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  • Wednesday 21st October 2020

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    • Canadian’s death sentence in China ‘horrific’, family says Canadian's-death-sentence-in-China-'horrific',-family-says

      The family of a Canadian man who has been sentenced to death in China say their “worst fears” have been realised. Robert Lloyd Schellenberg was given a 15-year jail term in November but, on Monday, a court said the sentence for drug smuggling was too lenient. The ruling is likely to worsen a diplomatic row between the countries. “It is a horrific, unfortunate, heartbreaking situation,” his aunt, Lauri Nelson-Jones, told the BBC via email. “It is our worst case fear confirmed,” she added. “It is rather unimaginable what he must be feeling and thinking.” Canadian Prime Minister Justin Trudeau...

    • What’s next for OPEC after Qatar withdraws What's-next-for-OPEC-after-Qatar-withdraws

      Qatar has officially left the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday, ending its 58 years of membership.  The decision to withdraw was announced on December 3 by Qatar’s energy minister Saad al-Kaabi, under the circumstances of Qatar being boycotted by former neighboring allies including Saudi Arabia for 18 months. Kaabi said the decision to withdraw was not “political”. With an oil production of approximately 600,000 barrels per day (bpd), Qatar accounts for only two percent of global oil reserves.  Kaabi said the country will “focus efforts” on gas production. With 858 trillion cubic feet of proved...

    • China, U.S. may meet in January for trade negotiation China-U.S-may-meet-in-January-for-trade-negotiation

      The delegations of China and the U.S. have stayed in close communication and have made plans to meet face-to-face in January, the spokesman of China’s Ministry of Commerce Gao Feng said on Thursday.  The remarks came after media reports stated that a U.S. trade team will travel to Beijing on January 7 for trade talks with China.  Gao confirmed the potential meeting without giving a specified date, saying the two sides are keeping close communication via telephone as well.  The upcoming meeting will be the first face-to-face negotiation since Chinese President Xi Jinping and his U.S. counterpart Donald Trump...

    • China continues to widen market access for foreign investors China-continues-to-widen-market-access-for-foreign-investors

      China will continue to widen market access for foreign investors next year, a commerce ministry official said on Saturday. The negative list for foreign investment is expected to be further shortened in 2019, said Tang Wenhong, head of foreign investment management department under the Ministry of Commerce (MOFCOM), during the MOFCOM work conference. The ministry will also push for the lifting of market access restrictions on foreign investment in sectors not on the negative list so as to level the playing field for Chinese companies and foreign enterprises alike, Tang added. China has adopted a foreign investment administration model...

    • High-speed railway starts operations in China’s coldest region High-speed-railway-starts-operations-in-China's-coldest-region

      A high-speed railway line officially went into operation on Tuesday, linking cities in China’s northernmost province of Heilongjiang, where the temperatures dip as low as minus 40 degrees Celsius. The 300-km line designed to allow trains running at 250 km per hour cuts the travel time between the provincial capital of Harbin and Mudanjiang, known as “snow city,” from four hours and 17 minutes to one hour and 28 minutes, according to the China Railway Harbin Group.  The line is China’s northernmost high-speed railway. Construction of the railway started in December 2014, as one of the key projects in...

    • World Bank projects China’s economy to grow 6.5 pct in 2018 World-Bank-projects -China's-economy -to-grow-6.5-pct-in-2018

      The World Bank on Thursday projected China’s economy to grow 6.5 percent in 2018, adding that the country’s economy “continues to perform well.” “Consumption will remain the main driver of growth, while higher investor uncertainty and slower credit growth are expected to weigh on investment,” said John Litwack, World Bank lead economist for China. He noted a deceleration in global demand growth and higher U.S. import tariffs would negatively affect net exports. Authorities have the policy space necessary to support the economy in the current environment of high uncertainty. The China Economic Update, the World Bank’s regular assessment of...

    • Inflation eases as petrol prices fall Inflation-eases-as-petrol-prices-fall

      The UK inflation rate fell slightly to 2.3% in November, from 2.4% the previous month, driven mainly by a big fall in petrol prices. The Consumer Prices Index (CPI) figure for the month was the lowest since March 2017, according to the Office for National Statistics (ONS). Video games prices also fell, but those declines were partly offset by a rise in tobacco prices. The inflation figure was in line with analysts’ expectations.   ONS head of inflation Mike Hardie said: “Inflation was little changed as falling petrol prices, thanks to a substantial drop in the cost of crude...

    • BA to resume flights to Pakistan BA-to-resume-flights-to-Pakistan

      British Airways is to restart flights to Pakistan next year, more than 10 years after it halted services following a major hotel bombing. The airline stopped flying to the country after the Marriott hotel in the capital, Islamabad, was bombed in 2008, killing more than 50 people. BA will be the first Western airline to resume services to the country. A new airport was opened recently in Islamabad, which has eased concerns about both security and congestion. The attack on the Marriott was one of the most high-profile attacks in Pakistan’s history. Thomas Drew, the British High Commissioner to Pakistan,...

    • A review of China-U.S. trade war in 2018 A-review-of-China-U.S.-trade-war-in-2018

      There is no doubt that the China-U.S. trade war was one of the biggest stories of 2018. The tit-for-tat tariffs levied between the world’s two largest economies have put the global supply chain and trading system into uncertainty.  Like most of the candidates during the 2016 U.S. presidential election, Donald Trump blamed China, a growing economic power, for the problems of the domestic U.S. economy – a vote-winning tactic that is significantly easier than calling for domestic policy reform. However, this billionaire president is not only talking, he’s putting his anti-China rhetoric into practice.  Trump regards global trade as...

    • Boeing opens China’s first 737 plant Boeing-opens-China's-first-737-plant

      Boeing Co opened its first 737 completion plant in China on Saturday, a strategic investment aimed at building a sales lead over arch-rival Airbus in one of the world’s top travel markets. The world’s largest planemaker was also poised to deliver the first of its top-selling 737s completed at the facility in Zhoushan, about 290 km (180 miles) southeast of Shanghai, to state carrier Air China during a ceremony on Saturday with top executives from both companies. Boeing and Airbus have been expanding their footprint in China as they vie for orders in the fast-growing aviation market, which is...