DIRS.INFO The most relevant business & tech news

☆ China imposes further sanctions on Taiwan's US representative
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +2 min

BEIJING/TAIPEI, April 7 (Reuters) - China has imposed further sanctions on Hsiao Bi-khim, Taiwan's de facto ambassador to the United States, prohibiting her and family members from entering the mainland, Hong Kong and Macau, state media reported on Friday. The sanctions, announced by China's Taiwan Affairs Office, also prohibit investors and firms related to Hsiao from cooperating with mainland organisations and individuals. They come after Taiwanese President Tsai Ing-wen's meeting with U.S. House Speaker Kevin McCarthy during a stopover in the United States this week. Others on the August sanctions list also include Taiwan foreign minister Joseph Wu and Secretary-General of Taiwan's National Security Council Wellington Koo, and DPP politicians. Chinese sanctions will have little practical impact as senior Taiwanese officials do not visit China while Chinese courts do not have jurisdiction in Taiwan.

☆ China imposes further sanctions on Taiwan's U.S. representative
▼ + stars: | 2023-04-07 | by ( ) www.cnbc.com time to read: +2 min

China has imposed further sanctions on Hsiao Bi-khim, Taiwan's de facto ambassador to the United States, prohibiting her and family members from entering the mainland, Hong Kong and Macao, state media reported on Friday. The sanctions, announced by China's Taiwan Affairs Office, also prohibit investors and firms related to Hsiao from cooperating with mainland organizations and individuals. They come after Taiwanese President Tsai Ing-wen's meeting with U.S. House Speaker Kevin McCarthy during a stopover in the United States this week. Others on the August sanctions list also include Taiwan foreign minister Joseph Wu and Secretary-General of Taiwan's National Security Council Wellington Koo, and DPP politicians. Chinese sanctions will have little practical impact as senior Taiwanese officials do not visit China while Chinese courts do not have jurisdiction in Taiwan.

☆ A judge warned Trump about comments that could 'jeopardize the safety or well-being' of others. 6 hours later, he attacked the judge, the judge's wife, and the judge's daughter.
▼ + stars: | 2023-04-05 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Donald Trump started attacking the family of the judge presiding over his indictment in New York. Trump called Judge Juan Merchan and his family "Trump-hating" on Tuesday evening. Hours before, the judge warned him not to make remarks that could jeopardize the safety of others. Trump's comments blasting Merchan came six hours after Merchan warned the former president not to make comments likely to "jeopardize the safety or well-being of any individuals." That didn't stop Trump from slamming Merchan and his family hours later.

Vahia is one among India’s young and aspirational 1.4 billion population, whose propensity for online spending has attracted global companies and digital platforms. And as private consumption underpins economic growth in India, financial investors are targetting new ways to tap into it. India's per capita consumption of food was at $314 in 2020 compared to $884 for China, while that of clothing stood at $53.9 versus $212.9 for China, data from CLSA showed. FOREIGN INVESTORS JUMP INWith private consumption accounting for 60% of India's $3.5 trillion GDP, foreign portfolio investors have been quick to latch on. To be sure, it has not been all smooth sailing for investors as they chased India's consumption boom.

☆ Big Oil Eyes New Deals in North Africa Amid Rising Energy Demand
▼ + stars: | 2023-03-23 | by ( Chao Deng | Benoit Faucon | ) www.wsj.com time to read: 1 min

North Africa’s massive oil-and-gas reserves and its proximity to Europe make it an attractive alternative energy supplier to Russia. CAIRO—After years of underinvestment in North Africa’s energy infrastructure, global oil-and-gas giants from Halliburton Co. and Chevron Corp. to Eni SpA are ramping up their presence in the region as demand from Europe grows. Executives in the industry are betting it is worth drilling again in some of the hardest places to do business in the world as Europe increasingly turns to other sources for its energy needs after shunning its main supplier, Russia, over the invasion of Ukraine. In recent months, a string of European officials have visited the region to help advance talks over potential supply deals.

