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Tag: China

China temporarily spares U.S. oil imports from tariffs

China temporarily spares U.S. oil imports from tariffs

Business
Sept. 19 (UPI) -- U.S. crude oil exports have been temporarily spared from Chinese tariffs, giving state-run oil refineries a short window to import as much as possible. They're scrambling for U.S. imports because WTI, the U.S. benchmark, is selling at a $ 6.66 per barrel discount to Dubai crude oil. That's the biggest price difference of the year. China announced 10 percent tariffs on $ 60 billion in U.S. imports Tuesday in retaliation for President Donald Trump's latest volley of tariffs that were announced Monday. It's not clear when China's tariffs on crude oil will go into effect. "Oil on the tariffs list will only impact trade flows but not overall demand and as such could weaken U.S. grades regionally and in the worse case WTI prices but the global benchmark Brent should not be af...
2018 world's strongest storm: Mangkhut barrels through Philippines toward China

2018 world's strongest storm: Mangkhut barrels through Philippines toward China

World
The strongest storm on Earth in 2018 barreled through the northern Philippines before dawn on Saturday, bringing with it ferocious winds and torrential rain. Typhoon Mangkhut, known locally as Ompong, made landfall in Cagayan province on northeast Luzon island at 1:40 a.m. local time, according to the country's weather agency, the Philippine Atmospheric, Geophysical and Astronomical Services Administration. It's estimated that the tropical cyclone put at least five million people at risk. Mangkhut, considered the strongest storm on the planet so far this year, was the 15th to hit the Philippines. The Joint Typhoon Warning Center U.S. Navy-U.S. Air Force command, located in Hawaii, had downgraded Mangkhut from a "super typhoon," when it had peak wind speeds of 180 mph, prior to landfall ...
Russia joined by China for biggest 'war games' since Soviet era

Russia joined by China for biggest 'war games' since Soviet era

World
Agne Gaidyte, news reporterRussia has started its biggest "war games" since the end of the Soviet Union, which are said to involve almost 300,000 troops, more than 1,000 aircraft, 36,000 tanks and military vehicles, and dozens of warships.The huge week-long exercise, called Vostok 2018, is being held in eastern Siberia near the border with China, and also includes the Chinese army.Beijing is sending about 3,200 troops, 900 combat vehicles and 30 aircraft to join the drills at a firing range.It is being seen as a significant deployment that reflects its shift towards a full-fledged military alliance with Russia. Mongolia also has sent a military contingent.NATO has criticised the drills as a rehearsal for a "large-scale military conflict".The show of military power includes Russia's Iskande...
Apple 'pulls gambling apps from China App Store'

Apple 'pulls gambling apps from China App Store'

Technology
Apple has removed thousands of gambling apps from its China app store, according to reports.The tech giant would not confirm reports suggesting it had pulled 25,000 apps, but in a statement the firm said "gambling apps are illegal and not allowed on the App Store in China".The cull follows criticism from state broadcaster CCTV for not doing enough to filter out banned material.Apple currently offers more than 1.8 million apps in China.The removal of the gambling apps has been widely reported, but originated from CCTV which claimed that Apple had carried out a "large-scale removal of illegal apps that sold fake lottery tickets and offered gambling services".In its statement, Apple said: "We have already removed many apps and developers for trying to distri...
Now with power to long rule China, Xi beset by challenges

Now with power to long rule China, Xi beset by challenges

World
As China's leaders gather for their annual Yellow Sea retreat, the country's political waters are looking choppy. Chinese President and ruling Communist Party leader Xi Jinping is beset by economic, foreign policy and domestic political challenges just months after clearing his way to rule for as long as he wants as China's most dominant leader since Mao Zedong. Mounting criticism of the Xi administration's policies has exposed the risks he faces from amassing so much power: He's made himself a natural target for blame. "Having concentrated power, Xi is responsible for all policy setbacks and policy failures," said Joseph Cheng, a retired City University of Hong Kong professor and long-time observer of Chinese politics. Notably, Xi used to dominate state-run newspapers' front pages and t...