US budget deficit rose in December

WASHINGTON, Rabi’II 03, 1437, January 13, 2016, SPA — The federal budget deficit increased in December and for the third month is running ahead of last year’s pace, according to AP.
The Treasury Department says the deficit totaled $14.4 billion in December. That compares to a small surplus of $1.9 billion in December 2014.
For the first three months of this budget year, the deficit stood at $215.5 billion, an increase of 22 percent over the same period a year ago.
For the entire year, private economists are forecasting a slight improvement from last year’s deficit of $438.9 billion. Continued gains in employment are expected to boost federal tax receipts.
22:18 LOCAL TIME 19:18 GMT

المعرض التجاري الدولي للبناء والديكور يأتي إلى شنغهاي في مارس 2016

شنغهاي، 13 كانون الثاني/يناير، 2016 / بي آر نيوزواير — سيتم عقد المعرض التجاري الدولي للبناء والديكور (شنغهاي) في الفترة بين 23-26، من آذار/مارس، 2016 في مركز المعارض والمؤتمرات الوطني في شنغهاي. الصورة: وسيقام المعرض التجاري الدولي للبناء والديكور شنغهاي على أرض تبلغ مساحتها 100,000 متر مربع ويشارك فيه أكثر من 600 عارض و40,000 […]

معرض الأثاث الصيني الدولي الـ 37 (غوانغجو) سيعقد في مركزينللمعارض هذا العام

غوانغجو، الصين، 13 كانون الثاني/يناير، 2016 / بي آر نيوزواير —  سيعود معرض الأثاث الصيني الدولي بقوة هذا العام. فقد أعلن المعرض الصيني الدولي للأثاث (غوانغجو) عن مركز بولي للتجارة الدولية والمعارض (بي دبليو تي سي إكسبو) مركزا ثانيا له بالإضافة إلى مجمع معرض الصادرات والواردات الصيني (باجو) لاستضافة المعرض في الفترة بين18-21 و28-31 من […]

XCMG Awarded with National Science and Technology Progress Award after Winning the Red Dot Award for Design Concept

XUZHOU, China, Jan. 13, 2016 /PRNewswire — XCMG has won a second prize at the 2015 National Science and Technology Progress Award hosted on January 8 in Beijing for the company’s key technology and application of mobile lifting and rigging equipment for large scale construction projects. The 2015 National Science and Technology Progress Award was […]

China holds line on yuan, stocks weaken again

SHANGHAI, Rabi’II 3, 1437, Jan 13, 2016, SPA — China’s central bank held the line on its yuan for a fourth straight session on Wednesday while putting the squeeze on offshore sellers of the currency, calming fears of a sustained depreciation – at least for now, Reuters reported.

Having been alarmed by a near 5 percent slide in the yuan since August, investors globally appeared relieved by the stabilisation.

Asian share markets outside China rose, and proxies for the yuan in currency markets, such as the Australian dollar, also firmed, while investors retreated from the safe-haven yen.

Chinese shares, however, ended the day sharply lower after a positive start, shrugging off December trade data, which beat forecasts and tempered some of the fears about the slowdown in the world’s second-largest economy.

The People’s Bank of China (PBOC) fixed the daily mid-point for the yuan at 6.5630 to the dollar, little changed from firm fixes on the previous two days. The market is allowed to deviate 2 percent either side of the daily fix.

By early evening the onshore spot rate had firmed to 6.5742 from the overnight close of 6.5756, and offshore the yuan was just a few pips away at 6.5736, also firmer.

The Shanghai Composite Index ended down 2.4 percent, dipping below the 3,000 mark, while the CSI300 index shed 1.9 percent.

The indexes have now lost around 16 percent so far in 2016.

15:34 LOCAL TIME 12:34 GMT

Eurozone industrial production sags in November

BRUSSELS , Rabi’II 03, 1437, January 13, 2016, SPA — Official figures show that industrial production across the 19-country eurozone fell sharply in November, a development that could weigh on the region’s economic growth during the final quarter of 2015, AP reported.
Eurostat, the EU’s statistics agency, says Wednesday that output declined by 0.7 percent during the month, more or less double market expectations. Unusually warm weather across many parts of the region was blamed for much of the decline as that weighed on energy demand.
However, an upward revision to the previous month to show a 0.8 percent increase helped assuage concerns.
More up-to-date surveys have suggested that the eurozone economy has been fairly buoyant at the turn of the year.
15:32 LOCAL TIME 12:32 GMT