World

After TikTok, Trump indicates banning Alibaba, other Chinese firms in US
4Sep By Mike TrudellNo Comments
World

After TikTok, Trump indicates banning Alibaba, other Chinese firms in US

Days after signing an executive order against TikTok's parent company, ByteDance, US President Donald Trump has indicated that he was looking to ban other Chinese-owned companies, including e-commerce giant Alibaba in the United States.The development came after Trump issued an executive order on August 14, requiring ByteDance to divest its interests in video-sharing app TikTok's operations in the US within 90 days."There is credible evidence that leads me to believe that ByteDance ... might take action that threatens to impair the national security of the United States," Trump said in the order.The previous order could have forced US-based app stores to stop distributing the TikTok app if ByteDance did not reach a deal to divest from it in 45 days.Under the latest order, ByteDance is expe...
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Biden Administration to place US-India ties on ‘high priority’
4Sep By Mike TrudellNo Comments
World

Biden Administration to place US-India ties on ‘high priority’

In a major policy document on Indian-Americans, the Joe Biden administration’s campaign has said that it will place a "high priority" on continuing to strengthen the India-US relationship, asserting that no common global challenge can be solved without the two countries working as responsible partners.The campaign also said Democratic presidential candidate Joe Biden believes there can be no tolerance for terrorism in South Asia, cross-border or otherwise.A Biden administration will also work with India to support a rules-based and stable Indo-Pacific region in which no country, including China, is able to threaten its neighbors with impunity, it said."Biden will deliver on his long-standing belief that India and the United States are natural partners, and a Biden administration will place...
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Nigeria in crisis over China’s debt-trap diplomacy
4Sep By Mike TrudellNo Comments
China, World

Nigeria in crisis over China’s debt-trap diplomacy

The Federal Republic of Nigeria, Africa's largest economy, is in crisis over the possibility of 'losing' its sovereignty to China over debts. The Federal lawmakers of the national assembly are demanding a probe into China's lending practices into Nigeria, in a wake of a sovereign guarantee clause in loan agreements that they consider 'an entrapment of Chinese neo-colonial plans'.Lawmakers fear that the clause could cause Nigeria to sign away its sovereignty in the event of a payment default.According to clauses in Article 8(1) of the Commercial Loan Agreement signed between Nigeria and the Export-Import Bank of China, Nigeria stands to concede her sovereignty to China should there be a default in the repayment of the $400 million for the Nigerian National Information and Communication Tech...
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Ships carrying ammonium nitrate to Singapore, port storage facilities inspected as part of regulations: MPA
4Sep By Desk TeamNo Comments
Singapore, World

Ships carrying ammonium nitrate to Singapore, port storage facilities inspected as part of regulations: MPA

The dangers of the explosive material have been in the spotlight since the Beirut blast on Aug 4 which killed more than 170 people. SINGAPORE: Ships passing through Singapore ports occasionally carry ammonium nitrate, said the Maritime and Port Authority of Singapore (MPA) on Wednesday (Aug 12) as it outlined how the explosive chemical is regulated for safety. Vessels carrying ammonium nitrate have to inform port authorities of their cargo before arrival. They will only be able to unload or store the material when approval is given, MPA said in response to queries from CNA. "MPA carries out inspections on-board vessels to ensure that regulations are being complied with," it added. The dangers of ammonium nitrate have been in the spotlight since Aug 4 when 2,750 tonnes of the ch...
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‘Nothing to worry about’: Thailand seeks to ease fears of COVID-19 return
4Sep By Desk TeamNo Comments
Market, World

‘Nothing to worry about’: Thailand seeks to ease fears of COVID-19 return

BANGKOK: Thailand sought to allay fears of a second wave of coronavirus infections on Thursday (Aug 20), after a woman tested positive having cleared quarantine nearly two months ago on returning from overseas. Thailand has gone 87 days without domestic transmission but news that a woman tested positive for COVID-19 in Bangkok on Tuesday, having returned from abroad on Jun 24, has triggered concern of a fresh outbreak in a country so far spared the level of contagion elsewhere. Authorities said the woman was unlikely to be contagious and may have caught the virus in the United Arab Emirates or her home province of Loei, bordering Laos. "She may have been infected in the past three months, probably in Dubai or Loei, but not Bangkok," Taweesin Wisanuyothin, spokesman for the governmen...
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France leads criticism of US ‘attack’ on ICC
3Sep By Desk TeamNo Comments
World

