U.S.-China tariff hike would trigger downturn, trade diversion: U.N The U.S. flag flies at the Port of Los Angeles in Los Angeles, California, U.S. July 16, 2018 – PHOTO: REUTERS GENEVA (REUTERS) - A U.S. plan to hike tariffs on China next month could trigger an economic downturn and let other countries take over about US$200 billion of China’s exports, a study by the U.N. trade and development agency UNCTAD said on Monday. The United States levied additional duties of between 10% and 25% on US$250 billion of Chinese goods last year as punishment for what it called unfair trade practices, and the 10% tariffs are set to climb to 25% unless there is significant headway on a trade deal by March 1. “The implications are going to be massive,” Pamela Coke-Hamilton, head of international trade at UNCTAD, told a news conference. “The implications for the entire international trading system will be significantly negative.” She said the U.S. tariff … [Read more...] about U.S.-China tariff hike would trigger downturn, trade diversion: U.N
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Psy’s ‘Gentleman’ hits 100 mn YouTube views
"Gangnam Style" star Psy's new music video crossed the 100 million views mark on YouTube Wednesday, shattering another record on the video-sharing site since its much-anticipated weekend debut. "Gangnam Style" star Psy (C) performs during his concert "Happening" in Seoul April 13, 2013 The video for "Gentleman", the long-awaited follow-up to the South Korean singer's global hit, has received 105.4 million hits, topping 100 million in record time since it was posted Saturday. The previous record was set by the video of Britain's Got Talent star Susan Boyle singing "I Dreamed A Dream" in the TV show, which received 100 million hits in just over a week in 2009. Psy's latest offering also racked up around 20 million hits in the first 24 hours, smashing the previous record for first-day views of 8.0 million set by Canadian star Justin Bieber's "Boyfriend" video in May 2012. The video shows Psy, wearing his signature sunglasses, dancing at various locations in and around … [Read more...] about Psy’s ‘Gentleman’ hits 100 mn YouTube views
U.S., EU hit Russia with more sanctions despite Ukraine ceasefire
The United States and European Union imposed new sanctions against Russia on Friday, tightening financial measures against Moscow over its intervention in Ukraine despite a week-old ceasefire which has brought calm to the embattled east. President Vladimir Putin called the new sanctions "a bit strange" given the truce, part of a peace deal reached last week between Kiev and pro-Russian rebels. New sanctions from the European Union would limit access by Russian oil companies to funds. Sanctions from the United States hit Russia's biggest bank and an arms maker, and bar U.S. firms from helping five big Russian oil companies explore hard to reach deposits. Washington and Brussels have steadily tightened economic sanctions against Russia since it annexed Ukraine's Crimea peninsula in March. They accuse Moscow of fomenting a rebellion by separatists in Ukraine's east, an area that Putin has named "New Russia", and say Putin escalated the conflict last month by sending thousands of troops … [Read more...] about U.S., EU hit Russia with more sanctions despite Ukraine ceasefire
lionaire investors turn bearish as U.S. stocks hit record highs
Several big-name hedge fund investors soured on U.S. stocks in the second quarter and moved to gold and other bearish bets, failing to anticipate the stock market rally in the current quarter. Noting the recent run-up in the benchmark Standard & Poor's 500 index to fresh record highs while economic growth remains weak and corporate earnings are stagnant - George Soros, Jeffrey Gundlach, Carl Icahn and David Tepper were among billionaire hedge fund investors and money managers who slashed their long equity positions in the second quarter, according to regulatory filings. All three major U.S. stock indexes ended at all-time highs on Monday, extending their record-setting climb of the past few weeks. The trailing price to earnings ratio of the S&P 500 is now at 20, a level at the high end of its historical range. Gundlach, who oversees more than $100 billion at DoubleLine Capital, told Reuters last month, "The artist Christopher Wool has a word painting, 'Sell the house, sell the … [Read more...] about lionaire investors turn bearish as U.S. stocks hit record highs
APEC samples culture’s greatest hits
APEC samples culture’s greatest hits (18-11-2006) Sign o’ the times: A traditional dance of the former Royal Court of Viet Nam was one of the most fanciful pieces at the show. — VNS Photo Doan Tung The country showed off its rich cultural heritage to an international audience at the Art and Culture Exhibition Centre in Ha Noi last night. Vietnamese Heritage Night, part of the APEC art exhibition, aims to promote the image of Viet Nam abroad, organisers said. "It’s an opportunity to honour the country’s cultural heritage," said Dang Van Bai, head of the Ministry of Culture and Information’s Cultural Heritage department, at the opening ceremony last night. He said he hoped international appreciation of Viet Nam’s rich history would help it integrate more fully into the world community following WTO membership. The show, which was broadcast live on VTV 1, opened with an exhibition of lan-su-rong (unicorn-lion-dragon) art to the … [Read more...] about APEC samples culture’s greatest hits