World

US, EU must end trade disputes, Brussels says in Biden wish-list
14Dec By Desk TeamNo Comments
Market, World

US, EU must end trade disputes, Brussels says in Biden wish-list

BRUSSELS: The European Union and the United States should resolve their trade disputes after US President-elect Joe Biden takes office in January in a "new transatlantic agenda", the EU executive said on Wednesday (Dec 2), laying out its wish-list for better ties. After four years of US President Donald Trump's "America First" agenda during which Washington imposed tariffs on Brussels on national security grounds, the EU is now looking for close cooperation with Biden on almost all issues. The United States and the EU "must work closely together on solving bilateral trade irritants", the European Commission said in a proposal to EU governments, noting that EU-US commerce accounts for a third of world trade. However, the 12-page document presented by EU foreign policy chief Josep Bor...
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US slams China for charging Jimmy Lai under National Security Law
13Dec mmBy Mike TrudellNo Comments
China, Singapore, World

US slams China for charging Jimmy Lai under National Security Law

The United States Secretary of State Michael Pompeo has slammed China for charging Hong Kong media mogul Jimmy Lai under its draconian National Security Law and demanded that charges must be dropped.Taking to Twitter, Pompeo said: “Hong Kong’s National Security Law makes a mockery of justice. @JimmyLaiApple’s only “crime” is speaking the truth about the Chinese Communist Party’s authoritarianism and fear of freedom. Charges should be dropped and he should be released immediately.”Jimmy Lai is set to appear in West Kowloon Court on Saturday after being charged with colluding with foreign powers under the Beijing-imposed national security law, an offense that carries a maximum penalty of life imprisonment.Earlier, Lai, the founder of the Apple Daily newspaper was reported to have been charge...
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China bails out Pakistan to pay Saudi debt again
13Dec mmBy Mike TrudellNo Comments
China, Singapore, World

China bails out Pakistan to pay Saudi debt again

Pakistan is saved yet again as China has agrees to immediately provide $1.5 billion financing line to Islamabad to repay the $2 billion Saudi Arabia debt.Now, out of $2 billion, Pakistan is set to return the $1 billion on Monday, said sources in the finance ministry and the State Bank of Pakistan (SBP). “The remaining $1 billion is due in January,” they added.“However, this time, China has not given the loan from its State Administration of Foreign Exchange, commonly known as SAFE deposits, nor has it extended a commercial loan,” said the sources.Instead, both the countries have agreed to augment the size of a 2011 bilateral Currency-Swap Agreement (CSA) by an additional 10 billion Chinse Yuan or around $1.5 billion, the sources said. This has increased the size of the overall trade facili...
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Chinese embassy in US retweets Trump’s election fraud claim, blames hackers
10Dec mmBy Mike TrudellNo Comments
China, Singapore, World

Chinese embassy in US retweets Trump’s election fraud claim, blames hackers

In a major blunder, the Chinese embassy in the US retweeted President Donald Trump's tweet, in which he accused the Democrats of cheating in the presidential election. However, later the embassy said that its official Twitter account was hacked.Taking to Twitter, Trump wrote, "If somebody cheated in the Election, which the Democrats did, why wouldn't the Election be immediately overturned? How can a Country be run like this?"The post carrying a Twitter warning that the claim of election fraud is "disputed" was retweeted by the official account for the Chinese government's presence in the US.The embassy then tweeted saying: "The Chinese Embassy twitter account was hacked this afternoon and we condemn such an act. For clarification, the Embassy didn’t do any retweeting on Dec.9."This comes d...
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What you need to know about the latest travel restrictions for Japan
10Dec By Desk TeamNo Comments
China, Singapore, World

What you need to know about the latest travel restrictions for Japan

As the world continues to battle the COVID-19 pandemic, Japan is cautiously relaxing its strict border control policy to start allowing more foreign nationals to enter the country. With the latest revision to its travel restrictions, which came into effect earlier in November, the government has changed some procedures for new arrivals from abroad. While preparing for next year’s Tokyo Olympics and Paralympics, authorities are also working toward easing the restrictions further for visitors planning to attend the sporting extravaganza. The government has implemented separate sets of rules for travelers from regions placed at Level 3, the second-highest under the nation’s travel advisory system and under which all travel is warned against, while exempting from mandatory testing those from...
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Despite hopeful signs, Tokyo and Seoul miles apart on wartime labor
10Dec By Desk TeamNo Comments
Asia, China, Singapore, World

