Soaring US-China tensions may lead to cancellation of key security meeting

Soaring US-China tensions may lead to the cancellation of a major diplomatic and security meeting between officials of the two global economic powers next month amid their persisting trade war, sources have said. Two Beijing-based diplomatic sources briefed on the planned meetings were cited by media as saying that US Defense Secretary James Mattis and US Secretary of State Mike Pompeo were both due to take part in the US-China Diplomatic and Security Dialogue next month in Beijing, noting that the event was now in doubt. The last such meeting…

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OnMobile taps into bKash’s mobile wallet for growth

Mumbai – OnMobile Global Limited announced a strategic partnership with bKash Limited, the largest Mobile Financial Services (MFS) provider in Bangladesh, facilitating its customers to purchase premium mobile entertainment contents from OnMobile platform through bKash. Having around 30 million registered customers, bKash offers services like Cash In and Cash Out, Person to Person Fund Transfer, Merchant Payment, Inward International Remittances, Salary Payment and Buy Airtime. OnMobile Global Limited shall leverage bKash’s large consumer base to build and manage an all-encompassing & enriching mobile entertainment ecosystem, which is untapped so far and offers…

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In September 2019, Alibaba’s Jack Ma to step down

Jack Ma, the executive chairman of Chinese e-commerce giant Alibaba, has said he plans to step down in a year. The news, in a letter sent by Mr Ma to Alibaba customers and shareholders, follows conflicting reports over the weekend on the timing of his exit. Mr Ma, one of China’s richest men, will hand over the reins to Daniel Zhang, currently chief executive. Alibaba is one of the world’s most valuable companies – its shares nearly doubled in value last year. Five things about Jack Ma Mr Zhang, who is…

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China, USA implement new tariffs, escalating trade war

The United States has started levying 25-percent tariffs on 16 billion dollars’ worth of Chinese imports, prompting Beijing to start implementing a threat to retaliate with its own levies on American goods. The US on Thursday began collecting the additional 25-percent duties on 279 Chinese import product categories, including semiconductors, chemicals, plastics, motorbikes, and electric scooters. Beijing retaliated with its own fresh tariffs on 16 billion dollars’ worth of additional US imports, including fuel, steel products, automobiles, and medical equipment. The US and China have slapped retaliatory levies on a…

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China denounces new US military act

China has denounced the United States’ military budget for 2019, which puts investment proposals by Chinese companies under closer scrutiny and boosts military support for self-ruled Taiwan. US President Donald Trump on Monday signed the 2019 US military spending bill into law, authorizing the Defense Department to invest around $716 billion into military strategies that will primarily target Russia and China. The National Defense Authorization Act, or NDAA, strengthens the Committee on Foreign Investment in the United States (CFIUS), which reviews proposals to decide whether they threaten national security. Referring…

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Trump praises Mexico, threatens Canada with auto tariffs

US President Donald Trump has threatened Canada with auto tariffs if Washington and Ottawa cannot reach a trade agreement. According to Press TV, in what appears to be about efforts to renegotiate the North American Free Trade Agreement between the US, Mexico and Canada, Trump tweeted Friday that a deal with Mexico City is “coming along nicely,” but expressed dissatisfaction with Canada. Deal with Mexico is coming along nicely. Autoworkers and farmers must be taken care of or there will be no deal. New President of Mexico has been an…

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China won’t accept US trade “blackmail” – state media

Shipping containers and cargo vessels are seen at the Dachan Bay Terminals in Shenzhen, Guangdong Province, China, on July 12, 2018. China’s state media said on Saturday the government’s retaliatory tariffs on $60 billion of US goods showed rational restraint and they accused the US of blackmail. Late on Friday, China’s Finance Ministry unveiled new sets of additional tariffs on 5,207 goods imported from the US, with the extra levies ranging from five to 25 percent on a total value of goods less than half of that proposed by US…

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Fitbit faces anger for setting limits on women’s periods

Women who have signed up to Fitbit’s period tracker have complained that it only allows them to log periods of 10 days or fewer. Many women pointed out that they can last much longer, making the tracker on the wearable fitness device useless. Fitbit confirmed to the BBC that “currently a period must be less than 11 days”. It has asked those concerned to comment and vote on its suggestions board. On the message board, women expressed their views about the tracker’s limitations. “Although I do appreciate the inclusion of being…

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Africa’s biggest free trade zone launched in Horn of Africa

Djibouti on Thursday launched the first phase of Africa’s biggest free trade zone, seeking to capitalize on its strategic position on one of the world’s busiest trade routes. At ceremonies in the capital, President Ismael Omar Guelleh hailed the scheme as the culmination of infrastructure projects “boosting Djibouti’s place in international trade and commerce”. The Horn of Africa nation, located at the mouth of the Red Sea and Suez Canal, unveiled three new ports and a railway linking it to landlocked Ethiopia in 2017, as part of its bid to…

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Bank of China to operate in India, RBI issues license

New Delhi [India], Jul 4 (ANI): The Reserve Bank of India on Wednesday issued licence to Bank of China to operate in India, according to sources. According to reports, the decision was based on the commitment made by Prime Minister Narendra Modi to the Chinese leadership. Following this, the 106-year-old Bank of China will open a branch in India. Last month Prime Minister Narendra Modi met Chinese President XiJinping ahead of the Shanghai Cooperation Organization (SCO) Summit in Qingdao, China. During the meeting, they discussed the issues of security, economic cooperation and people-to-people exchanges. The Bank of…

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