World Bulletin / News Desk
China's job market could turn for the worse and the government needs to step up efforts to create more jobs, Premier Wen Jiabao said in remarks published on Wednesday, underscoring official concerns about an economic slowdown.
"Currently and in the future, China's employment situation will become more complex and more severe," the official China Securities Journal quoted Wen as saying.
"The task of promoting full employment will be very heavy and we must make greater efforts to achieve it," he added.
Compared with 2008/09 when a sudden collapse of exports sent some 20 million Chinese migrant workers homebound, China's job market has remained relatively tight so far this year, partly reflecting the country's demographic shifts.
But job cuts could be on the rise as small- and mid-sized exporters are increasingly struggling with slackening orders, rapid wage increases and higher raw material costs.
Many college graduates are struggling to find jobs.
Maintaining social stability is crucial for Beijing as the country heads into a once-in-a-decade leadership transition.
Wen called for all levels of government to give top priority to job creation when they formulate economic plans and more jobs should be created during the process of economic restructuring and urbanisation.
"We need to maintain steady and relatively fast economic growth to help create jobs," Wen said.
A parliamentary meeting on Tuesday concluded that China's economic recovery is not solid, and that Beijing needs to boost investment to bolster flagging economic growth but spending must be adjusted to avoid waste.
China's annual economic growth slowed to 7.6 percent in the second quarter, just above the government's 7.5 percent full year target and the weakest quarter since Q1 2009 when the global financial crisis choked world trade flows and saw 20 million Chinese jobs axed in a matter of months.
The project is being implemented in collaboration with the Ethiopian and Norwegian governments at a cost of over $2.8 million.
Kerry will be heading the U.S. team at the annual Strategic Dialogue with India on Thursday, and will be accompanied by U.S. Commerce Secretary Penny Pritzker.
A total of $610.6 million has been allocated for the implementation of the Ethiopian part of the project, with the funds coming from the Ethiopian government, international financial institutions and donor organizations.
Cukurova Holding to pay back $1.57 billion loan to rival shareholder Alfa by August 1, or face losing control of mobile phone operator
In March, Sweden was among the donor countries that had announced aid cuts to Uganda after the signing of the anti-homosexuality law
A Moscow court told Reuters a regional branch of Rospotrebnadzor had asked it to declare production and sales of some McDonald's products illegal after the watchdog agency carried out inspections of McDonald's restaurants last June.
Although the likely consumer is Europe, which would require pipelines to pass through Turkey, companies may decide instead to export gas from the Levant basin to Jordan, Egypt or the Asian continent.
The ambassadors did agree to add more people and entities to the EU's asset freeze list, using expanded criteria including Russian companies that help to undermine Ukraine's sovereignty
Washington has pressured companies and governments not to buy crude from the Kurdish Regional Government (KRG), but it has stopped short of banning U.S. firms from buying it outright.
The whistleblower's email said GSK used its own employees and Syrian distributor Maatouk Group to make illicit payments.
The hackers broke into a database storing details of people who had registered for ECB conferences, visits and other events, the bank said.
Russia generated $356 billion from oil, gas exports last year, data shows.
While stopping far short of targeting physical energy supplies, EU ministers for the first time this week raised the idea of restricting Russian access to oil and gas technology.
They were among nine organisations and three people added to the EU's Syria sanctions list, published in the bloc's Official Journal
Land reform remains a sensitive issue in South Africa, where 20 years after the end of apartheid the white minority still holds around 87 percent of commercial farm land.
Talks are reportedly underway for a number of investment projects, including in pharmaceuticals and automotive assembly, but no final investment agreements are expected this week.