US, China face deep trade, IP differences in high-level talks

WASHINGTON: The United States and China launch a critical round of trade talks on Wednesday amid deep differences over Washington’s demands for structural economic reforms from Beijing that will make it difficult to reach a deal before a March 2 US tariff hike. The two sides will meet next door to the White House in […]

Former Nissan boss Ghosn has a conspiracy theory

Tokyo. Fallen auto titan Carlos Ghosn said his arrest for alleged financial crimes was the result of a “plot” against him by Nissan Motor Co. executives trying to prevent the Japanese carmaker’s deeper integration with Renault SA. There was a plan to combine Nissan with Renault and third partner Mitsubishi Motors Corp, Ghosn told Japan’s […]

Is UAE’s Souq set to finally be replaced by Amazon?

Dubai: Will Souq.com soon disappear, leaving in its place Amazon.ae? Nearly two years after the US online retail giant purchased Souq for $580 million, a source-led report from CNBC on Tuesday suggested that may be exactly what is about to happen. According to the article, Amazon has recently been contacting large North American wholesalers to […]

UAE accuses Qatar of banning its products, files WTO complaint

The United Arab Emirates has filed a complaint against Qatar at the World Trade Organization saying Doha has imposed a ban on Emirati products, UAE state news agency WAM said on Tuesday. The UAE, Saudi Arabia, Bahrain and Egypt have imposed a diplomatic, trade and transport boycott of Qatar since June 2017 over allegations Doha […]

China maintained a current account surplus in 2018: regulator

BEIJING. China retained a current account surplus in 2018 and it will remain basically balanced in future, the foreign exchange regulator said on Wednesday. China’s current account is slowly swinging from a decades’ long surplus towards a deficit. Analysts say that will mark a major structural shift in global capital flows in and out of […]

Fed leaves US interest rates unchanged

Washington: The Federal Reserve held interest rates steady on Wednesday but said it would be patient in lifting borrowing costs further this year as it pointed to rising uncertainty about the US economic outlook. While the Fed said continued US economic and job growth were still “the most likely outcomes,” it removed language from its […]