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NEW YORK, May 27 (Xinhua) -- U.S. stocks expanded gains on Friday ahead of the long Memorial Day weekend as surging commodity prices overcame disappointing economic data.European Central Bank Governing Council member George Provopoulos said that Greece might deal with its debt problem if it sticks to the aid program. That comment, which was considered as bullish by investors, drove the U.S. dollar weaker and led commodity prices surge on Friday.The stock market was driven by higher commodities prices, with thin trading volume ahead of the Memorial Day holiday, despite somewhat disappointing economic data on Friday.The Commerce Department said that both personal income and spending rose 0.4 percent in April, in line with market estimates. However, the rise in spending was the smallest in three months, suggesting the consumption situation was still weak.Meanwhile, pending home sales dropped 11.6 percent in April. The reading was a seven-month low. The market expectation was a drop of 1 percent.Moreover, the Thomson Reuters/University of Michigan Consumer Sentiment index came in above analysts' estimates. Concerns about higher gas prices and inflation had knocked the gauge down in March and April.Despite those disappointing data, analysts still held a bullish view toward the stock market. "Despite our near-term caution, we continue to see the S&P 500 reaching 1400 over the coming year," Alec Young, equity strategist of S&P Equity Research told Xinhua.According to Alex, while recent macro headwinds were raising questions about the sustainability of recent earnings momentum, he still believed that a downside trend of market was fairly limited and that the current weakness is more likely to be a correction, rather than the beginning of a new bear market."In our view, 2011 estimated EPS would have to be excessively optimistic to justify a bear market,"he added.The Dow Jones industrial average added 38.82 points, or 0.31 percent, to 12,441.58. The Standard & Poor's 500 was up 5.41 points, or 0.41 percent, to 1,331.10. The Nasdaq Composite Index rose 13.94 points, or 0.50 percent, to 2,796.86.

MOSCOW, Jan. 21 (Xinhua) -- Russian and Chinese companies started construction of an iron ore dressing plant Friday in the Evreyskaya Autonomous Oblast to provide high-grade iron ore to the Asia Pacific region, including China.Yury Makarov, chief executive officer of IRC Ltd., told Xinhua the plant would reach its designed capacity in 2013 at 10 million tons of iron ore and 3.2 million tons of iron ore concentrates, which contain up to 65 percent iron.Makarov said that 20 percent of the iron ore concentrates, which are natural iron ore processed through crushing, grinding and dressing, would be used to meet demands of Russia's far east and the rest would go to the Asia-Pacific market. Currently, China imports large amounts of concentrates from Brazil, Australia and India."We are very open to interaction with various countries of the Asia-Pacific region, especially China. The volume of processed iron ore has been increasing every year. We will be happy to deliver iron ore to your companies as well as any other consumers who are willing to purchase our products," he said.The plant will draw its resources from the Kimkanskoye and Sutarskoye deposits and send its products through the Khabarovsk Krai and the Suifenhe port to China.The plant is only 7 km from the Trans-Siberian Railway. A railway bridge is being planned between Evreyskaya Oblast and Heilongjiang to further shorten the supply route.Total investment in the plant is 400 million U.S. dollars, with 340 million in loans from the ICBC (Industrial and Commercial Bank of China) in China. Interest under the facility will be charged at 2.8 percent above LIBOR per annum. The China National Electric Engineering Co, Ltd is tasked with the construction of the plant.Makarov said he was very optimistic about the future of the plant and the development of relations between the Russia's far east and China's northeastern region.IRC Ltd. is a metal unit of Russian gold miner Petropavlovsk PLC. It became the second Russian company to be listed on the HK stock exchange, when it started trading on Oct. 21.

PANAMA CITY, April 17 (Xinhua) -- In Latin America there are 600,000 people infected with the Acquired Immune Deficiency Syndrome (AIDS) and about 50 percent of them receive treatment, regional director of UNAIDS for Latin America Cesar Nunez said on Sunday."We have to work a lot for the other half get treatment," Nunez told Xinhua during the 124th Assembly of the Inter-parliamentarian Assembly hosted in Panama City from April 15 to 20.Nunez urged the governments of the region to redouble efforts to control this pandemic, by improving the prevention campaigns to stop new infections."The availability of the medicines has grown in the last 10 years and the countries have taken this commitment, however, the number of infections each time is bigger than the number of people we can treat," he said.According to Nunez, despite the increase of new infections among women, the men sector continue being one of the most affected social groups by this virus."In Latin America we have an epidemic where the most affected are men, followed by homosexuals, lesbians and sex workers," he said.Nunez said that during the meeting with the parliamentarians, they exchanged experiences to contribute to improve the management of this disease."We have met with parliamentarians who have voted for more budget to buy more medicines, in favor of laws for more education about this topic and participation in the exchange of information to know about the advances and backwards of the fight against Aids," he said.Some 800 parliamentarians from 125 countries attended the 124th Assembly to debate the recent events in the Arab world, the disaster in Japan and sustainable development.

BEIJING, Feb. 18 (Xinhua) -- Jia Qinglin, China's top political advisor, urged the municipality of Beijing to intensify efforts to promote the development of service and manufacturing industries.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks during his inspection tour in Beijing from Wednesday to Friday.During the tour, Jia visited factories, construction sites and communities to exchange views with officials and civilians. He also listened to a report from the Beijing municipal government.Beijing has taken the lead in optimizing its industrial structure as the output of its service industry accounts for 75 percent of the revenue from all sectors, according to official sources of the city.Jia encouraged Beijing to continue to promote its service sector by focusing on producer services and expanding the city's service businesses overseas.While visiting Beijing Benz Automotive Co., Ltd., Jia called for the strengthening of technological innovation in order to boost high-end equipment manufacturing.Beijing should turn itself into a center for national technological innovation to contribute to the country's economic development, Jia said.He also stressed the better protection of forest resources and the more efficient use of water to develop modern agriculture.

BEIJING, Feb. 8 (Xinhua) -- China would continue expanding its radio and television networks coverage in the country's rural areas in the 2011-2015 period, according to the State Administration of Radio, Film and Television (SARFT).In the five-year period, efforts would focus on ensuring access to radio and TV services in those villages with less than 20 households, the SARFT said in a statement.It noted that China's other villages which had more than 20 households were already covered by the radio and TV networks, thanks to government's continuous efforts in this regard.China's central and local governments poured over 15.7 billion yuan (2.38 billion U.S. dollars) into the upgrading of the radio and TV networks in the country's rural areas in 2006-2010.Official figures indicated that 96.31 percent and 97.23 percent of China's population had access to radio and TV services respectively in 2009. The ratio was 86.02 percent and 87.68 percent respectively in 1997.

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