Crude oil prices were seen trading lower on the last day of the trading week while oil traders express their worries over oil demand from China as reports revealed a contraction in China’s manufacturing sector.
Tuesday, February 04, 2014
Australian Dollar Strengthens Ahead RBA Rate Decision
The Australian dollar rose against the greenback on Monday, before members of the Reserve Bank of Australia’s (RBA) board assemble on
WTI Crude Prices Declines on Concerns Over China Demand
Prices for West Texas Intermediate (WTI) crude oil dropped for a second day on the first day of the trading week, as investors express their worries over the oil demand from China and the slow growth in the world’s second-largest oil consumer due to the weak manufacturing data.
Another H7N9 death in E China
One new human H7N9 case has been found in east China's Jiangsu Province, the provincial health department confirmed on Tuesday.
Forest fire breaks out in SW China
A forest fire broke out on Fenghuang Mountain, Jinning County in southwest China's Yunnan Province at around 11:30 a.m. Tuesday, local authorities said.
The cause of the fire is unknown. Over 300 people are working to put the fire out.
The cause of the fire is unknown. Over 300 people are working to put the fire out.
To change the child for the better, change the parent
Where Are We Going, Dad is the hottest reality show to hit China television recently, and its attraction speaks of the growing awareness of the father's role in raising a child.
Australian Reserve Bank keeps rate on hold at 2.5 pct
The Reserve Bank of Australia announced on Tuesday it had decided to leave the cash rate unchanged at 2.5 percent.
Spanish Royal Household reduces 2014 budget
The Spanish royal family have reduced their annual budget by 2 percent this year, according to details made public Monday.
British ambassador urges Japan to admit historical wrongs: report
British ambassador to Japan Tim Hitchens urged the country to admit historical mistakes and create better environment for improving ties with neighboring countries, local media reported on Monday.
New Zealand offers home to Syria's most desperate refugees
Up to 100 refugees in need of urgent protection in Syria will be resettled in New Zealand, the New Zealand government announced Tuesday.
Australia to face Lithuania in Group D of 2014 FIBA Basketball World Cup
The Australian men's national basketball team, known as the Boomers, will face European powerhouse Lithuania after being drawn in Group D in the 2014 FIBA Basketball World Cup Official Draw in Spain's Barcelona on Tuesday morning, Basketball Australia confirmed.
Yellen takes oath as Fed Chair
Janet Yellen on Monday took the oath of office to lead the U.S. Federal Reserve System, becoming the first woman to sit on the post in history.
Australian Reserve Bank keeps rate on hold at 2.5 pct
The Reserve Bank of Australia announced on Tuesday it had decided to leave the cash rate unchanged at 2.5 percent.
Chinese Lunar New Year celebrations held in London
February 2nd was the first Sunday of the Year of the Horse - and as usual, London put on a big celebration to mark the Chinese New Year. The activity attracted 500,000 residents and tourists, drumming up a festive atmosphere across the British capital.
Truck overturns, injuring 86 in eastern Cambodia: police
Some 86 garment workers got injured when a truck carrying them overturned on Tuesday morning in Cambodia's eastern Svay Rieng province, a police chief confirmed.
Asian log demand starving New Zealand industry: timber federation
New Zealand's timber industry is being driven out of business by log exporters seeking to meet demand in China and other Asian markets, the New Zealand Timber Industry Federation warned Tuesday.
Since 2008, log exports had increased by 240 percent and international forestry commentators were saying the level of demand for logs in China, which accounted for 70 percent of New Zealand's log trade, would continue for the foreseeable future, said a statement from the federation.
Many federation members were frequently experiencing downtime and production losses because they were unable to buy logs or log supply was stopped.
"New Zealand sawmills are often paying top international rates for logs, so price is not an issue. It simply appears that some forest owners value their international customers more highly than domestic processors."
An estimated 3,000 jobs had been lost in the New Zealand wood processing sector since 2008 and more companies would close if the situation continued.
"This could lead to a shortage of product for the domestic market requiring timber to be imported into New Zealand," it said.
"We believe there has to be a serious discussion at government level about the on-going situation with log supply to the domestic wood processing industry," opposition Green Party forestry spokesperson Steffan Browning said in a statement.
"We also need to ensure that exporters of raw logs are paying its full environmental and social costs, including urgent methyl bromide recapture for log fumigations. When those costs are borne by raw log exporters, the balance will tip more in favor of processing and manufacturing wood products here, rather than sending unprocessed logs overseas."
Since 2008, log exports had increased by 240 percent and international forestry commentators were saying the level of demand for logs in China, which accounted for 70 percent of New Zealand's log trade, would continue for the foreseeable future, said a statement from the federation.
Many federation members were frequently experiencing downtime and production losses because they were unable to buy logs or log supply was stopped.
"New Zealand sawmills are often paying top international rates for logs, so price is not an issue. It simply appears that some forest owners value their international customers more highly than domestic processors."
