Geely-owned Volvo Car Group said on Wednesday all new models launched from 2019 will be fully electric or hybrids, spelling the eventual end to nearly a century of Volvos powered solely by the internal combustion engine. The Gothenburg-based company will continue to produce pure combustion-engine Volvos from models launched before that date, but said it […]
Read moreFinland’s Nokia and Chinese smartphone maker Xiaomi announced an agreement on Wednesday to cross-license patents from each other, which will help both companies develop new products. The deal will see both companies license so-called standard essential patents — patents which are essential to allow products to comply with an industry standard — from each other. […]
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French prime minister taunts Trump as ‘scared of the future’ and compares him to an ostrich
France’s newly-installed Prime Minister Edouard Philippe has used his first address to Parliament to make a subtle rebuke at President Donald Trump, saying that anybody who refused to sign the Paris climate agreement was not only selfish but “scared of the future.” In outlining his government’s reform agenda Tuesday, the 46-year-old lawyer turned politician reiterated […]
Read moreAs China expands its influence into Southeast Asia, Malaysia has emerged as one of the biggest winners, with its port and railway projects expected to receive as much as 400 billion ringgit ($93 billion) from the world’s second largest economy, Citi Research said in a Tuesday note. But questions have persisted over the commercial viability […]
Read moreThe Chinese government’s efforts to clean up air quality are bearing fruit as use of dirty coal has likely dropped 40 percent over the last five years, said Wood Mackenzie. According to data from the consultancy, the use of low-quality or dirty coal, known as sanmei, will fall to 469 million tons this year from […]
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'Best time in history' for China-Russia relationship: Xi and Putin boost ties
Strategic ties between Russia and China were appraised in glowing terms as Chinese President Xi Jinping wrapped up a two-day state visit to Russia, concluding with at least $10 billion in agreements. Xi, who met with Russian President Vladimir Putin during the trip, told Russian media that relations between the two countries were currently at […]
Read moreNorth Korea’s latest missile launch indicates the reclusive regime is trying to drive a wedge between the United States and South Korea, a former U.S. ambassador to that country said Wednesday. Christopher Hill, who was ambassador to the Republic of Korea from 2004 to 2005, told CNBC’s “Squawk Box” that the North Korean regime believes […]
Read moreChina Caixin services purchasing managers’ index (PMI) on Wednesday showed growth slowed in June, as new order volumes weakened, but it continued to show rising demand. The June Business Activity Index came in at 51.6, down from May’s four-month high of 52.8, with the release from Caixin and PMI by IHS Markit saying it pointed […]
Read moreGrowth in shadow banking in China is slowing due to coordinated government action to contain systemic financial risks, a development that will benefit banks, although it will also bring adjustment risks, Moody’s Investors Service said in a report Tuesday. The ratings agency’s analysis showed the effectiveness of coordinated measures by authorities by the central bank, […]
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