Thursday 31 July 2014
 
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China probes 581 firms as food scare spreads

China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.

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China's oil imports from Iran rise 50pc

China's crude imports from Iran in the first half of the year were up nearly 50 per cent, although shipments in June dropped nearly a third from May to the lowest level in four months. &nb

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BRICS set up $100bn development bank

Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system. The b

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Alba takes part in China aluminium expo

Aluminium Bahrain (Alba) showcased its products at Aluminium China 2014, which provided an ideal platform to promote the company globally, expand its customer base across Asia and position Bahrain as an attractive economic destination for inte

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China PE firm buys Pizza Express for $1.6bn

Chinese private equity firm Hony Capital has struck a deal with Gondola Group to buy Britain's Pizza Express chain for about GBP900 million ($1.6 billion), the companies said on Saturday. Hony's interest comes two months a

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ME crude cargoes see shift from Western markets to Asia

The ripple effects of the North American energy boom from major importer to soon-to-be exporter are being felt across the Middle East, Russia and China.  This trend will result in new sources of supply, increase competition, reshape the glo

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China nod for $2.3bn IBM-Lenovo deal

The Chinese Ministry of Commerce's anti-monopoly bureau has approved Lenovo Group's proposed $2.3 billion deal to buy IBM Corp's low-end server business. The deal, announced in January, is expected to be completed by t

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Global bank profits surge to record $920bn

China's top banks accounted for almost one-third of a record $920 billion of profits made by the world's top 1,000 banks last year, showing their rise in power since the financial crisis, a survey showed on Monday. China&#

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Gold climbs towards 2-month high on softer dollar

Gold climbed towards a two-month high on Friday and looked set to post its fourth straight weekly gain, as weak U. data on consumer spending hurt the dollar. US consumer spending rose less than expected in May, prompting economists to d

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Acer announces EMEA management change

Acer has appointed Luca Rossi as the president for Europe, Middle East and Africa (EMEA) operations.   The current EMEA president Oliver Ahrens is set to take over a new challenge as president of the newly formed

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