MANILA China and Southeast Asian countries have made progress in talks on a code of conduct for the disputed South China Sea, the Philippine acting foreign minister said on Tuesday. China claims almost the entire waterway, through which about $5 trillion in sea-borne goods pass every year. Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have claims. “We have made good progress on coming up with a […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian shares inched lower on Tuesday as caution reigned ahead of a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping later this week. The dollar lost ground after investors sold stocks overnight and looked to safe havens as political uncertainty overshadowed positive U.S. economic data and solid growth in global manufacturing. European markets were also […]
Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, stands for a photograph with Camel Race Association staff during a Sea Palace barza. Seen with Dr Arif Nayed Ambassador of Libya to the UAE (back 4th R), Sheikh Tahnoon bin Mohammed, Ruler’s Representative of the Eastern Region of Abu Dhabi, and Sheikh Sultan bin Hamdan (R). Ryan Carter / […]
By Greg Torode and Michael Martina | HONG KONG/BEIJING HONG KONG/BEIJING China is steadfastly opposed to the deployment of advanced U.S. anti-missile radars in South Korea because it does not know whether the defences, intended for North Korean missiles, are capable of tracking and countering Beijing’s own nuclear programme, experts say. Beijing’s resistance to the THAAD (Terminal High Altitude Area Defence) anti-missile system put up south of […]
By Michelle Nichols | UNITED NATIONS UNITED NATIONS U.S. Secretary of State Rex Tillerson will chair a United Nations Security Council meeting on North Korea on April 28 to discuss how the body can combat Pyongyang’s banned nuclear and missile programs, U.S. Ambassador Nikki Haley said on Monday. North Korea has been under U.N. sanctions aimed at impeding the development of its nuclear and missile programs since […]
The annual Cesco Week gathering for the global copper industry starts Monday in Santiago. For the first time in five years, attendees arriving in the Chilean capital can reflect on a copper price that is higher than at the previous year’s event. However, optimism that 2017 represents a turning point in the market should be tempered by the realisation that any sustained recovery in the copper price […]
By Yashaswini Swamynathan U.S. stocks were flat on Monday, with investors awaiting the earnings season to justify high valuations, and, more immediately, the implications of President Donald Trump’s “very difficult” meeting with Chinese President Xi Jinping. Trump said in a tweet last Thursday that the meeting over the coming Thursday and Friday would be “a very difficult one” as the United States could not risk massive trade […]
SEOUL South Korea’s Lotte Group will continue to invest in its China business despite diplomatic tensions over the deployment of a U.S. missile defense system, a Lotte executive said on Monday, denying rumors it wants to scale back there. Chinese authorities closed dozens of Lotte retail stores following inspections, ramping up pressure on Korea’s fifth-largest family-run conglomerate after it agreed to provide land for the U.S. Terminal […]
TOKYO Asian shares started the week on a steady footing on Monday after a bumper quarter as investors look to the shape of U.S. trade and economic policies and how they could affect global growth. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was little changed in early trade while Japan’s Nikkei .N225 rose 0.1 percent. Ex-Japan Asia MSCI had gained 12.3 percent in the last […]
Huaqiangbei electronics market in downtown Shenzhen is a gadget geek’s paradise, selling everything from individual semiconductor chips to roll-up drum kits to hoverboards. For some, it is also the culprit for the declining fortunes of US wearable tech companies such as GoPro and Fitbit. “[Their] problem essentially is Shenzhen,” says Richard Windsor, founder of independent research company Radio Free Mobile. “It makes much cheaper cameras that are […]
Here are the main questions facing markets as a new trading week and the start of the second quarter beckons. What are the likely drivers?A host of market-moving events confront investors as the calendar flips over to April. These include France’s presidential elections and the opening salvos of the UK’s divorce from the EU. But there is also the prospect of a sustained recovery in global activity, […]
Like many Hong Kongers with family and business ties in mainland China, Ceci Chong would often carry cash back across the border — until she was stopped last summer by a Chinese customs officer. She was caught bringing Rmb100,000 ($14,500) in family savings to Hong Kong — five times the cash limit imposed by China. Her case was part of a crackdown on “financial ants”, who smuggle […]
