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Chinese leasing companies have taken ownership of hundreds of vessels in deals worth tens of billions of dollars in the latest sign of the industry’s rapid transformation amid a long-running financial crisis. The deals made by Chinese companies, including the leasing businesses of ICBC, China Minsheng Bank and Bank of Communications, have provided badly-needed financing for shipowners as miserable trading conditions dominate most shipping sectors. Although there […]

Saudi King Salman’s stop in the Maldives on his month-long tour of Asia brings into focus how this tiny archipelago – best known for high-end tourism and an existential battle against climate change – has emerged as a key player in a regional struggle for influence. Both Riyadh and Beijing are currying favour with the strategically located 820km-long chain of Indian Ocean atolls, in efforts analysts believe […]

Eldridge Industries, the U.S. owner of Dick Clark Productions Inc, said on Friday that one of its affiliates terminated an agreement to sell off the TV production company to Chinese conglomerate Dalian Wanda Group. Eldridge, which also owns magazines such as the Billboard and the Hollywood Reporter, said the affiliate terminated the agreement after Wanda failed to honor contractual obligations. In February, Reuters reported that Dalian Wanda’s […]

BEIJING The number of corruption cases heard by Chinese courts jumped by about one-third last year, as the country’s top prosecutor vowed on Sunday there would be no let up in China’s campaign against deep-seated graft. Since assuming office more than four years ago, President Xi Jinping has waged war on corruption, warning, like others before him, that the problem is so bad it could affect the […]

Authored by Federico Pieraccini via The Strategic Culture Foundation, While the world continues to decipher, or digest, the new Trump presidency, important changes are afoot within the grand strategic triangle that lies between Russia, Iran and China Away from the current chaos in the United States, major developments are progressing, with Iran, Russia and China coordinating on a series of significant moves crucial for the future of […]

When Rex Tillerson visits Japan and South Korea next week, the new US secretary of state will not escape the whispers back home: the former ExxonMobil chief executive has been all but invisible since arriving in Washington. In his first weeks as the top US diplomat, the Texan has been conspicuously low-profile. His silence has fuelled concerns that President Donald Trump intends to downgrade diplomacy — and […]

A Chinese property developer constructing a huge housing project in southern Malaysia has become the latest corporate victim of Beijing’s crackdown on capital flight. Country Garden has closed showrooms in mainland China for its flagship $100bn Forest City development in response to measures by Chinese regulators that have made it harder for individuals to move money out of the country. A slowing Chinese economy, rising US interest rates […]

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“It sucks,” says Mike Mayo. One of the more visible Wall Street analysts, Mr Mayo lost his job last week when CLSA, the Chinese-owned broker which had employed him, abruptly shuttered its US research operations. At 4.15pm last Monday, as Mr Mayo tells it, he was summoned to an all-hands meeting. At 4.20pm he and 89 others were let go. He went to FedEx to buy nine […]

By Phil Stewart and Idrees Ali | WASHINGTON WASHINGTON The U.S. military said on Friday it plans to forge ahead with building the THAAD missile defence system in South Korea, separating the issue from a political crisis in Seoul that saw President Park Geun-hye’s removal from office on Friday. The United States started deploying the first elements of its advanced anti-missile defence system in South Korea on […]

Like millions of young readers around the world, Chinese children have grown up with popular titles such as Roald Dahl’s Fantastic Mr Fox and the Harry Potter series. But Beijing is now introducing new measures to restrict access to foreign books and publications as it opens a new front in its battle to limit outside influence on Chinese society. Regulators have given verbal instructions to publishers to […]

A global research team has built five new synthetic yeast chromosomes, meaning that 30 percent of a key organism’s genetic material has now been swapped out for engineered replacements. This is one of several findings of a package of seven papers published March 10 as the cover story for Science. Led by NYU Langone geneticist Jef Boeke, PhD, and a team of more than 200 authors, the […]

BEIJING/SYDNEY/TAIPEI China said it would “resolutely strike” against the “Dalai Lama clique’s separatist activities” as protesters planned demonstrations in major world cities on Friday to mark the anniversary of a Tibetan uprising against Chinese rule in 1959. The sensitive anniversary coincided with the yearly news conference of Tibet’s delegation to China’s annual meeting of parliament, under way in Beijing. Che Dalha, Tibet’s governor, said the government would […]

