China’s state council announces special tax policies in Shanghai Free Trade Zone
China said it will implement a special tax policy in the Shanghai Free Trade Zone, the country’s State Council or cabinet said on Tuesday.
China says U.S. currency manipulator labeling could cause chaos in financial markets
China’s central bank said on Tuesday that Washington’s decision to label Beijing as a currency manipulator would “severely damage international financial order and cause chaos in financial markets”.
Rout relents as China keeps yuan on leash
A rout in global markets moderated on Tuesday as China kept the yuan on a tight leash after its landmark drop past 7-per-dollar led the United States to label Beijing a currency manipulator.
Exclusive: India raises cost of refinery project with Aramco by 36% – sources
India has increased the cost estimate of a giant refinery and petrochemical project to be jointly built with Saudi Aramco and Abu Dhabi National Oil Co by more than 36%, after protests by farmers forced the relocation of the plant, four sources said.
Goldman Sachs sees no trade deal before 2020 U.S. election, now expects three rate cuts
Goldman Sachs said it no longer expects the United States and China to agree on a deal to end their prolonged trade dispute before the November 2020 presidential election as policymakers from the world’s largest economies are “taking a harder line”.
More flexible yuan could be positive for China’s credit rating: Fitch
A freer-floating yuan could be a positive for China’s sovereign credit rating, agency Fitch said on Tuesday, by helping preserve its foreign exchange reserves and cushioning some of the negative effects of U.S. trade tariffs.
China firmly opposes currency manipulator label: PBOC
China firmly opposes a U.S. decision to label it a currency manipulator, its central bank said on Tuesday, adding that Beijing has not used and will not use the yuan to cope with trade frictions with the world’s biggest economy.
Air China to suspend Beijing-Hawaii flights amid weak travel demand
Air China will suspend its flights on the Beijing-Hawaii route from Aug. 27 after a review of its network, China’s flagship carrier said on Tuesday, as travel demand remains weak amid an escalating U.S.-China trade war.
Luxury department store Barneys files for bankruptcy protection
U.S. luxury department store chain Barneys New York Inc filed for Chapter 11 bankruptcy on Tuesday and put itself up for sale after facing soaring rents and failing in its earlier attempts to find a buyer for the cash-strapped retailer.
Vivendi in talks to sell 10% of Universal Music Group to Tencent
Vivendi is in talks to sell a 10% stake in its prized and lucrative Universal Music Group (UMG) to Chinese tech company Tencent as it seeks to expand its presence in Asia.
