ZTE Corporation has released its financial results for 2016, reporting full-revenue of 101.2 billion yuan, an increase of 1.04 percent to the 100.18 billion yuan reported in the previous corresponding period. The Chinese telecommunications hardware vendor, which had delayed the release of its 2016 annual report to assess the impact of the Iran sanctions case, admitted it slipped to a net loss of 2.36 billion yuan in […]
SYDNEY China is not militarising the South China Sea, Premier Li Keqiang said on Friday, although he acknowledged that defence equipment on islands in the disputed waterway had been placed there to maintain “freedom of navigation”. China has drawn international criticism for large-scale building in the South China Sea, although Li told reporters in Australia the development was for civilian purposes only. “China’s facilities, Chinese islands and […]
In almost any other part of the world, a friendly, on-camera hug between two senior politicians at a public event would have raised no eyebrows. But in the febrile atmosphere of a Hong Kong bracing itself for the “election” of its fourth chief executive since the former British colony was handed back to China in 1997, Tung Chee-hwa’s embrace of Carrie Lam during a public ceremony in […]
By Silke Koltrowitz | BASEL, Switzerland BASEL, Switzerland Swiss watchmakers expect the market to stay challenging this year with the United States, their second-biggest market, showing no signs of recovering, executives told Reuters at an industry fair in Basel. Swiss watchmakers are grappling with declining sales in their biggest markets — Hong Kong and the United States — and have been hit by tourist shoppers avoiding Europe […]
The Samsung Galaxy S8 and the Galaxy S8+ are inching closer to their March 29 debut and as the expected launch nears, more details on the devices are emerging online. Close on the heels of the color options for the impending Samsung flagships surfacing online, the alleged batteries of the two handsets have made an appearance. The supposed batteries of the Galaxy S8 and Galaxy S8+ have surfaced […]
Investors rushed to participate in Volkswagen’s return to European bond markets on Thursday, with the German carmaker’s first benchmark issue following the emissions scandal attracting huge demand. The €8bn euro-denominated bond attracted €24bn of orders by late afternoon, when books were closed ahead of final pricing. Bankers said the deal was launched with a spread 15 basis points tighter than initial indications. “There was a lot of […]
By Lisa Richwine | LOS ANGELES LOS ANGELES Walt Disney Co (DIS.N) said on Thursday its board extended Chairman and Chief Executive Officer Bob Iger’s term by a year to July 2, 2019 and said he would serve as a consultant to the media giant for three years after that. This is the third time Iger’s contract has been extended. Iger first said he would retire in […]
When Flavio Evers Cassou, an employee of the world’s biggest meatpacker, JBS, dropped off a large cooler of meat at a friend’s home last year in southern Brazil, he could not have foreseen the crisis of confidence it would cause in the industry and the country’s wider corporate sector. The friend in question happened to be Maria do Rocio Nascimento, the chief inspector of products of animal […]
“Nowruz means ‘new day’ in Persian,” the president said in the statement. “It is an occasion to celebrate new beginnings, a sentiment that is particularly meaningful for so many Iranians who have come to our country in recent decades to make a new start in a free land.” Continue reading the main story Among the sections deleted were one that said America looked forward to engaging someday […]
PARIS Anglo American’s (AAL.L) diamond specialist De Beers has bought the 50 percent stake held by French luxury goods group LVMH (LVMH.PA) in De Beers Diamond Jewellers for an undisclosed sum, taking full ownership of the retail operation. Analysts said the joint venture no longer fitted LVMH’s strategy, while Anglo American, which has long dominated global rough diamond sales, has been developing its presence on the high-margin […]
The optimistic but eerie calm that had settled over the US stock market since the US election ended abruptly this week, as the longest streak of trading days without a 1 per cent decline in more than two decades finally snapped. Equities clawed back some of their losses on Wednesday but investors remain on edge. The post-election stock market rally has been largely powered by hopes the […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices recovered on Thursday from losses chalked up the session before, but the market remained under pressure as bloated U.S. crude inventories and rising output dampen OPEC-led efforts to curb global production. Brent crude futures, the international benchmark for oil, were at $50.82 per barrel at 0807 GMT, up 18 cents, or 0.4 percent, from their last close. That came […]
