WASHINGTON: China’s central bank governor on Friday (Apr 14) took a swipe at efforts by Western economies to trade more with allies and rely less on the world’s largest goods-exporting country, saying that such “friend-shoring” attempts could prevent global supply chain tension from easing. Reducing their deep dependence on supplyContinue Reading
China’s cyberspace regulator will conduct a cybersecurity review of products sold in the country by US memory chip manufacturer Micron, the regulator said on Friday (Mar 31). The move, which comes amid a spat over chip technology between Washington and Beijing, is aimed at protecting the security of the supplyContinue Reading
Huawei Technologies has replaced more than 13,000 parts in its products that were hit by United States trade sanctions, the Chinese tech giant’s founder said, according to a speech transcript posted on Friday (Mar 17) by a Chinese university. According to the transcript of the February speech posted by ShanghaiContinue Reading
SINGAPORE: Asian stocks tumbled on Thursday (Mar 16), and investors bought gold, bonds and the US dollar as fear of a banking crisis was reignited by fresh troubles at Credit Suisse, leaving markets on edge ahead of a European Central Bank (ECB) meeting later in the day. Japan’s Nikkei fellContinue Reading
However, the developments sent shivers through Asian markets as memories of the 2008 global financial crisis came flooding back. Among banks, Japan’s Sumitomo Mitsui Financial and Mitsubishi UFJ Financial shed more than 2 per cent apiece, while South Korea’s Hana Financial Group gave up more than 3 per cent andContinue Reading
SHANGHAI: China’s science and technology policies should aim to build the country’s strength and self-reliance, while companies take the lead in pushing innovation, Premier Li Keqiang said on Sunday (Mar 5). The country effectively countered external attempts to suppress and contain China’s development over the past five years by promotingContinue Reading
KUALA LUMPUR: Abu Dhabi’s International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay US$1.8 billion to settle a legal dispute over the scandal at Malaysian state fund 1MDB, Malaysia’s finance ministry said on Monday (Feb 27). Malaysia in 2018 had filed a challenge inContinue Reading
In a statement posted on its Twitter account, Hindenburg said “regarding the company’s threats of legal action, to be clear, we would welcome it”. “We fully stand by our report and believe any legal action taken against us would be meritless,” it added. Founded by Nathan Anderson in 2017, HindenburgContinue Reading
TOKYO: A Japanese consortium has decided to retain its stake in the new Russian operator of the Sakhalin-1 oil and gas project and is set to notify Moscow, moving to secure stable energy supplies for resource-scarce Japan. “It’s an extremely important project,” Economy and Industry Minister Yasutoshi Nishimura said onContinue Reading
WASHINGTON: The United States has added seven China-related entities, mostly related to aerospace, to its export control list, citing national security and foreign policy concerns, according to a US Commerce Department notice published online on Tuesday (Aug 23). According to a notification posted to the Federal Register, suppliers of US materialsContinue Reading