BEIJING Subjected to daily interrogations and blocked from leaving China for more than a week, Australia-based academic Feng Chongyi arrived home in Sydney on Sunday, vowing to return to the mainland later this year to complete his research. Feng, an Australian permanent resident who retains his Chinese passport, was conducting field interviews for a project on Chinese human rights lawyers and their political aspirations. “If they wanted […]
BEIJING China called on the United States to respect international trade rules and improve cooperation and dialogue in reaction to two new orders by U.S. President Donald Trump calling for an investigation into trade abuses. Any U.S. trade enforcement measures should comply with generally accepted international trade rules and differences between the two countries should be handled properly, an unidentified spokesperson for China’s Ministry of Commerce said […]
Didi Chuxing may have defeated Uber, but China’s dominant ride-hailing platform is no match for the country’s local governments after being forced to gut its urban fleet to comply with regulations. Didi’s core business of cheap ride-hailing now faces a tough fight in the big urban markets, which it built after a bruising battle with local and foreign rivals. Uber ceded the Chinese market — its largest — […]
Chinese firm Lenovo has announced the appointment a new president for its operations in Brazil this week. Ricardo Bloj has taken over the role of president at the company, 14 months after joining Lenovo as chief operations officer. Bloj replaces Sílvio Stagni, who stepped down at the start of the year to head local IT distributor Allied. An IT veteran with over 25 years of experience, Bloj […]
SEOUL Australia-based Chinese academic Feng Chongyi said late on Saturday he had boarded a flight leaving China, ending an ordeal that saw him interrogated by authorities and delayed from exiting the country. Feng, an Australian permanent resident who retains his Chinese passport, boarded the flight from the southern Chinese city of Guangzhou and was scheduled to arrive in Sydney on Sunday morning. Flight tracking websites confirmed the […]
A handful of companies on Friday filed to go public, bolstering expectations of a strong second quarter for the US listings market after the float of Snap, the owner of the messaging app. The market for initial public offerings is heating up after a slow period. With 111 deals, last year was the weakest one for US IPOs since the aftermath of the financial crisis in 2009, […]
Those risks have been amplified by President Trump, whose administration has said it is “putting Iran on notice.” The tough talk from Washington has given early movers like Total pause, raising concerns as to whether long-awaited opportunities will materialize, or if the Trump administration will take a harder line and tighten already-complex rules on doing business with Tehran. Continue reading the main story Some major global companies […]
Your daily guide to community and cultural activities across the Emirates for March 28, 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 Abu Dhabi & Dubai Film […]
Panama has a new tourist attraction: the building hosting the offices of the Mossack Fonseca law firm at the heart of the Panama Papers scandal. That is why, workers there say, the sign announcing the firm has been taken down from where it used to be outside the dark-tinted edifice in Panama City’s modern banking district. Too many tourists were stopping to take selfies in front of […]
Silver Lake, the tech-focused private equity group, has teamed up with US chipmaker Broadcom in an attempt to acquire Toshiba’s semiconductor business for nearly $18bn, people briefed about the situation said. The Japanese company is in talks with several other potential suitors for its chipmaking unit, these people said, as it hopes that the sale will help it meet any financial shortfalls related to this week’s bankruptcy filing for […]
US farmers have signalled plans to sow soyabeans across an area the size of Germany this year, an expanse that reflects the relentless rise of meat demand in China and other emerging economies. The record 89.5m acres (36.2m hectares) of soyabean fields would follow all-time high plantings in South America, the other leading grower of the oilseed. The harvest under way in Brazil is set to surpass […]
With Adam Rawnsley Looking for a deal. Michael Flynn, President Donald Trump’s former national security adviser, has offered to be interviewed by the FBI and House and Senate investigators examining the Trump campaign’s potential ties to Russia, in exchange for immunity from prosecution, “but has so far found no takers,” according to the Wall Street Journal. In a statement on Thursday evening, Flynn’s lawyer Robert Kelner, […]
