Hong Kong
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...
China achieves progress in battle against cyber crimes – report
China said it has made headway in cracking down on illegal online businesses, said a report on the country’s cybersecurity in 2019. The post China achieves progress in battle against cyber crimes – report appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
China takes over closed US consulate in Chengdu
The American flag was lowered at the US consulate in China’s Chengdu city on Monday and Chinese authorities entered the building, as Beijing carried out a Cold War-style retaliatory closure of the mission. Earlier in the morning state broadcaster, CCTV showed footage of the flag being lowered, after diplomatic tensions soared between the two powers with both alleging the other had endangered national security. Beijing later confirmed the consulate had closed at 10am (0200 GMT). “Afterwards, Chinese authorities entered through the front entrance and took it over,” the foreign ministry said in a statement. Relations have deteriorated in recent weeks in an intensifying standoff, with the Chengdu mission Friday ordered to shut in retaliation for the forced closure of Beijing’s consulate in Hou...
Zambia asks China to cancel its debt
File Photo Zambian President Edgar Lungu has asked Chinese President Xi Jinping for some “debt relief and cancellation” in a telephone conversation between the two leaders. That is according to a statement issued by Lusaka after the chat that reportedly took place on Monday. “President Lungu called for debt relief and cancellation in light of reduced revenue due to the negative impact of the pandemic, as well as competing needs for the country to secure adequate resources to fight the pandemic and to stimulate the economy,” said a statement issued by Spokesman Isaac Chipampe. Zambia’s public debt has increased significantly in recent years although it’s unclear exactly how much is actually owed to China. The two leaders agreed to continue working closely together to safeguard common intere...
Virgin Atlantic resumes Lagos-London flights August 24
Virgin Atlantic has announced its intention to resume flights from Lagos to London Heathrow from August 24, 2020 saying the international flight will be operated on its new A350-1000 aircraft and will provide connections to a range of US destinations. The Chief Commercial Officer of Virgin Atlantic, Juha Jarvinen, made this known as the airline promised to resume flying to 16 additional destinations around the world. “As countries around the world begin to relax travel restrictions, we look forward to welcoming our customers back onboard and flying them safely to many destinations across our network. “From 20th July we will resume services to New York, Los Angeles and Hong Kong; then from 1st August onwards, we will resume passenger flying to 17 additional destinations around the world inc...
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...