An estimated 3,000 jobs had been lost in the New Zealand wood processing sector since 2008 and more companies would close if the situation continued.
"This could lead to a shortage of product for the domestic market requiring timber to be imported into New Zealand," it said.
"We believe there has to be a serious discussion at government level about the on-going situation with log supply to the domestic wood processing industry," opposition Green Party forestry spokesperson Steffan Browning said in a statement.
"We also need to ensure that exporters of raw logs are paying its full environmental and social costs, including urgent methyl bromide recapture for log fumigations. When those costs are borne by raw log exporters, the balance will tip more in favor of processing and manufacturing wood products here, rather than sending unprocessed logs overseas."
Philippine infrastructure spending up 20.5 pct in January-November
The Philippine government's infrastructure spending rose by 20.5 percent on year to 223.3 billion pesos (4.91 billion U.S. dollars) from January to November 2013, the Department of Budget and Management (DBM) said Tuesday.
SW China spree killer's gun found
One day after a man alleged to be the New Year's Eve spree killer of six was captured in southwest China's Yunnan Province, the gun and 40 bullets have been found.
New Zealand military branches out as global equipment provider
The Last Post the iconic bugle call still heard in parts of the former British Empire to commemorate the military dead might soon be telling navy divers around the world that they've just failed an exercise in seabed mine training.
Two killed, one wounded in Moscow school shooting
A teacher and a policeman were killed and one more policeman injured when a teenage gunman opened fire in a Moscow public school, the Interior Ministry said Monday.
U.S. cyber commander visits S. Korea to discuss response to DPRK threats
The chief of the U.S. Cyber Command visited South Korea Monday to discuss ways on how to tackle possible cyber threats from the Democratic People's Republic of Korea (DPRK), Seoul's Defense Ministry said Tuesday.
Convoy of journalists bombed in S. Philippines
Suspected members of the rogue group Bangsamoro Islamic Freedom Fighters (BIFF) attacked a convoy carrying television journalists on Tuesday afternoon in southern Philippines.
Mandela leaves 4 mln USD estate
The details of the final will and testament of Nelson Mandela have been made public. A 40-page summary of the late former South African president's will was released at the Nelson Mandela Center of Memory in Johannesburg. It states that his estate is worth an estimated 4 million US dollars, excluding the assets in three Mandela Trusts.
One dead in Chinese tour group crash in New Zealand: reports
A least one person is dead and three are badly injured after a van carrying 10 Chinese tourists plunged into a river in the far south of New Zealand's South Island, according to reports Tuesday.
Sri Lanka slams critics at independence celebrations
Sri Lanka on Tuesday slammed critics accusing the country of committing human rights abuses as the island nation celebrated 66 years of independence from British rule.
Australia to face Lithuania in Group D of Basketball World Cup
The Australian men's national basketball team, known as the Boomers, will face European powerhouse Lithuania after being drawn in Group D in the 2014 FIBA Basketball World Cup Official Draw in Spain's Barcelona on Tuesday morning.
Victims of Mount Sinabung eruption remain optimistic about their future
The eruption of Mount Sinabung in the western island of Sumatra that started in September last year has already killed 15 people and forced the evacuation of more than 30,000 local villagers within a 5- kilometer exclusion zone around the volcano's crater.
Arms, ammunitions discovered in northern Afghan town
Police raided a house in the northern Takhar province and discovered huge quantity of arms and ammunitions on Tuesday, police spokesman in the province, Abdul Khalil Asir said.
Nikkei plunges more than 600 points
Tokyo stocks tumbled on Tuesday, with the Nikkei index ending 610.66 points lower.
Seoul shares end lower
Seoul shares ended lower on Tuesday with the benchmark Korea Composite Stock Price Index (KOSPI) plunging 33.11 points, or 1.72 percent, to close at 1,886.85.
Trading volume stood at 246.73 million shares worth 4.43 trillion won (4.1 billion U.S. dollars).
Trading volume stood at 246.73 million shares worth 4.43 trillion won (4.1 billion U.S. dollars).
Sharp raises operating profit forecast to nearly 1000 million dollars for fiscal 2013
Japan's Sharp Corp. on Tuesday raised its operating profit forecast to 100 billion yen (about 987.9 million U.S. dollars) from an earlier projection of 80 billion yen for the fiscal year to March, local media reported.
S. Korea to support working moms to raise employment rate
South Korea planned to support working mothers through diverse programs devised in accordance with women's life cycle as part of efforts to raise hiring rate to 70 percent, the women's ministry said Tuesday.
Careers with YouTube and Google through Jobcentre Plus
Young people have got their foot on the career ladder with YouTube, Disney and Google through working with their local Jobcentre Plus (JCP) adviser, Minister for Employment Esther McVey announced today (4 February 2014).
Human Rights and Democracy Fund in Malaysia: Call for Bids
Human Rights and Democracy Programme
The Human Rights and Democracy Programme (HRDP) is the FCO’s dedicated fund
The Human Rights and Democracy Programme (HRDP) is the FCO’s dedicated fund
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