Category: Business

China’s President Xi Jinping did not mention U.S. President Donald Trump by name or speak directly about rising trade frictions with Washington during a closely watched speech at the Boao Forum — China’s version of Davos for Asia. But the pledges Xi made to press forward with economic reforms had everything to do with the trade dispute and President Trump’s threats to levy heavy tariffs on Chinese goods. In his speech, Xi mentioned the phrase “opening up” 42 times. One of the key messages of his speech was that China was open for business. It was also an effort, one analyst said, to highlight a contrast between Beijing’s approach and Washington. "I want to clearly tell everyone, China’s door for opening will not close, but will only open wider," Xi…

Brazil's government has been told that development projects, including hydropower dams, in protected areas can no longer go ahead without the prior approval of lawmakers. Last week's ruling by the supreme court followed the use by the government in recent years of the controversial "provisional measure", a legal instrument that allowed the president to approve projects by reducing the size of protected areas. Campaigners said the decision should ensure the country's forests and reserves, including the Amazon rainforest, were better protected. "This decision puts an end to a spree of provisional measures in the name of environmental de-protection," said Mauricio Guetta, a lawyer at Instituto Socioambiental (ISA), an advocacy group. In recent years, the government has used the measure to open up protected areas for controversial projects, including building two…

Afghanistan is set to exploit its unique agricultural climate by refining and exporting another kind of flower, orange blossoms! An Afghan investor found a way to extract the citrusy, floral bouquet from the delicate flowers to create perfumes. As VOA's Zabihullah Ghazi reports in Jalalabad, not only is the perfume diversifying the country's agricultural output, it's also providing employment opportunities. Shaista Sadat Lami narrates. ...

U.S. President Donald Trump predicted Sunday there would be a resolution of the U.S.-China standoff on tariffs on hundreds of billions of dollars of goods the world's two biggest economies are threatening to impose on each other. The U.S. leader said, without offering any direct information, that "China will take down its Trade Barriers because it is the right thing to do." Trump said that "taxes will become Reciprocal & a deal will be made on Intellectual Property. Great future for both countries!" Regardless, Trump said that he and Chinese President Xi Jinping "will always be friends, no matter what happens with our dispute on trade." The threats Washington and Beijing have lobbed at each other in recent days have rattled world stock markets, with wide swings of hundreds of…

Taiwan says it regrets that the "one China" policy insisted on by Beijing prevents it from providing much needed development aid to most countries in Africa. Taiwan was in a relatively good diplomatic position in Africa several years ago. Taiwan’s Deputy Secretary-General for International Cooperation and Development, Pai-po Lee, says this made it possible for those countries that had diplomatic relations with Taiwan to benefit from his agency’s aid projects. “Previously, we have over nine countries with Taiwan. For instance, Senegal, the Gambia, Chad, Niger, Liberia, Central Africa — also Sao Tome Principe… Six years ago, they still have relations with Taiwan. But, then they shifted to China,” said Pai-po Lee. Lee says Taiwan had invested a lot in the African region. But, all that is now in the past.…

The U.N. secretary-general and the Singaporean foreign minister voiced concerns about global trade tensions and rising protectionism during back-to-back meetings in Beijing on Sunday. Following remarks from his Chinese counterpart, Singaporean Foreign Minister Vivian Balakrishnan vowed to "double-down'' on free trade and economic liberalization in tandem with China.   "This is a time in the world where the temptation to embark on unilateralism and protectionism is unfortunately rising," Balakrishnan said.   In a separate meeting, Secretary-General Antonio Guterres called China "absolutely crucial" in the international system.   "You mentioned reform and opening up — it's so important in a moment when some others have a policy of closing up," Guterres told Chinese Foreign Minister Wang Yi.   "The solutions for these problems are not to put globalization to question, but…

Some 30 percent of Air France flights were cancelled Saturday as strikes over pay rises appear to be intensifying. And that's just part of France's travel troubles this month. Most French trains will screech to a halt as a strike over President Emmanuel Macron's economic reforms resumes Saturday night - a strike that is set to last through Monday. Screens at Paris' Charles de Gaulle Airport showed red "cancelled" notes next to multiple flights Saturday, as families around France and Europe headed off on spring vacations. The one-day Air France walkout is affecting international and domestic travel, notably a quarter of flights at Paris' Charles de Gaulle and Orly airports. Air France is urging passengers to check the status of their flights before coming to the airport and offering to…

Following the success of West Virginia teachers in securing a pay raise, educators in Oklahoma and Kentucky are walking out of their classrooms, demanding that lawmakers increase education spending in their states. Arizona teachers may soon follow suit. From Washington, VOA's Jill Craig has more. ...

