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Coronavirus
VERY HIGH
Pakistan Deaths
15,982 ▲
11024hr
Pakistan Cases
745,182 ▲
536424hr
Sindh
270,963
Punjab
261,173
Balochistan
20,662
Islamabad
68,665
KPK
103,419
Business Recorder Logo
Apr 17, 2021 PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

China

Chinese regulators fine Alibaba $2.78 billion over monopolistic market abuse
China

Chinese regulators fine Alibaba $2.78 billion over monopolistic market abuse

  • Regulators in China have punished e-commerce giant Alibaba with a massive $2.78 billion (18.2 billion yuan) fine over practices deemed to be an abuse of the company's dominant (and monopolistic) market position.
  • Alibaba in particular has remained under scrutiny since last year, when co-founder Jack Ma criticised Chinese regulators as being "behind the times", after the company's financial arm Ant Group was investigated.
Published 10 Apr, 2021 01:24pm
Chinese-linked lenders targeting Indian working class, earning billions
China

Chinese-linked lenders targeting Indian working class, earning billions

  • Indian authorities believe that a new breed of lender, with ties to China, has been preying on the working-class and rural populace in the country, especially those who have been impacted by the pandemic.
  • The police in Hyderabad have tracked approximately $3 billion in transactions.
Updated 29 Mar, 2021 04:01pm
U.S-China relations hit stalemate, and "Quad" rallies to exert pressure
China

U.S-China relations hit stalemate, and "Quad" rallies to exert pressure

  • While the Biden Administration is taking a similar approach to dealing with China as their predecessors, the nature of their confrontation is different, as a quick reset on U.S-China relations looks increasingly unlikely.
  • The Biden Administration has banded together with major allies across the region to stifle China's influence, with the "Quad" including Australia, India, Japan and the United States.
Updated 26 Mar, 2021 01:25pm
Blinken warns China against 'coercion and aggression' on first Asia trip
China

Blinken warns China against 'coercion and aggression' on first Asia trip

  • U.S. Secretary of State Antony Blinken warned China on Tuesday against using “coercion and aggression” as he sought to use his first trip abroad to shore up Asian alliances in the face of growing assertiveness by Beijing.
  • China’s extensive territorial claims in the East and South China Seas have become a priority issue in an increasingly testy Sino-U.S. relationship and are an important security concern for Japan.
Published 16 Mar, 2021 05:16pm
In China strategy, Biden to meet with leaders of Australia, India, Japan
China

In China strategy, Biden to meet with leaders of Australia, India, Japan

  • U.S. President Joe Biden will meet on Friday with the leaders of Australia, India and Japan, a group central to his efforts to counter China’s growing military and economic power.
  • India and Australia have emphasized the importance of regional security cooperation, which has been boosted by previous lower-level meetings of the four countries.
Published 12 Mar, 2021 06:47pm
Top U.S., China diplomats to hold first in-person talks of Biden presidency
China

Top U.S., China diplomats to hold first in-person talks of Biden presidency

  • U.S. Secretary of State Antony Blinken will meet with top Chinese officials on March 18 in Alaska, the White House said on Wednesday, the first high-level in-person contact between the two sparring countries under the Biden administration.
  • President Joe Biden’s administration has committed to reviewing elements of U.S. policies toward China, as the world’s two largest economies navigate frosty relations that sank to their lowest depths in decades during Donald Trump’s presidency.
Updated 11 Mar, 2021 12:29pm
President Biden to focus on COVID-19, China, at his first G7 summit
China

President Biden to focus on COVID-19, China, at his first G7 summit

  • In his upcoming meeting with world leaders from the G-7, President Joe Biden plans to focus on the global response to the pandemic, according to the White House Press Secretary Jen Psaki on Thursday.
  • The Trump Administration held a volatile relationship with China, placing tariffs on Chinese goods and blocking supplies to Chinese telecommunications companies; while Biden as repeatedly taken aim at China for its treatment of the minority Uyghur community.
Updated 19 Feb, 2021 01:26pm
Jack Ma's Ant IPO blocked by Chinese government, after probe revealed political beneficiaries
China

Jack Ma's Ant IPO blocked by Chinese government, after probe revealed political beneficiaries

