Obama proposes domestic spending freeze over 5 years

January 26, 2011 1:00 pm· Comments Off on Obama proposes domestic spending freeze over 5 years 

WASHINGTON, Jan. 26 — In his State of the Union address Tuesday night, U.S. President Barack Obama proposed annual domestic spending freeze for the next five years, which he said would reduce the deficit by more than 400 billion U.S. dollars over the next decade.

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Obama urges more efforts for economic growth in State of Union address

January 26, 2011 1:00 pm· Comments Off on Obama urges more efforts for economic growth in State of Union address 

WASHINGTON, Jan. 26 — More efforts were needed in the United States to spur job creation and bolster a sustained economic growth despite nascent recovery signs, as the world's largest economy was competing with other countries in a changing world, U.S. President Barack Obama said in his State of the Union address on Tuesday night.

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S. Korea's economic growth posts 8-year high in 2010

January 26, 2011 1:00 pm· Comments Off on S. Korea's economic growth posts 8-year high in 2010 

SEOUL, Jan. 26 — South Korea's economy posted an annual growth rate of 6.1 percent in 2010, an eight-year record high, the central bank said Wednesday.

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Cuba produces 4M tons of oil in 2010: official

January 26, 2011 1:00 pm· Comments Off on Cuba produces 4M tons of oil in 2010: official 

HAVANA, Jan. 25 — Cuba produced about four million tons of oil in 2010, similar to the year 2009, raking in 1.4 billion U.S. dollars in revenues, an industry official said on Tuesday.

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Medvedev says no more hydrocarbons-driven economic growth for Russia

January 26, 2011 1:00 pm· Comments Off on Medvedev says no more hydrocarbons-driven economic growth for Russia 

MOSCOW, Jan. 26 — Russia's economy cannot grow solely on the vast reserves of oil and natural gas it has, President Dmitry Medvedev said.

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China's yuan advances to 6.5878 per USD Wednesday

January 26, 2011 1:00 pm· Comments Off on China's yuan advances to 6.5878 per USD Wednesday 

BEIJING, Jan. 26 — The central parity rate of yuan, the Chinese currency, Wednesday gained three points to 6.5878 against the U.S. dollar, according to the China Foreign Exchange Trading System.

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(LEAD) LG Electronics logs record loss in 2010

January 26, 2011 1:00 pm· Comments Off on (LEAD) LG Electronics logs record loss in 2010 

By Lee Youkyung

SEOUL, Jan. 26 — LG Electronics Inc., the world's No. 3 mobile phone maker, said Wednesday that it posted a record loss in 2010, hurt by its belated entry into the lucrative smartphone market and weak global demand for televisions.

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China stock index futures open mixed Wednesday

January 26, 2011 1:00 pm· Comments Off on China stock index futures open mixed Wednesday 

BEIJING, Jan. 26 — China's stock index futures opened mixed Wednesday. The contract for settlement in February 2011, the most actively traded, opened 6 points higher at 2,955.4.

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Business leaders rank China as No. 1 for future growth

January 26, 2011 1:00 pm· Comments Off on Business leaders rank China as No. 1 for future growth 

DAVOS, Switzerland, Jan. 26 — Business leaders considered China as the most important country for future economic growth, a survey showed on Tuesday.

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CEOs in Asia Pacific confident Of growth, says PwC

January 26, 2011 1:00 pm· Comments Off on CEOs in Asia Pacific confident Of growth, says PwC 

KUALA LUMPUR, Jan 26 — Two years after the financial meltdown, 54 per cent of Chief Executive Officers (CEOs) in the Asia Pacific are very confident of growth in the next 12 months, says PricewaterhouseCoopers (PwC)in its 14th Annual Global CEO survey.

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