Exploring and keeping readers up to date with the growing economic and political ties between China and South America. Including all the good stuff: Commodities, Energy, International Finance, South-South Cooperation, Microfinance and more
One year ago, Sichuan Province was struck by a devastating 8.0 magnitude earthquake. Thousands of visitors flocked to Sichuan province to pay their respects to the victims of the May 12th earthquake which killed over 80,000 people.
In Beichuan, a valley town totally wiped out by the 8.0 magnitude quake, family and friends gathered to light incense and ritual paper money to comfort the dead.
“I feel that this earthquake is not over yet, every time I see something related to the earthquake I feel like crying." ~ 20 year old XiaoYao who lost her brother and sister
“I feel so sad and heart broken and it hurts in my heart. I did not want to come back to this town. It brings back so many bad memories.” ~ 46 year old Xiao Caigui who lost over 30 relatives
The worst devastation was in Wenchuan where nearly 24,000 died or went missing and Beichuan county where 20,000 of its 160,000 residents perished in the quake.
Last year China hosted the Olympic games. It was also forced to deal paralyzing snow storms, worse than usual flooding during monsoon season (their equivalent of hurricanes) and oh yes... the most devastating earthquake in terms of power and damage since the quake which caused the Tsunami in few years back.
[China-Kuwait] -- Sinopec, Kuwait to Build $9 Billion Plant in China China Petroleum & Chemical Corp., Kuwait Petroleum Corp. and an overseas oil producer plan to build a $9 billion refining and petrochemical plant in southern China’s Guangdong province, according to the head of China’s energy authority.
[China-Brazil] -- Vale ships record iron ore to China in Q1 Brazil's Vale, the world's largest iron ore producer, shipped 34.63 million tons of iron ore to China in the first quarter of 2009, which marks a quarterly record, the company announced on May 6.
[China] -- China launches campaign to counter disasters China needs stronger steps to promote public preparedness and early warning systems for natural disasters, experts said ahead of the one-year anniversary of the Wenchuan earthquake.
[South Korea] -- Korean lenders hit by 75% drop in profit South Korean banks are grappling with deteriorating asset quality amid the economic downturn, which according to the country’s financial regulator led to a 75 per cent drop in combined profits in the first quarter.
[South Korea] -- SKorea to set up US$802m resources development fund SEOUL: South Korea Sunday unveiled plans to establish an 802 million dollar fund for investment in overseas mineral mines, oil fields and gas wells.
[India] -- State Bank of India Profit Exceeds Analyst Estimates State Bank of India reported fourth- quarter profit rose 46 percent to a record, exceeding analysts’ estimates, as lower lending rates lured borrowers and gains from trading grew more than fivefold.
Net income rose to 27.4 billion rupees ($556 million), from 18.8 billion rupees a year earlier, the nation’s largest bank said in a statement to the Bombay Stock Exchange today. That beat the 21.7 billion rupee median estimate of five analysts surveyed by Bloomberg.
Grants of as much as A$21,000 ($16,142) to first-time buyers and the lowest interest rates in 49 years have emboldened more than 40,000 young Australians to take out home loans since October, stoking demand for properties that cost less than A$500,000.
As part of Budget 2009 a total of $20 million over three years will be allocated to the seismic data acquisition program run by Crown Minerals, which is responsible for the administration and promotion of New Zealand's oil and gas.
