Tag Archives: China

Tehran, Iran | AFP | Iran signed a deal with France’s Total on Tuesday to develop a major offshore gas field, its first big contract with a Western energy firm since sanctions were loosened in January. Total will lead a consortium also including China National Petroleum Corporation (CNPC) and Iran’s …

Shanghai, China | AFP | China Monday replaced finance minister Lou Jiwei, state media reported, with some analysts predicting more fiscal stimulus in the world’s second-largest economy. Lou was relieved of his duties and replaced by 59-year-old Xiao Jie, the deputy secretary-general of the State Council, or cabinet, Xinhua news …

Threat to cut funding leads to fight among energy bosses Sparks are flying between President Yoweri Museveni and his Chinese lenders, Exim Bank, on one hand and between Ministry of Energy officials and of the Uganda Electricity Generation Company Ltd (UEGCL) on the other. Trouble is over the piling up …

Algiers, Algeria | AFP |  Algeria’s state energy company Sonatrach on Sunday awarded the China Petroleum Engineering and Construction Corporation (CPECC) a 380-million-euro ($420-million) contract to renovate its Algiers refinery. CPECC, which is affiliated to the China National Petroleum Corporation, will rehabilitate the refinery after Sonatrach severed an initial deal …

New York, United States | AFP | New York’s state bank regulator fined the giant Agricultural Bank of China $215 million on Friday for violating anti-money laundering laws and obscuring suspicious transactions involving Russia, China, Afghanistan and other countries. Citing a deliberate failure to scrutinize dubious money transfers, the Department …

Munich, Germany | AFP | Chinese electronics firm Huawei on Thursday unveiled its latest Mate 9 smartphone in Munich, designed to challenge global market leaders Apple and Samsung with features including a high-quality camera and higher-capacity battery. As Korea’s Samsung struggles with negative publicity following the high-profile recall of its …

United Nations, United States | AFP |  Kenya on Thursday accused the United Nations of bowing to pressure from certain countries by setting up an investigation that pinned the blame for peacekeeping failures in South Sudan on the Kenyan force commander. Ambassador Macharia Kamau charged that “certain current and future …

Beijing, China | AFP |  Chinese e-commerce giant Alibaba’s sales soared 55 percent in the last quarter, thanks in part to a more than doubling of revenue from cloud computing, the company said Wednesday. The year-on-year growth in group sales, to 34.29 billion yuan ($5.14 billion), was not matched by …

Zurich, Switzerland | AFP | China’s state-owned chemical corporation (ChemChina) said Tuesday that it had extended its $43 billion offer for Swiss seed giant Syngenta until January 5, after EU regulators announced they would probe the deal. The massive takeover would be the biggest in a recent spate of Chinese …

Beijing, China | AFP | Chinese Communist chief Xi Jinping’s ascension to the highest title in the party hierarchy formalises his position as its pre-eminent figure, analysts said, making him the country’s most powerful leader in a generation and inviting comparisons with Mao Zedong. The ruling party’s declaration that Xi …