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The article focuses on an increase in the number of banks in China, including Citigroup Inc.'s Citibank and Bank of China Ltd. that have launched private banking programs which cater to the nation's newly rich and offer them their own bankers to help keep and increase their wealth. Analysts estimate that there are 320,000 super rich residents in the country with assets of $1.59 trillion and that private banking will become a large revenue generator in the future for the country's banks.

The article discusses the reasons for increases in oil prices. It is suggests that the cause is a shift in the global energy system that has been 25 years in the making: the world's demand for oil has increased faster than the industry's ability to meet that demand. Big forces that combined to create this crunch include the Organization of Petroleum Exporting Countries' obsession with avoiding market crashes, Big Oil's emphasis on profits over finding oil, China's new oil addiction, America's old one, and the new role of investors in energy markets. The article focuses on decisions by individuals around the world who influenced the energy market, including a Saudi minister, a British oil baron, and a Beijing yuppie.

This section offers world news briefs as of August 14, 2010, including the rise of food prices in Russia following the droughts that led to forest fires, the release of suspected Israeli spy Uri Brodsky on bail after his detention in Germany over his role in the assassination of a Hamas leader in Dubai, United Arab Emirates, and the sentence of two Malay brothers for torching a Christian church amid a dispute over the use of the word Allah by non-Muslims to refer to God.

The article reports on the concerns raised by foreign business executives against China with respect to policies that they feel put them at a disadvantage against Chinese competitors or compel them to transfer valuable technology to China.

The article reports on the statement of Chinese Foreign Minister Yang Jiechi that the U.S. should be the first to make a move to restore their relations after the exchange rate, the arms sales of the U.S. to Taiwan and the visit by U.S. President Barack Obama to the Dalai Lama created a tension between them.

The article reports that the Shanghai Public Security Bureau of China was given the January 11, 2010 deadline to submit to local prosecutors the results of its investigation into the crimes allegedly committed by four employees of the Australia-based Rio Tinto PLC. Bribery charges were filed against the employees in August 2009. The case against the employees is said to be threatening to damage the relationship between China and Australia.

The article reports that foreign businesses in China are protecting themselves following the arrest of four employees of the mining firm Rio Tinto. It is noted that the arrest prompted questions concerning the boundaries of acceptable commercial behavior in the country, as well as the cost of overstepping the line. According to lawyers who are familiar with the legal system of the country, the case will most likely proceed as a commercial-crime matter.

This article discusses the failure of a bid of Aluminum Corp. of China to boost its stake in Anglo-Australian mining company Rio Tinto in 2009. It attributes the failure to an increase in commodity prices that resulted to new investment opportunities for Rio Tinto. It also indicates the availability of funds as the credit crisis eases. In addition, the article notes the plan of Aluminum Corp. to pursue other means to expand its business.

The article reports that People's Bank of China cut interest rates for the third time in six weeks as of October 2008 which intensifies efforts to shore up confidence as the global economic slowdown takes a toll on a wide swath of its companies. It says that the economic growth of the country could slow even more sharply in coming quarters as the domestic housing market freezes up and demand for exports decreases. Vincent Chan of Credit Suisse Group stresses the need for China to come out with a big fiscal response to stabilize investor expectations.

The article reports that China increased electricity prices for the second time in two months, highlighting its problems in supplying its booming economy with energy in 2008. The National Development and Reform Commission announced a price increase of 0.02 yuan per kilowatt-hour or about 5%. Retail prices remained unchanged to protect consumers and business from higher costs but the rise affects grid operators in the middle. In July 2008, electricity prices were already raised by 4.7%, which was not enough to cover costs for coal to generate electricity.

The article reports on flooding in areas of China that were damaged by the earthquake on May 12, 2008. Floodwaters released from the Tangjiashan river on June 10, 2008 washed over low-lying areas in the Beichuan County in Sichuan Province, home of the Qiang minority and a place of most intense damage. Beichuan Communist Party Secretary Song Ming describe relocation plans.

The article reports on the neglect among international political leaders to address the increases in oil prices. It notes that political leaders in the U.S. and China appear to have a lack in energy strategies despite the negative impact of the increases on business and consumers. It adds that Western leaders do not have the capability to boost global oil supply nor control demand. It mentions that the increase in demand for oil comes from emerging countries wherein oil prices are kept low for fear of social and economic turmoil.

The article reports that China's college students are more likely to support nationalistic causes. Students see patriotism as best expressed by supporting China's leadership for the progress it has attained in developing China's economy and improving its international reputation. Students rallied against foreign criticism of Beijing's policies in Tibet and they have praised the government's response to the devastating earthquake. Beijing students have also volunteered to provide logistics for the Olympic Games which they view as a national triumph.

The article reports that China is in the process of reevaluating construction practices in the wake of the May 12, 2008 earthquake that left an estimated 5 million people homeless. It states that the situation was exacerbated by substandard construction, with the tremors exceeding the level foreseen by government building codes. The article says that although China's building codes are at par with western countries, problems with builders who do not follow rules, the construction boom and the quality of materials are to be blamed for the destruction.

The article reports on the nationwide observance of three days of mourning declared by the government of China for the victims of the earthquake that devastated the Sichuan province. It states that the mourning period was announced in the midst of rescue efforts in Yingxiu, a town inhabited by 12,000 people near the earthquake's epicenter. It is also noted that the torch Relay for the 2008 Olympics in Beijing was suspended and that silence will be observed at 2:28 p.m. during the days of mourning.

