Wednesday, May 22, 2013
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For foreigners who are new to a country, the visa center is the first aspect of the country they experience. Like all consular functions, it’s a projection of the country’s image and organization. Almost all the indicators that are used to measure a country’s development are tangible here. Efficiency, order, policy sensitivity, and the transparency and predictability of procedures are all crystal clear.

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Posted in: View Points
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New arrival
embers of the media take photos and shoot video at the unveiling of Microsoft Corp’s first new Xbox in almost eight years in Redmond, Washington, US, on Tuesday.

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Posted in: Business
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Sony Corp cut its sales targets for digital cameras, smartphones and tablets by 13-17 percent for the year to end-March 2015, but said there were “encouraging” signs of a revival in its electronics business.

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Posted in: Companies
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World No.1 platinum producer Anglo American Platinum (Amplats) may cut fewer than the 6,000 jobs announced earlier after talks with the South African government and unions, it announced Wednesday.

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Posted in: Companies
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AirAsia, Asia’s largest low-cost carrier by fleet size, said Wednesday that first-quarter net profit fell 39 percent year-on-year due to a foreign exchange loss on borrowings.

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Staples Inc reported a lower-than-expected quarterly profit on Wednesday, hurt by a stronger dollar and weak sales in Europe and Australia.

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Target Corp posted a 0.6 percent decline in first-quarter sales at US stores open at least a year on Wednesday after warning investors one month ago that its results would be disappointing as a chilly start to spring kept shoppers from buying seasonal items such as clothing.

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Posted in: Companies
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Liu Yonghao taps his daughter to take over
Liu Yonghao, founder of China’s leading agribusiness conglomerate New Hope Liuhe Co, Wednesday announced he would retire as the company’s chairman. His 33-year-old daughter Liu Chang will take over and serve as co-chairman of the company.

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Posted in: Companies
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The total value of Chinese companies’ outbound merger and acquisition (M&A) deals amounted to $65.2 billion last year, up 53.8 percent year-on-year, according to a report released Wednesday by PricewaterhouseCoopers (PwC).

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Posted in: Economy
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The Chinese yuan reached a peak of 6.1904 against the US dollar Wednesday, the highest level since the exchange rate reform program began in 2005, and beyond economists’ expectations.

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Posted in: Economy
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A 10-year-old Tesco store in Shanghai will be closed in the end of May, the UK retailer Tesco Group announced Wednesday, shortly after rival Wal-Mart Stores Inc shut down three superstores in the Chinese mainland in April.

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Chinese consumer confidence index remained unchanged in the first quarter of 2013 from the previous quarter and 15 points higher than the global average, a survey showed Wednesday.

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Posted in: Economy
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China’s State-owned enterprises (SOEs) saw their total profit growth slow to 5.3 percent year-on-year in the first four months, according to official data released Wednesday.

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Posted in: Economy
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Chinese mining services company Sino Australia Oil and Gas Ltd is planning an IPO in Australia in July, tapping international investors while domestic markets remain frozen.

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The National Development and Reform Commission (NDRC), the nation’s top economic planning agency, announced Wednesday plans to further cut prices for electricity used during the production and circulation of farm produce, in a bid to help stabilize farm produce prices.

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Posted in: Industries
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China’s homegrown 4G TD-LTE technology is likely to be named by the government as the only choice for the country’s three telecom carriers, which have been preparing for China to enter the 4G era.

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Posted in: Industries
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Washington alienated by Tokyo rightists
A bigger shock came as a result of Park’s address to the US Congress. She criticized the attitudes of the current Japanese government to historical issues, without naming names, saying that if Japan doesn’t adopt a “correct” attitude toward history, it would not have a bright future.

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Prices for pigs has bounced back following the government’s subsidized initiatives, the NDRC, the nation’s top economic planning agency, said Wednesday.

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Subsidy boost expected
A salesperson stands by a counter at a shopping mall in Shanghai. The government is likely to add laptops, photocopiers and printers to the list of subsidized product items that meet a certain level of energy-saving requirements, the Beijing News reported Wednesday, citing Vice Minister of Industry and Information Technology Su Bo. In September 2012, desktop computers were added to the list, with the government offering 260 yuan ($42.35) in subsidies for people purchasing energy-saving desktops. Photo: IC

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We do not sow
Farmers operate a reaper to harvest wheat in a field in Wuhu, East China’s Anhui Province on Wednesday. The central government has allocated a total of 700 million yuan ($114.03 million) to promote dry farming techniques across seven provincial-level regions, the Ministry of Finance announced earlier in May, helping stoke farmers’ enthusiasm for grain production. Photo: IC

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Posted in: China, Business
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