It is officially Lü Siqing’s year. “2017 is the Year of the Rooster,” says the celebrated violinist, proudly pointing at the Chinese calendar. Some might argue that the 48-year-old’s “year” could also be described as 1987, the year Siqing reached international prominence as the first Asian winner of the Paganini Competition – a global contest held in honour of the late Italian virtuoso Niccolò Paganini. Such an […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian stocks, taking some cues from a steady Wall Street, edged up on Thursday while the path for the dollar, which crawled up from a four-month low, remained clouded by concerns about the prospects for U.S. President Donald Trump’s pro-growth agenda. Sterling GBP=D3 was steady at $1.2483 following a decline of as much as 0.4 percent on Wednesday, after an attack […]
Two-and-a-half years ago, Nathan Law took to the streets of Hong Kong with tens of thousands of fellow students, demanding Beijing give them the right to vote for the leader of their own city government. This Sunday Mr Law will have that opportunity — but not in the way he envisaged during the “Umbrella Revolution” protests. When he was voted on to the city’s Legislative Council in […]
March 23, 2017 by: Peter Wells in Hong Kong Thursday 02.15 GMT Overview Asian markets were in a more subdued mood and making a tentative recovery from a midweek sell-off in which many global stock markets suffered their worst session since the US presidential election. A terror attack in London on Wednesday also kept investors in a cautious mood. Hot topic A jolt to global financial markets […]
Your daily guide to community and cultural activities across the Emirates for March 23, 2017, including performances, festivals, art exhibitions, film screenings, health and fitness events, talks, classes, workshops and family fun. Ellen Fortini rounds up 10 things to do today in the UAE. Want to see your event listed here? Email us with the details and contact information at [email protected] newslide Al Ain Equestrian performance Catch […]
Korea Electric Power Corp has ruled out buying Toshiba’s controlling stake in Westinghouse, but confirmed it is interested in joining the NuGen consortium that is planning to build a new UK nuclear plant. The decision by the South Korean state-run utility is a blow to Toshiba’s efforts to find a buyer for its troubled US nuclear subsidiary as the Japanese conglomerate grapples with the worst financial crisis […]
Markets now and again behave in ways least expected, none more so than the resilience of emerging market currencies against the US dollar. Two of the main factors underpinning EM foreign exchange flows — globalisation and oil — are going the wrong way. Globalisation looks more vulnerable than ever following the G20 finance ministers’ meeting that pointedly failed to include the need to fight protectionism in its […]
Dubai, 21 March 2017 Dentons, in collaboration with HKA, assembled practitioners from across a number of industries in Dubai this week to discuss how to structure a successful PPP project and how to avoid disputes avoidance and resolution on PPP projects. Dentons’ Middle East Senior Partner Neil Cuthbert discussed the essential prerequisites of a successful PPP project and the need to identify, allocate and mitigate key project […]
SHANGHAI U.S. short-term rental giant Airbnb Inc will triple its China staff this year as it targets the country’s millennial consumers, its chief executive said on Wednesday, even as the Silicon Valley firm faces competition from local rivals. Airbnb co-founder and CEO Brian Chesky said China was a key market for the firm to achieve its global ambitions. He was talking at an event in Shanghai to […]
Alibaba has kicked off its grand plan for global trade without frontiers, signing a bilateral deal designed to ease the passage of goods shipped by smaller businesses between China and Malaysia. The pact, established as a public-private partnership in Malaysia’s digital free trade zone, is focused on infrastructure, including a fulfilment centre and co-operating on electronic payments and financing. Daniel Zhang, chief executive of the Chinese ecommerce […]
SEOUL Former South Korean President Park Geun-hye left prosecutors’ offices early on Wednesday after being questioned in an investigation into a corruption scandal that brought an early end to her political career. Park did not respond to reporters’ questions as she emerged from the building after nearly 22 hours and got into a waiting car to be driven to her private home in the capital, Seoul. Prosecutors […]
SEOUL A North Korean missile launch failed on Wednesday, with the rocket exploding within seconds, the U.S. military said, the latest in a series of North Korean weapons tests to rattle its neighbours and raise tension in the region. South Korea said the apparent test launch of one missile by nuclear-capable North Korea, from the city of Wonsan on its east coast, had failed. South Korea’s defence […]
