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By Saikat Chatterjee | HONG KONG HONG KONG Asian stocks declined for a third consecutive day on Friday as fresh falls in commodities raised concerns about the health of the global economy, though the euro bucked the broad weakness on receding concerns about France’s presidential election. Chinese stocks led regional losers, falling to a three-month low as concerns about tighter financial regulations weighed on banking shares while […]

BEIJING China has ordered private think tanks to register with the authorities, who will also keep tabs on research activity, under new rules published by state media, the ruling Communist Party’s latest move to stamp its authority on intellectual bodies. President Xi Jinping has overseen a drive to place the party back at the centre of China’s media, academia and charities, while cracking down on civil society […]

SHANGHAI China’s home-grown C919 passenger jet is set to take to the skies on its long-delayed maiden flight on Friday, a major step for Beijing as it looks to boost its profile in the global aviation market. The narrow-body aircraft, which will compete with Boeing’s (BA.N) 737 and the Airbus (AIR.PA) A320, is a key symbol of China’s ambitions to muscle into a global jet market estimated […]

Commodities futures in China are diving further, led by another large drop in the price of iron ore to a six-month low. Iron ore futures were down by their daily limit of 8 per cent on the Dalian Commodity Exchange at Rmb458.5 ($66.48). Yesterday, futures were down by as much as the daily limit, before easing to close 5.3 per cent lower. Dalian coking coal futures were […]

GENEVA The United States will shoot itself in the foot if it quits the Paris climate accord because China, India and Europe will snap up the best power sector jobs in future, U.N. Environment chief Erik Solheim said on Thursday. U.S. President Donald Trump is expected to announce as early as next week whether he will take the United States out of the climate pact, having vowed […]

By David Brunnstrom | WASHINGTON WASHINGTON U.S. Secretary of State Rex Tillerson met Southeast Asian foreign ministers on Thursday to seek their support in pressing North Korea to give up its nuclear and missile programs. Tillerson’s first meeting with all members of the 10-nation Association of Southeast Asian Nations will also address another pressing regional issue – China’s assertive pursuit of territory in the South China Sea, […]

Authored by 720Global’s Michael Lebowitz via RealInvestmentAdvice.com, “History has not dealt kindly with the aftermath of protracted periods of low risk premiums” – Alan Greenspan The ability to see beyond the observable and the probable is the most important and under-appreciated characteristic of successful investors. For example, visualize a single domino standing upright. With this limited perspective, one can establish what the domino is doing in the […]

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One of the EU’s most senior officials has called for a ceasefire in the verbal hostilities over Brexit with Theresa May, warning that looming talks could become “impossible” if calm is not restored. The intervention by Donald Tusk, European Council president, marks a concerted effort to defuse escalating tension between Brussels and London after the UK prime minister accused EU officials of trying to sabotage her election […]

Prince Philip, Queen Elizabeth’s stalwart companion during six decades on the throne, is to step down from his public duties from the autumn, Buckingham Palace announced on Thursday. The Duke of Edinburgh’s decision was taken with the support of the Queen, the statement said. London was earlier gripped by speculation of an imminent announcement after reports senior staff of the royal household had been called to the […]

MANILA Philippine President Rodrigo Duterte said on Thursday his telephone conversation this week with Chinese leader Xi Jinping to discuss the Korean peninsula crisis was at the behest of his U.S. counterpart Donald Trump. Duterte said he spoke with Xi on Wednesday to convince him to play a bigger role in defusing tension in the Korean peninsula after North Korea test fired another missile early on Saturday. […]

As noted earlier, while European stocks and US equity markets have ignored the commodity crash in China, which in addition to iron ore plunging limit down, also saw rubber tumble 7% lower, and steel rebar, coke, coking coal plunge over 6% …   … Axiom’s Gordon Johnson warns (as we did a month ago) that the worst is yet to come, and in fact, the “backdrop of […]

BEIJING The European Union wants China to help prevent migrants and refugees using Chinese-made inflatable boats to get into the bloc by stopping the boats reaching them, the European Commissioner for Migration said on Thursday. Dimitris Avramopoulos, speaking to reporters in Beijing after meeting Chinese Minister for Public Security Guo Shengkun, said the rubber boats used by people smugglers were made in China. “The rubber boats used […]

