China’s industry ministry said on Monday that US companies are welcome to actively participate in its market despite trade tensions between Beijing and Washington. It has promised a fair and just environment. The announcement by Xiao Yaqing, head of China’s Ministry of Industry and Information Technology, was made during a video meeting of the US-China Business Council. Executives from companies including General Motors and Qualcomm took […]
Business
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As the world undergoes its incredible transition to lower carbon energy alternatives, Big Banks are turning their backs on the oil industry. JP Morgan pledged to help clients align their business with Paris Agreement emission targets. HSBC announced up to a $1 trillion in green energy funding. An investor group worth $20 trillion in assets urged heavy emitters to clean up their act. Another group, worth […]
The Indian economy may climb from fifth to third spot in the list of the world’s largest economies over the next three decades, according to a recent study published in the medical journal Lancet. The research, conducted earlier this year, is based on changes to the size of the working-age population in the world’s largest countries, which is then translated into scenarios for total gross domestic […]
Pakistani Federal Minister for Information Shibli Faraz says his country would welcome investment by American companies. He also expressed desire for US companies to bring in advanced technology. During a meeting with US charge d’affaires Angela Aggeler, the minister said that Islamabad highly values its relations with Washington and is ready to further strengthen cooperation. Aggeler agreed with the minister’s views on promoting the two countries’ […]
ABC held a 90-minute town hall with Democrat presidential candidate Joe Biden without asking a single question about this week’s New York Post stories on alleged scandals involving his son’s business dealings in Ukraine and China. Host George Stephanopoulos steered clear of the Post’s scoops, including a story Wednesday that suggested Hunter Biden peddled political influence, including providing a Ukrainian business associate access to then-Vice President […]
The presidents of France’s Medef, Italy’s Cofindustria and Germany’s BDI warned the consequences of a no-deal Brexit would be delays at ports and borders, trade tariffs, border controls and unnecessary red tape. Business federations from France, Italy and Germany have urged the European Union (EU) and the UK to strike a post-Brexit trade deal as the clock ticks down. Medef president Geoffroy Roux de Bézieux, Cofindustria’s Carlo […]
Saudi Arabia and Russia are both suffering from low oil prices and economic crises, and with demand not recovering fast enough we may soon see another oil price war. The ongoing weakness of global oil markets seems to be stoking tensions within OPEC+, and a split within its leadership is now imminent. From the start of this year’s Moscow-Riyadh brokered OPEC+ production cut deal, internal differences […]
Stock markets tanked as US President Donald Trump abandoned stimulus talks until after the election. Trump is now in the process of out-Democrating the Democrats on the stimulus issue, economist Peter Schiff says. The Republicans lost the argument the moment they conceded that stimulus is “good” for the economy, Schiff believes. “The Fed has already said they’re not printing more money until the government sells more […]
Russian gas producer Novatek has announced plans to ship 80 percent of the liquefied natural gas (LNG) from its Arctic LNG 2 plant to Asian markets via the Northern Sea Route. According to the head of Novatek Leonid Mikhelson, “The plant’s three liquefaction lines with a total capacity of 19.8 million tons of LNG will be launched starting in 2023.” LNG supplies to Asia will become […]
Libya’s National Oil Corporation (NOC) has announced it is ending force majeure on the Sharara oilfield, the nation’s largest deposit, marking another milestone for the recovery of the country’s oil production. In a statement released on Sunday, the NOC said it has instructed the operator of the southwestern field, Acacus, to start production arrangements, taking into consideration public safety and process safety standards. The corporation which […]
youtube.com Doctors Who Refused to Sign NDAs in 2019 Excluded From Trump’s Care Team Trump asked Walter Reed doctors to sign NDAs in 2019 https://t.co/0wOe12R53Y via @nbcnews — Carol Duff (@CarolDuff18) October 10, 2020 Health Editor’s Note: Reasons for non-disclosure agreements are as follows: Discussing the sale or licensing of a product or technology. … When employees have access to confidential and proprietary information. … Presenting […]
The People’s Bank of China (PBOC) said that 3.13 million transactions have been processed using the nation’s sovereign digital currency as part of a series of ongoing pilot programs in major cities such as Shenzhen and Xiongan. According to the bank’s deputy governor, Fan Yifei, the currency has been used for more than 1.1 billion yuan ($162 million) worth of transactions. Pilots will also be conducted at the Beijing Winter Olympics […]
In a LinkedIn post, Vice President of Business and Data Dan Yoo announced he is leaving the company after CEO Brian Armstrong’s blog post saying the company was moving in an ‘apolitical’ direction and later offered a severance package for employees who disagreed. Source link
The inept thieves reversed their pickup truck into the store window, after failing to nab the crypto ATM. Source link
A trade deal between India and the United States has been pending since last November. While the US wants more access to India’s dairy and meat market, India wants restoration of the Generalised System of Preferences (GSP) which the Trump administration withdrew last June. Inviting American businesses to invest in India, Federal Commerce and Railway Minister Piyush Goyal has said a target of $500 billion for […]
Indian business and industry leaders are seeing signs of recovery after the coronavirus crisis wiped out nearly a quarter of the country’s economy in the last quarter. “The more I converse with CEOs of various organisations, the more I get convinced that there is an improvement in the macro-economic situation, especially over the last month or so,” Axis Bank’s chief executive and managing director, Amitabh Chaudhry, […]