☆ Biden used first veto to save a 401(k) investment rule. Here's what it does
▼ + stars: | 2023-03-21 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

watch nowFew 401(k) plans — about 5% — offer an ESG fund, according to PSCA survey data. The [Biden] rule doesn't force you to consider ESG. Under the Biden rule, employers must still consider ESG factors within the context of what is in investors' best interests. "The [Biden] rule doesn't force you to consider ESG," Chao said. The Biden administration issued the final text of its investment rule in November, shortly before Republicans assumed control of the House.

☆ One country, two crypto systems: Hong Kong harbors crypto hub ambitions despite China's crackdown
▼ + stars: | 2023-03-20 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

Sopa Images | Lightrocket | Getty ImagesThe crypto industry has had a rough year with digital currency markets crashing and companies collapsing across the board. Hong Kong is planning to introduce new rules in June that will require crypto trading platforms to be licensed by the Securities and Futures Commission. Bitcoin ATMs, operated by Coinhero, in Hong Kong, China, on Wednesday, Dec. 21, 2022. While Hong Kong harbors high crypto ambitions and boasts relatively lower tax policy on businesses, the city could still potentially find competition with other crypto hubs. The logo of Bitcoin cryptocurrency at a store in Hong Kong on Thursday, Feb. 10, 2022.

☆ Egypt’s Military Is Under Pressure to Loosen Its Grip on Economy
▼ + stars: | 2023-03-19 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

CAIRO—Outside the historic Ramses Railway Station, one of Cairo’s busiest intersections, more than a dozen food stalls and convenience stores sell a variety of goods, like croissants, peanuts, fresh fruit and meat. Behind this strip of business: the Egyptian military.

☆ IMF, World Bank Pause Loans to Tunisia Amid Crackdown on Migrants
▼ + stars: | 2023-03-09 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

Migrants at Tunis-Carthage International Airport prepare to leave Tunisia on a repatriation flight. A crackdown on political opponents and Black African migrants in Tunisia is complicating the country’s efforts to secure billions of dollars in critical loans and grants from the International Monetary Fund and World Bank. The IMF reached an agreement last October to lend $1.9 billion to Tunisian authorities but has delayed final approval as President Kais Saied has moved to consolidate power and detained political opponents. After Mr. Saied in February denounced immigration in a speech and said without providing evidence that a “criminal plot” to change Tunisia’s demographic makeup was under way, hundreds of sub-Saharan African migrants in the country were arrested and others were attacked by mobs.

☆ Tunisian President Targets Sub-Saharan African Migrants, Mob Violence Follows
▼ + stars: | 2023-03-05 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

Protests erupted in the Tunisian capital after President Kais Saied ordered security forces to expel all migrants who had entered the country illegally. Tunisian authorities have arrested hundreds of sub-Saharan African migrants after President Kais Saied denounced immigration last month and said there was a “criminal plot” to change Tunisia’s demographic makeup. Following the speech, groups of Tunisian men attacked dark-skinned migrants, assaulting some and chasing many from their homes. More than 100 migrants have fled to the United Nations’ International Organization for Migration building in Tunis, the country’s capital.

☆ After Turkey’s Earthquakes, Many Families Scrape for Survival
▼ + stars: | 2023-03-04 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

SAMANDAG, Turkey—Surrounded by neighbors struggling for basic necessities after earthquakes devastated this town in southern Turkey last month, Kadir Halilogullari quickly converted a greenhouse he owned into a makeshift shelter for as many as 40 people. Using scraps of corrugated metal, Mr. Halilogullari made a makeshift bathroom in his family’s yard for his neighbors to use. He also bought a used power generator to run electric cords into the shelter so they could charge their phones.

☆ China's defense spending increases have been 'reasonable,' parliament spokesman says
▼ + stars: | 2023-03-04 | by ( ) www.cnbc.com time to read: +1 min

China's defense spending as a share of gross domestic product has been kept basically stable for many years, with the increases "moderate" and "reasonable," the spokesman of the country's parliament said on Saturday. "The modernization of China's military will not pose a threat to any country," Wang Chao, spokesman for the National People's Congress, told reporters. Wang was asked at a news conference by how much China's defense budget would increase this year, and whether any increase would be larger than in previous years. He declined to give any figures for this year's defense budget. The spending figure will be officially unveiled in the national budget to be released on Sunday at the start of this year's annual meeting of parliament.