France leads criticism of US ‘attack’ on ICC

PARIS: France led criticism of US sanctions on the chief prosecutor of the International Criminal Court on Thursday (Sep 3), saying Washington had launched a "serious attack" on the global body. The ICC, a special multilateral court set up to try genocide, war crimes and crimes against humanity cases, has become the latest issue to split Europe and United States under President Donald Trump. Since its creation, the US has never recognised the court's authority, but the Trump administration took the unprecedented step of sanctioning its chief prosecutor, Fatou Bensouda, on Wednesday along with another senior ICC official. "The measures announced on September 2 amount to a serious attack on the court and signatory states of the Treaty of Rome and, beyond this, a challenge to multilate...
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Fed officials expect that coronavirus will ‘weigh heavily’ on the economy, minutes show
3Sep By Desk TeamNo Comments
Market, World

Fed officials expect that coronavirus will ‘weigh heavily’ on the economy, minutes show

Federal Open Market Committee members expressed concern at their latest meeting over the future of the economy, saying that the coronavirus likely would continue to stunt growth and potentially pose dangers to the financial system. At the July 28-29 session, the Federal Reserve's policymaking arm voted to keep short-term interest rates anchored near zero, citing an economy that was falling short of its pre-pandemic levels. Officials at the meeting "agreed that the ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the near term and was posing considerable risks to the economic outlook over the medium term," the meeting summary said. As Chairman Jerome Powell and Fed leaders have emphasized multiple times, the minutes noted a consensus on ...
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A stress-free guide to credit cards: How to use them responsibly
3Sep By Desk TeamNo Comments
Market, USA, World

A stress-free guide to credit cards: How to use them responsibly

There are a lot of perks that come with having a credit card, from the convenience of being able to pay for a purchase when you don't have cash to the chance to earn rewards on every dollar you spend. Having a credit card can also help you build your credit history, which is important if you want to one day apply for a mortgage or personal loan. While having a credit card can help you improve your credit score, it can also hurt it. It's essential to know how to use a credit card responsibly, spending within your means and paying off your balance in full and on time every month. Credit cards can come with high interest rates compared to other financial products like personal loans or student loans. And unlike installment loans, which have predictable monthly payments, you must keep track of...
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‘We’re trapped’: Californians now face the dual nightmare of wildfires and a pandemic
3Sep By Desk TeamNo Comments
USA, World

‘We’re trapped’: Californians now face the dual nightmare of wildfires and a pandemic

Kena Hudson's 7-year-old son Clarence has asthma that's sometimes landed him in the hospital. Typically, when wildfire season starts in Northern California, he'll stay indoors but continue to see friends and attend school. This year, a record spell of wildfires is blanketing much of the state in smoke. Facing a dual threat of reduced air quality coupled with a coronavirus pandemic, Clarence will have to stay indoors around-the-clock. "We're in a pandemic and a heat wave, and we don't have air conditioning," said Hudson, who's based in Oakland, where temperatures are usually mild. "We can't open up the window, we're trapped, we're hot and no one can come over to play." Californians across the state are now facing a crisis across multiple fronts. As the coronavirus pandemic drags on, lightni...
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What if they had a tech war and nobody cared?
3Sep By Desk TeamNo Comments
China, Market, World

What if they had a tech war and nobody cared?

A pacifist meme from the Vietnam protest era asked what would happen if they gave a war and nobody came. The US is conducting a tech war, but equity markets don’t appear to care. Neither did the Chinese currency, which strengthened sharply overnight. Harsher-than-expected US sanctions against Chinese telecom manufacturers failed to ruffle A-Share and H-Share markets Tuesday, as the Shanghai Composite and the Hang Sheng Chinese Enterprises indices rose by 0.36% and 0.38%, respectively. One of Hong Kong’s best performers was the budget smartphone manufacturer Xiaomi, which is likely to gain market share in China due to Huawei’s inability to source top-of-the-line smartphone chips. The new US sanctions not only block Huawei from fabricating its own chip designs at Taiwanese foundries that u...
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