Business

US trade negotiators to visit China on March 28-29: Beijing access_timeMarch 21

BEIJING– US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will visit China on March 28-29 for a fresh round of talks aimed at resolving the bruising trade war, the Chinese commerce ministry said Thursday.  ...

Prime Minister Oli buys Trishuli III 'B' share access_timeMarch 21

Kathmandu–Prime Minister KP Sharma Oli bought 10,000 points share of the Trishuli III 'B' hydropower project as part of the launch of 'people's hydroelectricity programme'.  PM Oli applied for the share at a programm...

U.S. plan to cut Iran's oil exports to have global consequences: Iranian minister access_timeMarch 17

TEHRAN–The U.S.' plan to cut down Iran's oil exports to zero would have a negative impact on the global oil market, Iranian Minister of Petroleum Bijan Namdar Zanganeh was quoted as saying by Tasnim news agency on Sunday.  "We ...

Gold price closes higher in Hong Kong access_timeMarch 13

HONG KONG–The gold price in Hong Kong closed at 12,210 Hong Kong dollars (about 1,555.41 U.S. dollars) per tael on Wednesday, up 88 Hong Kong dollars from the previous trading day, according to the Chinese Gold and Silver Exchange Society. (1 U.S...

WH official: US, China in ‘final weeks’ of trade talks access_timeMarch 13

WASHINGTON– The top U.S. trade negotiator suggests that the U.S. and China are nearing an agreement that would end their trade conflict, but wouldn’t commit to a specific time frame.  “Our hope is that we are in the final w...

Volkswagen says to cut up to 7,000 jobs at VW brand access_timeMarch 13

FRANKFURT AM MAIN– German automaker Volkswagen said it would eliminate up to 7,000 jobs by 2023 as it seeks to accelerate its transition to electric vehicles, although the cuts should be achieved via retirement offers.  "Volkswagen wil...

EU adds 10 countries, including UAE, to tax blacklist access_timeMarch 12

BRUSSELS– The European Union expanded its tax haven blacklist by 10 countries on Tuesday, adding the United Arab Emirates and Bermuda despite the objections of powerful member states such as Italy.  The list, now 15 countries long, was ...

US, China negotiators talk but no date for Trump-Xi trade summit access_timeMarch 12

BEIJING–Top US and Chinese officials held phone talks Tuesday to discuss the next steps in trade negotiations, Chinese state media said, as the White House said no date has been set for a summit.  US Treasury Secretary Steven Mnuchin an...

Trump to seek another $8.6 billion for border wall access_timeMarch 11

WASHINGTON– US President Donald Trump is seeking $8.6 billion in fresh funding for a wall on the US-Mexico border, likely triggering another fight with Congress.  The 2020 budget request, which is set to be formally unveiled Monday, wou...

Helsinki-Tallinn tunnel to get $16.8 billion from Touchstone access_timeMarch 8

HELSINKI– FinEst Bay Area Development said on Friday it had signed a memorandum of understanding for 15 billion euros ($16.8 billion) in financing with China’s Touchstone Capital Partners for its undersea train tunnel project linking Helsin...

Tesla gets $520 mn funding for first Chinese plant access_timeMarch 8

SHANGHAI– Electric carmaker Tesla has won more than $520 million in loans from Chinese banks to build its first overseas car plant near Shanghai, the first foreign automaker to wholly own a factory in China.  The funding, announced on T...

China's imports, exports tumble more than expected in February access_timeMarch 8

BEIJING– China's exports and imports plummeted much more than expected in February, official data showed Friday, adding to worries about slowing growth in the world's number two economy as it fights a trade war with the US.  Its pol...

China's Huawei sues US over federal ban on its products access_timeMarch 7

SHENZHEN, China– Tech giant Huawei on Thursday opened a legal front in its counter-offensive against US warnings that it could aid Chinese intelligence services, filing suit to overturn a US law that bars federal agencies from buying its products...

Qatar raises $12 bn in bond sale despite political crisis access_timeMarch 7

DOHA– Qatar has sold bonds worth $12 billion (nine billion euros), the finance ministry said Thursday, attracting strong demand despite an economic and diplomatic boycott by its former Gulf allies.  "The state of Qatar has achieved...

Service resumes after paragliding companies agree to pay tax access_timeMarch 6

Pokhara– Paragliding service, which was said to be closed from today, has been resumed after companies, operating paragliding flights in Pokhara, agreed to pay tax to Pokhara metropolitan city.  The Pokhara metropolis had warned of clos...

UK car sales back on track after bumpy ride access_timeMarch 5

LONDON– New car sales in Britain rose in February from a year earlier, reversing five straight monthly declines despite fears over Brexit and China's economic slowdown, data showed Tuesday.  New registrations for all cars increased ...

India plays down end to US trade preferences access_timeMarch 5

NEW DELHI– India played down on Tuesday President Donald Trump's intention to end certain trade preferences, saying the impact on New Delhi's exports to the US would be minor.  Annual Indian exports to the United States are...

China says 'still lots left to do' in US trade talks access_timeMarch 5

BEIJING–US-China trade talks have been "very difficult and taxing" and negotiators still have "lots left to do", but breakthroughs have been made in some areas, China's commerce minister said Tuesday.  The commen...

Talks with protesting gas entrepreneurs becoming effective access_timeMarch 5

Kathmandu–nformal talks between the government and the Gas Dealers Association Nepal is advancing towards a consensus, said a talks team member.  The dialogue initiatives were pushed following a protest by gas entrepreneurs putting fort...

Trump to delay China tariff hike after trade talks 'progress' access_timeFebruary 25

WASHINGTON– US President Donald Trump said Sunday he would delay a planned tariff increase on Chinese exports after both sides hailed "substantial progress" in trade talks, raising the prospect of a summit with President Xi Jinping to s...