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Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing.1. China hits back at Trump with reciprocal tariffs, sanctions of US firmsChina has revealed the details of its response to new tariffs from the United States on its exports, adding a group of US firms to its export control list, slapping additional tariffs of 10-15 per cent on selected American goods and announcing plans to bring a case to the World Trade Organization over the matter.2. China to be ‘main beneficiary’ of Trump foreign policy,…
US President Donald Trump’s latest accusation of China’s trade advantage via yuan depreciation suggests his sights are set on reducing the US trade deficit, according to analysts who also noted that a priority of China’s central bank is stabilising the currency against the backdrop of a strong dollar and mounting tariff risks.They contended that Trump’s warning on Monday – that China and Japan “can’t continue to reduce” their currencies because it is “unfair” to the US – clashes with Beijing’s actual efforts to prevent a sharp yuan depreciation. Japan also refuted Trump’s allegation.“Trump’s trade and currency policies are contradictory,” said…
US President Donald Trump’s latest accusation of China’s trade advantage via yuan depreciation suggests his sights are set on reducing the US trade deficit, according to analysts who also noted that a priority of China’s central bank is stabilising the currency against the backdrop of a strong dollar and mounting tariff risks.They contended that Trump’s warning on Monday – that China and Japan “can’t continue to reduce” their currencies because it is “unfair” to the US – clashes with Beijing’s actual efforts to prevent a sharp yuan depreciation. Japan also refuted Trump’s allegation.“Trump’s trade and currency policies are contradictory,” said…
Forum seeks to create a comprehensive ecosystem that supports education and career development in hospitalityThe Future Hospitality Summit (FHS) Saudi Arabia will host this year the region’s first NextGen Investment Forum to address the challenges and opportunities surrounding education, training and talent retention in the Kingdom’s growing hospitality sectors.The event will take place on the first day of FHS Saudi Arabia, May 11, with more than 30 speakers set to take part. Through a series of curated roundtable discussions, the forum will bring together key industry stakeholders to address the most pressing challenges in hospitality education and retention with a…
This initiative integrates UAE firms like EPI and Strata into the global supply chain effectively Airbus is anticipating the manufacturing of components for a substantial fleet of A400M aircraft in the UAE, as stated by Gabriel Semelas, President Africa and Middle East at Airbus. This initiative will play a crucial role in integrating UAE-based firms, including EPI and Strata, into the international supply chain, he informed WAM.Airbus is crafting plans to set up maintenance and overhaul facilities for the A400M aircraft, which serves as a multi-role military transport aircraft. Additionally, a training center is part of these plans, which will…
An announcement by Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, to invest an additional US$100 billion in the United States – and avoid harmful tariffs – could inspire other Asian giants to follow the leads of TSMC and South Korean giants by making moves that could isolate mainland China, analysts said on Tuesday.US President Donald Trump on Monday announced the TSMC investment in three new chip-fabrication plants, two packaging facilities, and a research and development centre, potentially adding 20,000 to 25,000 jobs in the US state of Arizona.The president, who advocates more onshoring of industry to stimulate…
The stations will use AC power at 22 kilowatts each, placed strategically in Parkin’s locations Parkin Company PJSC (Parkin), Dubai’s provider of paid public parking facilities and services, has announced a significant update regarding its electric vehicle (EV) charging partnership with Dubai Electricity and Water Authority (DEWA). In alignment with the first phase of this sustainability initiative, DEWA is set to install new charging stations in the first quarter of 2025. These stations will function on alternating current (AC) with a capacity of 22 kilowatts x 2 and will be strategically located across key parking sites managed by Parkin. Each…
China Eastern Airlines has revealed the initiation of direct flights connecting Shanghai and Abu Dhabi, set to begin on April 28, 2025. This development signifies the first occasion a Chinese airline has established a direct route between these two prominent cities.According to China Daily, the Shanghai-Abu Dhabi route will be collaboratively operated by China Eastern Airlines and Etihad Airways, headquartered in Abu Dhabi.Flights are planned to operate every Monday, Wednesday, Thursday, and Saturday. Departures will take place from Shanghai Pudong International Airport, with return flights from Abu Dhabi scheduled on the same day (local time).Read more: Abu Dhabi seeks to…
As rapidly evolving artificial intelligence (AI) technologies reshape the workforce and increasingly displace menial jobs, China should establish dedicated insurance to protect those at risk of unemployment due to AI, an entrepreneur suggested in the lead-up to Beijing’s agenda-setting parliamentary meetings.“China should pilot a special AI-unemployment insurance programme, adopting a government-led, commercially operated model,” said Liu Qingfeng, a National People’s Congress representative and founder and chairman of iFlytek, a voice-recognition software supplier with AI capabilities.Following the surprising success of DeepSeek, the Chinese start-up that has released groundbreaking open-source AI models, the sector’s development has sent shock waves through the job…
Bitcoin fell on Monday for the first time in three days after marking the best daily profit in 2025 on Sunday following US President Donald Trump’s statements on the strategic crypto reserve. Major companies continue to expand their holdings of the cryptocurrency, which boosts its institutional value and long-term confidence. The Price Bitcoin fell 3.3% at Bitstamp today to $91,135, with a session-high at $94,422. On Sunday, bitcoin spiked 9.6%, the largest daily profit since November 2024, away from three-month lows after Trump’s supportive remarks. Crypto Market Value The market value of cryptocurrencies fell…