(Reuters) -The International Monetary Fund said on Tuesday it has reached a staff-level agreement with Pakistan on its loan program, which would allow the country to access $1.2 billion after approval from the fund’s board. The IMF will provide Pakistan $1 billion under its Extended Fund Facility and $200 million under its Resilience and Sustainability …
IMF, Pakistan reach staff-level deal on $1.2 billion payout Read More »
By David Shepardson WASHINGTON (Reuters) -Major Chinese airlines on Tuesday urged the Trump administration to abandon a plan to bar them from flying over Russia on U.S. flights, saying it would increase flight times, raise air fares and could disrupt some routes. Last week the U.S. Transportation Department proposed banning Chinese airlines from flying over …
Chinese airlines oppose Trump plan to stop flying over Russia on US routes Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -Bitcoin and ether tumbled on Tuesday as U.S.-China tension ramped up, wiping out a rally the day before that was fueled by President Donald Trump’s conciliatory trade remarks. The U.S. and China on Tuesday began charging additional port fees on ocean shipping firms that move everything from holiday toys …
Bitcoin, ether drop as US-China tensions flare up, erasing Monday’s gains Read More »
By David Shepardson WASHINGTON (Reuters) -A trade group representing the aluminum industry called on Tuesday for a ban on U.S. exports of used beverage cans to China to support American production of cars, fighter jets, tanks and satellites. The Aluminum Association said the United States consumes between 5 million to 6 million metric tons of …
Trade group wants to ban export of scrap aluminum cans to China Read More »
By David Lawder and Andrea Shalal WASHINGTON (Reuters) -China must rebalance its economic growth model towards domestic demand, which has been weak for some time due to the country’s property bust, the International Monetary Fund said on Tuesday, highlighting a message it has long delivered to Beijing. The renewed public emphasis in the IMF’s World …
IMF says China must shift growth to domestic demand, resolve property crisis Read More »
By Max A. Cherney SAN FRANCISCO (Reuters) -U.S. Republican Senator Tom Cotton has asked the Commerce Department to investigate Singapore-based Megaspeed for allegedly diverting Nvidia chips used for artificial intelligence, according to a letter seen by Reuters on Monday. The letter cites an October report in The New York Times that detailed the alleged diversion …
US senator seeks Commerce Department investigation into Singapore-based Megaspeed Read More »
By Andrea Shalal, David Lawder and Jasper Ward WASHINGTON (Reuters) -U.S. Trade Representative Jamieson Greer on Tuesday said it depended on China whether additional 100% tariffs on its exports to the United States kick in on November 1 or sooner, but acknowledged it might be hard for Beijing to find an off-ramp. Greer told CNBC …
US tariffs on China on Nov 1 depend on Beijing’s actions, USTR Greer tells CNBC Read More »
By Karin Strohecker and Andrea Shalal WASHINGTON (Reuters) -Pakistan is set to sign a preliminary deal on a review of its loan programme with the International Monetary Fund this week, the country’s finance minister said, a key step to securing another $1.24 billion payout from the lender. An IMF team left Pakistan last week without …
Pakistan finance minister sees staff deal on $1.2 billion IMF payout this week Read More »
By Toby Sterling AMSTERDAM (Reuters) -A Dutch seizure of Chinese-owned computer chip maker Nexperia came after rising U.S. pressure on the company, a court ruling released on Tuesday showed, underscoring how the firm has been caught in the crossfire between Washington and Beijing. The government said on Sunday that it had intervened in Netherlands-based Nexperia, …
Dutch seizure of Nexperia followed US pressure over Chinese CEO Read More »
(Reuters) -Sunac China said on Tuesday its offshore debt restructuring plan was approved by a majority of creditors at a court-convened meeting in Hong Kong. The property developer said 98.5% of voting creditors, representing about 94.5% of the total voting claims, backed the plan, which covers about $7.96 billion in offshore debt. Sunac said it …
Property developer Sunac China says most creditors approve restructuring plan Read More »