Federal law enforcement authorities are in the process of seizing Backpage.com and its affiliated websites. A notice that appeared Friday afternoon at Backpage.com says the websites are being seized as part of an enforcement action by the FBI, U.S. Postal Inspection Service and the Internal Revenue Service. The notice doesn't characterize or provide any details on the nature of the enforcement action. It says authorities plan to release information about the enforcement action later Friday. Backpage.com lets users create posts to sell items, seek a roommate, participate in forums, list upcoming events or post job openings. But Backpage.com also has listings for adult escorts and other sexual services, and authorities say advertising related to those services has been extremely lucrative. This story was written by the Associated Press. ...

The Trump administration is considering ways to require imported automobiles to meet stricter environmental standards in order to protect U.S. carmakers, The Wall Street Journal reported Friday. Responding to the story, White House spokeswoman Sarah Huckabee Sanders said President Donald Trump "will promote free, fair and reciprocal trade practices to grow the U.S. economy and continue to [bring] jobs and manufacturers back to the U.S." Citing unnamed senior administration and industry officials, the Journal said Trump had asked several agencies to pursue plans to use existing laws to subject foreign-made cars to stiff emission standards. It appears such nontariff barriers could have a greater potential effect proportionately on European automakers, which collectively import a greater percentage of cars from plants outside the U.S., according to sales figures from Autodata. In…

U.S. President Donald Trump and his administration said Friday that the United States was not engaged in a trade war with China, even as Trump threatened to impose tariffs on an additional $100 billion worth of Chinese goods and Beijing warned it was willing to fight back. “This is just a proposed idea, which will be vetted by USTR [the U.S. trade representative], and then open for public comment, so nothing has happened, nothing has been executed,” said White House chief economic adviser Larry Kudlow amid growing concerns about escalating rhetoric between Washington and Beijing. The economic adviser said Beijing’s theft of intellectual property was “at the root” of U.S. concerns and added “we can’t allow them [China] to steal our technology, because when they steal our technology, they are…

U.S. stocks plunged again Friday over increasing concerns about a trade war between the United States and China. The Dow Jones industrial average lost 572 points by the close, shedding 2.3 percent. The Standard & Poor's 500 dropped nearly 2.2 percent, while the NASDAQ fell nearly 2.3 percent at the end of trading. Earlier Friday, President Donald Trump continued to protest China's trade practices after threatening China on Thursday with increased tariffs on $100 billion worth of additional goods. In a twitter post Friday, Trump said, "China, which is a great economic power, is considered a Developing Nation within the World Trade Organization. They therefore get tremendous perks and advantages, especially over the U.S. Does anybody think this is fair. We were badly represented. The WTO is unfair to U.S." China's…

Did March provide another month of blowout hiring? Was pay growth healthy? When the government issues its monthly jobs report Friday, those two questions will be the most closely watched barometers. Economists have forecast that employers added a solid 185,000 jobs in March and that the unemployment rate dipped from 4.1 percent to a fresh 17-year low of 4 percent, according to data provider FactSet. The government will issue the jobs report at 8:30 a.m. Eastern time. In February, employers added a blockbuster 313,000 jobs, the largest monthly gain in 18 months. Over the past six months, the average monthly gain has been 205,000, up from an average of 176,000 in the previous six months. Hiring at that pace could help nudge the unemployment rate below 4 percent in the…

The Trump administration says China is responsible for a trade war with the United States because of its long-term unfair practices. A senior White House economic adviser said Thursday no measures have been enacted, but the situation cannot continue. U.S. President Donald Trump said the United States and China will have a "fantastic relationship" once they straighten out their trade issues. But analysts warn that raising tariffs is not good for the global economy. VOA's Zlatica Hoke has more. ...

