The IMF has cut its growth forecast for China's economy to 6.7 per cent this year from 8.5 per cent and called upon Beijing to focus on boosting domestic demand. "It implies a lot of changes - difficult changes, painful changes - in the Chinese economy," Dominique Strauss-Kahn, IMF managing director, said of the revised projection. China's economic growth slumped to 6.8 per cent in the fourth quarter of 2008 with exports posting a 2.8 per cent year-on-year decline in December. Full-year GDP … [Read more...] about IMF cuts China’s growth forecast
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IMF cuts China's growth forecast
The IMF has cut its growth forecast for China's economy to 6.7 per cent this year from 8.5 per cent and called upon Beijing to focus on boosting domestic demand. "It implies a lot of changes - difficult changes, painful changes - in the Chinese economy," Dominique Strauss-Kahn, IMF managing director, said of the revised projection. China's economic growth slumped to 6.8 per cent in the fourth quarter of 2008 with exports posting a 2.8 per cent year-on-year decline in December. Full-year GDP … [Read more...] about IMF cuts China's growth forecast
Dubai airport records leap cargo and pax
Dubai International Airport has posted a 9.38 per cent increase in freight traffic year-on-year traffic in 2008, despite the worldwide economic slump and a slowdown in global travel demand. The airport handled 1,824,991 tonnes of cargo in 2008 compared with 1,668,505 tonnes of freight in 2007. The airport also saw passenger numbers rise 9 per cent with a throughput of 37.4 million passengers, compared with 34.3 million passengers a year earlier. However, the airport missed its target of 40 … [Read more...] about Dubai airport records leap cargo and pax
Pax numbers fair better than cargo at Changi
Despite the global economic slowdown in the second half of 2008, Singapore Changi Airport handled a higher volume of passenger traffic, with 37.7 million passenger movements handled in 2008, up 2.7 per cent from 2007. But the impact on cargo was more pronounced where, compared to 2007, airfreight movements dipped 2 per cent to register 1.86 million tonnes in 2008. ¡°Despite the difficult economic climate, Changi Airport has performed commendably in 2008," said Cival Aviation Authority of … [Read more...] about Pax numbers fair better than cargo at Changi
China aims to up Pearl River Delta competitiveness
The Chinese government has released its plan for the future development of that country's most prosperous region, the Pearl River Delta. Shenzhen, Guangzhou and the other cities of Guangdong have the greatest concentration of economic activity in China and Beijing has mapped out an ambitious plan to keep the economic export engine running smoothly. The ongoing global recession has underscored concern in China over how to maintain growth in the key export sectors of its economy. Faultering demand … [Read more...] about China aims to up Pearl River Delta competitiveness
DHL Express continues Latin American investment
DHL Express has opened a new advanced logistics gateway at Mexico City's International Airport. The US$6.2 million facilities, which include a customer service call centre, were designed to significantly increase the company's operational capacity and strengthen its Mexican and international network. Apart from the US, Mexico's strongest trading partner, Canada and other Latin American markets, such as Colombia, Guatemala and Brazil, the top volume express trade lanes are those connecting Mexico … [Read more...] about DHL Express continues Latin American investment
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