China

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India, China FlagLondon, Oct. 20 : Emerging economic powerhouses India and China will be most reluctant support the wider global economy during its downturn phase, as Deutsche Bank survey has warned.

The warning comes as world leaders have agreed to hold a “Bretton Woods (type) meeting for the 21st century” in New York to assess the global economy’s health.

The Deutsche Bank also warned that major industrialised economies will suffer the worst slump since the 1930s, and added that Britain will be more vulnerable than the United States.

Chinese shares soar on expected economic measures

Chinese shares soar on expected economic measuresBeijing - China's two stock market indices climbed sharply on Monday as analysts said they expected the government to introduce more measures to stimulate the economy.

The key Shanghai Composite Index, which tracks shares traded in local and foreign currencies, gained 43.35 points, or 2.25 per cent. to close at 1,971.01 points.

The smaller Shenzhen Component Index also climbed by 3.14 percent, or 15.86 points, ending the day's trading at 520.38 points

China's economic growth slows to 9 per cent in third quarter

China's economic growth slows to 9 per cent in third quarterBeijing - China on Monday reported a 9-per-cent growth in its estimated gross domestic product for July to September, maintaining fast but marginally slower expansion despite global financial woes.

Estimated GDP growth was down from 10.6 per cent in the first quarter and 10.1 per cent in the second quarter of this year, the National Bureau of Statistics said.

Bureau spokesman Li Xiaochao said the global financial crisis and economic recession had begun to have a "negative impact" on China.

Macau gaming revenues slip as visa controls limit Chinese gamblers

Macau - Tougher visa controls on mainland Chinese visitors led Macau to post a 10 per cent fall in gaming revenue in the third quarter from the previous quarter, a media report said Monday.

The July-September figure of 25.98 billion patacas (3.25 billion dollars) was down from 28.88 billion patacas in the second quarter, the South China Morning Post said.

Data from the Macau Gaming Inspection and Coordination Bureau showed that while third quarter revenue rose by 27.76 per cent year-on-year, the pace of growth had slowed compared with the 54.6 per cent surge between January and June.

China to install two more nuclear power reactors in Pakistan

China to install two more nuclear power reactors in Pakistan Islamabad - Pakistan's foreign minister said on Saturday that China will help the country to build two more nuclear power reactors to overcome its energy crisis.

An agreement was signed during President Asif Ali Zardari's recent visit to China, Shah Memhood Qureshi told a news conference in Islamabad.

"These two new units will increase electricity production by 680 megawatts, which will have positive effect on Pakistani economy," he said.

Pak frees one abducted Chinese engineer, another re-abducted by Taliban

ChinaIslamabad, Oct 18 : Pakistan security forces last evening recovered one of the two abducted Chinese engineers in northwestern parts of the country. ISPR’s in-charge in Swat Nadeem Ahmed confirmed that the recovered Chinese engineer was safe and healthy.

Taliban spokesman in Swat Muslim Khan also confirmed that one Chinese engineer had fled, while “the second was re-arrested”, reported the Chinese news agency Xinhua.

The freed engineer was flown to Islamabad by a military helicopter hours after he was rescued, added the report.

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