Global 

China to hit Indonesia, Japan, EU, South Korea stainless steel imports with anti-dumping duties

The report also cited Trump’s promise to suspend the imposition of new tariffs on Chinese goods and allow US firms to sell products to “relevant Chinese companies”, in an apparent reference to telecoms giant Huawei. The Xinhua report also noted that the Trump administration announced on July 9 that it would exempt 110 Chinese products – from medical equipment to key electronic components – from import tariffs. The announcement of new Chinese purchases of US farm products came only a few days after that China was not living up to…

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Home 

DJI hit by American technology supplier’s ban on Chinese-made drones over security concerns

A supplier of drone technology to dozens of state and local law enforcement and public safety agencies, located in the United States and a handful of other countries, will stop working with Chinese drone manufacturers, citing security concerns.Cape Productions, a Redwood City, California-based start-up, plans to tell customers on Wednesday in the US that it will stop selling software compatible with Chinese drones to its clients, most of whom use the tools to remotely dispatch and operate the… Source link

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Money 

Donald Trump goads China over record low GDP growth rate as US trade war tariffs hit slowing Chinese economy

US President Donald Trump used his first tweets of the day on Monday to goad China about its slowest gross domestic product growth rate on record, while better-than-expected economic data for June was met with “scepticism” and “caution” by analysts, rather than as a sign of a turnaround in the economy.China’s gross domestic product (GDP) growth slid to 6.2 per cent in the second quarter of 2019, the lowest reading since records began in March 1992, and below the levels reported during the… Source link

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Singapore 

Electricity tariffs to rise 6.4 per cent in third quarter to hit highest rate in nearly 5 years; gas tariffs to increase by 1.6 per cent, Singapore News

SINGAPORE – Electricity tariffs are set to rise by an average of 6.4 per cent in the third quarter of this year, SP Group said on Saturday (June 29). Gas tariffs for households are also set to increase by 1.6 per cent in the third quarter, City Gas said. For the period from July 1 to Sept 30, electricity tariffs will increase by 1.43 cents per kilowatt hour compared to the previous quarter. Excluding the goods and services tax, this translates to a rise from 22.79 cents per kwh to…

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Vietnam 

Vietnamese firms hit with Industry 4.0 warning – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Phan Đức Hiếu, deputy director of the Central Institute for Economic Management speaks at the conference. — VNA/VNS Photo Danh Lam HÀ NỘI — Business can grow quickly if they stay up to date with technology, but they risk falling behind if they stay stuck in the past, an expert has said. Lê Xuân Đình, Editor-in-Chief of the Ministry of Planning and Investment’s Economy and Forecast Review, gave the warning at a conference in Hà Nội on Wednesday. The event discussed how to help Vietnamese entrepreneurs make the best use of opportunities and apply…

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Singapore 

UOB banking customers hit by near 2-hour service outage affecting ATMs, mobile app, Singapore News

SINGAPORE – Customers of United Overseas Bank (UOB) were unable to access several banking services for close to two hours on Saturday (June 22). Some of them took to social media to air their grievances, posting to UOB’s Facebook page to complain about the service disruption. Complaints started surfacing on other social media platforms as well after 5pm. In response to queries from The Straits Times, an UOB spokesman confirmed that ATM, card payment, internet banking and mobile application services were disrupted shortly after 5pm on Saturday. We apologise to…

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Home 

As talk of global recession emerges amid US-China trade war, deal flows and sentiment take a hit

Companies are taking a much more cautious view on mergers and acquisitions this year, particularly when it comes to transactions involving the United States and China, as the world’s two biggest economies square off in an escalating trade war, according to deal advisers.Transaction volumes – and the value of deals – are down, driven by fewer mega deals and increased uncertainty about the global economic outlook, advisers said.According to research and financial data provider Mergermarket, the… Source link

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China 

Greater Bay Area entrepreneurs fear fallout on their businesses after US tech sanctions hit Huawei’s operations

It’s business as usual for Zhou Kang.The Shenzhen-based entrepreneur’s company, Czur Tech, is a niche maker of portable digital scanners that requires components from more than 200 suppliers. He sources most of them locally, except for a few key chips and sensor, which he imports from Japan. And so far this year his company has exported more than 10,000 scanners to the US priced between US$299 and US$3,000 that can convert a 300-page book into a digital format within minutes.Although the… Source link

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Vietnam 

Mobile phone and spare part imports hit US$4.91 billion – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Việt Nam mostly imported mobilephones from China and South Korea in the period. — Photo cafef.vn HÀ NỘI — Việt Nam spent US$1.1 billion to import mobile phones and spare parts in May, up 36.2 per cent from the same period last year, according to the Ministry of Industry and Trade (MoIT). In the first five months of the year, total imports of the products were worth $4.91 billion, a 3.9 per cent year-on-year decrease. Earlier, imports of mobile phones and spare parts into Việt Nam fell in the…

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Home 

Hong Kong stocks climb most in six months on upbeat China export data; Macau casino operators hit a daily hot streak

Hong Kong and mainland stocks rose on Monday, with the city’s benchmark posting its biggest gain in six months, after official data showed China exports topped estimates.The Hang Seng Index rallied 2.3 per cent to 27,578.64 for its biggest gain since December 3. China’s Shanghai Composite Index added 0.9 per cent to 2,852.13, closing higher for the first time in seven days. Both markets were shut on Friday for a public holiday.Investors got a respite from a report released by the customs office… Source link

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