D.C. bureau chiefs from major news organizations, including The New York Times, The Washington Post, The Wall Street Journal, the wire services, Fox News and CNN sent a letter to the State Department earlier this week protesting Secretary of State Rex Tillerson’s decision to ditch reporters on his upcoming trip to Asia. “We were deeply concerned to hear that Secretary Tillerson plans to travel to Beijing, Seoul […]

By Christian Shepherd | BEIJING BEIJING Doubling China’s Lunar New Year break, labelling Chinese cuisine “intangible cultural heritage” and restricting foreign influence in schools are among the patriotic recommendations made by delegates at this year’s meeting of Chinese parliament. Many of the 3,000 delegates from across China currently in Beijing for the 10-day meeting of the National People’s Congress, closing on Wednesday, came armed with proposals for […]

Friday 06:00 GMT Overview Asian markets were broadly positive on Friday as South Korea’s president was formally impeached, while Treasuries remained under pressure ahead of the US jobs report that could fuel expectations the Federal Reserve will raise interest rates next week. European bourses are expected to open higher, with spreadbetters predicting the UK’s FTSE 100 will add 20 points to 7,335 and Germany’s Dax to climb […]

China’s Uber rival Didi Chuxing announced that it has officially opened its first US-based research and development lab in Mountain View, California this week. Didi Labs will seek out engineering talent and focus on artificial intelligence (AI)-based security and intelligent driving technologies, according to a statement made by the company. Founder, chairman, and CEO of Didi Chuxing, Cheng Wei said the company’s vision is to build an […]

The cost of shorting shares of Snap has fallen sharply as bets against the owner of the messaging app slowed and the share price rallied. Snap’s stock has rebounded in recent sessions after selling off earlier in the week as several analysts’ reports expressed scepticism about the group’s valuation, which had surged above $30bn in the initial euphoria following its high-profile listing last week. At midday in […]

Via Damiel Lang of SHTFPlan.com, Since the end of World War Two, the United States has established itself on every continent with hundreds of military bases, and has sent troops to foreign nations (both covertly and overtly) on so many occasions that it’s difficult to keep track of them all. And this doesn’t even take into account the nations that our government has quietly and successfully pressured […]

By Adam Jourdan and Eric Walsh | SHANGHAI/WASHINGTON SHANGHAI/WASHINGTON China has granted preliminary approval for 38 trademarks linked to Donald Trump, documents on China’s state trademark office show, giving the U.S. President and his family protection were they to develop the “Trump” brand in the market. The trademarks – which in theory cover a wide sweep of businesses from hotels to mobile libraries and escorts – underline […]

|By Matein Khalid| Janet Yellen confirmed the Wall Street consensus that the Federal Reserve will raise its overnight borrowing (Fed Funds) rate at the March FOMC. Wage growth, inflation, crude oil, asset prices, economic data momentum and Trump’s fiscal stimulus all reinforce the dual mandate logic of a rate hike. Only a really awful February non-farm payroll shock (consensus is 200,000 jobs) will avert a rate hike […]

Philippine President Rodrigo Duterte said on Wednesday that he made the right decision to rekindle ties with neighboring China and expressed his gratitude toward the Chinese people. “I thank China profusely, and they have really lightened up the economic life of our country,” said Duterte in a speech delivered during the 10th Philippine Councilors League National Congress held in Pasay City. “You can really feel the sincerity […]

Snap, the first big tech listing since Alibaba in 2014, has already experienced the highs and lows of the stock market in the week since its NYSE listing. Shares on Wednesday closed at $22.81, down from a high of $29.44 last week, but still above the $17 IPO price. That performance, along with doubts over corporate governance, has raised questions over if, rather than when, Snap will […]

George Osborne will earn £650,000 a year for working four days a month at BlackRock, more than ten times what he is paid as an MP once expected share awards from the world’s largest fund manager are included. The detail of Mr Osborne’s pay at BlackRock, which he agreed to join as an adviser earlier this year, was disclosed in the register of members’ financial interests at […]

For many, South Korea’s decision to host a missile shield to defend against its hostile northern neighbour should not be controversial. In the past month alone, North Korea has fired six ballistic missiles, with a barrage of four successful launches on Monday trumpeted by Pyongyang as being a drill targeting US bases in Japan. But in a region riven by simmering historical grievances, Seoul’s move has sparked a bitter […]

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