AP STEAMING AHEAD: A truck runs at Yangshan deep-water port in Shanghai, China. China's exports rise in February is a new sign of growing global demand.
BEIJING: China's exports grew by 46 per cent in February, its biggest rise in three years, signalling a revival in global demand following months of steep declines as a result of the financial crisis.
China's exports, down by 16 per cent last year on account of falling demand from the West, have now grown for three straight months, the country's General Administration of Customs (GAC) said on Wednesday. While exports were up 46 per cent to $ 94.5 billion, imports also rose by 45 per cent, driven by rising oil demand on account of the government's continued stimulus spending on infrastructure projects.
Over the first two months of 2010, China's trade surplus has fallen by more than 50 per cent to $22 billion, the GAC said. Wednesday's data showed a revival in demand from the European Union and the United States, China's two biggest trade partners. Trade with the EU grew 35 per cent to $66 billion in the first two months of this year, while trade with U.S. was up 25 per cent to $49 billion. China's trade with India was up by 55 per cent to $9 billion, following a year which saw India's trade deficit with the country widen to a record $ 16 billion.
Trade between the two countries was down by 16 per cent last year from a record high of $52 billion in 2008, when China became India's largest trade partner. Indian exports to China, largely driven by iron ore, faced the brunt of the decline, down 32 per cent last year. But encouragingly for Indian exporters, China's imports from India were up 75 per cent in the first two months of this year, according to the GAC's figures. China's export revival is, however, likely to strengthen calls for Beijing to appreciate its yuan currency, which, some countries say, has been artificially kept low to support China's exporters. The yuan has been kept pegged at about 6.83 to the dollar since mid-2008. But Zhou Xiaochuan, the Governor of the People's Bank of China, said on Saturday the yuan would be kept “basically stable” in the coming year, and China would be “very cautious” about revaluing it.
Showing posts with label SONAM KUMARI GUTPA 2nd SEM. Show all posts
Showing posts with label SONAM KUMARI GUTPA 2nd SEM. Show all posts
Thursday, March 11, 2010
AP STEAMING AHEAD: A truck runs at Yangshan deep-water port in Shanghai, China. China's exports rise in February is a new sign of growing global demand.
BEIJING: China's exports grew by 46 per cent in February, its biggest rise in three years, signalling a revival in global demand following months of steep declines as a result of the financial crisis.
China's exports, down by 16 per cent last year on account of falling demand from the West, have now grown for three straight months, the country's General Administration of Customs (GAC) said on Wednesday. While exports were up 46 per cent to $ 94.5 billion, imports also rose by 45 per cent, driven by rising oil demand on account of the government's continued stimulus spending on infrastructure projects.
Over the first two months of 2010, China's trade surplus has fallen by more than 50 per cent to $22 billion, the GAC said. Wednesday's data showed a revival in demand from the European Union and the United States, China's two biggest trade partners. Trade with the EU grew 35 per cent to $66 billion in the first two months of this year, while trade with U.S. was up 25 per cent to $49 billion. China's trade with India was up by 55 per cent to $9 billion, following a year which saw India's trade deficit with the country widen to a record $ 16 billion.
Trade between the two countries was down by 16 per cent last year from a record high of $52 billion in 2008, when China became India's largest trade partner. Indian exports to China, largely driven by iron ore, faced the brunt of the decline, down 32 per cent last year. But encouragingly for Indian exporters, China's imports from India were up 75 per cent in the first two months of this year, according to the GAC's figures. China's export revival is, however, likely to strengthen calls for Beijing to appreciate its yuan currency, which, some countries say, has been artificially kept low to support China's exporters. The yuan has been kept pegged at about 6.83 to the dollar since mid-2008. But Zhou Xiaochuan, the Governor of the People's Bank of China, said on Saturday the yuan would be kept “basically stable” in the coming year, and China would be “very cautious” about revaluing it.
BEIJING: China's exports grew by 46 per cent in February, its biggest rise in three years, signalling a revival in global demand following months of steep declines as a result of the financial crisis.
China's exports, down by 16 per cent last year on account of falling demand from the West, have now grown for three straight months, the country's General Administration of Customs (GAC) said on Wednesday. While exports were up 46 per cent to $ 94.5 billion, imports also rose by 45 per cent, driven by rising oil demand on account of the government's continued stimulus spending on infrastructure projects.
Over the first two months of 2010, China's trade surplus has fallen by more than 50 per cent to $22 billion, the GAC said. Wednesday's data showed a revival in demand from the European Union and the United States, China's two biggest trade partners. Trade with the EU grew 35 per cent to $66 billion in the first two months of this year, while trade with U.S. was up 25 per cent to $49 billion. China's trade with India was up by 55 per cent to $9 billion, following a year which saw India's trade deficit with the country widen to a record $ 16 billion.
