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Incoming new business volumes continued to rise
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MessaggioInviato: Mer Mag 08, 2019 4:15 am    Oggetto:  Incoming new business volumes continued to rise
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CHINA’S first Internet auction of planes wrapped up Tuesday
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, with the Shenzhen-based logistics company SF Express winning the bids for two cargo planes at over 320 million yuan (US$48.35 million), Xinhua reported.


Three cargo planes were available for bidding. They were previously owned by Jade Cargo International Co. Ltd., a Sino-German cargo company that filed for bankruptcy at the Shenzhen Intermediate People’s Court in 2013.


The court’s auditors found that Jade Cargo had assets totaling around 1.7 billion yuan, but debt amounting to around 4.7 billion yuan as of Sept. 17, 2013.


The main assets owned by Jade Cargo were three Boeing 747 cargo planes and 11 engines. Since Oct. 26, 2015, the auditors had carried out six auctions to sell the cargo planes
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, but none of the auctions sold the planes .


The auditors resorted to an online auction with a starting price of 390 million yuan. Under the court’s guidance, all three cargo planes, along with the engines, were put onto Alibaba’s online auction platform.


At 10 a.m. Monday, the auction for the planes registered as B-2421 (including 3 GE engines), B-2422 (including 4 GE engines) and B-2423 (including 4 GE engines) began. The starting prices were 122.6 million yuan, 134 million yuan and 135 million yuan
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, respectively.


The B-2421 cargo plane was parked at the Shenzhen airport while the other two were parked at Shanghai Pudong International Airport. The auctions attracted nearly 800,000 viewers online.


After 26 rounds of bids, SF Express bought the B-2422 for 160.78 million. The logistics giant also nailed down the B-2423 for 162.04 million after 27 rounds of bids.


One of the auctions failed because only one buyer registered a bid, the court said.


According to Long Guangwei, deputy director of Shenzhen Intermediate People’s Court, buyers were required to pay various amounts of deposits before the auction.


It has become a trend for courts to hold online auctions since 2012 when the Supreme People’s Court launched a trial online judicial auction. In August 2016, the court gave an official judiciary explanation of online auctions. Since the beginning of this year
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, courts around the country have started to launch online judicial auctions.


So far, Alibaba’s online auction platform has auctioned off 330,000 items with a trade volume of 460 billion yuan.


Luo Weixing, the general manager of the auction department at Alibaba Group, said that the online judiciary auction is an innovative method that can fully protect the stakeholders’ interests with a fair, open and efficient system. (Zhang Qian)


BRASILIA, April 29 (Xinhua) -- Increasing the volume of investment is a priority for the government of Brazil to spur the growth of the gross domestic product (GDP)
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, Finance Minister Guido Mantega said Tuesday.


Addressing the National Congress in the capital Brasilia, the finance chief said he believed the global financial crisis was nearing an end, offering a new outlook on the possibility for economic growth.


Brazil needs to expand its infrastructure to drive growth, said Mantega, adding the challenge will be to generate an average 7 percent annual increase in investment in the sector to boost growth.


"It is necessary to continue expanding the domestic market, which will grow again with the return of consumer credit, and investment must grow at a greater rate than household spending
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," he said.


Achieving a higher investment rate will be a slow process, Mantega acknowledged, that's why growth forecasts for the next few years remain modest, with the government expecting between 2.3 percent and 2.5 percent growth for this year -- a fair outcome given the global economy.


Even during the worst of the crisis, Brazil continued to receive sizeable foreign investment of about 65 billion U.S. dollars a year, according to Mantega, so the country is ready to tackle any "speculative attack" due to its high international reserves of 318.8 billion dollars.


Its reserves will allow Brazil to weather the gradual withdrawal of monetary incentives on the part of the United States
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, said Mantega.


In addition, only just over 10 percent of the country's foreign debt is in short-term loans, a factor that also favors the government, he said.


The Brazilian currency real's resiliency against the dollar in February also disproved those who believed Brazil was among the so- called "fragile five" emerging markets (also including Turkey, India, South Africa and Indonesia), where short-term growth relies too heavily on foreign investment
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, said Mantega.


"Brazil is solid and well prepared to tackle (currency) fluctuation," he said.


LONDON, April 3 (Xinhua) -- British service purchasing managers' index (PMI) declined to 57.6 in March from 58.2 in February, the lowest level since June 2013, and also well below the market estimates consensus of 58.2, said Markit Thursday.


The service sector dominates the British economy, contributing around three quarters of the gross domestic product (GDP)
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, according to the Office of National Statistics (ONS).


The seasonally adjusted Business Activity Index, the headline index from the survey, registered 57.6 in March, well above the 50.0 no-change mark, said the London-based survey compiler.


Incoming new business volumes continued to rise at a strong but nonetheless slower rate during March, said Markit. And new work increase at the weakest pace for 10 months.


Meanwhile, inputs costs grew at the slowest degree last month since May 2013
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, and output ch.
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MessaggioInviato: Mer Mag 08, 2019 4:15 am    Oggetto: Adv






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