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Afghanistan, China sign MoUs for railway network, electricity projects

Afghanistan and China have signed Memorandum of Understandings for reconstruction of railway network from Sherkhan Port to Herat and implementation of the electricity project on Kabul-Kunar River. The MoUs were signed on Friday in the presence of President Mohammad Ashraf

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China fines British pharmaceutical firm for bribery

China has fined the giant pharmaceutical firm of the UK, GlaxoSmithKline (GSK), USD 490mn for bribing doctors and hospitals in order to have their products promoted. The court gave its sentence after a one-day trial at a court in Changsha,

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Hamid Karzai is responsible for Kabul Bank crisis-Abdul Qadir Fitrat

Former Afghan Central Bank Chief Abdul Qadir Fitrat alleged that the government is also responsible for the crisis of the Kabul Bank, adding the main individuals behind the collapse of the bank are still free and have not been questioned

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China working towards more economic reforms

Addressing the Communist Party, China’s president Hu Jintao said the country will deepen its economic reforms aimed mainly at expanding domestic demand. The president’s statement comes at a time when China is experiencing its slowest economic growth rate for three

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Kabul-Beijing strengthening bilateral relations

As the deadline for the withdrawal of US and NATO forces draws near, Beijing is stepping up its diplomacy with Kabul in recent months. On Sunday, China’s domestic security Chief Zhou Yongkang visited Kabul and signed security and economic agreements.

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China and Taiwan Sign Investment Protection Deal

China and Taiwan signed an investment protection pact aimed at strengthening cooperation ties between the two nations. The agreement will allow Taiwanese investors to grow more on the mainland. The two nations have a bilateral trade worth USD 110bn a

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Amu River Oil Deal with China is ‘transparent’

US and British envoys to Afghanistan confirmed transparency in awarding the contract to China National Petroleum Corporation (CNPC) for oil and gas exploration in the Amu River. This comes after the Western media had rising concerns about the bidding process,

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China and Brazil in Currency Swap Deal

China and Brazil have agreed a currency swap deal to allow their respective central banks to exchange local currencies up to USD 30bn. The amount would serve as a safeguard reserve in times of crisis and towards strengthening bilateral ties.

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Japan, China and S Korea edge towards free-trade deal

Japan, China and South Korea have moved closer to signing a trilateral investment agreement that could pave the way for a free-trade deal. If signed it would be the first economic agreement that is backed by law between three of

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