China 

China’s sanctions threat against US firms after Taiwan arms deal casts shadow over Gulfstream’s ‘optimism’

The threat of Chinese sanctions against firms from the United States over arms sales to Taiwan may cast a shadow over Gulfstream’s “optimism in the region”, according to a lawyer whose company has advised the business jet giant.General Dynamics, and its subsidiary Gulfstream Aerospace, as well as Honeywell and Oshkosh Corporation, were named in an article posted an article on the official WeChat channels of both the People’s Daily and state broadcaster CCTV on Sunday, criticising their… Source link

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China 

China may be courting Japan to cooperate with belt and road to allay controversy after yuan clearing deal

China’s decision last month to allow a Japanese bank to clear transactions valued in yuan raises the prospects of increased economic cooperation between the two countries, especially as China seeks to involve new countries in the Belt and Road Initiative in an attempt to fend off criticisms of its projects, analysts said.The People’s Bank of China last month named MUFG Bank as the first yuan clearing bank in Japan, and only the second non-Chinese bank after JPMorgan last year, to be allowed to… Source link

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US defence giant Honeywell distances itself from Taiwan under threat of China sanctions over arms deal

After China’s state media named several US firms allegedly threatened by sanctions over arms sales to Taiwan, American aerospace and defence giant Honeywell has said it had “no input” into the agreement between Washington and Taipei.Both the People’s Daily and state broadcaster CCTV posted an article on their official WeChat channels on Sunday criticising Honeywell, Oshkosh Corporation, General Dynamics and its subsidiary Gulfstream Aerospace, for their involvement in the sale of tanks and… Source link

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Korean video games firm Nexon fails to draw bid from Tencent, scraps deal potentially worth US$16 billion

Nexon founder Jungju Kim has scrapped plans to sell a controlling stake in its parent, NXC, two sources with direct knowledge of the matter said on Monday, scuppering potentially the largest deal in the gaming sector, at up to US$16 billion.Kim had been looking to sell the 98.6 per cent stake he and his wife hold in NXC, which in turn owns 48 per cent of Tokyo-listed South Korean video game publisher Nexon.Since it emerged in January, the sales plan has been dogged by funding challenges, the… Source link

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China 

US-China trade truce increases pressure at home for both Trump, Xi to cut a deal, analysts say

For decades, Jasco Products Company has outsourced production of its doorbells, lights and surge protectors to China without a second thought. But, a trade war with the United States that has been raging for the last year has put the Oklahoma-based company and thousands of other firms like it – both American and Chinese – at risk.The tit-for-tat battle between the world’s two largest economies is already weighing on business confidence, analysts have warned, and has the potential to tip the… Source link

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Money 

China insists US must remove all trade war tariffs as part of deal, says commerce ministry spokesman

China has insisted that all tariffs on Chinese imports added by the United States during the trade war must be scrapped immediately as part of any deal to end the year-long conflict, which would require the Trump administration to give up its position that some levies remain in place even after an agreement is reached.US President Donald Trump agreed to pause placing tariffs of up to 25 per cent on an additional US$300 billion of Chinese imports not yet subject to taxes after his meeting with… Source link

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China’s trade war manufacturing exodus could be hastened by EU-Vietnam trade deal, analysts say

Vietnam’s booming economy will see another surge of new investment after signing a free-trade agreement with the European Union that could hasten the exodus of manufacturers from China, analysts said.Now, Chinese firms looking to gain lower-tariff access to the European Union (EU) market are likely to be incentivised to open production in Vietnam, on top of the widespread supply chain shift that is already in motion due to firms seeking to avoid trade war tariffs on exports to the United States… Source link

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Canadian asset manager Brookfield looks past short-term row as it picks up US$1.5 billion Shanghai project, China’s second largest commercial property deal

Brookfield Asset Management, which traces its roots to a tram operator in Brazil at the turn of the 20th century, has its sights on the very long-term, a strategy that helped it seal the second-biggest commercial property acquisition in China by a foreign firm.The Toronto-based asset manager agreed in April to pay 10.57 billion yuan US$1.54 billion for the Huangpu Centre on the South Bund of Shanghai, with the plan to rename it One East when constructions are completed this year.“We are… Source link

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Vietnam 

VN stocks climb with hopes for trade deal, corporate earnings – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Inside a VietinBank office in Hà Nội. The bank shares surged 6.9 per cent on Monday. – VNA/VNS Photo Hoàng Hùng HÀ NỘI – Vietnamese shares started the third quarter on a positive note as expected as investors were upbeat on ratified trade deals and expectations for quarterly earnings reports. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange rose 1.65 per cent to close Monday at 965.61 points. It was also the strongest daily growth for the VN-Index since March. The VN-Index gained 0.72 per cent on…

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Vietnam 

ILO, Bayer congratulate Việt Nam, EU on signing free trade deal – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Việt Nam and the European Union signed the free trade agreement (EVFTA) and the EU-Việt Nam Investment Protection Agreement (EVIPA) on June 30 after nine years of negotiation. — Photo eeas.europa.eu The International Labour Organisation (ILO) has welcomed the signing of the EU-Việt Nam free trade agreement (EVFTA) on 30 June in Hanoi, which promotes the respect for fundamental labour rights as a basic condition for fair international trade. “I congratulate Việt Nam and the EU on this milestone. It is an excellent example of how free trade agreements and…

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