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ACCRA, Feb. 12 (Xinhua) -- China would in the coming years inject more capital to support the infrastructure needs of Ghana, Chinese Ambassador to Ghana Gong Jianzhong has said.Briefing the media here on Friday night to announce the visit to Ghana by Chen Deming, the Chinese Minister of Commerce, Ambassador Gong said that China is willing to join in the infrastructure development of Ghana."We are willing to join Ghana in improving its infrastructure base. We will be happy to give our contribution towards the infrastructure development of Ghana," he said.The forthcoming two-day visit by the Chinese minister would afford the two countries to further cement, promote and syncretize the bilateral trade and economic corporation existing between them for more than five decades.The ambassador said the Chinese Embassy in Ghana is committed to offering quality service to Ghanaians engaging in bilateral exchanges and cooperation in different fields.Currently, China has supported the West African country in the construction of various roads, rails, school blocks, hospitals, among others.He called on the Chinese firms in Ghana to raise investments and take corporate social responsibilities in local communities where they are operating.
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.
BEIJING, Apirl 1 (Xinhuanet) -- An Ariane rocket launch of two communications satellites was aborted Wednesday after a technical hitch at the scheduled moment of liftoff in French Guiana on Wednesday.According to Arianespace, the Ariane 5 rocket's Vulcain main engine ignited as scheduled at 5:45 pm EDT (21:45 GMT), but the checkout process during ignition detected an unspecified anomaly, shutting down the engine before the two solid-rocket boosters ignited.The 165-foot (50-meter) tall Ariane 5 rocket's main engine's checkout process "was not completed successfully, preventing the boosters' ignition and thereby aborting the mission," Arianespace officials said. "The Ariane 5 and its two payloads remain in a safe mode on the launch pad."The Ariane 5 rocket uses a Vulcain 2 first stage engine assisted by two solid rocket boosters to launch satellite payloads into orbit. The Vulcain 2 engine is fueled by cryogenic liquid hydrogen and liquid oxygen and is designed to burn for about 600 seconds to boost payloads into space.Jean-Yves Le Gall, Arianespace president, said it would return the rocket to the final assembly building to prepare it for another launch attempt while investigating the cause of the problem. No new launch date was immediately announced.The Ariane 5 was to launch the Yahsat Y1A and Intelsat New Dawn communications satellites.
SAN FRANCISCO, April 4 (Xinhua) -- Google Inc. on Monday announced that it is bidding for patent portfolio of Nortel Networks in the bankruptcy auction for the Canadian telecommunications equipment maker.In a press release, the Toronto-based Nortel said Google has agreed to buy all of its remaining patents and patent applications for 900 million U.S. dollars in cash.Nortel, which filed for bankruptcy protection in 2009, expects the auction to be held in June this year, pending Canadian and U.S. court approvals.Nortel has selected Google's bid as the "stalking-horse bid," or the starting point against which others will bid prior to the auction.The agreement with Google includes the planned sale of about 6, 000 Nortel patents and patent applications spanning wireless, wireless 4G, data networking, optical, voice, Internet, service provider and semiconductors.According to Nortel, the patent portfolio touches nearly every aspect of telecommunications and additional markets, including Internet search and social networking."This is an unprecedented opportunity to acquire one of the most extensive and compelling patent portfolios to ever come on the market," George Riedel, Nortel's chief strategy officer, said in a statement.Google argued that the bid would help protect it from patent litigation and foster innovation.The technology industry has recently seen an explosion in patent litigation, often involving low-quality software patents, which threatens to stifle innovation, Kent Walker, Google's general counsel, said in a blog post, believing the best defense against such litigation is to have a "formidable patent portfolio. ""So after a lot of thought, we've decided to bid for Nortel's patent portfolio in the company's bankruptcy auction," he said."If successful, we hope this portfolio will not only create a disincentive for others to sue Google, but also help us, our partners and the open source community -- which is integrally involved in projects like Android and Chrome -- continue to innovate," Walker noted.
BEIJING, Feb. 20 (Xinhua) -- China's railways handled 7.13 million passengers Saturday, setting a new one day record, the Ministry of Railways (MOR) said Sunday.The figure was 16 percent higher year on year, the MOR said.Chinese railways are witnessing a new wave of travel after the Lantern Festival celebration (the 15th day of the first month in the Lunar New Year) Thursday, which is considered a symbolic ending of the festival season.China's Spring Festival fell on Feb. 3 this year.The busy Spring Festival transportation season runs for 40 days and is calculated in two phases: 15 days before the Spring Festival and 25 days after the Spring Festival.