
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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Airfreight rising faster than seafreight: Toll
Expressing sentiment expressed recently by a number of players in the airfreight industry, Toll Group chief executive Paul Little has said that airfreight was leading seafreight as the global economic recovery gathers steam. Little also predicted a rebound beginning in the fourth quarter this year. "Interestingly we've probably seen more interest in airfreight than seafreight," Little said speaking on ABC's Inside Business program. "Airfreight, of course, is a direct result of people trying to … [Read more...] about Airfreight rising faster than seafreight: Toll
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
CEVA opens ‘Pyramid’ warehouse in Dubai
CEVA Logistics has announced the opening of ‘Pyramid,’ a new 12,000 sq.m warehouse located in the JAFZA South Zone in Dubai. The new facility will serve as CEVA’s Middle East headquarters and manage products for four key regional customers working in the electronics, fashion and industrial sectors, the group said. … [Read more...] about CEVA opens ‘Pyramid’ warehouse in Dubai
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
Korean pulls out of SkyTeam cargo alliance
Korean Air has terminated its involvement in the SkyTeam joint venture cargo sales alliance that had been formed with SkyTeam partners Delta and Air France. The Asian carrier's withdrawal effectively ended the joint venture after Delta Cargo decided to pull out late last year. Korean will now sell its cargo capacity in the US and Canadian market through its own offices following a revamp of its sales network creating one western and one eastern division. … [Read more...] about Korean pulls out of SkyTeam cargo alliance
