In a statement Renault said, it would sell a little over a third of its Korea unit to China’s Geely Automobile Holdings for around $200 million. The move is aimed at freeing up funds for Renault to invest in its electric business… Read More ›
China
Russia’s Sberbank developing domestic cloud infrastructure following sanctions
In a significant development, Russia’s top lender Sberbank said, it is developing an entirely domestic cloud infrastructure following Western sanctions which have caused issues with its foreign cloud partner. Western countries have imposed sanctions on Russian banks. Sberbank has started developing technology… Read More ›
Lockheed Martin expects weapon sales jump beyond Ukraine Russia theatre: CEO
US weapons giant Lockheed Martin Corp plans on doubling the production of Javelin missiles, said its Chief Executive Officer James Taiclet. Lockheed Martin aims to boost the production of the anti tank weapon system from 2,100 to 4,000 per year in… Read More ›
Former Vice President of China Development Bank charged with taking bribe
On Friday, a report from China’s official Xinhua news agency said, He Xingxiang, a former vice president of China Development Bank (CDB), has been charged for taking bribes. “He has also been charged for issuing financial bills in violation of… Read More ›
Saudi Arabia could cut June crude prices for Asia, as it competes for marketshare with Russia
On Friday, oil traders opined, Saudi Arabia is likely to cut crude oil prices to Asia in June following a slump in demand from China, which is seeing increasing COVID lockdowns which are curbing demand. China is the world’s biggest… Read More ›
In first Asia visit German Chancellor Olaf Scholz visits Japan, skips China
In a significant development German Chancellor Olaf Scholz said, Berlin seeks closer relations with countries that shares its common democratic values in the Asia-Pacific region. Scholz is scheduled to visit Japan and will skip going to China, during his first… Read More ›
House of Representatives passes bill to help Taiwan regain observer status at WHO
In a significant development, the U.S. House of Representatives has unanimously passed legislation calling on the State Department to submit a plan to help Taiwan regain its observer status at the World Health Organization. The House of Representatives passed the… Read More ›
Europe-South Korea relations key to managing fallout of US-China rivalry
According to former ambassadors and government officials, it is important that Europe nurtures closer ties with South Korea under South Korean President elect Yoon Suk-yeol to manage China’s rising power and the increasing rivalry between the United States and Beijing…. Read More ›
Sri Lanka in early debt refinancing talks with China
On Tuesday, a spokesman for Sri Lanka’s cabinet said, Sri Lanka has started negotiations with China on refinancing its debt as it struggles to manage its worst financial crisis in decades. “Now since the IMF is willing engage with Sri… Read More ›
Chinese self driving robotaxi startup gains taxi license permit in Nansha, Guangzhou
In a statement self-driving tech startup Pony.ai said, it has obtained a taxi license in China which will allow it to monetize some of its driverless vehicles in the country since it will be allowed to charge fares on them…. Read More ›
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