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UK-China relation attains new heights amidst doubts and criticism

Chinese President Xi Jinping is all set to sign a landmark deal with Britain worth billions, thrusting his nation into the heart of Britain’s civil nuclear industry.

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Volkswagen recalls cars in China amid diesel emissions scandal

Earlier Monday, Volkswagen confirmed that it was recalling 1,950 diesel vehicles in China to correct the engine software that the company admits cheated on emission tests

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World Bank cuts East Asia growth forecast

The World Bank has slashed its economic growth projections for developing countries in East Asia and the Pacific, reflecting risks for China’s slowdown and possible contagion from expected increases in U.S. interest rates.

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Japan’s Nikkei buys Financial Times for £844 million

Japanese publishing group Nikkei Inc. took media circles by surprise when it agreed to acquire the 127-year old Financial Times from its British owners in a £844 million ($1.3bn) buyout deal.

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Slump in Manufacturing Spread in Asia Reveals Deepening Impact of Euro Zone Crisis

Slump in Manufacturing Spread in Asia Reveals Deepening Impact of Euro Zone Crisis

Fall in export orders in August for economies across Asia has resulted in a contraction of manufacturing spread for the region. This contraction is being considered as an indicator of the deepening impact of Euro Zone crisis on global economies. The level of Purchasing Managers' Index (PMI) for China fell below the level of 50, which demarcates the level of expansion from contraction for the economy. Measured by HSBC, the PMI index for China fell to 47.6 points, which is the lowest level since March 2009.

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