Economic conditions
Beijing plans to reduce tax rebates on exports of resource-intensive and environmentally-harmful products, reflecting the government's drive to shift the nation away from low-value-added exports. The decision comes despite strong protests from domestic companies and traders. The move is aimed at promoting a trade balance and reducing the
Economic conditions
China's government aims to reduce its tax rebates on high-energy consuming, resource-intensive, and environmentally-harmful products by an average of 2% to encourage domestic consumption and reduce trade surpluses. According to officials, the new policy reflects the government's efforts to shift emphasis away from low-value-added exports and
Economic conditions
Chinese enterprises saw a 25.5% increase in profits in the first five months of 2006, but the majority of this growth was concentrated in the five major sectors of oil, electric power, coal, and nonferrous metals. The top five sectors in growth were nonferrous metals, electric power, machine building,
Economic conditions
The world is getting hotter and using more fossil fuels as people get richer and the population surges towards the 6.5 billion mark. According to the Worldwatch Institute's Vital Signs publication, the amount of greenhouse gases working their way into the atmosphere is at an all-time high,
Economic conditions
China's top trade union official, Wang Zhaoguo, has proposed an amendment to the Trade Union Law, making it compulsory for foreign-funded companies to unionize. This move aims to counter obstinate refusals by foreign companies, including the world's leading retailer Wal-Mart, to recognize trade unions for employees
Economic conditions
The fate of the Doha round of trade talks hangs in the balance, with Prime Minister John Howard stating that the talks are "on the brink of collapse" due to Europe's failure to compromise on protectionist farm policy. Despite the US offering to phase out agricultural
Economic conditions
The Philippine Department of Labor and Employment (DOLE) has introduced a simplified application process for the alien employment permit (AEP) to encourage foreign workers to invest and create jobs in the country. The new department order reduces the processing time from five days to one and simplifies the required documents.
Economic conditions
China's senior bankers, including Guo Shuqing, chairman of the China Construction Bank Corporation, and Wu Xiaoling, vice-governor of the People's Bank of China, have called on the US government to create a favorable environment for Chinese investors to deepen economic ties. They argue that the imbalance
Economic conditions
Despite increasing internet usage, companies in Vietnam are not fully leveraging e-commerce to sell their products and services, according to the Ministry of Trade. The infrastructure and personnel needed to support e-commerce are in place, but most companies have not integrated the web into their long-term business plans. However, businesses
Economic conditions
The World Bank has approved a $111.5 million credit to support the government's program to develop an accountable local governance system in Bangladesh. The credit will strengthen Union Parishads' (UPs) ability to respond to community needs and deliver services through a transparent fiscal transfer system. The
Economic conditions
The World Bank has expressed its determination to tackle corruption in Bangladesh's power sector, particularly in projects funded by the bank. World Bank Vice President Praful Patel emphasized the need to reduce leakage and corruption in the sector, citing a significant cost to the country's development.
Economic conditions
China's State Administration of Taxation has announced plans to slash export tax rebates for resource-intensive products, aiming to curb the country's rapidly increasing exports and narrow its foreign trade surplus. The move targets energy-consuming industries, which have been detrimental to the environment, and is expected to
