介绍:
Renminbi clearing bank to open in London
The Policy Chairman of the City of London says China's central bank has decided to appoint a clearing bank in London.
The news is said to be an endorsement of London's efforts to become an offshore yuan center.
Other European financial centers in the race to become a yuan center include Frankfurt, Paris, Switzerland and Luxembourg.
Previously, RMB transactions have been cleared only through certain commercial banks' own channels.
Standard Chartered teamed up with Agricultural Bank of China last year, to provide their own yuan clearing platform.
China's PMI rises to highest level in 2014
Growth in China's manufacturing sector continued to accelerate in May, rising to its highest level this year.
Data released by the National Bureau of Statistics showed that the purchasing mangers' index, or PMI, increased to 50.8 percent in May, up from 50.4 in April.
This is the third consecutive monthly uptick.
The index, seen as one of the key indicators gauging economic performance, began to climb in March after three months of declines.
A reading above the 50-point level marks expansion.
Russia gives Ukraine more time to pay gas bill
Russia' gas giant Gazprom has given Ukraine more time to settle its gas bill after receiving a part payment of 786-million US dollars.
The company had previously threatened to halt shipments of gas unless Ukraine paid its bill in full and agreed in future to pay in advance.
Gazprom says Ukraine still owes it almost 2.5-billion US dollars.
Negotiations between the two sides will resume now that a part payment has been made.
Ukraine has refused to settle the full amount in protest against Gazprom's recent 80-percent price increase.
Almost 15-percent of gas used in Europe comes from Russia through Ukraine.
Major cities home prices drop
Home prices in major Chinese cities posted their first monthly decline in nearly two years in May.
The survey conducted by China Index Academy shows the average price of a new home in 100 major cities fell 0.3 percent from April.
The a average cost per square metre is almost 11,000 yuan, or nearly 1800 US dollars.
This is the first time the price has fallen since June 2012.
Prices dropped in 62 cities and remain unchanged in one.
The survey added to signs that China's property market is cooling, with analysts pointing to factors including stringent bank loan criteria, expectations of falling prices and financial trouble among developers.
Only two cities, Beijing and Tianjin have seen new home prices increase.
For more on the home prices issue, CRI's Paul James earlier spoke with Mike Bastin, Visiting Professor at China's University of Economics and Business.
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Back Anchor:
Mike Bastin, Visiting Professor of China's University of Economics and Business, talking to Paul James.
Obama to unveil sharp curbs on coal power plants
US President Barack Obama is to unveil new rules for coal-burning power plants aimed at dramatically cutting emissions that contribute to global warming.
US media say the proposals seek to cut carbon pollution from nearly 1,600 power plants by 30% by 2030 as compared with 2005 levels.
It's seen as a step toward achieving a pledge Obama made in his first year in office to make sizeable cuts in US carbon emissions by 2020.
Spain to launch 6.3bn euro stimulus package
Spain is set to unveil a new stimulus package worth 6.3bn euros next week.
The main rate of corporate tax will also be cut to 25% from 30%.
The measures are designed specifically to boost the economy's competitiveness and to create jobs.
Reports suggest that the package will include credits to small and medium-sized firms, as well as investments aimed at research and development, transport and energy-saving.
Spain has the second highest unemployment rate in the eurozone, behind Greece.
Samsung unveils first Tizen-powered smartphone
Samsung has unveiled a smartphone powered by the Tizen operating system, with an aim to rely less on Google's Android operating system.
The smartphone offers a faster start-up time and immediate multi-tasking capabilities.
It's set to be released at the Tizen Developer Conference later this week in San Francisco.
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