China, South Korea and Japan agreed Sunday to strengthen free trade in the face of a raft of new tariffs imposed by US President Donald Trump.The agreement came at a meeting of top trade officials — the first at that level in five years — days ahead of the start of tariffs on a huge …
China, South Korea and Japan agree to strengthen free trade Read More »
China’s fury at the sale of Panama Canal ports to a US-led consortium reflects how container hubs have become prized currency as Beijing and Washington vie for global influence, analysts say.Hong Kong conglomerate CK Hutchison this month sold 43 ports in 23 countries — including operations in the vital Central American canal — to a …
US, China raise the stakes in Panama Canal ports row Read More »
Sky-high tobacco prices in Australia have created a lucrative black market, analysts say, sparking a violent “tobacco war” and syphoning away billions in potential tax revenue.Faced with a pack of 25 cigarettes costing up to Aus$50 (US$32) or more — including Aus$1.40 in tax on each stick — many smokers have instead turned to readily …
Australian black market tobacco sparks firebombings, budget hole Read More »
Stock markets plunged Friday as a closely watched US inflation reading heated up amid intensifying concerns over fallout from President Donald Trump’s incoming wave of tariffs.Shares in automakers fell further as they brace for 25 percent US tariffs due to kick in next week along with a raft of “reciprocal” surcharges tailored to different countries.The …
Global markets slide as fears over US tariffs intensify Read More »
India on Friday announced a $7.3 billion deal to purchase 156 locally made light combat Prachand helicopters for its air force and the army — part of its ongoing push to be self-reliant on defence.The country’s first locally designed and developed combat helicopter will be produced at the country’s largest helicopter factory, opened by Prime …
India signs $7.3 bn deal for 156 homemade helicopters Read More »
China’s market regulator said it will review Hong Kong conglomerate CK Hutchison’s sale of Panama Canal ports to a US-led consortium, a Beijing-backed newspaper in Hong Kong reported on Friday.The business empire built by Hong Kong billionaire Li Ka-shing offloaded its global ports business outside China — including operations in the vital Central American canal …
Chinese regulator to vet Panama ports deal: Hong Kong media Read More »
Chinese leader Xi Jinping on Friday warned of “severe challenges” to global trade, vowing to open the country’s door “wider and wider” to foreign firms as Beijing faces down a mounting trade war with the United States.Meeting executives including hedge fund boss Ray Dalio and Samsung Electronics chief Lee Jae-yong in Beijing’s ornate Great Hall …
China’s Xi warns foreign executives of ‘severe’ trade headwinds Read More »
On the fifth floor of Southeast Asia’s biggest textile market, Indonesian trader Toni Sar waves a white envelope to signal surrender as he points to shuttered units forced to close because of falling business.”There are many who are not strong anymore. They can’t do it anymore,” said the 49-year-old clothes trader, who sells to 27 provinces …
Ramadan brings little respite for struggling Indonesian traders Read More »
Japanese Prime Minister Shigeru Ishiba said Friday that Donald Trump’s views on tariffs were “difficult to understand” after the US president announced 25 percent levies on imported cars and parts.Just weeks after Ishiba and Trump held apparently friendly talks, the duties came as a major blow to Japan, one of Washington’s closest economic and strategic …
Japan PM says Trump’s tariff views hard to understand Read More »
Asian markets were mixed Friday as traders brace for next week’s expected wave of US tariffs, while auto firms extended their painful losses following President Donald Trump’s announcement of steep levies on vehicle imports.The mood on trading floors has soured in recent weeks as the White House presses ahead with its hardball policy approach that …
Asian markets mixed as autos suffer more tariff-fuelled losses Read More »
