latest world business news

China's economic growth rose in the fourth quarter of 2012, helping the world's most populous nation end the year with a growth rate of 7.8%, according to figures released on January 18, 2013 from the National Bureau of Statistics. Last quarter, China's economy grew at a pace of 7.9%, slightly better than analyst expectations and breaking a pattern of seven straight quarters of decline.  China's growth rate had been steadily falling since the fourth quarter of 2010, when economic output grew 9.8%. The slowing growth rate bottomed out in the third quarter of 2012, when China's economy only grew at 7.4%.  Last March, Chinese Premier Wen Jiabao lowered the country's 2012 growth target from 8% to 7.5%. While such growth would be the envy of most nations, China's economy has grown at an average rate of about 10% each year for the past 30 years. This has helped propel China to become the world's second largest economy, just behind that of t

Imran Khan with his sons  Sulaiman Isa and Kasim Imran Khan is the world famous cricketer and now also politician born on 25 November 1952 in Pakistan. He played international cricket for two decades in the late twentieth century and, after retiring, entered politics. Besides, his political activism, Khan is also a philanthropist, cricket commentator, Chancellor of the University of Bradford and Founding Chairman Board of Governors of Shaukat Khanum Memorial Cancer Hospital & Research Centre. Imran Khan batting He was Pakistan's most successful cricket captain, leading his country to victory at the 1992 Cricket World Cup, playing for the Pakistani cricket team from 1971 to 1992, and serving as its captain intermittently throughout 1982–1992. After retiring from cricket at the end of the 1987 World Cup in 1988, due to popular public demand he was requested to come back by the president of Pakistan to lead the team once again. At 39, Khan led his team to Pakistan'

Aaron Swartz, an Internet savant who at a young age shaped the online era by co-developing RSS and Reddit and later became a digital activist, has committed suicide.  Swartz's body was found Friday evening in Brooklyn, said Ellen Borakove, a spokeswoman with the New York medical examiner's office. The 26-year-old had hanged himself in his apartment. His family and partner said they were "in shock, and have not yet come to terms with his passing." "Aaron's insatiable curiosity, creativity, and brilliance; his reflexive empathy and capacity for selfless, boundless love; his refusal to accept injustice as inevitable -- these gifts made the world, and our lives, far brighter," they said in a statement. "We're grateful for our time with him, to those who loved him and stood with him, and to all of those who continue his work for a better world."  A prodigy, Swartz was behind some of the Internet's defining moments, soaring to h

South Korea has increased its budget to fund North Korea-related projects this year, government data showed on Thursday, with a new president seeking closer relations due to take office in Seoul and signs of an opening from Pyongyang. South Korea's Ministry of Unification said parliament had approved a 9.1 percent rise in the inter-Korean cooperation fund this year to 1.1 trillion won ($1.03 billion). "The last offer for talks we made to North Korea was last summer, when the North was suffering from flood damage," said Park Soo-jin, a spokeswoman for the ministry. The two Koreas remain technically at war after their 1950-53 conflict ended with a truce, not a treaty, and relations plunged under South Korean President Lee Myung-bak who cut aid dramatically after the shooting of a South Korean tourist in the North in 2008.  Lee's single term ends in February when he will be replaced by Park Geun-hye, who has pledged engagement with the isolated and impoveri