CHINA

Thousands of corrupt Chinese government officials have stolen more than $120-billion from the mid-1990s to 2008, according to a report from China’s central bank.

The International Monetary Fund cut its forecast for U.S. economic growth on Friday and warned Washington and debt-ridden European countries that they are playing with fire unless they take immediate steps to reduce their budget deficits.

A deal on steps to curb food price volatility between G20 agriculture ministers next week is reachable but far from guaranteed, French Farm Minister Bruno Le Maire said on Friday.

In the United States, big hotel chains get to float above the fray. India brings them down to earth.

Mexican Central Bank Governor Agustin Carstens, a contender to head the International Monetary Fund, said on Friday that it would be premature for him to comment on whether he earned Japan's support for his bid to become head of the fund.

Xunlei Ltd, a Chinese Internet platform company in which Google Inc has a small stake, decided to postpone its initial public offering of up to $200 million in the United States because of unfavorable market conditions, IFR reported on Friday, quoting a source with knowledge of the decision.

The teeming Chinese metropolis of Shanghai could become the world’s largest financial center in a decade, according to a report from KPMG and FTSE.

Xunlei Ltd, a Chinese Internet platform company in which Google has a small stake, decided to postpone its initial public offering of up to $200 million in the United States because of unfavorable market conditions, IFR reported on Friday, quoting a source with knowledge of the decision.

The Philippines on Friday announced that it will send its World War II vessel to a borderline part of the South China Sea after China headed its coastal patrol vessels in the waters.

The top after-market NASDAQ Stock Market gainers are: Warren Resources, MannKind Corp, Affymetrix, AutoNavi Holdings and Cathay General Bancorp. The top after-market NASDAQ Stock Market losers are: Research in Motion, China Finance Online, Merit Medical Systems, Mitcham Industries and Motricity.

Software widely used in China to help run weapons systems, utilities and chemical plants has bugs that hackers could exploit to damage public infrastructure, according to the U.S. Department of Homeland Security.

A breed of cyber pranksters known as hacktivists appears to be on a campaign to embarrass the U.S. government, but such types of attack are unlikely to breach the computer firewalls that protect important official secrets, independent analysts say.

The head of Ford Motor Co operations in Asia said on Thursday that the company will meet its ambitious goals for growth in China and India by greatly expanding its product offerings.

Chinese telecoms equipment manufacturer Huawei Technologies on Thursday rejected a U.S. government official's suggestion that its rapid growth was due to Chinese government financial aid.

China, the Philippines, Vietnam, Malaysia, and Brunei all claim territory in the Spratly Islands of the South China Sea, parts of which are believed to be sitting on huge deposits of oil and gas. So where are these islands and what do they look like?

Yesterday, a highly valued client of ours posed this question to us: ”Do you think that we are headed towards a depression?” It is not clear to me what event triggered the question, but my answer was a resounding “No”.

There are a thousand reasons not to travel. Here are six reasons why you should. Why it’s essential. Why escaping somewhere, anywhere, is important, and a vital part of humanity!

The United Nations and European Union are working to push Syrian President Bashar al-Assad to halt violence.

Passenger jet sales will reach $4 trillion over the next 20 years, Boeing predicted on Thursday as it hiked demand forecasts on the eve of the Paris Air Show.

Russia edged closer on Thursday to an elusive 30-year gas supply deal with China that could be worth up to $1 trillion to help power Beijing's booming economy and allow Moscow to diversify its exports away from Europe.

Ahead of the 90th anniversary of the Chinese Communist Party on July 1, China has closed off the former forbidden kingdom of Tibet to foreign tourists, travel agents said on Thursday.