China's Economy Grew 10.7 Percent, Closing on Germany Jan. 25 (Bloomberg) -- China's economy grew 10.7 percent in 2006, closing in on Germany as the world's third largest, fueled by investment in manufacturing and a boom in exports.
Gross domestic product expanded to 20.94 trillion yuan ($2.69 trillion) after growing 10.4 percent in 2005, Xie Fuzhan, chief of the National Bureau of Statistics, said in Beijing.
The world's fastest-growing major economy expanded at more than twice the global average as record exports swelled foreign- currency reserves to more than $1 trillion and fanned tension with the U.S and Europe. Premier Wen Jiabao wants to boost consumer spending to reduce the country's reliance on shipments overseas and avoid igniting investment bubbles.
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Maruti to Restart Diesel Car Sales on Demand in India Jan. 24 (Bloomberg) -- Maruti Udyog Ltd., the maker of half of all cars sold in India, will start selling the first model powered by its own diesel engines, challenging Tata Motors Ltd. in a segment that's more than a quarter of domestic auto sales.
Maruti will start selling the Swift hatchback with a diesel engine from tomorrow, said Jagdish Khattar, the automaker's managing director, in New Delhi today. The 1.3-liter, diesel- powered model will be priced from 468,000 rupees ($10,580), 17 percent more than the base model of its gasoline version. The higher-end version will cost 496,511 rupees.
Automakers, including Ford Motor Co. and Hyundai Motor Co., have introduced more diesel-engine cars in India to tap demand from customers who prefer the fuel because it's 30 percent cheaper than gasoline. Car sales in India may triple in the next decade as automobiles become more affordable amid higher incomes and accelerating economic growth.