China, as part of a wider drive into progressive industries to boost its GDP growth, plans to combine over 40 entities to work on the giant $22 billion plane-engine project. Under the plan, the government of China along with companies like Aviation Industry Corp. would invest 35 billion yuan.
Tags: China economy
US oil explorers anticipated to report a loss of $14 billion
US oil explorers are expected to report a combined loss of about $14 billion for the year 2015, as a result of the sharpest oil price slump in a generation. Bankruptcies and disappointing debt exchanges have led the oil explorers to cut thousands of staffs, trim dividends, and abandon drilling projects to preserve capital and resist insolvency.
IMF Slashes Global Forecast Due to China Economy Slowdown
The decreasing of China’s economic growth to the lowest rate in the last of 25 years has influenced the world’s economy. It made the International Monetary Fund slashed its global growth forecast for the third time in less than a year.
Business experts doubtful regarding future profits and sales
Business economists seem to be more doubtful regarding their companies' future profits and sales. According to a survey, these economists expect slower GDP growth.
Overseas central banks are Fed's partner to accomplish rates
The Federal Reserve Bank have found a new partner in its struggle to confirm interest rate increase screens through the US economy. The trend of Fed borrowing billions daily to set a base under its standard policy rate has been conquered by foreign monetary authorities, Bloomberg said.
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Chevron said that its subsidiaries in Australia have entered into a non-binding Heads of Agreement with ENN LNG Trading Co. Ltd to sell liquefied natural gas to China. The delivery of LNG will be commenced in the first six-month of 2019, according to the company.
China is set to report its weakest full-year growth figure in 25 years. The official GDP data will be published by China’s National Bereau of Statistics on Tuesday.
UK-based Oil giant BP Plc plans to trim 4,000 jobs in its crude-oil production unit as crude oil price slump.
Record high employment rate and domestic spending propelled German GDP rate by 1.7 percent in 2015, according to the German authorities' calculation.
Japan’s Mitsubishi UFJ Financial Group is said to have agreed to buy a 20 percent stock in Philippines' lender Security Bank Corp for $773 million (36.9 billion pesos), as an effort to strengthen its growth in Southeast Asia.
On Wednesday, China revealed its export in December 2015 showed a 2.3% raise from November. Data from China's General Administration of Customs shows the nation's trade surplus, and the report has lifted the market a bit.
China is undergoing a range of economic difficulties that has slowed the entire country's economy. From fixing the falling currency value to getting more people to spend, here are some possible solutions.
China's slowdown has caused negative effects in businesses and countries around the world that financially depend on a large chunk of business with the Asian country. China must transition into a consumer drive economy in order to grow in the future, but the steps necessary to do so are complicating their international partnerships.
Oil prices plunge to the lowest level in more than a decade to below $33. The economic slowdown of China is also stammering global economy outlook even more.
