Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of US sanctions. The Shenzhen-based company reported a net profit of 87 billion yuan (USD 12 billion), helped by strong sales and an improved product portfolio. Revenue jumped nearly 10 per … Read more
Iran, the biggest market for Indian basmati rice and premium orthodox tea, has stopped giving fresh orders for these commodities amid anti-government, anti-hijab protests across Iranian cities, slowing down exports from India considerably. Trade insiders said Iranian buyers have stopped giving fresh orders as they are keeping a close watch on the developments in the … Read more
With the White House calling Russian deployments in eastern Ukraine an invasion, it’s expected to follow up with tough sanctions. President Joe Biden has made clear the United States intends to deploy sweeping financial penalties, not American troops, to hit Russia over President Vladimir Putin’s moves against Ukraine. The Biden administration says its toughest sanctions … Read more
NEW YORK: Oil fell more than $3 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to monthly production hikes from May to July. OPEC … Read more
Washington: The United States on Monday imposed sanctions on 14 senior Chinese officials as it vowed there would be a price to pay for Beijing’s growing clampdown in Hong Kong. President Donald Trump‘s administration said it was freezing any US assets and barring travel to the United States of 14 vice chairs of the Standing … Read more
Beijing: London-based HSBC bank has denied Chinese media reports that it had “framed” telecom giant Huawei or “fabricated evidence” that led to the arrest of a top company official. Washington’s investigations into Huawei — for allegedly violating US sanctions on Iran — started before the bank’s involvement with the company in late 2016, the lender … Read more