China has reported a higher-than-expected growth in the first quarter of 2010, despite the economy indicating a rising trend in the consumer and wholesale inflation. The country's Gross Domestic Product surged by 11.9% from the previous year's records for the same period. The growth in the first quarter has been observed to be the highest in the last 3 years.
Telecom equipment provider ZTE is likely to send 250 Chinese employees back as it is obliged to recruit Indian employees in all of its operations in India over the next 3 years.
The move has taken place in the wake of the release of the Government's directive, last month, which expects all the foreign telecom equipment companies in India to employ only Indian engineers.
Even though the leaders of China have now managed to reach a consensus that the country's present currency policy must change as soon as possible, the timing of the decision has been highly complication by rising nationalism, a media frenzy across the country over the said issue and visits by top officials from both sides to China and Washington.
On Friday, Daimler AG's luxury car unit, Mercedes-Benz said that its first-quarter sales in mainland China soared 112% year on year to 23,610 units, making China its fastest-growing market globally.
Mercedes-Benz said on its website that in March, sales of Mercedes-Benz, smart, AMG and Mayback cars on the Chinese mainland rose 62% from previous year to 8,280 units.
It has been reported that Oil futures increased due to a softer Dollar against the Euro. There also has been a massive increase in Chinese oil imports in the first quarter of the year.
The Dollar fell against the Euro after it was announced that the European Union has extended a package to Greece to assist it in debt recovery.
Arsenic has been used in traditional Chinese medicine for two thousand years for treating conditions such as syphilis and psoriasis, while in the West it is mainly considered a poison.
A type of leukemia can also be cured by it, as it has a significant anti-cancer effect. The scientists in China have managed to know that arsenic targets proteins that make cancer cells grow.