Venezuela said on Thursday it was halting commercial relations with Panamanian officials and companies, including regional airline Copa, for alleged involvement in money laundering, prompting Panama to recall its ambassador. The resolution names Panamanian President Juan Carlos Varela and nearly two dozen Cabinet ministers and top-ranking officials, adding that Panama's financial system had been used by Venezuelan nationals involved in acts of corruption. Venezuela said the individuals named in the resolution "present an imminent risk to the [Venezuelan] financial system, the stability of commerce in the country, and the sovereignty and economic independence of the Venezuelan people." The statement came a week after Panama declared President Nicolas Maduro and about 50 Venezuelan nationals as "high risk" for laundering money and financing terrorism. Caracas did not detail whether the move would halt…

The trade dispute rumbling between China and the U.S. has raised the possibility consumers in Beijing may end up paying higher prices for American beef, liquor and tobacco if Beijing goes ahead with hikes on tariffs for such products. Below are thoughts shared with The Associated Press by a few Beijing residents.   The investor   Yang Shumei, 29, a freelance worker from southwestern China's Guangxi province: "I think this [the threat of a trade war] does influence my life and other areas to a certain extent. I invest in stock markets, and shares have fallen sharply as the risk is high.''   The optimist   Feng Weifeng, 36, a salesman from Beijing: "I believe imposing extra tariffs from both sides is just a temporary measure and a win-win situation…

President Donald Trump said Wednesday the United States is not in a trade war with China, after Beijing announced plans to impose tariffs on $50 billion worth of U.S. goods in response to a similar package announced by the United States. In a Twitter post Wednesday, Trump contended, “We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.” He added, “Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!” On the same day, White House chief economic adviser Larry Kudlow told Bloomberg News, “None of the tariffs have been put in place yet, and these are all proposals.” Commerce…

Wall Street's three major indexes staged a comeback to close around 1 percent higher Wednesday as investors turned their focus to earnings and away from a trade conflict between the United States and China that wreaked havoc in earlier trading. After investors fled equities in the morning because of proposed retaliatory tariffs from China, their concerns about a potential trade war eased by the afternoon after President Donald Trump's top economic adviser, Larry Kudlow, said the administration was in a "negotiation" with China rather than a trade war. Investors said they were comforted by the fact that any tariffs would not take effect immediately, if at all. Strategists also cited the Standard & Poor's bounce above a key technical support level and said they expected equities to rise further around the first-quarter earnings season, due to start in mid-April. "We're…

A jury has awarded nearly $17 million to a former Ford engineer who sued the automaker for discrimination because he says two supervisors repeatedly berated and criticized him for his Arab background and accent. The Detroit Free Press reports that a federal jury in Michigan ruled March 28 that Faisal Khalaf was subjected to workplace discrimination and retaliation after he reported the abuse. Khalaf was born in Lebanon. The jury awarded Khalaf $15 million in punitive damages, $1.7 million in retirement and pension losses, and $100,000 for emotional distress for the actions of Ford supervisors Bennie Fowler and Jay Zhou. A Ford representative says the company disagrees with the verdict and is pursuing options to get it "corrected." Ford has been criticized for workplace discrimination before, including in a December…

The possible closure of a major coastal tourism magnet in the Philippines for environmental cleanup will hurt business, but for a cause that helps everyone longer term, experts say. President Rodrigo Duterte said via the presidential website in March he would place Boracay Island under a “state of calamity.” The island may be shut down for two to 12 months, Philippine media reports say, citing other statements from Duterte and cabinet members. The government is “addressing wastewater issues through an improved sewerage system,” the country’s environment minister Roy Cimatu said in a March 27 statement. Boracay, a 10.3-square-kilometer feature in the central Philippines, has been compared to Bali and other Asian beach resort hot spots. Its main white sand beach runs four kilometers, paralleled by a strip of at least…

China announced Wednesday it plans to impose tariffs on $50 billion worth of U.S. goods in response to a similar package announced by the United States. The Chinese measures would boost tariffs by 25 percent on 106 U.S. products, including soybeans, aircraft and cars. China's commerce ministry responded with its own measures less than 11 hours after the U.S. issued a proposed list of Chinese goods. The ministry said the question of when the measures will go into effect will depend on when the U.S. tariffs become active. U.S. President Donald Trump announced his intention to impose $50 billion in increased tariffs on Chinese products last month, and on Tuesday the U.S. Trade Representative released a proposed list of 1,300 goods including aerospace, medical and information technology products. Subject to…

