A senior Pakistani official told CBS News on Sunday that Pakistan’s “close and effective defence ties” with China will be able to “fill the gap” that has been left behind by US withdrawal of military aid.
Earlier in the day, White House Chief of Staff William Daley went on ABC News’ ‘This Week’ to confirm reports that the US was suspending US$800 million worth of military assistance to Pakistan.
China is doing well when it comes to the global economic arena. The Chinese are hardworking, smart – and they’re taking over the world. Why so serious? Here’s a few jokes to lighten up; the fact the Chinese will one day dominate the world.
“Congress has rejected raising the debt ceiling, so if China calls, let it go to voicemail.” – Stephen Colbert
The rise in advertising spend by companies big and small is always a good indicator of global economic recovery. After all, it’s one of the first budgets companies pull in bad times. So if you’re wondering which companies are spending the most on advertising (and you’re after a share of that market!), here’s the top 200 advertising budgets:
Related: Advertising Industry
A new UN report conducted by the Department of Economic and Social Affairs has called for investments of US$1.9 trillion annually over the next 40 years in green technologies in order to create a “fundamental technological overhaul of production processes worldwide” and avoid “a major planetary collapse.”
North Korea have become increasingly reliant on China for trade since South Korea ended nearly all business relations with the communist state after an attack on a South Korean warship last year.
In 2010, trade between North Korea and China accounted for 56.9 percent of North Korea’s total trade, up from 52.6 percent in 2009.
The recent Seventh Quarterly Report released by the White House’s Council of Economic Advisers has sparked a war of words in the US as politicians and political observers from the opposing parties battle over the interpretation of the report.
According to the report, the US has spent nearly US$666 billion dollars on the American Recovery and Reinvestment Act (ARRA) since 2009, with 2.4 million jobs having been created as a direct result of the ARRA.
American social media gaming company Zynga could become the most valuable video-game company in the US after filing its intention to raise US$1 billion in an initial public offering that would value the company at US$20 billion.
The creator of popular Facebook games such as Cityville, Farmville and Mafia Wars, Zynga would be the first publicly traded company whose profits solely depended on the sale of virtual goods.
Socio-economic problems have erupted in Yemen as the petrol crisis enters into its fifth month with little to no end in sight.
The Yemeni oil industry, which is the country’s largest source of income, came under attack by Yemeni tribesman in March this year with political leaders both for and against Yemeni President Ali Abdullah Saleh accusing each other of backing the armed tribesmen.
The Yemeni President himself was injured in an assassination attempt on June 3rd and is currently recuperating in Saudi Arabia.
China’s sovereign wealth fund, China Investment Corp (CIC), could be on the verge of acquiring a stake in Facebook, if a report in Business Insider is to be believed.
According to Business Insider sources, financial firm Citibank has been trying to obtain as much as US$1.2 billion worth of Facebook stocks on behalf of two sovereign wealth funds – one from China and another from the Middle East.
Eight years after the Concorde was retired due to low passenger numbers and high maintenance costs, A British firm has unveiled plans to build a supersonic plane that would be twice as fast as the Concorde and far more environmentally friendly.
HyperMach announced its plan for the SonicStar Aircraft at the Paris Air Show last week, which could potentially cut airline travel time by 75 percent.
A trip from London to New York would take a mere two hours while passengers travelling from London to Sydney would reach their destination in just three and a half hours.