New data from the International Monetary Fund (IMF) show that the process of the shift away from the dollar standard resumed in the second quarter of the year, with the share of the US currency in global reserves falling sharply. According to the IMF, while the greenback’s share increased in the first quarter of 2020 due to safe-haven buying during the early stages of coronavirus, it […]
The global business community has warned that G20 countries need urgent reforms to alleviate the impact of the coronavirus pandemic on the global economy, which is suffering from the worst crisis in a century. The Business Twenty (B20), which represents businesses across all G20 countries and various economic sectors, issued its 25-point list of policy recommendations for the coming G20 summit on Monday. The virtual summit, hosted by […]
Earlier, the US restricted foreign companies from selling chips to China’s Huawei if they use American tech due to national security concerns. It is believed that these restrictions can still be avoided if a necessary license is obtained – however, so far Washington has been reluctant to provide international chipmakers with consent. Two Japanese companies, tech conglomerate Sony and memory chipmaker Kioxia, have asked for US […]
Leading global cinema operator Cineworld is reportedly planning to close its sites in the US, the UK and Ireland after studios pushed back the release of big budget films casting a shadow on post-pandemic revival of the industry. The possible closures were first reported by the UK’s Sunday Times. The paper said Cineworld addressed UK prime Minister Boris Johnson and culture secretary, Oliver Dowden, warning in […]
The US currency was “the mirror image” of precious metals, such as gold and silver, as well as equities in the third quarter of this year, according to veteran stockbroker Peter Schiff. He pointed out in his podcast that the greenback was up on the month in September, but down on the quarter. The dollar index gained nearly two percent in September but ended down just […]
US airlines are preparing to lay off tens of thousands of employees unless they get additional federal aid. The industry has been struggling to stay afloat amid an unprecedented collapse in air travel due to the Covid pandemic. American Airlines CEO Doug Parker said late Wednesday that the carrier has no choice but to cut 19,000 jobs after attempts to get more federal money failed. The CEO of United […]
Japan’s Tokyo Stock Exchange (TSE) has shut down all trading for a full day due to a systemwide technical error. Though the exchange says the glitch is unrelated to hacking, it has yet to say when trading will resume. The TSE said it would halt trading for all of Thursday as it works to resolve the system failure, which was detected some two hours before markets […]
Beijing is preparing to launch an antitrust probe into Alphabet’s Google, looking into allegations it has leveraged the dominance of its Android mobile operating system to stifle competition, Reuters reported, citing sources. Two people familiar with the matter said that the case was proposed by tech giant Huawei last year and has been submitted by the country’s top market regulator to the State Council’s antitrust committee […]
A new report by the World Bank reveals that Covid-19 delivered a “triple shock” to the developing East Asia and Pacific region, with as many as 38 million people expected to remain in, or be pushed back into, poverty as a result. It is the first increase in poverty in the region in two decades, according to the findings. The bank defined the poverty line as […]
Chinese electric carmaker Xpeng revealed it is working on a flying car model and showed off a prototype of the vehicle at the Beijing motor show – the biggest international event held for the industry since the pandemic began. During the show, which kicked off on Saturday, the Chinese rival to American EV maker Tesla said that it wants to invest in flying car technology. According […]
Despite retaining India’s credit rating at the lowest investment grade, ratings agency S&P Global warned that the Asian economy will face mounting deficit and debt levels in fiscal 2021 in the aftermath of the coronavirus crisis. In its forecast released earlier this week, S&P said it expects India’s debt-to-GDP ratio (the debt levels compared to gross domestic product) to surge over 17 percent from the previous […]
Florida Gov. Ron DeSantis not only allowed bars and restaurants to open at full capacity on Friday, he said he’d override local efforts to keep them closed despite the raging coronavirus pandemic. On the same day Florida surpassed 14,000 coronavirus deaths, DeSantis announced that the state was immediately moving to the third phase of its three-phase reopening plan. Bars, restaurant, gyms, shops, stadiums, and theme parks […]
China’s sovereign debt is set to be added in another benchmark bond index, World Government Bond Index (WGBI), possibly bringing from $100 to $150 billion worth of foreign investment to the world’s second largest bond market. In a landmark decision announced on Thursday, British index provider FTSE Russell said Chinese government bonds will be added to the key index that includes mostly developed economies from October […]
The launch of the cross-border trade blockchain comes as Ant stokes up enthusiasm for its public offering – set to be the largest on record. Source link
Despite India being an important partner for the United States geopolitically, a bilateral free trade agreement (FTA) is unlikely to be reached soon regardless of who wins the upcoming US presidential election. That’s according to Todd Buchholz, who served as the director of economic policy at the White House under President George H.W. Bush. He said as cited by the Economic Times that both US President […]
With grain production in Russia expected at record highs this year, the country has continued boosting exports and extending the list of its potential buyers. Algeria’s state grains agency said last week it would start accepting wheat imports from all countries, including Russia, in its next tender. Until now, Russia has only been able to export small amounts to the world’s third-biggest buyer of wheat. The […]