China urges world to reject protectionism on January 19, 2017DAVOS: Chinese President Xi Jinping urged the world to reject protectionism and instead work together to guide and adapt to economic globalization in a keynote speech to the World Economic Forum (WEF) in Switzerland on Tuesday. Speaking at the opening ceremony of the annual gathering of global powerbrokers in Davos, Xi acknowledged that economic globalization […]
Pain and gain of globalisation on January 18, 2017HANGZHOU/ZHENGZHOU: Quandian village has been in the wig business for over a century. It started out by trading needles, combs and forks for hair clippings, and peddling long, straight hair to German merchants. The village in Xuchang County, central China’s Henan Province, has been a beneficiary of globalization and is home to Rebecca Hair Products, […]
PM must spell out Britains position on EU single market by mid-February on January 15, 2017LONDON: Theresa May’s government should set out its position on Britain’s post-Brexit membership of the European single market by mid-February, a parliamentary committee said in a report Saturday. In its first report, the Exiting the European Union Committee called for transitional arrangements on trade, no return to tariffs for British businesses, and parliamentary vote on […]
Abu Dhabi posts rise of 8pc in luring investment on January 15, 2017DUBAI: Foreign Direct Investments (FDIs) in UAE capital Abu Dhabi grew eight percent year on year, equaling 95.145 billion dirham (25.92 billion dollars) compared with 88.95 billion dirham (24.24 billion dollars) in 2015, UAE state news agency WAM reported Saturday. The WAM report quoted new figures issued by the Statistics Center Abu Dhabi (SCAD) for […]
Mobile payments expand fast in Taiwan on January 8, 2017TAIPEI: WeChat payment and Alipay, the most popular mobile payment services in the Chinese mainland, have grown rapidly in Taiwan. WeChat payment and Alipay are increasingly accepted at various stores and supermarkets in Taipei, along with Visa, UnionPay and Line Pay. At a cosmetics store in the Xinyi district of Taipei, a mainland customer paid […]
Company fined for 2,700 tonnes of acid dumped in east China rivers on January 8, 2017NANJING: Textile and dye manufacturer Dystar (Nanjing) Dyestuff Company has been fined for improper handling of 2,700 tonnes of acid that ended up in east China rivers. According to the Intermediate People’s Court of Yangzhou in Jiangsu Province, the acid was a waste product of textile and dye manufacturing. The Nanjing-based company sold the waste […]
Baidu, CITIC approved to set up China’s first independent direct bank on January 8, 2017BEIJING: Chinese Internet giant Baidu has been approved to open a direct bank, finally joining its tech counterparts in offering banking services. The country’s top banking regulator has approved the establishment of Baixin Bank, which has joint investment from China CITIC Bank and Baidu to offer direct banking services. This is the first time for […]
Nobel laureates warn Trump’s economic policies could lead to deep recession on January 8, 2017WASHINGTON: Several Nobel Prize-winning economists said Friday that US President-elect Donald Trump’s economic policies could lead to a deep recession of the US economy, media reported. Trump’s plans for big tax cuts and spending increases pose risks. “It could lead to an explosion of public debt and ultimately cause a serious loss of confidence and […]
Weak marketing laws mean Aussie superfoods arent that super on January 7, 2017MELBOURNE: Allowing Australian businesses to classify acai berries as “superfoods” highlights a weakness in Australia’s food marketing laws, a leading legal expert has said on Friday. Professor Christine Parker from the University of Melbourne said up to one third of all acai berry products on Australian supermarket shelves carry unproven health claims – ranging from […]
Excessive time in front of TV affecting boys mental health on January 6, 2017Young males who spend excessive time in front of the television and playing video games are more likely to develop behavioural issues, new Australian study has found. Researchers from the Murdoch Children’s Research Institute probed nearly 1,000 eight and nine-year-olds for their study, in which they found that increased exposure to electronic media was associated […]