BEIJING A dust storm enveloped a swathe of northern China on Thursday dragging down air quality and visibility and prompting warnings for children and old people to stay indoors. Spring is China’s dust-storm season, when winds whip across the Gobi Desert picking up fine sand and dust particles and dumping them along a belt of heavily populated land further south. The official People’s Daily said the worst […]

ABU DHABI // More than 300,000 people visited the Abu Dhabi International Book Fair this year for its 27th edition. The week-long event ended on Tuesday. Books worth more than Dh35 million were sold, and 1,320 exhibitors from 65 countries attended, organisers said. It was organised by the Abu Dhabi Tourism and Culture Authority under the patronage of Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi […]

MIRI: A 10m long whale, estimated to weigh about 1.5 tonnes, was found stranded on the beach at Kampung Siwak Bakam, some 30km south of the city. Villagers and Fire and Rescue Department personnel are currently trying to push the huge creature back into the ocean. Miri Fire chief Supt Law Poh Kiong said the villagers alerted his office about the incident at 7.10am on Thursday. “The […]

Digitization identified as key for region to retain leadership in global logistics landscape Dubai, United Arab Emirates, May 4 2017  Supply chain optimization took center stage at the ninth GPCA Supply Chain Conference, which took place between 2-4 May 2017 at the Rosewood Hotel in Abu Dhabi. During the event, speakers highlighted logistical efficiency as a top industry priority in the GCC as traditional supply chains across […]

China has rapidly emerged as the leading issuer of green bonds, spurring excitement among the green finance community that they will help the world’s largest emitter reduce its choking pollution. But although the amount raised is carefully tracked, how the money is being spent is less clear. China issued $36bn of green bonds in 2016, up from almost none the year before, and analysts expect it to […]

Apple CEO Tim Cook (Image: CNET/CBS Interactive) Apple CEO Tim Cook has said he remains enthusiastic about business opportunity in China, the world’s largest smartphone market, despite the company’s Greater China sales falling 14 percent year-on-year to $10.7 billion in the quarter ended April 1, from $12.5 billion in the same period last year. This figure was also down 34 percent from revenue of $16.2 billion recorded […]

By Yeganeh Torbati | WASHINGTON WASHINGTON U.S. Secretary of State Rex Tillerson on Wednesday outlined for his staff how an “America First” agenda translates into foreign policy, but did not address the Trump administration’s proposed budget cuts, which worry many diplomats. It was the first time Tillerson had addressed all employees since his first day on the job on Feb. 2, when he spoke to hundreds of […]

Sign up to receive FirstFT by email here The Federal Reserve said it believed the recent slowdown in US growth was likely to prove temporary as it stayed on course for a further increase in short-term interest rates as soon as June. The US central bank kept its target range for the federal funds rate at 0.75 per cent to 1 per cent following its latest two-day meeting. In […]

By Brendan Pierson | NEW YORK NEW YORK A former Guinea government minister was convicted on Wednesday of laundering $8.5 million in bribes that U.S. prosecutors say he took in exchange for helping a Chinese conglomerate secure mining rights. Jurors in federal court in Manhattan convicted Mahmoud Thiam, 50, of one count of money laundering and one count of engaging in transactions in property with a criminal […]

By Nick Carey and Joseph White | DETROIT DETROIT Automotive supplier Delphi Automotive Plc (DLPH.N) on Wednesday said it plans to spin off operations tied to internal combustion engines and focus on technology for electrically powered and self-driving vehicles, boosting its share price and highlighting the challenges for legacy auto industry players. Vehicles driven by humans and powered with petroleum will dominate roads from Shanghai to San […]

DUBAI // Education systems in the Middle East must improve and the root causes of youth ­unemployment have to be tackled, experts say. A panel on Wednesday responded to the findings of the Arab Youth Survey saying public schools in the region were not preparing young Arabs for the challenges of the future jobs market. “Curricula are a big problem in this region,” said Roy Haddad, director […]

North Korea’s state media published a rare criticism of China on Wednesday, saying Chinese state media commentaries calling for tougher sanctions over Pyongyang’s nuclear program were undermining relations with Beijing and worsening tensions. A commentary carried by the official Korean Central News Agency (KCNA) referred to recent commentaries in China’s People’s Daily and Global Times newspapers, which it said were “widely known as media speaking for the […]

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