☆ China's defence spending increases have been 'reasonable' - parliament spokesman
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

BEIJING, March 4 (Reuters) - China's defence spending as a share of gross domestic product has been kept basically stable for many years, with the increases "moderate" and "reasonable", the spokesman of the country's parliament said on Saturday. "The modernisation of China's military will not pose a threat to any country," Wang Chao, spokesman for the National People's Congress, told reporters. Wang was asked at a news conference by how much China's defence budget would increase this year, and whether any increase would be larger than in previous years. The spending figure will be officially unveiled in the national budget to be released on Sunday at the start of this year's annual meeting of parliament. China staged war games near Taiwan in August to express anger at the visit to Taipei of then-U.S. House Speaker Nancy Pelosi.

☆ China parliament to review state entity reform plan, Legislative Law
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 4 (Reuters) - China's National People's Congress (NPC) will deliberate on a plan to reform institutions under the State Council, or cabinet, and review draft amendments to the Legislation Law, an NPC spokesman said on Saturday. He renewed calls this week for "intensive" reorganisation of state and Communist Party entities, adding that part of the reform plan pertaining to state institutions would be presented before parliament. At this year's parliamentary meeting, amendments to China's Legislative Law, which governs how laws are enacted, will also be further reviewed. One proposed amendment involves allowing the NPC Standing Committee to pass laws in the event of an "emergency" after a single review. The committee, which enacts and amends laws when parliament is not in session, voted in June 2020 to adopt landmark laws on national security in Hong Kong.

☆ Pete Buttigieg's presidential hopes make him an easy target for Republicans — and his slow response in Ohio gave them plenty of ammo
▼ + stars: | 2023-03-01 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +9 min

Transportation Secretary Pete Buttigieg hasn't ruled out running for the White House again. He's in the spotlight and the hot seat far more than most other transportation secretaries before him. The search-engine test shows Buttigieg has become a high-profile target who finds himself in the spotlight far more than most other transportation secretaries before him. However, no transportation secretary has likely entered the job with more star power. After he strode onto the stage of The Late Show last fall, host Stephen Colbert noted that not many transportation secretaries have been guests on late night talk shows.

☆ US watchdog to audit Buttigieg government jet use
▼ + stars: | 2023-02-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 27 (Reuters) - A U.S. government watchdog will audit Transportation Secretary Pete Buttigieg's use of government airplanes for some trips as part of a broad review dating back to 2017. The Transportation Department Office of Inspector General (OIG) will review 18 flights Buttigieg made on Federal Aviation Administration-operated (FAA) planes on seven total trips after a request by Republican Senator Marco Rubio. "Glad this will be reviewed independently so misleading narratives can be put to rest," Buttigieg wrote on Twitter. Elaine Chao served as Transportation secretary from 2017 through early 2021 under President Donald Trump. Rubio requested the review in December after Fox News reported on the flights and asked if any violations of Transportation Department policy were identified.

☆ Earthquakes Uproot Lives of Syrian Refugees, Again
▼ + stars: | 2023-02-26 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

NURDAĞI, Turkey—Many of the Syrians who fled civil war to make new homes in Turkey now face rebuilding their lives again after this month’s earthquakes, with some under growing pressure to return across the border or move to refugee camps as a scramble for resources in the destruction zone intensifies. Turkey opened its border to Syrians after a 2011 uprising in the neighboring country blew up into a deadly conflict. Some 3.5 million Syrian refugees now live in Turkey, about half of them in the southern Turkish provinces that were devastated by the Feb. 6 quakes. Before this month, many had found work and their own accommodation.

GAZIANTEP, Turkey—A strong earthquake and its aftershocks struck southern Turkey and Syria on Monday, causing buildings to collapse and killing at least three people, Turkish officials said, in a sign of the region’s vulnerability after it was devastated earlier this month by its worst seismic event in decades. The new 6.4 magnitude earthquake shook the southern Turkish province of Hatay just after 8 p.m. local time, according to Turkey’s disaster management agency AFAD. It was followed by several tremors, including one of magnitude 5.8, in the same region minutes later. More than 300 people were treated for injuries across Turkey and Syria, according to officials in both countries.

