China economy grows 10.2 per cent in first quarter
Beijing: China's economy grew at a 10.2 per cent rate in the January to April quarter according to the country's National Bureau of Statistics.

Zheng Jingping, the bureau's spokesman said "National economic and social development is upbeat. However, it should be noted that there are prominent problems that call for our attention, such as rapid growth in investment in fixed assets and of bank loans," he said.

Fixed asset investment in the first quarter was up 27.7 percent compared with 25.7 percent growth for all 2005.

"If the economy develops too fast because of naked pursuit of growth, we will be punished by the laws of economics and the laws of nature," Zheng said.

China's economy expanded 9.9 percent in 2005, and early this year, the government set itself a modest goal of about 8.0 percent growth for 2006.
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Apple registers strong results
San Jose: Apple Computer has reported strong first quarter revenue and profits on the back of strong computer and iPod shipments.

The company said net quarterly profit totaled $410 million on first quarter revenues totaling $4.36 billion. The results were ahead of last year's totals of $3.24 billion in revenue and $290 million in net profits. First quarter 2006 profits worked out to $0.47 per diluted share.

Steve Jobs Apple CEO said the company has generated more than $10 billion in revenue and nearly $1 billion in earnings during the first half of 2006.
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