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 […]
China has banned coal imports from North Korea until the end of 2017, the Ministry of Commerce said on Saturday, after a week in which Pyongyang tested an intermediate-range ballistic missile and carried out an assassination in Malaysia. Kim Jong Nam the brother of North Korean ruler Kim Jong Un, was killed by two female assailants in the Kuala Lumpur airport on Monday. He had been living […]
By Michelle Price / ReutersHONG KONG — Hong Kong is beefing up its anti-money laundering and corporate disclosure laws in a move that some financial crime specialists say could lead to the exodus of billions of dollars in assets from the territory as people seek to avoid increased scrutiny. The Chinese territory’s government has been rattled by last year’s Panama Papers scandal, which showed that Hong Kong […]
Two weeks ago, German finance minister Wolfgang Schauble confirmed Donald Trump’s charge that the Euro is far “too low” for Germany, but said he is unable to do anything about it and instead blamed Mario Draghi. “The euro exchange rate is, strictly speaking, too low for the German economy’s competitive position,” he told Tagesspiegel on February 5. “When ECB chief Mario Draghi embarked on the expansive monetary […]
A remarkable 250 million-year-old “terrible-headed lizard” fossil found in China shows an embryo inside the mother — clear evidence for live birth. Head of The University of Queensland’s School of Earth and Environmental Sciences and co-author Professor Jonathan Aitchison said the fossil unexpectedly provided the first evidence for live birth in an animal group previously thought to exclusively lay eggs. “Live birth is well known in mammals, […]
KUALA LUMPUR: Thousands of Malaysians have gathered at the heart of Kuala Lumpur to support a controversial bill that will strengthen the powers of the Shariah Court. The rally on Saturday (Feb 18), called Gathering 355 or RUU355, is organised by Islamic party PAS. Supporters dressed in purple turned up in force at Padang Merbok, a field located close to Parliament House. They’re standing in solidarity with […]
By Emily Chow and Liz Lee | KUALA LUMPUR KUALA LUMPUR Malaysian police said on Saturday they had arrested a North Korean man in connection with the murder of the estranged half-brother of North Korean leader Kim Jong Un, as a diplomatic spat over his body escalated. Kim Jong Nam died this week after being assaulted at Kuala Lumpur International Airport with what was thought to be […]
In an isolated area of Ecuador’s Amazon, the face of Lenín Moreno, the anointed successor of fiery leftist President Rafael Correa in Sunday’s presidential election, is plastered on billboards proclaiming “the future is unstoppable”. That future worries Mercedes Cabrera, a peasant leader in the village of Santiago de Panantza. She says she was snatched from her bed by state security forces and branded a terrorist after a policeman […]
A North Korean national has been arrested by Malaysian police in connection with the killing of Kim Jong Nam, brother of North Korea’s leader, as tensions flared between the two countries over the investigation. Police on Saturday announced a fourth arrest in connection with the death of Mr Kim, whose face was smothered with a wet cloth in an apparent poisoning at Kuala Lumpur international airport on […]