The Trump administration on Tuesday raised the stakes in a growing trade showdown with China, announcing 25 percent tariffs on some 1,300 industrial technology, transport and medical products to try to force changes in Beijing's intellectual property practices. The U.S. Trade Representative's office unveiled a list of mainly non-consumer products representing about $50 billion of annual imports that would nonetheless hit supply chains for many U.S. manufacturers. The list ranges from chemicals to light-emitting diodes, motorcycles and dental devices. Publication of the tariff list starts a public comment and consultation period expected to last around two months, after which USTR said it would issue a "final determination" on the product list. It has scheduled a May 15 public hearing on the tariffs. USTR said the tariffs were proposed "in response…

Nearly a dozen U.S. states and Washington, D.C., on Tuesday promised to defend federal automobile efficiency standards against a rollback proposed this week by Scott Pruitt, the head of the Environmental Protection Agency. "All Americans ... deserve to enjoy fuel-efficient, low-emission cars and light trucks that save money on gas, improve our health and support American jobs," the attorneys general from 11 states said in a statement responding to Pruitt's proposal on Monday to ease the Obama-era standards. The standards called for roughly doubling by 2025 the average fuel efficiency of new vehicles sold in the United States to about 50 miles (80 kilometers) per gallon. Proponents say such standards help spur innovation in clean technologies and cut emissions of the greenhouse gas carbon dioxide. California has long been allowed by an EPA waiver to impose stricter standards than Washington…

The government of Aung San Suu Kyi is opening the economy and growth is rebounding in Myanmar, though the possibility of broader Western sanctions over the Rohingya refugee crisis is nevertheless giving some foreign investors pause, according to a senior IMF official. Shanaka Jay Peiris, the International Monetary Fund's (IMF) mission chief to Myanmar, said in a recent interview that initial data reviewed by the IMF indicated that some foreign investors were delaying final approval of projects until there was clarity about how the situation may unfold. "The numbers we have for FDI [foreign direct investment] aren't showing it yet ... but foreign investment approvals are slowing down, so there is some indicator that going forward FDI may be weaker," Peiris told Reuters following the publication last week of the…

Stock markets in Asia fell Tuesday, but did not suffer losses as steep as those Monday in U.S. markets where continued fears about a U.S.-China trade war and a verbal attack on an online retailer by President Donald Trump sent stocks lower. Markets in Japan and Hong Kong fell by more than one percent in early trading, but by midday had rebounded to make back half the losses. The U.S. Down Jones Industrial Average closed down 1.9 percent Monday, while the Standard & Poor's 500 dropped 2.3 percent and the NASDAQ fell nearly three percent. Trump has strongly criticized online giant Amazon three times in the last few days. Amazon founder Jeff Bezos also owns The Washington Post, whose revelatory stories on Trump and his administration frequently draw the president's…

First, the United States imposed a tax on Chinese steel and aluminum. Then, China counterpunched Monday with tariffs on a host of U.S. products, including apples, pork and ginseng.  On Wall Street, the stock market buckled on the prospect of an all-out trade war between the world's two biggest economies. But it hasn't come to that - not yet, anyway. "We're in a trade slap-fight right now,'' not a trade war, said Derek Scissors, resident scholar and China specialist at the conservative American Enterprise Institute. China is a relatively insignificant supplier of steel and aluminum to the United States. And the $3 billion in U.S. products that Beijing targeted Monday amount to barely 2 percent of American goods exported to China. But the dispute could escalate, and quickly. Already, in…

For farmers trying to figure out how to heal a sick cow or grow tomatoes commercially in this Himalayan community, help is at hand in the form of a crumbling, earthquake-scarred library. In a rural area where searching for information online or paying for expert advice is rarely an option, the library is a first stop for female farmers daunted by their new role: running the family farm while their husbands are away looking for work. "Most of the men have migrated for money now in Nepal. It's a very huge problem," said Meera Marahattha, the "human Google" who runs the library. But there's an upside. "Because of this male migration, females have the opportunity to lead," she added - sometimes for the first time. Migration is growing around the…

China raised import duties on a $3 billion list of U.S. pork, fruit and other products Monday in an escalating tariff dispute with President Donald Trump that companies worry might depress global commerce. The Finance Ministry said it was responding to a U.S. tariff hike on steel and aluminum that took effect March 23. But a bigger clash looms over Trump's approval of possible higher duties on nearly $50 billion of Chinese goods in a separate argument over technology policy. The tariff spat is one aspect of wide-ranging tensions between Washington and Beijing over China's multibillion-dollar trade surplus with the United States and its policies on technology, industry development and access to its state-dominated economy. Forecasters say the immediate impact should be limited, but investors worry the global recovery might…