Business -- June 1, 2006

• Africa urged to "look east" as Asia booming
• China moves to curb rising drug and medical service prices
• China to build four strategic oil reserve bases in 2008
• China to develop, open up Tianjin-based Binhai new area
• Chinese government to buy 70 billion yuan worth of vehicles

• Ethiopian Airlines resumes Entebbe-Nairobi service
• Ethiopia's exports to Sudan on the rise
• Oil prices fall below 72 dollars before energy stocks report
• PBOC to curb loan growth
• Roundup: Vietnam to open up services market to U.S. companies

• Soviet aircraft carrier to remain theme park after auction
• U.S. Fed document shows it may raise interest rate next month
• World Economic Forum official: Africa has to be rebranded