China’s PM says economy still under pressureAugust 15, 2012 - 17:20 AMT PanARMENIAN.Net - China's economy faces big headwinds though cooling inflation is giving the government more leeway to maneuver monetary policy, Premier Wen Jiabao was quoted by state media as saying on Wednesday, August 15. Wen's comments followed a raft of data last week that suggested China's economy has not stabilized despite two interest rate cuts this year, as export growth, factory output and retail sales further weakened in July. Investors worry the world's second-largest economy could post its weakest showing since 1999 with growth of just 8 percent this year, and expect the government to cut interest rates by 25 basis points at least once more in 2012. "The downward pressure on our economy is still big and the difficulties may last for a while," Wen said during a two-day visit to the coastal export province of Zhejiang, which started on Tuesday, where he met representatives of domestic and foreign companies. It is customary for Wen and other officials to visit export towns during economic downturns to do some on-the-ground research. Their visits sometimes precede policy changes by the government, Reuters reported. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Narek Manasyan wins European Boxing Championships silver for Armenia Armenia’s Narek Manasyan (92kg) won Armenia’s second silver medal at the European Boxing Championships 2024 on April 28. Blinken urges Azerbaijan to continue negotiations with Armenia Secretary of State Antony J. Blinken has urged Azerbaijani President Ilham Aliyev to continue negotiations with Armenia. Pashinyan, Blinken talk Armenia-U.S. ties over the phone Prime Minister Nikol Pashinyan had a phone conversation with US Secretary of State Antony Blinken on April 28, Pashinyan’s office reports. Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. |