Global News

[ad_1] Beijing believed to be aiming to rival US’s global maritime power and defeat western sanctions, report concludes. China’s military may be planning to build a host of overseas naval bases, as it hopes to protect shipping routes and strengthen its ability to resist sanctions from the US and its allies, analysis has found. Hambantota in Sri Lanka, Bata in Equatorial Guinea and Gwadar in Pakistan are the three most likely locations for a Chinese naval base to be established in the next two to five years, according to an analysis by AidData, a US-based research institute, published on Wednesday. The report’s authors considered the amount of development financing issued by Chinese state-owned banks to port projects, the strategic value of existing infrastructure and strong relationships with host country governments, among other factors, to come up with a list of eight leading options for future Chinese naval bases. China’s People’s Liberation Army Navy (PLAN) currently on...

[ad_1] China has issued a red alert for heat – the highest in its colour-coded alert system – for northern parts of the country after Beijing recorded its hottest-ever June day. According to international media reports, some 185 red alerts were issued for northern and eastern China, including Beijing, the nearby city of Tianjin and the provinces of Hebei and Shandong. It is the first time since 2014 that the red alert has been used in Beijing, home to nearly 22 million people, according to government weather services. The temperature in the capital was hovering at about 40 degrees Celsius (104 degrees Fahrenheit), after reaching a June record of 41.1C (106F) on Thursday. The previous June high dated from June 10, 1961, when the temperature hit 40.6C (105F). Beijing residents are accustomed to sweltering summers but temperatures across China have been unusually high in recent months, with scientists saying the heat is being exacerbated by climate change. In the coastal pro...

[ad_1] BEIJING: A swathe of northern China, including the capital Beijing , was put under alert Saturday as Typhoon Doksuri swept inland, bringing high winds and torrential rain. Doksuri, which smashed into Fujian province on Friday morning with gusts of up to 175 kilometres per hour (110 miles per hour), is already being felt further north, according to China's meteorological services. Anticipating flooding, Beijing has issued an orange alert, the second-highest in the four-tier system. Several of the city's parks, lakes and riverside roads have been closed out of precaution, the municipal authorities announced on Saturday. They warned the downpour could prompt even worse flooding than in July 2012, when 79 people died and tens of thousands were evacuated. Heavy showers were reported in the capital on Saturday afternoon and are expected to last through Tuesday. Neighbouring Hebei province, which is expecting torrential rain and gusty wind, has issued the highest lev...

[ad_1] US Secretary of State Antony Blinken arrived in Beijing on Sunday — the first top American diplomat to visit China in five years — amid frosty bilateral ties and dim prospects for any breakthrough on the long list of disputes between the world’s two largest economies. Having postponed a February trip after a suspected Chinese spy balloon flew over US airspace, Blinken is the highest-ranking US government official to visit China since President Joe Biden took office in January 2021. During his stay through Monday, he is expected to meet with Foreign Minister Qin Gang, China’s top diplomat Wang Yi and possibly President Xi Jinping, seeking to establish open and durable communication channels to ensure the strategic rivalry between the two countries does not spiral into conflict. There is an expectation Blinken’s visit will pave the way for more bilateral meetings in the coming months, including possible trips by Treasury Secretary Janet Yellen and Commerce Secretary Gin...

[ad_1] Hong Kong CNN  —  Ride-hailing giant Didi received approval to resume new user registration in China, it said Monday, providing more evidence that Beijing’s regulatory crackdown on tech giants might be coming to an end. The move is the latest sign that regulators are loosening the reins on the country’s beleaguered tech companies in a bid to spur economic growth. “For more than a year, our company has cooperated with the government’s cybersecurity review, seriously dealt with the security issues found in the review, and carried out a comprehensive rectification,” Didi said in a statement posted on its Weibo account. With the approval of the Cybersecurity Review Office, Didi will be able to resume adding new users “immediately,” it added. Didi is a poster child for Beijing’s years-long crackdown on its tech companies. Just days after its $4.4 billion IPO ...

[ad_1] Beijing — U.S. Treasury Secretary Janet Yellen, in Beijing for meetings with top Chinese officials and American companies that do business in the country, said the U.S. welcomes healthy economic competition with  China , but only if it's fair. Yellen also said she was concerned about new export controls announced by China on two critical minerals used in technologies like semiconductors. "We are still evaluating the impact of these actions," she said, "but they remind us of the importance of diversified supply chains." Her message to company representatives, including from corporate giants such as Boeing and Bank of America that have significant operations in China, was that the U.S. government understands it's not been an easy time. "I've been particularly troubled by punitive actions that have been taken against U.S. firms," the Treasury chief said, referring to  raids carried out in ...

[ad_1] Last Updated: July 05, 2023, 02:13 IST New York, United States of America (USA) Previous flare-ups also benefited the U.S. dollar, reducing demand for gold. Spot gold rose 0.4% to $1,928.09 per ounce by 09:31 a.m. EDT (1331 GMT), with trading volumes likely thinned by a U.S. holiday Gold prices edged higher on Tuesday as some traders bet that recent weak U.S. economic data may prompt the Federal Reserve to rethink its rate-hike trajectory, while also awaiting further cues from the minutes of the central bank’s last meeting. Spot gold rose 0.4% to $1,928.09 per ounce by 09:31 a.m. EDT (1331 GMT), with trading volumes likely thinned by a U.S. holiday. U.S. gold futures gained 0.3% to $1,935.90. “Weaker-than-expected U.S. economic data released on Monday, including PMIs, have supported gold. Market participants will closely track upcoming U.S. job market data, watching if previous U.S. interest rate hikes will slow down the U.S. economy," UBS analyst Giovanni Staunovo s...