BEIJIN: China Unicom has said there were no “justifiable grounds” for a US order that banned the company from operating in the country on national security concerns. The decision by the US Federal Communications Commission (FCC) on Thursday was the latest broadside in a standoff that has seen Beijing and Washington clash over trade, technology, … Read more
WASHINGTON: IMF Managing Director Kristalina Georgieva on Thursday said there was no alternative to a pending agreement with the Washington-based crisis lender to get Argentina out of its spiral of inflation and poverty. “Our main focus is to get Argentina out of this very dangerous path of high inflation,” she told reporters. Last week, Argentina … Read more
WASHINGTON: The IMF called on El Salvador to change course and stop using Bitcoin as legal tender, citing “large risks” posed by the cryptocurrency. The small Central American nation in September became the first country in the world to embrace the digital money, allowing consumers to use it in all transactions, alongside the US dollar. … Read more
WASHINGTON: An official US digital currency could offer potential benefits to American consumers and businesses, but it is not clear they would outweigh the potential risks, the Federal Reserve said. In a long-awaited report on central bank digital currencies (CBDC), the Fed stressed that it is not taking a position nor does the paper signal … Read more
WASHINGTON: The world is changing. From Covid-19 and climate change to digitalisation and diverging demographics, the IMF’s member countries are confronting new challenges. The impacts of these challenges are being felt unevenly across countries and will inevitably play out in their balance of payments, potentially undermining global economic stability. It is therefore important that the … Read more
SEOUL – North Korea hinted Thursday it could resume nuclear and long-range weapons tests as it prepares for “confrontation” with Washington, its latest threat after a string of sanctions-busting missile launches. Pyongyang has not tested inter-continental ballistic missiles or nukes since 2017, putting launches on hold as leader Kim Jong Un embarked on a blitz … Read more
WASHINGTON – The United States called on North Korea Monday to “cease its unlawful and destabilizing activities,” after Pyongyang fired two suspected ballistic missiles in its fourth weapons test this month, a State Department spokesman said. In a call with South Korean and Japanese officials, the US special representative on North Korea, Sung Kim “expressed … Read more
WASHINGTON: The World Bank has approved $90 million in additional financing for Iran, to help fight against the Covid-19 pandemic, a spokesperson said Friday. The Washington-based development lender’s board of directors approved the aid on December 21, a World Bank spokesperson said, which “will be utilised only for procuring additional lifesaving, essential medical equipment to … Read more
MEXICO CITY: Mexico on Thursday requested a dispute settlement panel under a revamped North American trade deal to resolve a difference of interpretation with the United States in the auto sector, the government said. The Latin American nation aims to establish that Washington’s interpretation of content requirements known as rules of origin are incorrect, the economy … Read more
KABUL: For 50-year-old Hajji Mohammad, the outgoing year was a good one, with peace returning to war-torn Afghanistan. However, he found it hard to support his family, despite traveling from the eastern Wardak province to the capital Kabul to earn his living. “I have no funds to support my family and even I am not … Read more
WASHINGTON, Dec 30, 2021 (AFP) – Joe Biden promised to “follow the science” when he took over from Donald Trump, but a year later record infections, testing shortfalls and stubborn vaccine resistance have turned one of his presidency’s political strongpoints into a growing liability. Data on Wednesday showing the highest number yet of new Covid infections … Read more
WASHINGTON: The International Monetary Fund said Thursday it will extend its flexible access to emergency funding for an additional 18 months to help nations severely impacted by the Covid-19 pandemic. The IMF’s executive board agreed on Monday to “temporary increases to the cumulative access limits under its emergency financing instruments” through June 2023, the Washington-based crisis … Read more
WASHINGTON: Amid ongoing talks on a new aid programme, the IMF is examining data from Lebanon’s government on the scope of financial sector losses, estimated at about $69 billion, a fund spokesman said on Thursday. “I’d say there’s been considerable progress in identifying financial sector losses,” IMF spokesman Gerry Rice told reporters in reference to the … Read more
WASHINGTON, Dec 17, 2021 (AFP) – A US government-appointed panel of medical experts on Thursday unanimously recommended mRNA Covid vaccines made by Pfizer and Moderna over Johnson & Johnson’s shot, in light of its weaker protection and greater risks. The panel voted 15-0 in favor of the new guidance, which applies to everyone over 18 years … Read more