  • Last year, Chinese premier Xi Jinping blocked Ant Group's initial public offering, as it was speculated that the decision was based on Jack Ma's public criticism of Jinping's financial oversight campaign, and that it could add risk to the financial system.
  • A group of well-connected Chinese power players backed the company; including those linked with political families that pose a potential challenge to Jinping's authority.
Updated 17 Feb, 2021 05:05pm
Russian Vaccine Team to Conduct Combined Trial with Chinese Counterparts
China

Russian Vaccine Team to Conduct Combined Trial with Chinese Counterparts

  • Russian developers are in talks with China's CanSino Biologics Inc., in an effort to test a combined regimen of their shots to better protect against new virus strains.
  • The Russian Direct Investment Fund, a partner in the Sputnik V vaccine program, forged a preliminary agreement with the CanSino and Petrovax Pharm, to reportedly conduct testing in Russia.
Updated 15 Feb, 2021 10:57am
Two U.S. carrier groups conduct exercises in South China Sea
Asia

Two U.S. carrier groups conduct exercises in South China Sea

  • Two U.S. carrier groups conducted joint exercises in the South China Sea on Tuesday, days after a U.S. warship sailed near Chinese-controlled islands in the disputed waters, as China denounced the United States for damaging peace and stability.
  • In Beijing, Chinese Foreign Ministry spokesman Wang Wenbin said the frequent moves by U.S. warships and aircraft into the South China Sea in a “show of force” was not conducive to regional peace and stability.
Updated 09 Feb, 2021 03:43pm
Sinopharm vaccine not suitable for people above 60, pregnant women: SAPM Dr. Faisal Sultan
China

Sinopharm vaccine not suitable for people above 60, pregnant women: SAPM Dr. Faisal Sultan

  • According to the country's top health authorities, the Chinese manufactured Sinopharm vaccine is not suitable and recommended for people above the age of 60, under the age of 18, and specifically for pregnant women - among others.
  • According to Dr. Faisal Sultan, Special Assistant to the Prime Minister, people above 60 would be vaccinated with Oxford-AstraZeneca’s vaccine AZD1222, which is due for arrival in Pakistan in February.
Published 04 Feb, 2021 01:57pm
WHO team probing COVID-19 visits Wuhan lab, meets 'Bat Woman'
China

WHO team probing COVID-19 visits Wuhan lab, meets 'Bat Woman'

  • A team of investigators led by the World Health Organization visited a virus research laboratory in China’s central city of Wuhan and met with a prominent virologist there in its search for clues to the origins of the COVID-19 pandemic.
  • The experts spent about 3-1/2 hours at the heavily-guarded Wuhan Institute of Virology, which has been at the centre of some conspiracy theories that claim a laboratory leak caused the city’s first coronavirus outbreak at the end of 2019.
Published 03 Feb, 2021 07:34pm
China launches second stealth warship for Pakistan Navy
China

China launches second stealth warship for Pakistan Navy

  • China has launched a second advanced warship - the Type-054 Class Frigate - for Pakistan on Saturday, according to a statement from the Pakistan Navy.
  • The warship, constructed by China, is the country's most advanced frigate.
Updated 30 Jan, 2021 05:07pm
WHO team probing coronavirus origins in China's Wuhan leaves quarantine
China

WHO team probing coronavirus origins in China's Wuhan leaves quarantine

  • A World Health Organization-led team investigating the origins of the deadly COVID-19 pandemic left a quarantine hotel in Wuhan on Thursday to begin field work, two weeks after arriving in the Chinese city where the virus emerged in late 2019.
  • The mission has been plagued by delays, concerns over access and bickering between China and the United States, which has accused Beijing of hiding the extent of the initial outbreak and has criticised the terms of the visit.
Updated 28 Jan, 2021 02:29pm
India makes ban on TikTok and 58 other Chinese apps permanent
China

India makes ban on TikTok and 58 other Chinese apps permanent

  • India's Ministry of Electronics and Information Technology has issued fresh notices to make permanent a ban imposed on TikTok and 58 other Chinese applications.
  • The Ministry, in its decision in June, stated that these applications were "prejudicial to sovereignty and integrity of India, defence of India, security of state and public order”.
Updated 26 Jan, 2021 12:24pm