Tuesday, June 02, 2009 BEIJING: China on Tuesday took up US Treasury Secretary Timothy Geithner's call to work together in battling the financial crisis as the Asian giant tries to position itself as a major force on the global stage.Beijing was eager to deepen efforts with Washington on dragging the world out of the economic slump, Vice Premier Wang Qishan told Geithner in a Monday meeting, the foreign ministry said. But state media expressed opposition to the government's policy of buying massive US debt that they said could see the value of China's assets battered as the financial crisis continues.Wang, who is in charge of China's economy, was quoted by the ministry as telling Geithner: "We will send a message that China and the United States are cooperating substantively to get over the difficult times. "This will help boost confidence and promote global financial stability and world economic recovery."The two sides further laid the groundwork for the first "strategic and economic dialogue" agreed to by Chinese President Hu Jintao and US President Barack Obama and to be held in Washington later this year. "The major task of the dialogue is to address the global economic slowdown," Wang said.Geithner is scheduled to meet Hu and Prime Minister Wen Jiabao later Tuesday, the last day of his two-day visit.
Sunday, February 28, 2010 HAVANA: Hundreds of wealthy merchants and cigar aficionados from all parts of the world gathered in Havana this week to bid high stakes for humidors full of premium cigars. Cuba's annual Habanos festival ended on Friday night with an auction of ornate humidors of cedar and mahogany stacked with hand-rolled stogies that raised 800,000 euros ($1.09 million dollars). Habanos S.A. executives this month said cigar sales fell 8 percent to $360 million in 2009, so they have created the Julieta, a smaller, milder version of the Romeo y Julieta cigar, aimed specifically at female smokers. Women now make up only 5 to 10 percent of customers for Habanos. But even with the creation of the Julieta, Garcia said Habanos has only modest hopes for 2010 sales, due largely to a weak economy in Spain, the biggest market for Cuban cigars. The flavor of premium tobacco relies on the soil and climate in which it is grown. The western province of Pinar Del Rio, famous fo...
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