China's central bank to raise interests rate, second time this year
China's central bank ,the People's Bank of China ,has raised the one-year lending and deposit interest rate by 25 basis points beginning Sunday.
This is the second time the central bank has increased interest rates in 2010, which raised the one-year lending rate to 5.81 percent and one-year deposit rate to 2.75 percent.
The PBOC increased the benchmark lending and deposit rates by 25 basis points on Oct. 20, which was the first time in almost three years.
The rate hike came after the central bank vice governor, Hu Xiaolian, said Friday that China would bring its overall money supply to a normal level with a range of policy tools, as the government shifts monetary policy from "moderately loose" to "prudent" to rein in rising inflationary pressure and curb asset bubbles.
China's legislature ends bimonthly session, adopts revision to Law on Water and Soil Conservation
China's top legislature has ended its six-day bimonthly session, adopting a revision to the country's Law on Water and Soil Conservation in a bid to better protect the nation's environment.
The new law has been expected to help reverse China's serious water and soil losses, which are regarded by the Minister of Water Resources as the country's top environmental problem.
Top legislator Wu Bangguo, said at the end of the meeting that the revised law on water and soil conservation would be of great significance to improve the country's capacity in disaster-prevention and improve environmental conditions.
Chinese vice premier urges tax collectors to improve services
Chinese vice premier Li Keqiang said that China's tax officials should continue to promote reform in the tax system and improve services to contribute to the country's economic development and social harmony.
He made the remarks in a written instruction to a recently-held national conference on taxation, which coordinated next year's working plans for the tax administration system.
The vice premier called on tax officials to further enact structural tax reductions, promote tax reforms, strengthen tax collections and management and improve services for taxpayers.
Chinese vice premier calls for speeding up industrial restructuring
Chinese Vice Premier Zhang Dejiang has called for speeding up China's industrial restructuring and improvements in scientific innovation to set the foundation for building a well-off society.
He made the remarks while delivering a speech at a national work conference on industrialization and information-based economy.
The vice premier stressed that China should step up its industrial restructuring and strengthen its competitiveness in the next five years by improving the manufacturing sector, nurturing the emerging industries with strategic importance, developing producer service industries, optimizing enterprise structures and establishing a modern industrial system.
42 killed, 72 injured in suicide blast in Pakistan
A suicide blast has killed at least 45 people and injured more than 70 others in front of a World Food Program office in Pakistan's northwest city of Khar in Bajaur Agency.
Local media reports say the blast occurred Saturday morning when a female suicide bomber blew herself up among the large crowds of people gathering in an open area in front of the World Food Program office, waiting for the food tokens to be distributed,.
Hospital sources say the death toll could further rise as many of the injured people are in critical condition and the facilities at the hospital are not adequate enough.
No group has claimed the responsibility for the blast yet.
At least 32 killed, 74 injured in Nigeria's Jos bomb blasts: police
The police in Nigeria's central north Plateau State has confirmed the killing of 32 people after three blasts rocked Nigeria's restive Jos city.
More than 70 others were seriously injured and are receiving treatment at various hospitals in the state.
The bomb blasts came one week after a Nigerian court sentenced 15 people to 10 years each in prison for involvement of the violent crisis in Jos in March.
Nigerian President Goodluck Jonathan has condemned the bomb blast in Jos, describing the action as wrong at a time when the world was celebrating Christmas.
India communication satellite launch fails
India's launch of its latest communication satellite failed Saturday afternoon after the rocket carrying it developed a technical snag soon after its take-off from the southern spaceport of Sriharikota.
This is the second failure this year, after a GSLV mission rocket plunged into the Bay of Bengal on April 15.
Beijing aims for smoke-free indoor public spaces by 2015
Local health authorities say Beijing will strive to make all the city's indoor public places, workplaces and public transport smoke-free by 2015..
A spokesman of the Beijing Municipal Health Bureau says Hospitals, schools, theaters, museums, business halls, stadiums, offices of enterprises and government organizations, as well as buses, taxies and subways, should hopefully be smoke-free by then.
The municipal government issued a smoking ban in the above places in 2008 ahead of the Beijing Olympics, but the rules haven't been effectively implemented.
China is home to 350 million smokers, a third of the global total.