Few state-owned units

BEIJING: Less than half of the top 500 manufacturing companies in officially communist China are actually state-owned. Only 220 of the biggest enterprises in the manufacturing industry are directly controlled by the state. The rest divide themselves between genuinely private companies and a less clear-cut category of collective enterprises. — AFP

Eurozone economy

BRUSSELS: The eurozone economy is booming, but the good times may prove to be shortlived, with a potent combination of factors due to bite into growth in the coming months. Usually the laggard of the world’s major economies, the eurozone outpaced Britain, Japan and US in the second quarter, when the bloc’s economy expanded by 0.9 per cent over one quarter and 2.4 per cent over one year. The eurozone economy had not grown as fast since the peak of the dot.com boom. — AFP

HK economy to grow

HONG KONG: Hong Kong’s economic growth is likely to have moderated in the second quarter, as a slowdown in the US, its biggest trading partner, hurt the territory’s exports. Seven economists polled by Dow Jones Newswires expected an average of 6.1 per cent growth in GDP during the second quarter of 2006 from a year earlier. — AP

Hydro mart today

KATHMANDU: With a view to promote investment in small and medium-sized hydro-power projects, a three-day long ‘Hydropower Invest Mart 2006’ is being organised in Kathmandu from Monday. Organised jointly by the Confederation of Nepalese Industries (CNI), Small Hydropower Promotion Project-GTZ and Winrock International, the mart will bring together all players in the hydropower sector like policy makers, entrepreneurs, investors, regulatory bodies, power purchasers and distributors, insurance agencies, hardware suppliers, contractors and others in a common platform. — HNS

Chattan cement

KATHMANDU: Siddhartha Cement Industry Pvt Ltd has brought Chattan brand of cement in the market. Siddhartha Cement has also increased its production capacity to 8000 sacks a day from the existing 3,000 sacks, states a press release. The company has been producing and marketing Siddhartha cement. — HNS

WB raises forecast

SHANGHAI: The World Bank on Tuesday raised its 2006 growth forecast for China’s sizzling economy to 10.4 per cent from 9.5 per cent, saying the outlook was positive though high investment levels posed risks. In its latest quarterly update on China, the Washington-based group also revised its projections for growth in 2007 to 9.3 per cent from 8.5 per cent. “The outlook for China’s economy remains favorable,” it said. — AFP

Brunei economy up

BANDAR SERI BEGAWAN: Oil-and gas-rich Brunei’s economy grew at an average annual growth of two per cent from 2000 to 2005, with per capita income rising to $27,324.

The department of economic planning and development revealed it has revised the way it calculates the tiny Islamic monarchy’s GDP.

Per capita income for the kingdom’s 350,000 people surged from $31,800 in 2000 to $42,900 in 2005, one of the highest in Asia. — AFP