November 17th, 2011
09:03 AM GMT
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China has reported a dramatic decrease in rural poverty over the last decade.

The number of rural citizens living below the national rural poverty line fell from 94.2 million people (10.2% of the rural population) in 2000, to 26.88 million (2.8%) last year, according to figures released Wednesday by China’s State Council. FULL POST

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Filed under: Business

November 17th, 2011
06:32 AM GMT
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(CNN) – Twenty years after the fall of the Soviet Union, Russian business is dominated by a handful of men known simply as the oligarchs.

In the 1990s many of them carved up Russia’s newly privatized state-owned assets. Huge fortunes were built as the Red Empire collapses around them, and Russian oligarchs joined the world’s super rich.

Among them is Oleg Deripaska. He was still a student at the start of the 1990s, but his rise was meteoric. By the end of the decade, the nuclear physics graduate from Moscow State University controlled most of Russia’s aluminum industry and his company, Rusal, is now the world’s biggest producer.

In an exclusive interview with CNN, he talks about the role of Russia in the EU crisis, and whether Russia is underperforming the rest of the developing world.

Filed under: BusinessGlobal Exchange

November 17th, 2011
05:33 AM GMT
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Hong Kong, China (CNN) – A nearly 9-hour flight delay turned into a standoff at Hong Kong airport Wednesday, with passengers refusing to leave the plane for 5-hours until the airline agreed to higher compensation.

The incident underscores just how high tensions can rise in modern air travel with passengers and airlines jockeying it out in a low-frill, high-fee world. There is no global standard for passenger compensation in the case of airline delays and wide gulf can exist between passenger expectations and airline offers.

When Hong Kong Airlines flight 752 from Singapore arrived at 530 a.m. Wednesday morning, the airline says 80 passengers refused to get off. The travelers, mainly members of package tours from mainland China, demanded the airline increase the original compensation offer of $50 per passenger.

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Filed under: Air industryAsiaBusinessChina

November 17th, 2011
01:02 AM GMT
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Editor's note: "Along the Silk Road" is a weekly segment on Global Exchange, that will explore the burgeoning trade and investment links from the Middle East to Asia. Watch Global Exchange, on CNN International, Sunday to Thursday 1100 ET, 1600 GMT and 1700 CET.

Dubai (CNN) – It is a trade link dating back half a century - spreading from the far reaches of Asia to Africa.

From caravans carrying loads of goods across the deserts of the Middle East to ships sailing precious cargo to Europe, the ancient Silk Road is now being reborn and rebuilt.

One man who is following the progress of its growth is Ben Simpfendorfer - author of the Silk Road Economy.

CNN’s John Defterios met with him in the financial heart of the Middle East, Dubai, and asked him about the significance of these new trade links.

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