CHINA

Traders work on the floor of the New York Stock Exchange

Global Markets Overview 08/03/2011

U.S. stocks advanced on Tuesday as oil prices eased to below $105 a barrel and financials rallied after Bank of America announced plans to increase dividends in the second half of the year.

North Korea’s Appalling Food Shortage [VIDEOS]

North Korean leader Kim Jong-il visits the Pyongyang Floriculture Institute
Bad economy in most countries means the lack of benefits and job security for many and homelessness for a few. In North Korea, it means starvation/malnutrition for a substantial segment of the population.

Stocks to open flat on oil uncertainty

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U.S. stock index futures pointed to a flat open on Tuesday as more turmoil in Libya indicated a resolution was not close and a drop in oil prices failed to ease investor worry about the economic recovery.
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IMF: Signs of overheating in emerging markets

Emerging market economies that powered the global recovery may be growing too fast for their own good as inflation pressures build, a top International Monetary Fund official said on Monday.
Qatar's Prime Minister Sheikh Hamad bin Jassim bin Jaber al-Thani and U.A.E. Foreign Minister Sheikh Abdullah bin Zayed al-Nahayan

Persian Gulf states support no-fly zone over Libya

The six Persian Gulf states have expressed their support for the establishment of a no-fly zone over Libya, while the U.S., U.K. and France try to hammer out an agreement with the United Nations for just such a measure.
Test hacks on WA govt agencies went undetected

Iran Quietly Allows YouTube Access

After 19 months, the Iranian government restored access to YouTube, roughly coinciding with the anniversary of the Islamic revolution.
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China urges other nations to accept rare earths position

Countries that have come to depend on China for large amounts of rare earths metals should understand that Beijing has environmental concerns for curtailing exports, the Chinese Commerce Minister Chen Deming said on Monday.
10. Naoto Kan, Prime Minister of Japan

Japan's PM hangs on but outlook grim

Japan's unpopular Prime Minister Naoto Kan on Monday refused to step down after the resignation of his foreign minister over a political funding scandal that has added to pressure on him to quit or call a snap election.
China stands behind resource-rich Zimbabwe: foreign minister

China denies police behind foreign reporter beatings

Chinese police had nothing to do with the beating of foreign reporters covering a possible protest last month, the foreign minister said on Monday, as security forces intensified their monitoring of journalists.
Shanghai to set up insurance exchange -state media

Shanghai to set up insurance exchange -state media

China plans to set up an insurance exchange in Shanghai as part of efforts to build the city into an international financial centre, the state media said on Monday, citing top insurance regulator Wu Dingfu.
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Food may eclipse oil as spending threat

Food, not oil, may prove to be the bigger threat to global growth, with the pain falling disproportionately upon the developing economies that powered the latest economic recovery.

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