The article reports on the criticisms against the school designs in China after an earthquake hit China in May 2008. The earthquake caused the deaths of several people including school children killed in school buildings that collapsed. The design and construction of school buildings has been questioned as school buildings collapsed in areas where surrounding buildings remained largely intact. The Minister of Housing and Urban-Rural Construction, Jiang Weixin, says that the possibility of the poor construction of the school buildings cannot be excluded.

The article reports on the warning issued by analysts that the decision of China to increase fuel prices could lead to increase in other energy prices that could affect China's poorer residents. The Chinese government implemented a ten percent increase in prices of gasoline, diesel and other fuels which spurred investor enthusiasm for China's biggest oil companies.

The article reports that U.S. President George W. Bush is calling for economic powers to reduce their greenhouse-gas output, which has reduced a major impediment to joint efforts against global warming. The President aims to draw in emerging giants like China and India, which were exempted from making emissions cuts under the 1997 Kyoto Protocol. The plan also aims to set a global emissions-reduction goal by the end of 2008.

This article reports on the steps taken by the Chinese government to address the crisis concerning food safety within the country. Zheng Xiaoyu, former head of the State Food and Drug Administration, was sentenced to death for receiving bribes of cash and gifts from several pharmaceutical companies during his tenure. The government also announced the implementation of a food-recall system to address recurring food-safety problems.

The article discusses the efforts of the Chinese government to capitalize on corporate and governmental efforts to curb global warming.

This article reports on the sale of a stake in Anglo American PLC to Chinese billionaire Larry Yung by E. Oppenheimer & Son in London, England.

This section presents world news briefs, such as the Chinese government concern about possible overheating of the economy.

The article presents international news briefs, such as the move of the Chinese government to close down several newspapers and the growth rate of South Korea's economy in the fourth-quarter of 2005.

Reports that OAO Yukos CEO Steven Theede has stated that the output of the oil company had begun to decline and investments would be required to maintain production.

The article reports that the devastating earthquake which struck Sichuan Sheng, China has exposed the wide social and economic inequalities in that country. The earthquake's worst effects and greatest death toll took place in the region's smaller cities and towns. These relatively undeveloped communities had many structures which did not meet China's building-safety laws. Compliance with and enforcement of those codes happens mostly in the larger, affluent coastal cities.

This article suggests that the world economy will be able to withstand oil prices that reach $100 a barrel if certain conditions remain. The authors say that prices need to rise gradually and oil-rich nations would have to put some of their profits back into the U.S. and European economies. The reasons that the world has so far managed high oil prices are outlined and how this situation differs from the gasoline shortages during the administration of U.S. President Jimmy Carter are presented.

This article discusses petroleum oil prices during September of 2006. Crude oil had reached $77 per barrel during August of 2006, but the price of oil fell to $63.76 per barrel on September 12, 2006. The author notes that the falling cost of oil may help defray the economic inflation taking place in the U.S. at the time.

This section offers news briefs on the international financial market which include a slight drop in the Asian stock markets on January 3, 2011, a plan of the Swiss government to hold a roundtable meeting representatives of Switzerland's banking, machinery and tourism industries, and a loan contract signed by Brightoil Petroleum (Holdings) Ltd. with China Development Bank.

The article reports on a tentative deal signed between Nigeria and China to develop three oil refineries in the former in 2010.

The article reports on the decision of Chinese officials to formally indict four executives of Rio Tinto PLC on charges of bribery and obtaining commercial secrets from several steel enterprises.

The article focuses on the decision of China to suspend military exchanges with the U.S. in retaliation for an American arms sale worth 6.4 billion U.S. dollars to Taiwan, which is said to affect the military ties between the two nations.

The article reports on the Great Prophet 4 short-range missile test conducted by Iran on September 27, 2009 prior to talks on its nuclear program. Iran opted to test its missiles following the revelation of its uranium-enrichment plant hidden in Qom. According to diplomats familiar with the nuclear talks, the discovery of the facility has given negotiators from the U.S. and allies greater advantage in convincing Iran to agree to a freeze-for-freeze proposal. Iran also announced a missile test in 2008 while under pressure to accept the proposal.

The article reports that Asian units of the American International Group Inc. (AIG) tried to calm the fears of its customers in the wake of the troubles of their parent company AIG. AIG Asian units said on September 16, 2008 that they are independent and have sufficient capital to pay for policy claims. As reported, AIG customers outside of the U.S. comprise about 79% of its premiums for life insurance and retirement services in 2007.

The article reports that closures of pollutant-generating factories in China will continue as the government struggles to ensure good air quality for the 2008 Beijing Olympic Games. More than 40 factories are set to be closed in addition to 47 others that closed down in 2007 according to the Xinhua news agency. Officials are reportedly reluctant to release details as it may dampen economic investment. Chinese official Du Shaozhong said that other anti-pollution measures will be taken in time for the opening of the games on August 8, 2008.

The article contemplates on the impact on Asian economies of the announcement by North Korea that it detonated a nuclear device on October 9, 2006.

Reports on the plan of oil company BP PLC to buy a stake in China Aviation Oil Corp.