☆ A GOP senator says Republican lawmakers are frustrated with Transportation Secretary Pete Buttigieg because he wants 'everything to be climate and politically correct'
▼ + stars: | 2023-02-19 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Hill Republicans are increasingly voicing their issues with Transportation Secretary Pete Buttigieg. Sen. Capito told The Hill that Buttigieg had a "push" for everything "to be climate and politically correct." The Department of Transportation has defended Buttigieg's performance in handling recent crises. Secretary Buttigieg has been a vocal champion of President Biden's bipartisan infrastructure law. "Before, if you got your flight delayed, you weren't like 'oh that damn Elaine Chao,'" a Democratic operative told The Hill, referring to former President Donald Trump's transportation secretary.

☆ Tunisian Authorities Arrest Opposition Politicians Amid Social Discontent
▼ + stars: | 2023-02-16 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

Noureddine Bhiri, pictured in the foreground in light-colored frames, right, is a senior figure of the Ennahda opposition party. Tunisian authorities have detained a handful of opposition figures and businessmen whom President Kais Saied views as posing a threat to his rule, according to human-rights activists and the United Nations, which called for their release. At least nine people have been detained or arrested since the weekend, including politicians, judges and the head of the country’s main independent news outlet, according to Human Rights Watch, which is tracking the cases. Some have been accused of posing a danger to state security, according to the rights group and lawyers.

☆ Egypt Arrests Social-Media Influencers in Deepening Crackdown
▼ + stars: | 2023-02-11 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/egypt-arrests-social-media-influencers-in-deepening-crackdown-b26835bc

☆ Egypt Launches Privatization Drive as Economy Reels From Inflation
▼ + stars: | 2023-02-09 | by ( Chao Deng | ) www.wsj.com time to read: 1 min

Egypt has pledged to reduce the role of state and military-owned companies in favor of private businesses in the economy. CAIRO—Egypt is set to sell stakes in 32 state-run companies in everything from electricity and banking to hotels, in a bid to attract more private investment as the cash-strapped country grapples with the economic fallout from the Ukraine war. The country plans to sell shares in at least 32 state companies in the coming year either directly to investors or via the Egyptian Stock Exchange, Egyptian Prime Minister Mostafa Madbouly said Wednesday. The list includes stakes in locally prominent firms such as Banque du Caire and Egypt’s largest insurance company, Misr Life Insurance Co.

Foreign investors, many of them already underweight what they consider an overpriced stock market, are reducing exposure. "Only Adani Group is trading with these ridiculously high multiples, and that is the core of the problem." "At this point in time, I don’t think it’s a systemic risk," said Jimmy Lim, chief investment officer at Modular Asset Management in Singapore. "We don't think that there's going to be a default anytime soon, although I don't expect any kind of near-term resolution between Adani Group and Hindenburg," Chao said. Yet Chao expects the selloff to help bring Indian stock valuations to more "palatable levels" for investors.

Former Transportation Secretary Elaine Chao called out former President Donald Trump amid his racist broadsides aimed at her and his other anti-Asian rhetoric. Trump, who is ramping up his 2024 presidential campaign, has repeatedly made racist attacks against Chao, who served in his administration, in recent months. Chao’s latest statement comes in the wake of several high-profile shootings targeting Asian Americans. Other Republicans, such as Sen. Rick Scott, R-Fla., have stopped short of condemning Trump’s attacks, often equating them to the former president’s penchant for using nicknames. She later served as Transportation secretary for the Trump administration.

☆ Elaine Chao, Trump-era transportation secretary and Mitch McConnell's wife, hits back at Trump for giving her the racist nickname 'Coco Chow'
▼ + stars: | 2023-01-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Former Transportation Secretary Elaine Chao has spoken out against Trump's attacks on her. Trump on Monday again referred to Chao as "Coco Chow" in a Truth Social post. Chao said the racist nickname said more about Trump "than it will ever say about Asian Americans." Chao released her statement after Trump in a Truth Social post on Monday once again referred to her by the nickname "Coco Chow." When approached for comment about Chao, Trump's spokesperson, Steven Cheung, told Politico: "People should stop feigning outrage and engaging in controversies that exist only in their heads."

Search resuls for: "Chao"

25 mentions found