Tag: Business

Chinese companies mum as international companies condemn Myanmar’s growing violence
21Mar By Mike TrudellNo Comments
World

Chinese companies mum as international companies condemn Myanmar’s growing violence

Even though several multinational companies have publicly condemned the military coup in Myanmar, China has remained silent.According to media reports, Myanmar Centre for Responsible Business (MCRB) a Yangon-based rights group, has called for companies to sign a joint statement of concern for the coup, but companies from China are absent.A total of 216 companies have signed the statement yet there has been no participation from Chinese companies.This comes in the backdrop of several Chinese companies being the targets of arson attacks, which have increased public scrutiny over the stance of these companies on the coup. “China won’t allow its interests to be exposed to further aggression… If the authorities cannot deliver and the chaos continues to spread, China might be forced into taking ...
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Nepalese businessmen protest against ‘undeclared blockade’ by China
30Jan By Mike TrudellNo Comments
China, World

Nepalese businessmen protest against ‘undeclared blockade’ by China

Suffering huge loses, local businessmen in Nepal have launched a protest in Rasuwa against China’s ‘undeclared blockade’ of cross-border trade.During the demonstration, businessmen gathered in front of the Rasuwagadhi Customs Office holding placards with messages such as “ensure smooth movement of containers”, “ensure the safety of Nepalis living at the border”, “abide by international trade laws”, “abide by trade and transit agreements”, “take initiative for easy trade with China”, and “end undeclared blockade”.They said that importing Chinese goods through the crucial Rasuwagadhi border was very difficult. Nepali businessmen have also complained that they had to pay a hefty bribe to Chinese agents to import goods across the border.Earlier, locals had staged a protest against China at Tat...
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Over 3.65 lakh J&K accounts benefited under business revival package
24Dec By Joe RodriguezNo Comments
Asia

Over 3.65 lakh J&K accounts benefited under business revival package

Over 3.65 lakh accounts in the Indian union territory of Jammu and Kashmir (J&K) have benefited from the first tranche of relief released by the government under its ‘Business Revival Package’ for eligible businesses affected by the ongoing covid-19 pandemic and the restructured accounts of 2014-floods and 2016-disruption.In a statement, the J&K bank said, “As the leading bank, J&K Bank alone has received Rs 222 crores out of the Rs 250 crores released by the government in its first tranche so far out of Rs 950 crores sanctioned for the banking sector. The bank has already passed the amount of Rs 222 crores as relief to 2.61 lakh eligible beneficiary accounts. Meanwhile, other banks operating in the region have released over Rs 27 crore to 1.04 lakh beneficiary accounts.”The J&...
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UAE-India Food Security Summit: Lulu group inks MoU with Fruit Master Agro Fresh J&K
18Dec By Joe RodriguezNo Comments
Asia, Market

UAE-India Food Security Summit: Lulu group inks MoU with Fruit Master Agro Fresh J&K

In a significant development, Jammu and Kashmir’s Fruit Master Agro Fresh and Dubai based Lulu group signed an MoU during the UAE-India Food Security Summit for supply of apple and other fruits for super markets of Lulu group across the Gulf Countries.During B2B sessions in the Summit, a meeting between a delegation from Jammu and Kashmir led by Navin Choudhary, Principal Secretary Agriculture and Horticulture, and top management of Lulu group led by its Chairman and Managing Director, Yousuf Ali, several decisions were taken to promote export of agriculture and horticulture products from the Indian union territory of Jammu and Kashmir to entire gulf region using stores of Lulu group.Group of leading entrepreneurs from Jammu and Kashmir made representation to potential UAE importers where ...
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Despite growing tensions, China buying computer chips from Taiwan firms
27Nov By Walter ParezNo Comments
Asia, China, Market, World

Despite growing tensions, China buying computer chips from Taiwan firms

Despite growing tensions between Taiwan and China, Chinese technology companies have increased orders for computer chips or semiconductors made in Taiwan.According to media reports, Taiwan has reported a six per cent jump in export from July through September this year.Alicia Garcia Herrero, chief Asia-Pacific economist with the French investment bank Natixis said, “They (Chinese firms) know they’re not yet able to produce at least the highest-end semiconductors needed for 5G.”She added that Taiwan makes top-level semiconductors and is unlikely to give up as a leader in the field. Taiwan factories produce some of the world’s top computer chips. But during the past four years, it has pushed companies to depend less on the Chinese market.The two countries have been locked in a political disp...
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J&K Bank starts special desks for youth, women entrepreneurs
12Oct By Joe RodriguezNo Comments
Asia

