The International Monetary Fund has issued new analysis, suggesting China’s short-term economic prospects have improved.The new IMF report covers a broad overview of the Chinese economy, with the long-term outlook remaining much the same as before.However, IMF Chief China Representative, Alfred Schipke, says a recent drive to increase spending in China is helping prop-up economic prospects in the near-term."In our view, the short-term outlook is somewhat better, in part because of the stimulus that has been provided to the economy."Schipke says while this push toward more spending ha...
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2016
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Chinese scientists on Sunday maneuvered the country’s Tiangong-2 space lab to a preset orbit 393 kilometers above Earth’s surface, in preparation for a planned docking with the Shenzhou-11 manned spacecraft set to launch next month.Tiangong-2, which blasted off from the Jiuquan Satellite Launch Center on the back of a Long March-2F T2 rocket on Sept. 15, has already gone through about nine days of on-orbit testing before Sunday’s maneuver, according to Li Jian, deputy head of the Beijing Aerospace Control Center."All test results suggest the space lab is in good condition," Li said.E...
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2016
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MARBLEHEAD, MASS. — One of the world’s largest package delivery companies is stepping up efforts to integrate drones into its system.UPS has partnered with robot-maker CyPhy Works to test the use of drones to make commercial deliveries to remote or difficult-to-access locations.The companies began testing the drones on Thursday, when they launched one from the seaside town of Marblehead. The drone flew on a programmed route for 3 miles over the Atlantic Ocean to deliver an inhaler at Children’s Island.The successful landing was greeted by jubilant shouts from CyPhy Works and UPS employees on t...
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2016
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Beijing’s sizzling apartment-rental market cooled in August following three consecutive months of rises in both transactions and prices, the Beijing Morning Post reported on Thursday.Transactions related to rental apartments decreased by 6.8 percent in August over July, while the average rent was on par with that of July, at 4,762 yuan ($713) per unit, according to the market research institute of Chinese real estate service B.A.&5I5J Group.One-bedroom apartments were the most popular, accounting for 30.8 percent of all transactions last month, an increase of 0.5 percentage points over Jul...
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2016
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U.S. economic officials held the key interest rate steady at a near-record low level Wednesday, but said the case for raising rates "has strengthened."Many experts interpret that as a signal the U.S. Federal Reserve may boost interest rates in December. The Fed repeated a pledge that whenever it begins to increase borrowing costs, it will do so gradually.Central Bankers use low interest rates like an accelerator pedal to boost economic growth, and higher interest rates sort of like a brake to keep the economy from crashing into high inflation or unrealistic stock values.The Fed decis...
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2016
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