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Economy Premium

US, China prepare for trade battle

As midnight deadline looms, some say trade fight could stretch into next year

Economy

Merkel, Xi agree to work on steel overcapacity within G20

BERLIN: German Chancellor Angela Merkel and Chinese President Xi Jinping discussed overcapacity in world steel markets and agreed on Saturday to work on solutions within the framework of the G20 group of industrialised nations, Merkel's spokesman said.

Business

The art of the steel tariffs

PRESIDENT Trump is beginning to unveil the details of his tariffs on steel and aluminum, but they’re hard to hear above the noise. Democrats loudly rejoice in Trump’s folly, hoping the tariffs will erase the benefits of tax reform.

Business

Made in China swamps Modi’s plans as backlash escalates

IN Mohit Gogia’s stationery and gift store in Noida, near India’s capital, the only decorative lights for sale ahead of last month’s festival of lights were Chinese made.“India-made lights cost twice as much,” said Gogia, as shoppers snapped up supplies for the Diwali celebration. “Customers aren’t willing to pay that.”

Economy

Incoming New Zealand govt to review central bank objectives

WELLINGTON: New Zealand prime minister-designate Jacinda Ardern said on Tuesday her new Labour-led government plans to review and reform the Central Bank Act to possibly include employment, alongside inflation, as a dual target.

Banking

ABM appoints new executive director

PETALING JAYA: The Association of Banks in Malaysia (ABM) has appointed Kalpana Sambasivamurthy its executive director effective Sept 18.

Banking

China builds global role, one infrastructure loan at a time

THE China-led Asian Infrastructure Investment Bank (AIIB) is a mere start-up among development lenders – but already has a global footprint.

Corporate News

Asian stocks tumble most in 2 weeks after China tightens policy

HONG KONG: Chinese stocks slumped on Friday, sending Asian markets down for their biggest losses in two weeks after Beijing unexpectedly raised short-term interest rates, adding to growing concerns about U.S. President's Donald Trump's aggressive policies.

Corporate News

Australia courts US, Canada after rejecting Chinese bids for Ausgrid

SYDNEY: North American bidders will not need an Australian partner to bid for Australian electricity distributor Ausgrid, an adviser on the potentially A$10 billion (US$7.46 billion) deal said, after the government rejected sole offers from Chinese interests.

Economy

EU faces big changes, with or without Britain

The atmosphere in Brussels has been surreal for weeks - business goes on as usual, officials are barred from using the word “Brexit” and life proceeds as if Britain’s EU referendum does not exist. But this phoney calm belies the fact that, whether Britons vote to leave or remain on Thursday, the European Union will have to make some of the biggest changes in its history in order to survive.