American and Hawaiian Airlines have both announced plans to cut international flight connections to China, Reuters reports. American, which announced it will close its Chicago-Shanghai connection, blamed the decision on rising fuel costs and increased competition, which has made the service unsustainable. The airline also ended a route connecting Chicago and Beijing in May. Hawaiian […]
Category: Brief
Malaysia Prime Minister Mahathir Mohamad told reporters in Beijing Tuesday that his government has decided to cancel the China-funded East Coast Rail Link (ECRL) and a natural gas pipeline project for the time being at least, Reuters reports. The projects, which are estimated to be worth around $20 billion, are currently unaffordable for Malaysia, according […]
China’s financial regulators plan to cut reserve requirement rules for commercial banks buying bonds issued by local governments as Beijing looks to jump-start a slew of new infrastructure projects to boost growth, the South China Morning Post reports. Banks are currently required to hold at least 20% of the value of any local government bonds […]
Japan and China are discussing the possibility of restarting a currency swap arrangement between the two country’s central banks and increasing the volume of transfers tenfold, as the Asian powers look to build warmer ties, Reuters reports. The two nations ceased their currency swap arrangement in 2013 during a period of heightened diplomatic tension over […]
Police in the eastern Chinese city of Shaoxing have uncovered a huge data theft incident in which a group of companies stole millions of pieces of user data from 96 technology companies, Caixin reports. The hackers conducted the theft through a company called Ruizhi Huasheng Technology—ostensibly an online advertising company that was listed on the […]