CHINA

China's coal-to-oil experiments are developing smoothly, according to officials.

The Chinese government said on Tuesday that China will not abolish the a series of economic laws and regulations that launched recently, even though these policies mean that foreign investors doing business in China become even more difficult.

Apple reiterated its goals of selling 10 million iPhones by the end of the year in spite of growing concerns of a slowing macro-economy analysts concerns

Soybeans and soybean oil dropped on Tuesday amid speculations that China will increase sales of vegetable oil from inventories to slow food inflation.

After mixed reports surrounding Apple and China mobile talks, the mobile carrier confirmed on Monday that it has not yet entered into negotiations to take the iPhone to China, saying such talks may be held closer to the release of a 3G version of the touch-screen handset later this year.

HSBC's profits rose 10 percent last year as buoyant growth in Hong Kong and elsewhere in Asia helped Europe's biggest bank absorb $17.2 billion in bad debts as the U.S. housing crisis deepened. Hong Kong profits rose 42 percent while Asia earnings grew by 70 percent. North America was managed a small gain.

China's top filmmaker Zhang Yimou said Hollywood director Steven Spielberg's resignation as an adviser to the Beijing Olympics was quite regrettable, but would not affect the Games, the China News Service said.

Australian miner Oxiana Ltd launched an agreed A$6.1 billion ($5.7 billion) takeover offer for Zinifex Ltd on Monday, looking to diversify to benefit from booming global minerals demand.

China Mobile, the world's largest mobile phone operator, said on Monday it had not officially entered into talks with Apple Inc to bring iPhones to the mainland, but was interested in doing so.

The U.N. Security Council is expected to adopt a third round of sanctions against Iran for its nuclear program on Monday, but diplomats said this might be the first round that is not approved unanimously.

China's securities regulator has approved to launch three new mutual funds on Friday.

The Land and Natural Resources Department of China (LNRD) starts up iron ore exploration to ease the stress of rising iron ore prices.

Allianz, Europe's top insurer, believes market turbulence has created acquisition opportunities in Asia, and predicts Asian sales will climb to 10 percent of total group income, or 10 billion euros ($15 billion).

Two industry groups representing China's local musicians and songwriters have filed a lawsuit against the country's Web search leader, Baidu.com Inc, accusing it of copyright violation.

China has opened its bond market wider to foreign banks, naming the local arms of JPMorgan Chase and Standard Chartered Bank as primary underwriters of debt issued by the Ministry of Finance.

Toyota Motor Corp will boost production capacity for its Lexus luxury cars in Japan by about 35 percent in 2009 to meet growing demand in emerging countries such as Russia and China, the Nikkei business daily reported on Wednesday.

Major powers are looking for new ways to draw Iran into negotiations over its nuclear program while simultaneously pushing for more U.N. sanctions, U.S. officials and diplomats said on Tuesday. Political directors from the permanent five members of the U.N. Security Council -- Russia, China, the United States, Britain and France -- as well as Germany, met in Washington on Monday to discuss how to tweak their Iran strategy.

Copper futures recovered on Tuesday rising along with commodities and boosted by a decline on inventories.

The United States' oldest symphony orchestra played an unprecedented concert on Tuesday in hermit North Korea that both sides say they hope will bring a little harmony to relations between the bitter Cold War foes.

Secretary of State Condoleezza Rice urged China on Tuesday to press North Korea to disclose its nuclear programs so that a stalled disarmament deal can move forward.

Copper prices in New York fell from their highest level since May 2006 after inventories climbed and concerns about demand continued.