BEIJING: China accused the United States of “naked economic terrorism” on Thursday as Beijing ramps up the rhetoric in their trade war.The world’s top two economies are at loggerheads as trade talks have apparently stalled, with US President Donald Trump hiking tariffs on Chinese goods earlier this month and blacklisting telecom giant Huawei.“We are against…
Russia will carefully consider extending its oil output reduction agreement with the Organization of the Petroleum Exporting Countries (OPEC) and other producers, Russian First Deputy Prime Minister Anton Siluanov told Reuters on Wednesday. Moscow will weigh, in particular, the deal’s positive effect on oil prices against losses in market share to United States companies, he…
Russia will carefully consider extending its oil output reduction agreement with the Organization of the Petroleum Exporting Countries (OPEC) and other producers, Russian First Deputy Prime Minister Anton Siluanov told Reuters on Wednesday. Moscow will weigh, in particular, the deal’s positive effect on oil prices against losses in market share to United States companies, he…
HONG KONG: China’s Huawei Technologies has filed a motion for summary judgment in its lawsuit against the US government, in the telecoms equipment maker’s latest bid to fight sanctions from Washington that threaten to push it out of global markets.The motion, filed late on Tuesday in the US District Court for the Eastern District of…
DUBAI: The Gulf banking sector may experience fewer mergers and acquisitions, with the remaining pool of lenders seeing limited bases – except for economic reasons – for them to consider consolidation deals. “Most mergers to date have involved banks with common major shareholders,” S&P Global Ratings said in a report. “As such, the pool of…
DUBAI: The Gulf banking sector may experience fewer mergers and acquisitions, with the remaining pool of lenders seeing limited bases – except for economic reasons – for them to consider consolidation deals. “Most mergers to date have involved banks with common major shareholders,” S&P Global Ratings said in a report. “As such, the pool of…
Huawei holds on to No. 2 smartphone spot after US ban Chinese telecom company Huawei held on to its spot as the world’s second biggest smartphone vendor in the first quarter, despite being blacklisted by the United States, research and advisory firm Gartner said.Gartner also said Huawei continued to reduce the gap with Samsung, but…
NEW DELHI: India’s slowing economic growth is of serious concern and the country needs to urgently cut tax and interest rates to revive the economy, a top industrial body said on Monday ahead of the inauguration of Prime Minister Narendra Modi’s second term.The economy grew 6.6% in the three months to December — the slowest…
TOKYO: Japan’s government said on Monday that high-tech industries will be added to a list of businesses for which foreign ownership of Japanese firms is restricted.The new rule, effective August 1, comes amid heightening pressure from the United States in dealing with cyber-security risks and technological transfers involving China.The Japanese government made no mention of…
Samsung may have a chance to strengthen its position in the smartphone market due to the hurt caused to Huawei Technologies in the wake of US-China trade tensions, according to Fitch Ratings.Tech companies, including Google and SoftBank Group-owned chip designer ARM, have said they will cease supplies and updates to Huawei.The loss of access to…
BEIJING: While Huawei’s founder brushes aside a US ban against his company, the telecom giant’s employees have been less sanguine, confessing fears for their future in online chat rooms.Huawei CEO Ren Zhengfei declared this week the company has a hoard of microchips and the ability to make its own in order to withstand a potentially…
BEIJING: While Huawei’s founder brushes aside a US ban against his company, the telecom giant’s employees have been less sanguine, confessing fears for their future in online chat rooms.Huawei CEO Ren Zhengfei declared this week the company has a hoard of microchips and the ability to make its own in order to withstand a potentially…
BEIJING: While Huawei’s founder brushes aside a US ban against his company, the telecom giant’s employees have been less sanguine, confessing fears for their future in online chat rooms.Huawei CEO Ren Zhengfei declared this week the company has a hoard of microchips and the ability to make its own in order to withstand a potentially…
LONDON: The value of joint Saudi-US contracts rose to $13 billion in the first quarter of 2019, according to a business council report. That marked the highest value of awarded contracts since the first quarter of 2015, the US-Saudi Arabian Business Council said. The value of contracts awarded during the first quarter amounted to about half…
LONDON: The value of joint Saudi-US contracts rose to $13 billion in the first quarter of 2019, according to a business council report. That marked the highest value of awarded contracts since the first quarter of 2015, the US-Saudi Arabian Business Council said. The value of contracts awarded during the first quarter amounted to about half…
LONDON: Telecoms tower company IHS plans to operate up to 30,000 masts in Saudi Arabia within the next five years, as part of a growth strategy in a country it sees as the “pulsating heart” of the Arab world. The Mauritius-headquartered IHS — which buys or builds mobile phone masts and then leases them to telecoms…
NEW DELHI: Foreign companies in India have welcomed Prime Minister Narendra Modi’s election victory for the political stability it brings, but now they need to see him soften a protectionist stance adopted in the past year.Modi’s pro-business image and India’s youthful population have lured foreign investors, with US firms such as Amazon.com , Walmart and…
NEW DELHI: Foreign companies in India have welcomed Prime Minister Narendra Modi’s election victory for the political stability it brings, but now they need to see him soften a protectionist stance adopted in the past year.Modi’s pro-business image and India’s youthful population have lured foreign investors, with US firms such as Amazon.com , Walmart and…
NEW DELHI: Foreign companies in India have welcomed Prime Minister Narendra Modi’s election victory for the political stability it brings, but now they need to see him soften a protectionist stance adopted in the past year.Modi’s pro-business image and India’s youthful population have lured foreign investors, with US firms such as Amazon.com , Walmart and…
NICOSIA: Egypt has signed a deal with a Cypriot firm to lay a 310-kilometer (195-mile) cable under the Mediterranean to export electricity to Europe, the company said on Thursday.Nicosia-based EuroAfrica described the deal, worth an estimated two billion euros, as a “landmark.”“Cyprus now becomes a major hub for the transmission of electricity from Africa to…