DUBAI: The United Arab Emirates (UAE) has suspended talks on a $23 billion deal to purchase American-made F-35 planes, armed drones and other equipment, in a rare dispute between Washington and a key US ally in the Arabian Gulf, AP reported. The Emirati Embassy in Washington said it would “suspend discussions” with the US, though meetings at … Read more
SHANGHAI, Dec 14, 2021 (AFP) – State-owned China Mobile has received approval to list publicly in Shanghai, documents showed, nearly a year after it was delisted in the United States along with two other Chinese telecom giants as tensions between Beijing and Washington soared. China Mobile plans to issue up to 845.7 million shares, according to … Read more
LOS ANGELES: The NFL reported 37 positive Covid-19 tests across the league on Monday, ESPN reported, the largest single-day number of positive cases since the pandemic began. Los Angeles Rams cornerback Jalen Ramsey and tight end Tyler Higbee were among dozens of players who returned positive test results, ruling them out of Monday’s crucial game against the … Read more
HONG KONG: Chinese artificial intelligence start-up SenseTime said Monday it was postponing a planned $767 million initial public offering in Hong Kong after it was blacklisted by the US over human rights concerns in Xinjiang. The US Treasury announced the ban on Friday, saying SenseTime’s facial recognition programmes were designed in part to be used against … Read more
HONG KONG: Chinese artificial intelligence start-up SenseTime said Monday it was postponing a planned $767 million initial public offering in Hong Kong after it was blacklisted by the US over human rights concerns in Xinjiang. The US Treasury announced the ban on Friday, saying SenseTime’s facial recognition programmes were designed in part to be used … Read more
BEIJING: China warned on Tuesday the United States would “pay the price” for a diplomatic boycott of the Beijing Winter Olympics over human rights concerns. The US move — which stopped short of preventing athletes from attending — comes after Washington spent months wrangling over what position to take on the Games beginning in February next … Read more
WASHINGTON: Lowering tariffs imposed by the former Trump administration on Chinese goods could help ease some inflationary pressures, US Treasury Secretary Janet Yellen has said. Yellen made the remarks on Thursday at Reuters Next, a virtual global conference held from Wednesday to Friday, during which she said the tariffs of up to 25 per cent on … Read more
LONDON: Opec+ oil producers meet on Thursday under pressure from US President Joe Biden, who has opened up his country’s taps hoping to bring down crude prices, and a new Covid-19 variant that has complicated the equation. The meeting “is shaping up to be one of the most significant since the pandemic demand recovery began, … Read more
BEIJING: By coercing foreign chipmakers to surrender their crucial business data, Washington has once again shown the world that the “America first” doctrine is still at the core of the country’s decision-making, and that Washington is willing to do anything to rule the world supreme. In September, the United States sent a seemingly voluntary request … Read more
WASHINGTON, An anti-Covid pill developed by Merck has proved effective in treating the disease, the US Food and Drug Administration said Friday in a much-awaited preliminary report. But the report, from an FDA advisory panel, cautioned that pregnant women should not use the drug, known as molnupiravir, saying the potential benefits do not outweigh the … Read more
WASHINGTON: A key US inflation measure closely watched by the Federal Reserve in October posted its biggest year-over-year increase since the early 1990s amid supply chain bottlenecks, the US Commerce Department reported on Wednesday. The personal consumption expenditure (PCE) price index, the Fed’s preferred inflation measure, jumped five per cent in October from a year … Read more
WASHINGTON, Sixty years after her father’s historic flight, she too will cross the final frontier: Laura Shepard Churchley, daughter of the first American in space Alan Shepard, will be one of six passengers on Blue Origin’s next flight. Jeff Bezos’ space company announced Tuesday its third crewed flight will launch on December 9, from Blue’s … Read more
WASHINGTON, A NASA mission to deliberately smash a spacecraft into an asteroid — a test run should humanity ever need to stop a giant space rock from wiping out life on Earth — blasted off Tuesday from California. It may sound like science fiction, but the DART (Double Asteroid Redirection Test) is a real proof-of-concept … Read more
SAN SALVADOR: The International Monetary Fund (IMF) on Monday warned El Salvador against using Bitcoin as an official tender given the risks associated with the cryptocurrency, a day after the country announced plans for the world’s first “Bitcoin City”. El Salvador, which has used the US dollar for two decades, became the first country in the … Read more
