Even as China’s economic engine cools down, it continues to undergo one of the fastest growth rates in the world. A new report from the McKinsey Global Institute takes an in-depth look at the situation, noting China’s engagement in fields such as digital and technology, trade and the environment. [node:read-more:link]
China’s central bank transferred $1 billion to Turkey in June. Beijing’s biggest support package ever for President Erdogan, it was delivered at a critical time (in an election month) and shows that Turkey is making headway in its efforts to diversify sources of foreign investment amid unprecedented tensions with the West. [node:read-more:link]
U.S.-based Chase Bank is forgiving all outstanding debt owed by users of its two Canadian credit cards: the Amazon.ca Rewards Visa and the Marriott Rewards Premier Visa. The bank retired both cards last year but recently sent letters to all customers informing them about wiping all cardholders' debt so the company can complete its exit from the Canadian credit card market. [node:read-more:link]
U.S.-based Chase Bank is forgiving all outstanding debt owed by users of its two Canadian credit cards: the Amazon.ca Rewards Visa and the Marriott Rewards Premier Visa. The bank retired both cards last year but recently sent letters to all customers informing them about wiping all cardholders' debt so the company can complete its exit from the Canadian credit card market. [node:read-more:link]
The federal ethics commissioner has opened an inquiry into the conduct of B.C. Liberal MP Joe Peschisolido, whose former law firm is linked to a secretive 'bare trust' real estate deal that helped an alleged Chinese “drug boss” hide his ownership stake in a $7.8 million condo development. [node:read-more:link]
The United States administration has designated China as a currency manipulator after its central bank devalued the Yuan as the two countries' rrade dispute escalates. The announcement followed on the heels of President Donald Trump’s accusation on social media that China use currency exchange to steal U.S. business and undermine commodity prices. [node:read-more:link]
China’s central bank is rebuffing U.S. claims that it devalued the Yuan in a bid to gain a competitive trade advantage, saying China is “resolutely oppose” to such practices. [node:read-more:link]
As Hong Kong's pro-democracy protests continue to escalate in the former British colony,the commander of its People’s Liberation Army garrison says violence should not be tolerated. Meanwhile, a spokesman for China's Hong Kong and Macau Office said the local government and police were capable"of handling the protests. [node:read-more:link]
Large-scale cyber attacks by North Korea evidently generated as much as $2 billion dollars which may be used to underwrite its weapons programs, according to a report presented to the United Nations North Korean sanctions committee. Among other things, the report cites forced transfers of funds from financial institutions and cryptocurrency exchanges. [node:read-more:link]
China’s central bank has permitted its Yuan to fall below the politically-sensitive level of seven to the U.S. dollar for the first time in 11 years, a possible precursor to a further escalation in the countries’ trade war. It came only a few days after President Donald Trump slapped more tariffs on imports from China. [node:read-more:link]
Elliott Abrams, the U.S. administration’s special representative for Venezuela says Canada and the U.S. want the European Union to impose sanctions on the Nicolás Maduro regime in Venezuela. [node:read-more:link]
Capital One Financial Corp. confirmed July 29 that personal data on some six million Canadian customers – including names, addresses, phone numbers and about one million social insurance numbers – were among those obtained by a hacker. The U.S. Justice Department says a former employee of a Seattle-based technology company has been arrested. Capital One, headquartered in McLean, Va., says it became aware of the hack July 19. [node:read-more:link]
A recent report from the International Financial Action Task Force, originally formed by the G-7 countries in 1989, found Canada lacking in some international standards. [node:read-more:link]
Criminal actors have adopted a converged approach to illicit operations, easily moving across borders and transitioning seamlessly between human trafficking, cybercrime, fraud, and other opportune activities. [node:read-more:link]
If Canada is successful in working with the new Trump administration to achieve mutual security objectives, that could well have positive influence on how economic issues unfold, including cross-border trade. [node:read-more:link]