Trade between the two countries was down by 16 per cent last year from a record high of $52 billion in 2008, when China became India's largest trade partner. Indian exports to China, largely driven by iron ore, faced the brunt of the decline, down 32 per cent last year. But encouragingly for Indian exporters, China's imports from India were up 75 per cent in the first two months of this year, according to the GAC's figures. China's export revival is, however, likely to strengthen calls for Beijing to appreciate its yuan currency, which, some countries say, has been artificially kept low to support China's exporters. The yuan has been kept pegged at about 6.83 to the dollar since mid-2008. But Zhou Xiaochuan, the Governor of the People's Bank of China, said on Saturday the yuan would be kept “basically stable” in the coming year, and China would be “very cautious” about revaluing it.
AP STEAMING AHEAD: A truck runs at Yangshan deep-water port in Shanghai, China. China's exports rise in February is a new sign of growing global demand.
BEIJING: China's exports grew by 46 per cent in February, its biggest rise in three years, signalling a revival in global demand following months of steep declines as a result of the financial crisis.
China's exports, down by 16 per cent last year on account of falling demand from the West, have now grown for three straight months, the country's General Administration of Customs (GAC) said on Wednesday. While exports were up 46 per cent to $ 94.5 billion, imports also rose by 45 per cent, driven by rising oil demand on account of the government's continued stimulus spending on infrastructure projects.
Over the first two months of 2010, China's trade surplus has fallen by more than 50 per cent to $22 billion, the GAC said. Wednesday's data showed a revival in demand from the European Union and the United States, China's two biggest trade partners. Trade with the EU grew 35 per cent to $66 billion in the first two months of this year, while trade with U.S. was up 25 per cent to $49 billion. China's trade with India was up by 55 per cent to $9 billion, following a year which saw India's trade deficit with the country widen to a record $ 16 billion.
Trade between the two countries was down by 16 per cent last year from a record high of $52 billion in 2008, when China became India's largest trade partner. Indian exports to China, largely driven by iron ore, faced the brunt of the decline, down 32 per cent last year. But encouragingly for Indian exporters, China's imports from India were up 75 per cent in the first two months of this year, according to the GAC's figures. China's export revival is, however, likely to strengthen calls for Beijing to appreciate its yuan currency, which, some countries say, has been artificially kept low to support China's exporters. The yuan has been kept pegged at about 6.83 to the dollar since mid-2008. But Zhou Xiaochuan, the Governor of the People's Bank of China, said on Saturday the yuan would be kept “basically stable” in the coming year, and China would be “very cautious” about revaluing it.
BEIJING: China's exports grew by 46 per cent in February, its biggest rise in three years, signalling a revival in global demand following months of steep declines as a result of the financial crisis.
China's exports, down by 16 per cent last year on account of falling demand from the West, have now grown for three straight months, the country's General Administration of Customs (GAC) said on Wednesday. While exports were up 46 per cent to $ 94.5 billion, imports also rose by 45 per cent, driven by rising oil demand on account of the government's continued stimulus spending on infrastructure projects.
Over the first two months of 2010, China's trade surplus has fallen by more than 50 per cent to $22 billion, the GAC said. Wednesday's data showed a revival in demand from the European Union and the United States, China's two biggest trade partners. Trade with the EU grew 35 per cent to $66 billion in the first two months of this year, while trade with U.S. was up 25 per cent to $49 billion. China's trade with India was up by 55 per cent to $9 billion, following a year which saw India's trade deficit with the country widen to a record $ 16 billion.
Trade between the two countries was down by 16 per cent last year from a record high of $52 billion in 2008, when China became India's largest trade partner. Indian exports to China, largely driven by iron ore, faced the brunt of the decline, down 32 per cent last year. But encouragingly for Indian exporters, China's imports from India were up 75 per cent in the first two months of this year, according to the GAC's figures. China's export revival is, however, likely to strengthen calls for Beijing to appreciate its yuan currency, which, some countries say, has been artificially kept low to support China's exporters. The yuan has been kept pegged at about 6.83 to the dollar since mid-2008. But Zhou Xiaochuan, the Governor of the People's Bank of China, said on Saturday the yuan would be kept “basically stable” in the coming year, and China would be “very cautious” about revaluing it.
business news
Thermax-Babcock venture to make supercritical boilers
Special Correspondent
MUMBAI: Thermax, the Pune-based energy and environment solutions company has entered into 51:49 joint venture with U.S.-based Babcock & Wilcox Power Generation Group (B&W PGG), a global leader in power generation. The joint venture will make subcritical boilers of over 300 MW in size.
The joint venture will bring to the Indian power sector Thermax's expertise of integrating energy and environment solutions and B&W's track record of providing proven power generation technology and world-class project management capabilities.
The joint venture will entail an investment of Rs. 700 crore in a 1:1 debt-equity ratio. Thermax's equity investment of just over Rs. 175 crore will be funded from its reserves. The supercritical boilers will be made in a new facility that is still being planned. The plant will have an annual capacity of 3000 MW equivalent in the first phase and will indigenise the technology and contribute to local component development.
