Stainless steel is regaining its shine. After falling victim like many other basic industries to the global commodities downturn, companies that specialise in the rustproof metal are enjoying a change in their fortunes. An upwards spiral in share prices, bigger profits and increased payouts to investors is helping to restore the lustre in this niche of the steel market. “It’s very clear we are now in a […]
KUALA LUMPUR Malaysia has requested Interpol to put an alert out to apprehend four North Korean suspects in the murder of Kim Jong Nam, Malaysia’s police chief Khalid Abu Bakar said on Thursday. The estranged half brother of North Korean leader Kim Jong Un was killed in Kuala Lumpur’s main airport last week, in what South Korean and U.S. officials say was an assassination carried out by […]
By Brenda Goh | DANDONG, China DANDONG, China As Beijing tightens its grip on trade with North Korea, the economies of Chinese towns along the 1,400-km border the two countries share are floundering. On Saturday, China said it would ban all coal imports from North Korea, the latest move to enforce United Nations sanctions aimed at depriving Pyongyang of hard currency for its nuclear weapons and ballistic […]
Telstra has sold its remaining 6.5 percent stake in Chinese online company Autohome to Chinese insurer Ping An Insurance Group for $29.30 per share, for a total of $217 million (AU$282 million). “The divestment reflects Ping An is now well established as a strategic partner for Autohome,” Telstra said in a statement to the Australian Securities Exchange (ASX) on Thursday morning. “As a result of the sale, […]
BEIJING Authorities in a violence prone area of China’s western Xinjiang region are offering 100 million yuan ($14.5 million) in rewards for anti-terror tips, state media said, a policy that coincides with a dramatic rise in regional security spending. Hundreds of people have been killed in Xinjiang in the past few years, most in unrest between members of the Muslim Uighur minority, who call the region home, […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil traders from around the world, including the United States, Britain and Brazil, have tripled their sales to Asia as they take advantage of an emerging supply gap following OPEC-led production cuts announced late last year. Around 30 supertankers have this month made long-haul trips to ship crude oil from the Americas, the North Sea and the Mediterranean to refineries across […]
By David Brunnstrom | WASHINGTON WASHINGTON U.S. Secretary of State Rex Tillerson spoke by telephone with China’s top diplomat on Tuesday and affirmed the importance of a constructive U.S.-China relationship, and the two agreed on the need to address the threat posed by North Korea, the State Department said. Tillerson and Yang Jiechi, China’s state councillor who outranks the foreign minister, also discussed economics and trade as […]
By Idrees Ali | WASHINGTON WASHINGTON China, in an early test of U.S. President Donald Trump, is nearly finished building almost two dozen structures on artificial islands in the South China Sea that appear designed to house long-range surface-to-air missiles, two U.S. officials told Reuters. The development is likely to raise questions about whether and how the United States will respond, given its vows to take a […]
Creditors of Saudi Arabia’s Al Ittefaq Steel Products, the country’s largest private sector steel manufacturer, have provisionally agreed to a 6.2 billion riyals ($1.7 billion) debt restructuring, banking sources told Reuters on Tuesday. The terms of the deal have still not been finalised but banks have reached an agreement in principle to give the company a two year window in which it would only pay interest on […]
Yahoo agreed to take a $350m cut on the original $4.8bn sale of its core business to Verizon, becoming one of the first major US companies to revise deal terms because of a cyber attack. Verizon, the US telecoms company, will now pay the California-based internet company $4.5bn, Yahoo said on Tuesday, ending months of uncertainty about the future of the deal first agreed in July last year. […]
At least 180 Chinese listed companies will be forced to cancel or scale back planned rights offerings worth $97bn in response to regulations that target excessive fundraising used for dubious acquisitions and financial speculation. The rules come as Chinese regulators are increasingly concerned about the trend of “exit the real, enter the fake” — a phrase used to denote companies abandoning real economic activity in favour of […]
Politics & Economics Chinese products have got highlights from the ongoing International Defense Exhibition and Conference (IDEX) that kicked off Sunday in Abu Dhabi, United Arab Emirates (UAE). Eight Chinese traders of military hardware are participating in this 13th edition of the five-day event, displaying planes, missile weapon systems, tanks, vessels, unmanned aerial vehicles (UAV), radar systems and other equipment in forms of weapon systems in kind […]