J&K Bank starts special desks for youth, women entrepreneurs

A special desk for youth and women entrepreneurs was inaugurated by the Jammu and Kashmir (J&K) Bank Chairman and Managing Director (CMD) R.K Chhibber and Financial Commissioner (Finance Department), J&K Government, Dr Arun Kumar Mehta amid a round of applause at the bank’s corporate headquarters.The bank’s special desks have been created in line with the announcement made by J&K Lieutenant Governor Manoj Sinha while unveiling the economic package of Rs 1350 crore for the union territory of J&K.Complying with the government directions, the bank created special desks for youth and women entrepreneurs at all its zonal offices to counsel them, facilitate their commercial ventures and expedite the disposal of their credit-proposals at respective business units/offices.Speaking ...
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## J&K Bank CMD inaugurates new corporate premises of JKB financial services ##
10Oct By Joe RodriguezNo Comments
Asia, Market

## J&K Bank CMD inaugurates new corporate premises of JKB financial services ##

Jammu and Kashmir (J&K) Bank Chairman and Managing Director RK Chhibber inaugurated the new Corporate Office of JKB Financial Services - a wholly owned subsidiary of J&K Bank at Jawahar Nagar, Srinagar.With its strategic location and spacious premises, the new office is equipped with state-of- the-art technology infrastructure.The Bank’s CMD also launched multiple business and IT initiatives rolled out by the company like Dynamic Pricing Model, Margin Trading Facility, Online Demat and Trading Account Opening and Online Mutual Fund Management, aimed at enriching the customers’ digital experience besides increasing the company’s digital footprint.The entire product portfolio of the company has been devised to meet the dynamic customer requirements and increase public awareness on in...
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How China’s top-notch mass surveillance system threatens global freedoms
26Sep By Mike TrudellNo Comments
China, Market, USA, World

How China’s top-notch mass surveillance system threatens global freedoms

Going by the records of Beijing Public Safety Bureau, every step, every action is monitored by state-of-the-art surveillance cameras. Facial recognition algorithms filed away in a secret database could land you in legal trouble for something you did near your front door. A semi-political post made in a private chat could lead to the loss of your job.Yet it is only the beginning of the rise of technologically-advanced China and its dystopian dreams. It might be a deterrent to crime, as the Chinese Communist Party (CCP) leadership says, but it also means a substantial loss of privacy and free expression."The Chinese Communist Party is committed to the production and use of technology that controls and surveils its population," Chairman Robin Cleveland and Vice Chairman Carolyn Bartholomew of...
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Thailand delays US$724m China submarine deal after public anger
25Sep By Joe RodriguezNo Comments
Asia, China

Thailand delays US$724m China submarine deal after public anger

Facing heat from the public, Thailand has delayed its controversial US$724 million purchase of two submarines from China as the kingdom's economy flatlines due to the coronavirus pandemic.Under a 2015 deal, Thailand was one of the first countries to buy Chinese naval hardware and finalised its purchase of three submarines in 2017, with the first one expected to be delivered in 2023.An order for two more for 22.5 billion baht (US$724 million) was approved in August by a parliamentary sub-committee - a move which drew public outrage as Thailand struggles with a freefalling economy.Angry citizens took to social media to criticise the deal, and the hashtag "People don't want submarines" trended on Twitter.Government spokesman Anucha Burapachaisri later announced that Prime Minister Prayut Chan...
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Indonesia, Australia come into ‘Comprehensive Economic Partnership Agreement’
28Jul By Michael SmithNo Comments
USA

Indonesia, Australia come into ‘Comprehensive Economic Partnership Agreement’

In order to reduce trade barriers and boost economic growth, Australia and Indonesia came into the “Indonesia-Australia Comprehensive Economic Partnership Agreement” (IA-CEPA) on July 5.The agreement will open up new opportunities for Australian and Indonesian businesses, primary producers, service providers and investors.“The mutual benefits from this Agreement are critical. Australia wants not only a stronger Australia but also a stronger Indonesia. By reducing trade barriers, we can grow both of our economies and by encouraging trade and investment in areas of high potential for Indonesia, we can build greater capacity for its continued successful development,” the Australian government said in a statement.A key component of the IA-CEPA is a sweeping free-trade agreement (FTA) that will...
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