
China posted GDP growth of 8.9 per cent in the third quarter of the year, up from 7.9 per cent growth in the second quarter, Bloomberg reported. The growth rate, the fastest in a year, reflected heavy government stimulus spending and high lending growth. Helped by massive stimulus spending on infrastructure, urban fixed-asset investment rose 33.3 per cent in the third quarter. Industrial production rose 13.9 per cent year-on-year in September, the highest rate of growth in more than 12 … [Read more...] about China posts 8.9 per cent Q3 GDP growth
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China-ASEAN Free Trade Area on track
The Chinese Vice Premier has reaffirmed his country's commitment to going beyond the China-ASEAN Free Trade Area (CAFTA) which is set to come into effect on January 1, 2010 in developing comprehensive economic cooperation in the Asian region. This agreement will provide a zero-tariff policy on 90 per cent of the products traded between China and ASEAN countries including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Once CAFTA takes … [Read more...] about China-ASEAN Free Trade Area on track
BAA sells Gatwick for US$2.5 billion
UK airports operator, BAA, owned by Spanish construction firm Ferrovial, agreed to sell Gatwick Airport to investment fund Global Infrastructure Partners for 1.5 billion pounds (US$2.46 billion) on Wednesday, as part of a competition ruling that it must offload three British airports in total. … [Read more...] about BAA sells Gatwick for US$2.5 billion
Dubai pax numbers up, cargo stable
Dubai International recorded an increase of 19.5 per cent in passenger traffic in September, the highest monthly growth rate since October 2007 and the fourth consecutive month of double-digit passenger traffic growth. Cargo growth remained stable in September with a modest increase of 2.75 per cent. Dubai Airports Cargo handled 168,334 tonnes of freight in September 2009 compared to 163,836 tonnes during the same period last year. Year-to-date cargo volumes total 1.37 million tonnes compared to … [Read more...] about Dubai pax numbers up, cargo stable
Classic B707 crashes in Sharjah on landing
A Boeing 707 cargo aircraft belonging to Sudan's Azza Air crashed in the United Arab Emirates at Sharjah airport on Wednesday while landing killing all six aboard. The airframe was originally delivered to Lufthansa on February 27, 1969. Since then it has also served with Condor, United Arab Emirate, Sudan Airways and Ibis Air Transport, as well as other carriers. … [Read more...] about Classic B707 crashes in Sharjah on landing
German government to lift night restrictions
German Chancellor Angela Merkel’s new coalition will ease rules that limit night flights to help companies including Deutsche Lufthansa AG and Fraport AG stay competitive, a senior coalition lawmaker said, according to a Bloomberg News report. Merkel’s prospective alliance of her Christian Democrats and the Free Democrats will curtail powers that Germany’s 16 states have to restrict night flights, Hans-Peter Friedrich, the deputy leader in parliament of … [Read more...] about German government to lift night restrictions
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