Category: Asia
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China halves tariffs on more than 1,700 US goods
China plans to halve tariffs on 1,717 goods it imports from the US as the country faces the fresh challenge of the coronavirus. Chinese officials said tariffs on some goods would be cut from to 5% from 10%, and on others from 5% to 2.5%. The two countries have been stuck in a long-running trade…
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Coronavirus: Companies tell workers ‘stay at home’
Companies in China have advised staff to work from home in an attempt to slow the spread of the deadly coronavirus. Businesses are also offering workers longer holidays, as well as telling employees returning from the most affected areas to stay away from work. It comes after the Chinese government extended the Lunar New Year…
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Ex-Nissan Chief Carlos Ghosn, justifies decision to jump bail in Japan to Lebanon
Ousted Nissan boss Carlos Ghosn said on Tuesday he had fled to Lebanon to escape a “rigged” justice system in Japan, raising questions about how one of the world’s most-recognized executives had slipped away while on bail. Ghosn’s abrupt departure marks the latest twist in a year-old saga that has shaken the global auto industry,…
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Chinese billionaire ‘evaded $1.8bn in US tariffs’
Chinese billionaire Liu Zhongtian has been indicted in the US over allegations he evaded $1.8bn (£1.5bn) in tariffs on aluminium imports. Prosecutors accuse Mr Liu of using the aluminium company he founded to smuggle huge amounts of the metal into the US. The firm, China Zhongwang Holdings, did not immediately respond to a BBC request…
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Ghana-China partnership points to a balanced direction – Chinese Ambassador
The Chinese Ambassador to Ghana, Shi Ting Wang, has stated that trade relations between Ghana and China are growing in a more balanced and sustainable direction. Speaking at the opening of the 3rd China Trade Week (CTW) in Accra, he attributed the growing trade between the two countries to efforts to achieve shared growth in various…
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Huawei to lose $30 billion revenue following US ban
China’s Huawei Technologies Co Ltd has taken a harder-than-expected hit from a U.S. ban, the company’s founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year. Ren’s downbeat assessment that the ban will hit revenue by $30 billion, the first time Huawei has quantified the impact of the U.S. action, comes as…
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Apple’s earnings would drop by nearly 30% if China bans its products, Goldman Sachs says
The U.S.-China trade war could take a big chunk out of Apple’s bottom line if China retaliates by banning its products, according to an analyst at Goldman Sachs. Analyst Rod Hall said in a note to clients that Apple’s earnings could drop by 29% if the company’s products were banned in mainland China. Apple’s China business…
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Huawei’s Android loss: How it affects you
The restrictions being placed on Huawei’s access to the Android operating system will cast a long shadow over Tuesday’s launch of the Chinese company’s latest handsets. The firm has invited press from across the globe to London to witness the unveiling of its Honor 20 Series smartphones. The BBC understands the devices will still offer…
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Trade war: Trump says no need to rush on China talks
US President Donald Trump has said he is in “absolutely no rush” to finalise a trade agreement with China, hours after the US more than doubled tariffs on many Chinese products. He said bilateral talks, due to resume in Washington later on Friday, were continuing in a very “congenial” way. The US action, a sharp…
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Amazon plans to shut online store in China
Amazon plans to shut its online store in China that allows shoppers to buy from local sellers as it downsizes operations in the country. The firm said it would no longer run the domestic marketplace from July, but Chinese shoppers will still be able to order goods from Amazon’s global store. It will also continue…