China housing bubble creates concrete ghost cities June 16, 2014 China’s growth is well documented and its property market the topic of much conjecture. There is nothing like a stark statistic to put this into context: according to Bill Gates’s article in Quartz, China has used more concrete in the last three years than the US did in the 20th century. There are just 7,758,818 [...]
Concrete data on China’s construction bubble June 16, 2014 China's growth is well documented and its property market the topic of much conjecture. There is nothing like a stark statistic to put this into context: according to Bill Gates's article in Quartz, China has used more concrete in the last three years than the US did in the 20th century. There are just 7,758,818 [...]
Asian shares fall as Iraq conflict escalates June 16, 2014 Asian shares are down on the back of fears the escalating conflict in Iraq could disrupt oil supplies. On Sunday, the Islamic State of Iraq and Syria captured the city of Tal Afar and claimed to have killed 1,700 government troops over the weekend. The US has boosted security at its embassy in Baghdad and [...]
Mittal launches steel venture in growing Chinese auto market June 16, 2014 THE WORLD’S largest steel firm, ArcelorMittal, yesterday launched its joint Chinese venture to produce steel for use in car manufacturing. The group has opened a plant in Loudi, Western China, in combination with Hunan Valin Steel. ArcelorMittal says that the enterprise will be able to assemble 1.5m tonnes of steel per year. Though China is [...]
City Matters: How London is leading the way as a European centre for renminbi trade June 16, 2014 LONDON’S goal of becoming the leading Western offshore renminbi centre is expected to take a significant step forward this week, when a Chinese clearing bank is appointed in London. As the chancellor noted in his recent Mansion House speech, the capital has held a strong and growing position in renminbi trading since the City of [...]
London Report: Iraq fighting pushes up price of oil and lifts energy stocks June 12, 2014 ENERGY companies kept the FTSE out of the red yesterday, as oil prices were lifted by violence in Iraq. But the market was treading water as heavyweight mining stocks dropped sharply after worries about declining Chinese demand sent copper prices to a one-month low. The FTSE 100 ended up 4.24 points, or 0.1 per cent, [...]
Chinese insurer in talks to buy Canary Wharf tower for £780m June 11, 2014 A state-back Chinese insurance firm is thought to be in advanced talks to purchase law firm Clifford Chance’s headquarters in Canary Wharf for £780m. China Life, China’s largest life insurer, is understood to have been on the hunt for trophy assets to buy in London, providing further evidence of mounting interest from Chinese investors in [...]
IEA says Chinese gas demand set to double in next five years June 10, 2014 CHINESE demand for gas was set to almost double over the next five years, offsetting a slowdown in growth in other parts of the world, said the International Energy Agency today. Air quality concerns were pushing the Chinese government to reduce pollution, with gas emerging as a key part of the solution, said the independent [...]
Bitcoin businesses welcomed in the Isle of Man June 10, 2014 Digital currencies have received a ringing endorsement from the government of the Isle of Man. The crown dependency has announced it will be taking specific measures to protect businesses and customers utilising digital currencies, such as Bitcoin. “Our stance is intended to welcome those who can meet the necessary standards while also preserving the Island’s good [...]
Bitcoin receives red carpet welcome in the Isle of Man June 10, 2014 Digital currencies have received a ringing endorsement from the government of the Isle of Man. The crown dependency has announced it will be taking specific measures to protect businesses and customers utilising digital currencies, such as Bitcoin. "Our stance is intended to welcome those who can meet the necessary standards while also preserving the Island’s good [...]