Monday it will cut import taxes on clothing, cosmetics and some other goods by half in a new tactic to spur consumer spending and economic growth. Beijing is in the midst of a marathon effort to reduce reliance on trade and investment to drive economic growth by nurturing domestic consumption. Tariff cuts due to take effect June 1 will be "...

  • SHANGHAI, May 25- China will slash import tariffs on consumer goods including skincare products, Western-style clothes and diapers from June, potentially giving a fillip to global brands and bolstering domestic consumption amid faltering economic growth. China retail sales rose 10 percent last month, but eased from March as data showed that China's economy...

  • HONG KONG— Chinese stocks hit a seven-year high as investors pinned their hopes on further economic stimulus while most other world markets were subdued Friday ahead of a speech by Federal Reserve chair Janet Yellen. Britain's FTSE 100 gained 0.3 percent to 7,033.44. CHINA RALLY: Investors who weren't allocated shares in recent initial public offerings are...

  • MOSCOW, May 21- The International Monetary Fund sees the Russian economy shrinking by 3.4 percent in 2015, a smaller contraction than previously forecast, but said the country's public finances faced big longer-term challenges because of low oil prices. Russia's economy was tipped into crisis last summer when an existing slowdown was compounded by a sharp...

  • *PMIs point to 0.4 pct euro zone growth in Q2- Markit. LONDON/ NEW YORK, May 21- U.S. and euro zone business growth slowed in May while China's factory sector contracted again, reinforcing the need for major central banks to continue supporting economic growth. Growth in euro zone business activity also weakened in May, just two months after the European Central Bank...

  • IMF upgrades Russia growth outlook Thursday, 21 May 2015 | 10:31 AM ET

    MOSCOW— The International Monetary Fund predicts a less severe recession for Russia and says the country's economy will return to growth in a "mild recovery" next year. Following a recent staff visit to Russia, the IMF says in a statement that it now predicts a 3.4 percent contraction in GDP this year and says "growth should resume" in 2016.. On Thursday, the IMF did not...

  • NEW DELHI, May 21- India's central bank is working to liberalize its foreign exchange rules to make it easier to do business with Asia's third-largest economy, Deputy Governor H.R. Khan said on Thursday, a step that could support flagging exports. "We have got a positive response from the RBI and it could soon issue directions to banks," said S.C. Ralhan, president of...

  • TOKYO— Vying to keep pace with China's rising influence and economic clout, Japan plans to provide $110 billion to help develop roads, ports and other infrastructure in Asia in the next five years, Prime Minister Shinzo Abe said Thursday. "Asia has a voracious infrastructure demand, reaching as much as 100 trillion yen annually," Abe said, adding that "we should seek'...

  • Kyrgyzstan ratifies joining Russia-led trade bloc Thursday, 21 May 2015 | 6:40 AM ET

    BISHKEK, Kyrgyzstan— The Central Asian country of Kyrgyzstan has ratified a measure to join the Eurasian Economic Union, a Russia- led trade bloc. The country's entry must then be approved by the parliaments of the other members— Russia, Kazakhstan, Armenia and Belarus. Russia pushed hard for Ukraine to join the bloc, but opponents saw it as an attempt by Moscow to...

  • *PMIs point to 0.4 pct euro zone growth in Q2- Markit. *No signs of a Q2 pickup in Asia- HSBC. LONDON/ SYDNEY, May 21- Euro zone business growth was weaker than expected this month and factory activity in Asia's top two economies remained stuck in low gear, putting the onus squarely on the United States to drive a pick-up in global growth.

  • ULAN BATOR, May 21- Cash-strapped Mongolia's deal to expand the $6.5 billion Oyu Tolgoi mine is a big step towards stabilising its economy, but as it waits for the investment boost to feed through it is leaning on once-feared China to help shore up its finances. China helped Mongolia's central bank stave off economic collapse with a currency swap agreement to...

  • HONG KONG— Manufacturing in China shrank for the third straight month in May as demand remained soft, raising the chances of more stimulus to prop up growth in the world's No. 2 economy. Softer domestic and overseas demand and factory job cuts indicate that China's outsize manufacturing industry, which employs many millions of people, "may find it difficult to...

  • *Shanghai stocks focus on potential positives of weak China PMI. LONDON, May 21- World shares hovered near record highs on Thursday after downbeat Chinese manufacturing data put pressure on Beijing for more stimulus and the Federal Reserve signalled an increase in U.S. interest rates is still some way off. Top euro zone leaders will meet later in Latvia, where...

  • UPDATE 1-Hangzhou shows the way to China's new economy Thursday, 21 May 2015 | 2:17 AM ET

    *Zhejiang capital Hangzhou a high-tech and software sector. *Hangzhou is home to Alibaba, taxi app Kuaidi Dache. HANGZHOU, China, May 21- Signs that China's reforms may be paying off have sprung up in the eastern coastal city of Hangzhou, where a booming high-tech and software sector has fired up the local economy in defiance of a nationwide slowdown.

  • World stocks uneven after Chinese, eurozone data Thursday, 21 May 2015 | 1:53 AM ET

    TOKYO— World stock markets were lackluster Thursday after China's economy showed new signs of weakness but the Shanghai benchmark surged on hopes for more government stimulus. France's CAC 40 shed 0.4 percent to 5,112.55 and Germany's DAX dropped 0.6 percent to 11,774.01. Britain's FTSE 100 was little changed at 7,006.80.

  • *China factory activity contracts for third straight month in May. *No signs of a Q2 pickup in Asia- HSBC. The lacklustre performance in China and Japan, along with alarmingly weak export data from South Korea and Taiwan, put the burden of supporting global growth squarely on Europe and particularly the United States, which is struggling to get back on track after a...

  • *HSBC flash PMI signals persistent weakness in economy. The poor reading, which followed a raft of downbeat April data, reinforced analysts' views that Beijing has to take bolder steps to combat a protracted slowdown, as growth threatens to drop below 7 percent for the first time since the global financial crisis. The preliminary HSBC/ Markit Purchasing Managers'...

  • SINGAPORE, May 21- London copper futures edged higher on Thursday, bouncing off the previous session's three-week low after another soft Chinese manufacturing report suggested Beijing may have to do more to stimulate the world's No. 2 economy. Three-month copper on the London Metal Exchange was up half a percent at $6,253.50 a tonne by 0219 GMT, after touching...

  • Hangzhou shows the way to China's new economy Wednesday, 20 May 2015 | 5:00 PM ET

    *Zhejiang capital Hangzhou a high-tech and software sector. *Hangzhou is home to Alibaba, taxi app Kuaidi Dache. HANGZHOU, China, May 21- Signs that China's reforms may be paying off have sprung up in the eastern coastal city of Hangzhou, where a booming high-tech and software sector has fired up the local economy in defiance of a nationwide slowdown.

  • ULAN BATOR, May 21- Cash-strapped Mongolia's deal to expand the $6.5 billion Oyu Tolgoi mine is a big step towards stabilising its economy, but as it waits for the investment boost to feed through it is leaning on once-feared China to help shore up its finances. China helped Mongolia's central bank stave off economic collapse with a currency swap agreement to...