Business

China, U.S. can find common ground on tariff exclusions, Chinese think tank says

The Biden administration is unlikely to remove tariffs on Chinese goods in the short term, but China and the United States might find a middle ground by increasing tariff exclusions as a way to reduce tensions, a Chinese think-tank said. With even free trade advocates in the U.S. lobbying that Washington should use tariff cuts […]

Business

Egyptian court delays hearing in Suez container ship compensation case

An Egyptian court on Saturday postponed a hearing in a compensation case filed by the Suez Canal authority against the owners of a container ship that blocked the canal for six days in March, giving the sides more time to negotiate, legal sources said. The Ever Given, one of the world’s largest container ships, became […]

Business

Bitcoin falls 5.2% to $33,849, Ether down 6.3%

Bitcoin dipped 5.16% to $33,849.47 at 18:00 GMT on Saturday, losing $1,842.99 from its previous close. Ether , the coin linked to the ethereum blockchain network, dropped 6.26% to $2,262.06 on Saturday, losing $151.11 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 47.8% from the year’s high of $64,895.22 on […]

Business

British retail faces “tsunami of closures” without rent help

Britain’s retail sector will endure a “tsunami of closures” if the government does not extend a moratorium on aggressive debt enforcement, industry lobby group the British Retail Consortium (BRC), said on Sunday. Citing survey data it said two thirds of British retailers have been told by landlords they will be subject to legal measures to […]

Business

Yellow Metal, Silver Drop, Experts Suggest Buy on Dips

Gold prices in India dipped slightly on Thursday tracking the global peers. On the Multi-Commodity Exchange (MCX), June gold futures plunged 0.33% to Rs 48,622 for 10 grams at 4.30 pm. July silver futures dropped 0.21 per cent lower at Rs 71,261 a kilogram. In the international market, gold steadied off the key $1,900 level […]

Business

Intel reiterates chip supply shortages could last several years

Intel Corp’s (INTC.O) CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas, including consumer electronics. Pat Gelsinger told a virtual session of the Computex trade show in Taipei that […]

Business

How will China’s latest oil probe affect the world’s biggest crude importer?

This year China’s government has been gradually ramping up scrutiny of its sprawling oil industry, reinforcing its authority with new taxes on refined products while investigating crude imports by state energy giants and independent refiners. Last Tuesday, the country’s top economic planning agency gave five state-owned companies just two days to report on their historic […]