Despite hopeful signs, Tokyo and Seoul miles apart on wartime labor

Over the past few weeks South Korea has dispatched high-ranking government officials and lawmakers to Japan, seeking a breakthrough in a bilateral relationship characterized by some to be in its worst state since 1965 when diplomatic relations were normalized. South Korea and especially President Moon Jae-in seem eager to patch up the fractured relations, seizing changes in leadership in Japan and the United States and a summit scheduled to be hosted by Seoul as a golden opportunity to score diplomatic points and boost popularity. But Japan has remained unmoved by South Korea’s passionate overtures, with the issue of compensation over wartime labor being a sticking point between them. The two sides have been at a stalemate for years over court proceedings to seize and liquidate Japanese...
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China a ‘principal military, economic threat’ in Asia: US Commerce Secretary
9Dec mmBy Mike TrudellNo Comments
Asia, China, Market, Singapore, World

China a ‘principal military, economic threat’ in Asia: US Commerce Secretary

China continues to be both the largest potential market and the principal military and economic threat in the Asian region, US Secretary of Commerce Wilbur Ross said on Tuesday.Speaking at the Milken Institute Asia Summit, Ross said: “China accounts for 210 out of 539 anti-dumping and countervailing duty orders imposed by the U.S. In addition, China makes up a “good portion” of the U.S. entity list that restricts companies’ access to American suppliers for national security reasons, he said.Anti-dumping and countervailing duties are slapped on products suspected of being sold at an unfairly low price. Chinese firms that have been put on the entity list include telecommunications giant Huawei.Commenting on the recently signed between China and 14 other Asia-Pacific Countries, Ross said that...
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The best brick-and-mortar savings account for banking at PNC Bank
8Dec By Desk TeamNo Comments
Market, Singapore, USA, World

The best brick-and-mortar savings account for banking at PNC Bank

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC will update as changes are made public. Traditional brick-and-mortar savings accounts can be a simple but stable solution for keeping your money secure. They mostly all earn the same interest rate, come with minimum balance requirements and monthly fees. Account holders also have access to their thousands of in-person branches and ATMs, one of the most common reasons why people opt for big banks. With approximately 2,300 branch locations and nearly 18,000 PNC and PNC Partner ATMs, PNC Bank is one of these large brick-and-mortar banks. It stands out, however, for offering a savings account option called Virtual Wallet®, which uses innovative ...
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An outsider’s look at the problems plaguing rural Japan
8Dec By Desk TeamNo Comments
Market, Singapore, USA, World

An outsider’s look at the problems plaguing rural Japan

It’s not something you typically see: a South Indian Masters graduate and former architectural designer assisting with freeze-drying traditional food items in a remote village in mountainous Yamagata Prefecture. But for Priya Mu, that’s just part of the job. Mu is a community intern for the village of Nakatsugawa (not to be confused with the town of the same name in Gifu Prefecture), named one of the 100 most beautiful villages in Japan for its unique landscape, fronting a dramatic mountain range, and well-preserved customs and culture, including snow festivals in both winter and summer. Working closely with local village leaders, Mu assists farmhouse bed-and-breakfasts to develop their nōhaku Eigo — service-industry language skills that help improve communication with foreign visitors — ...
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NATO must devote more time, action to counter security challenges posed by China: Report
7Dec mmBy Mike TrudellNo Comments
China, Singapore, World

NATO must devote more time, action to counter security challenges posed by China: Report

North Atlantic Treaty Organisation (NATO) in its latest report titled 'NATO 2030 - United for a New Era report' has said that it must devote more time, political resources, and action to counter the security challenges posed by China.The report has also recommended a special unit within the Joint Intelligence and Security Division (JISD) to monitor Russia-China cooperation impacting Euro-Atlantic security.The internal political differences are "dangerous" as they help the "external actors, and in particular Russia and China, to exploit intra-Alliance differences and take advantage of individual Allies in ways that endanger their collective interests and security", the report stated."This includes actions that are directly relevant to NATO's traditional geographic and functional mission but...
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