Hong Kong

China possibly committed ‘genocide’ against Xinjiang Muslims

The Congressional-Executive Commission on China (CECC) said on Thursday that new evidence had emerged in the past year that “crimes against humanity – and possibly genocide – are occurring”. The CECC also accused China of harassing Uighurs in the US. China has been widely condemned for setting up complexes in Xinjiang that it describes as “vocational training centres” to stamp out “extremism” and give people new skills, but others have called them concentration camps. The United Nations says at least one million Uighurs and other Muslims have been detained in Xinjiang. Faith leaders, activist groups and others have said crimes against humanity, including genocide, are taking place there. Beijing denies abuse accusations. The CECC report called for a formal US “determination on whether atro...

Abuja chamber welcomes FCT tax harmonisation

Abuja Chamber of Commerce and Industry (ACCI) has welcomed the plan by the Minister of the Federal Capital Territory (FCT), Alhaji Muhammad Bello to harmonise tax policies within the territory in order end multiple taxations on by businesses in the territory. The President of ACCI, Alhaji Abubakar, in a statement yesterday, commended the minister for acknowledging the challenges faced by businesses within the territory due to series of levies, charges and taxes from Federal, FCTA and Area Councils. “Multiple taxations within the FCT and the larger national economy has imposed crippling consequences on businesses. “The fallout has been many failed businesses, the rising level of inflation, the non-thriving of existing ones and the lack of capacity to engage many unemployed youths. “We want ...

Report: Jack Ma’s Ant Group considers overhaul due to regulatory pressure

Chinese financial technology giant Ant Group plans reorganisation that would allow it to be regulated more like a bank, Bloomberg reports. Jack Ma’s besieged Ant Group Co. is planning to fold its financial operations into a holding company that could be regulated more like a bank, according to people familiar with the situation, potentially crippling the growth of its most-profitable units. The fintech giant is planning to move any unit that would require a financial license into the holding company, pending regulatory approval, said the people, who asked not be named because the matter is private. The plans are still under discussion and subject to change, the people said. Ant declined to comment. The operations that Ant is looking to fold into the holding company include wealth managemen...

U.S. warns Pacific islands about Chinese bid for undersea cable project

The United States has warned Pacific island nations about security threats posed by a Chinese company’s cut-price bid to build an undersea internet cable, two sources told Reuters, part of an international development project in the region. Huawei Marine, which was recently divested from Huawei Technologies Co Ltd and is now majority-owned by another Chinese firm, submitted bids along with French-headquartered Alcatel Submarine Networks (ASN), part of Finland’s Nokia, and Japan’s NEC, for the $72.6 million project backed by the World Bank and Asian Development Bank (ADB), the sources with direct knowledge of the project details said. The project is designed to improve communications to the island nations of Nauru, Federated States of Micronesia (FSM) and Kiribati. Washington sent a diploma...

U.S. slams China over Jimmy Lai’s trial

U.S. State Secretary Michael Pompeo has slammed China for charging Hong Kong media mogul, Jimmy Lai, under the draconian National Security Law and demanded that charges must be dropped. Pompeo further accused the Chinese Communist Party of its authoritarian rule and said that China was making a mockery of justice in the region. “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,” Pompeo tweeted. Jimmy 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. The offence carries a maximum penalty...

Oil prices slide in lockdown-driven rout

Oil prices dived Thursday on demand fears as more nations go into lockdown to staunch the spread of the coronavirus, while stock prices attempted a modest rebound. Both main oil contracts fell five percent for part of the day before clawing back some of their losses, extending this week’s meltdown to plumb four-month lows on virus-driven demand fears. “The new lockdowns have since yesterday caused a carnage in the oil market,” said Bjornar Tonhaugen, head of oil markets at Rystad Energy. “Oil demand will lose ground as a result of the new lockdowns… Prices now naturally decline on this grim prospect,” he added. The drop in oil prices will increase the pain on oil companies. Exxon Mobil announced Thursday it was eliminating 1,900 US jobs as part of a cost-cutting drive necessitated in part ...

European Union backs Ngozi Okonjo-Iweala for WTO role

The European Union has endorsed former Nigerian finance minister Ngozi Okonjo-Iweala as the next director-general of the World Trade Organisation, Bloomberg reported. The business news outlet cited anonymous officials familiar with the matter that all the 27 EU member countries agreed on Monday in Brussels to support Mrs. Okonjo-Iweala. Bloomberg also reported that the United States has decided to back Yoo Myung-hee, South Korea’s trade minister, for the role. The position has been fiercely contested amongst candidates of different countries since Roberto Azevedo resigned in August. Last month, Okonjo-Iweala and Myung-hee were selected as the last two candidates in the contest. The EU’s endorsement is seen as a significant boost for Okonjo-Iweala’s candidacy, with the final winner expected...

US eases China travel warning, citing virus progress

The United States on Monday eased its warning against travel to China, acknowledging that the nation had made progress against Covid-19 despite frequent US criticism of its pandemic role. The State Department still urges Americans to reconsider travel to China, but it upgraded its advice from a blanket warning not to go to the country. The People’s Republic of China “has resumed most business operations (including day cares and schools),” the State Department said. “Other improved conditions have been reported within the PRC,” it said. The State Department separately still cautioned US citizens about the risk of arbitrary arrest in China, including in Hong Kong as Beijing enforces a tough new security law. The updated travel advice comes a week after China declared victory over the virus a...

EU, China to hold talks on blocked investment deal

Agence France-Presse German Chancellor Angela Merkel is to speak with Chinese President Xi Jinping on Monday as part of high-level talks between Beijing and the European Union that should reinvigorate stalled talks on an investment pact. The EU wants to agree on a plan to wrap up the deal, according to a high-ranking EU official, with the goal being to conclude negotiations by the end of the year. The European Commission has been negotiating with China on an investment agreement for more than six years. But Brussels wants further concessions from Beijing on market access and assurances for EU companies. From the EU side, Commission President Ursula von der Leyen and European Council Charles Michel are to participate in the video meeting, with an agenda covering climate change, economic and...

US sanctions 11 entities for aiding Iran’s oil sector

The US imposed sanctions on 11 entities and three executives Thursday for allegedly aiding an Iranian energy firm that was blacklisted in January, and helping Iran export petroleum products . The new designations of companies and executives include six under the Treasury Department’s authorities and five under the State Department. All are based in Iran, the United Arab Emirates (UAE) or China. The State Department’s sanctions target Iran-based Abadan Refining Company; China-based Zhihang Ship Management, New Far International Logistics LLC and Sino Energy Shipping; and UAE-based Chemtrans Petrochemicals Trading. The department also imposed sanctions on New Far executive Min Shi, Sino Energy executive Zuoyou Lin and Abadan managing director Alireza Amin. “All entities targeted today contin...

Premier League terminate £490 million TV deal in China

The Premier League has terminated its TV rights deal with China, its biggest overseas contract, leaving a huge hole in clubs’ finances. The deal with Chinese broadcaster PPTV was worth around £490m and had lasted only one of its three years. The conflict is said to have been around a fee of £160m that the Premier League was owed in March but did not receive. “The Premier League confirms that it has today terminated its agreements for Premier League coverage in China with its licensee in that territory,” a spokesman said on Thursday. “The Premier League will not be commenting further on the matter at this stage.” It is not known if the conflict is based purely on money or involves the escalating political tensions between China and the UK government. Boris Johnson announced in July that Hua...

  • 1
  • 2