Business

Business & Economy

Huawei rebukes U.S. ambassador's accusation, defends integrity and safety

BRUSSELS, Feb. 7 (Xinhua) -- In one of the strongest public remarks ever, a senior representative of China's tech company Huawei on Thursday night rebutted fear-mongering against the company.

In a ballroom in Brussels packed with well over 100 guests, mostly Europeans, Huawei's envoy to the European Union institutions launched into a robust defense of the Chinese technology giant.

Taliban say Moscow talks with Afghan politicians 'very successful'

06 Feb 2019; DW: The Taliban on Wednesday hailed unprecedented talks with Afghan politicians as "very successful", despite disagreements over women's rights and the group's demand for an Islamic constitution in the war-torn country.

The extraordinary two-day gathering in Moscow saw Taliban leaders stand shoulder-to-shoulder with former president Hamid Karzai, who called the insurgents his "brothers" as both sides agreed to seek lasting peace.

Qantas cancels order for 8 Airbus A380s

07 Feb 2019; DW: Australian airline Qantas Airways on Thursday announced it had formally canceled an order for eight Airbus A380 superjumbo jets.

"Following discussions with Airbus, Qantas has now formalized its decision not to take eight additional A380s that were ordered in 2006," a Qantas spokesperson said. "These aircraft have not been part of the airline's fleet and network plans for some time."

Theresa May in Brussels in bid to reopen Brexit negotiations

07 Feb 2019; DW: British Prime Minister Theresa May will attempt to negotiate the Irish backstop with EU representatives in Brussels. It comes after Donald Tusk said there was a 'special place in hell' for those that promoted Brexit.

British Prime Minister Theresa May was to return to Brussels on Thursday in an attempt to reopen talks on the Brexit divorce agreement with the European Union.

Germany, France announce next-gen fighter jet project

06 Feb 2019; DW: German Defense Minister Ursula von der Leyen and French Defense Minister Florence Parly announced plans to produce a new joint fighter jet on Wednesday.

The two spoke at Gennevilliers near Paris at a facility operated by Safran Aircraft Engines, which will produce the jet's new engine in collaboration with Germany's MTU Aero Engines.

China still General Motors' biggest market

CHICAGO, Feb. 6 (Xinhua) -- General Motors (GM) sold 3.65 million vehicles last year in China, which retained the title of the biggest market for the leading U.S. auto maker.

GM released its 2018 year-end report on Wednesday, saying that in the midst of a softening auto market in China, it delivered 3,645,044 vehicles there, down 9.8 percent year on year.

Still, it sold more units in China in 2018 than its home market, where GM delivered nearly 3 million vehicles.

Trump nominates Treasury undersecretary Malpass to lead World Bank

WASHINGTON, Feb. 6 (Xinhua) -- U.S. President Donald Trump announced Wednesday that he has chosen David Malpass, undersecretary for international affairs at the U.S. Treasury Department, as the U.S. candidate for the next president of the World Bank.

Calling Malpass a "very extraordinary man," Trump said in a statement at the White House that he launched a "broad search for replacement" for Jim Yong Kim, the former World Bank chief who abruptly resigned in early January and stepped down Friday.

Reserve Bank of India cuts interest rate by 25 pc

Mumbai, Feb 7 (PTI) The Reserve Bank of India Thursday cut benchmark interest rate by 0.25 per cent to 6.25 per cent on expectation of inflation staying within its target range, a move that may translate into lower monthly installments for home and other loans.

The central bank also changed its monetary policy stance to 'neutral' from the earlier 'calibrated tightening', signalling further softening on its approach towards interest rates.

Turkey-US working group meets in Washington

WASHINGTON; 06 Feb 2019; AA: The Turkey-U.S. Joint Working Group held its final meeting in Washington, D.C. Tuesday, chaired by Turkey's Deputy Foreign Minister Sedat Onal and U.S. Undersecretary of State for Political Affairs David Hale. 

A diplomatic source who spoke on condition of anonymity confirmed the meeting was held at the State Department. It tackled bilateral relations between Ankara and Washington and regional affairs.

Maduro calls on West to lift sanctions instead of sending humanitarian aid

CARACAS, February 5. /TASS/. Venezuelan President Nicolas Maduro has urged Western states to remove sanctions on the South American country instead of sending humanitarian aid there if they want to help Venezuelans.

"At first they [Western states] block our billions of dollars and then they say that they want to send humanitarian assistance. If you want to help Venezuela, then stop the blockade and lift the sanctions," Maduro said, according to the Foreign Ministry’s Twitter.

Subscribe to Business