Business news 19 Feb 09

Business News

1. Foreign banks first elect the daily interest accrual for housing loan rate. B.03

Foreign banks (such as CITI Bank or Charterd) are going to cut down the loan repayment time to 30% off the normal rate.

2. The import volume of oil in Jan has established a new low point in the last 15 months. B.04

3. 696.2 billion RMB of the US debts is in China. B. 04

4. Beijing Telecom introduces the new number range 1890. B. 05

5. Top 3 Life Insurance earn 56.9 billion in Jan. B. 04

Life Insurance companies' revenues increased 13.8% on a yearly basis.

6. Shanghai Stock Market reached a record 109 points down. B. 06

7. The market value of Rio Tinto decreased of 400 billion RMB. B. 03

Capitalize CHINALCO (Aluminum Group of China) would benefit Rio Tinto.