By Drazen Jorgic | MALAM JABBA, Pakistan MALAM JABBA, Pakistan Atop the piste of Malam Jabba in Pakistan’s once dangerous Swat Valley skiers schuss downhill, a new Chinese-built chairlift ferries tourists to the peak, and a luxury hotel is under construction to replace one torched by the Taliban. The Taliban declared skiing “un-Islamic” during their 2007-2009 reign of terror over Swat, but improved security in recent years […]
Australian Prime Minister Malcolm Turnbull has reiterated that parts of the Trans-Pacific Partnership (TPP) trade deal are still worth salvaging despite the United States’ withdrawal last month, with Australia to continue pushing for a revised deal during a meeting in March with the remaining TPP members in Chile. “While Australia is disappointed by the decision of the United States to withdraw from the Trans-Pacific Partnership, we are […]
Some of the world’s biggest sovereign wealth funds are increasingly striking their own private equity deals rather than relying on external fund managers, in a drive to cut costs and gain more control. With some $6.5 trillion in assets, sovereign investors already account for 19 percent of capital committed to private equity, according to data from research firm Preqin. But mega-funds such as the Abu Dhabi Investment […]
By Ben Blanchard and Philip Wen | BEIJING BEIJING With the suspension of all North Korean coal imports, China has wielded a big stick against its reclusive neighbour, but there is no sign it will cut off all critical links and Beijing is still promoting talks to solve the dispute over Pyongyang’s programme to develop nuclear weapons. China has been getting increasingly fed up with what it […]
Two Filipino films are screening at this week’s Glasgow Film Festival, which opened in the Scottish city yesterday (February 15) and will run until February 26. Lav Diaz’s acclaimed film, Ang Babaeng Humayo (The Woman Who Left) will screen as part of the festival’s CineMasters section, which features works by renowned veteran directors from across the globe. Shot in black-and-white, The Woman Who Left won the Golden […]
Chinese technology giant Huawei has opened a narrowband Internet of Things (NB-IoT) lab in Australia to provide research and development opportunities around applications, smart devices, and sensor networks. The lab is situated within James Cook University in Cairns, Queensland, with Huawei kitting it out with IoT technology and giving the university funding for research. Its positioning within northern Australia will see it focus on smart applications for […]
By Rozanna Latiff | KUALA LUMPUR KUALA LUMPUR Footage from airport cameras purportedly showing the assault on the half-brother of the North Korean leader emerged on Monday as a row between Malaysia and North Korea escalated over the handling of the investigation into the killing of Kim Jong Nam. Malaysia recalled its envoy from Pyongyang and summoned North Korea’s ambassador in Kuala Lumpur, who again cast doubt […]
|By Arabian Post Staff| Abu Dhabi National Oil Co. awarded China National Petroleum Company (CNPC) an 8 percent stake in its onshore venture in return for a $1.8 billion signing bonus, Adnoc said Sunday in a statement. State-run CNPC is the venture’s third Asian partner, joining Japanese and South Korean companies alongside BP and Total SA. Asia will show the fastest growth in energy demand over the next […]
SINGAPORE — It is important at this juncture for the United States and China to articulate their overarching foreign policy objectives towards Asia, Defence Minister Ng Eng Hen said yesterday. During a panel discussion at the 53rd Munich Security Conference in Germany, Dr Ng said the US’ ability as a military power to continue its presence and influence in the Pacific was “not in doubt”. “But this […]
The two projects, the first to open since Mr. Trump became president, are among the dozen international business deals from his former life still moving forward — from India to Indonesia, Uruguay to the Dominican Republic. None of them are “new deals,” as defined by the family, as they were already well underway before the election. Continue reading the main story A Web of Complications Mr. Sajwani […]
BEIJING China understands South Korea’s need to protect its security but Seoul still needs to respect Beijing’s concerns about the deployment of an advanced U.S. anti-missile system, Chinese Foreign Minister Wang Yi told his South Korean counterpart. China has repeatedly expressed opposition to South Korea’s planned deployment later this year of the U.S. Terminal High Altitude Area Defence (THAAD) system, which Seoul and Washington say is needed […]
The Chuwi Hi13 looks like the Microsoft Surface Book on the outside, but its insides and price say otherwise. Many Chinese manufacturers produce devices that will never reach North American shores, save through online importers, but Chuwi is an exception that sells its offerings directly through Amazon. So when the company preps a new system like the Hi13, it may be of greater interest than just to […]
