The largest-ever expansion of Middle Eastern oil-refining is poised to curb the region’s imports of gasoline, reducing dependence on shipments from India and Singapore and sapping margins for European and Asian processors.
Philippine President Benigno Aquino said China may harm relations with its trading partners if it fails to respect a United Nations-backed arbitration ruling over its claims in disputed waters with oil and gas reserves.
Fujian province will pursue legal action against Zijin Mining Group Co. over pollution by its copper mine in the region, the Xinhua News Agency reported, citing a July 16 decision by the local government. The mine will remain shut pending review by regulators, and Zijing must protect the interests of the people affected, Xinhua reported.
China’s stocks rose, driving the biggest gains for the benchmark index in five weeks, after regulators broadened measures to boost investor confidence and a report showed American payrolls climbed more than forecast.
The Communist Party’s official newspaper ran a commentary saying China must restrict access to property records, addressing demands for more disclosure amid allegations that public servants amassed real estate illegally.
The Chinese entrepreneur and the Peruvian shopkeeper have never met. Yet Li Shiping’s dream of riches and success in China is uprooting Victor Raul Ancieta’s village 18,000 kilometers (11,000 miles) away in the Andes.