Russia will issue government bonds priced in the Chinese currency, the yuan, for the first time in December. The Russian Ministry of Finance announced this on Wednesday. The move reflects the increasing economic entanglement between Russia and China as Russia grapples with Western sanctions stemming from the war in Ukraine. The government bonds, with maturities […]
The sale of TikTok’s US operations is expected to close on Thursday, according to the US Treasury Secretary. Oracle will acquire a major stake in the popular video streaming service. The streaming service must be sold to the US government to continue operating in the country. TikTok, owned by the Chinese company Bytedance, is currently […]
Chinese chipmakers aim to triple their production of chips for artificial intelligence (AI) applications in the country next year, according to the British business newspaper Financial Times, citing insiders. This is China’s way of reducing its dependence on the American chipmaker Nvidia. According to the newspaper, Huawei plans to begin production at a factory dedicated […]
The BRICS countries, including China, Brazil, Russia, South Africa and India, do not want a confrontation with US President Donald Trump on trade. This was stated by a spokesperson for the Chinese Ministry of Foreign Affairs after Trump’s threat to impose an additional import duty of 10 percent on countries that join the BRICS’ “anti-American […]
TikTok is building a new version of its app for users in the United States, ahead of the planned sale of the app to a group of investors. The Information reports this, a technology news site. The short video platform plans to launch its new app in American app stores on September 5. On Friday, […]
China will impose import restrictions on medical equipment from the European Union once its value exceeds 45 million yuan (approximately $6.8 million). The “countermeasure” will take effect on Sunday, the Chinese Ministry of Finance announced. Companies that supply this equipment will no longer be allowed to participate in government tenders, the ministry said. China will […]