“We are proud to offer the services of this joint venture to support the government's initiatives to improve the power scenario. And we are happy that in B&W, we have a global technology leader whose boilers generate over 300,000 MW of power around the world,” said M. S. Unnikrishnan, Thermax Managing Director & CEO.
R&D facility
Thermax has a well established technology R&D facility with 120 patents.
B&W pioneered the development of supercritical boilers and this technology will allow the new joint venture to contribute to efficient power generation in the mega thermal plants planned to meet the huge energy requirements of the country. Supercritical boilers operate at higher pressures than subcritical boilers, increasing efficiency and producing more energy from the same amount of fuel. The new venture is being established at a critical time when India's ambitious growth plans and its dependence on coal-fired power plants for power throw up tremendous energy and environment challenges. In the context of emission reduction and the need to conserve fossil fuel, energy-efficient power generation is a critical requirement and the joint venture will help meet these challenges. Thermax and B&W have had a business relationship for over 20 years, and in February 2008,
Thermax signed a technology transfer agreement with B&W PGG for manufacturing subcritical power boilers. “This joint venture presents substantial opportunities for both B&W PGG and Thermax,” Richard Killion, President and COO, B&W PGG, said.
Special Correspondent
MUMBAI: Thermax, the Pune-based energy and environment solutions company has entered into 51:49 joint venture with U.S.-based Babcock & Wilcox Power Generation Group (B&W PGG), a global leader in power generation. The joint venture will make subcritical boilers of over 300 MW in size.
The joint venture will bring to the Indian power sector Thermax's expertise of integrating energy and environment solutions and B&W's track record of providing proven power generation technology and world-class project management capabilities.
The joint venture will entail an investment of Rs. 700 crore in a 1:1 debt-equity ratio. Thermax's equity investment of just over Rs. 175 crore will be funded from its reserves. The supercritical boilers will be made in a new facility that is still being planned. The plant will have an annual capacity of 3000 MW equivalent in the first phase and will indigenise the technology and contribute to local component development.
“We are proud to offer the services of this joint venture to support the government's initiatives to improve the power scenario. And we are happy that in B&W, we have a global technology leader whose boilers generate over 300,000 MW of power around the world,” said M. S. Unnikrishnan, Thermax Managing Director & CEO.
R&D facility
Thermax has a well established technology R&D facility with 120 patents.
B&W pioneered the development of supercritical boilers and this technology will allow the new joint venture to contribute to efficient power generation in the mega thermal plants planned to meet the huge energy requirements of the country. Supercritical boilers operate at higher pressures than subcritical boilers, increasing efficiency and producing more energy from the same amount of fuel. The new venture is being established at a critical time when India's ambitious growth plans and its dependence on coal-fired power plants for power throw up tremendous energy and environment challenges. In the context of emission reduction and the need to conserve fossil fuel, energy-efficient power generation is a critical requirement and the joint venture will help meet these challenges. Thermax and B&W have had a business relationship for over 20 years, and in February 2008,
Thermax signed a technology transfer agreement with B&W PGG for manufacturing subcritical power boilers. “This joint venture presents substantial opportunities for both B&W PGG and Thermax,” Richard Killion, President and COO, B&W PGG, said.
SAIL to raise capacity to 26 mt
The second phase of expansion to cost about Rs. 10,000 crore
NEW DELHI: State-owned steel maker Steel Authority of India Ltd. (SAIL) on Wednesday said it would increase its annual production capacity in a phased manner, taking it to 26 million tonnes by 2014.
“At present, the company produces about 13.82 million tonnes of hot metal every year. In the first phase of expansion, by the end of 2012, it will be taken up to 23.46 million tonnes and in the second phase it will be increased further to 26.18 million tonnes by 2014,” SAIL General Manager (Materials Management) R. N. Rawat said at a conference organised by mjunction here. The second phase of expansion programme is likely to cost the steel maker about Rs. 10,000 crore. At present, SAIL is undertaking a Rs. 70,000-crore expansion programme to raise its capacity to about 23 million tonnes by 2012.
The PSU had earlier envisaged to double its capacity to 26 million tonnes by 2012, but later revised the target downwards to 23 million tonnes due to global economic slowdown.
The second phase of expansion to cost about Rs. 10,000 crore
NEW DELHI: State-owned steel maker Steel Authority of India Ltd. (SAIL) on Wednesday said it would increase its annual production capacity in a phased manner, taking it to 26 million tonnes by 2014.
“At present, the company produces about 13.82 million tonnes of hot metal every year. In the first phase of expansion, by the end of 2012, it will be taken up to 23.46 million tonnes and in the second phase it will be increased further to 26.18 million tonnes by 2014,” SAIL General Manager (Materials Management) R. N. Rawat said at a conference organised by mjunction here. The second phase of expansion programme is likely to cost the steel maker about Rs. 10,000 crore. At present, SAIL is undertaking a Rs. 70,000-crore expansion programme to raise its capacity to about 23 million tonnes by 2012.
The PSU had earlier envisaged to double its capacity to 26 million tonnes by 2012, but later revised the target downwards to 23 million tonnes due to global economic slowdown.
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