• The GCC Financial Forum 2019
China set to seek trade sanctions against US

China set to seek trade sanctions against US

Geneva : China is planning to ask the World Trade Organization next week for permission to impose sanctions on the United States over anti-dumping practices taken against some Chinese products. The WTO said yesterday that a special meeting of its Dispute Settlement Body would be convened on September 21 to discuss developments in a five-year-old trade dispute between the world’s top two economies.

The case dates back to December 2013, when China filed a dispute against the United States, taking issue with the way Washington assesses whether exports have been “dumped” at unfairly low prices onto the US market. The use of anti-dumping duties are permitted under international trade rules as long as they adhere to strict conditions, and disputes over their use are often brought before the WTO’s Dispute Settlement Body. In this specific case, China alleged that the United States, in violation of WTO rules, was continuing a practice known as “zeroing”, which calculates the price of imports compared to the normal value in the United States to determine predatory pricing. 

In October 2016, a panel of WTO experts found largely in China’s favour in the case, including on the issue of “zeroing”. The United States, which has repeatedly lost cases before the WTO over its calculation method, said in June last year that it would implement the panel’s recommendations within a “reasonable” time frame. This past January, the DSB set an August 22 deadline for Washington to bring its practices in line with the 2016 ruling.




Prickly pears

Prickly pears

For generations Algerians like the Gueldasmi family have barely eked out a living growing prickly pear fruits, but thanks to the cactus’s new found virtues their lives are steadily improving. “Now, my future is here. There

Crude hits 2019 high above $65

Crude hits 2019 high above $65

Brent crude oil climbed above $65 a barrel to its highest this year as OPECled supply cuts and this week’s announcement of a higher than expected cut by Saudi Arabia encouraged investors. The international oil benchmark reached $


Archaeologists discover Incan tomb

Archaeologists discover Incan tomb

Peruvian archaeologists discovered an Incan tomb in the north of the country where an elite member of the pre-Columbian empire was buried, one of the investigators announced Friday. The discovery was made on the Mata Indio dig site in the northern Lambayeque region, archaeologist Luis Chero told

India mourns dead soldiers

India mourns dead soldiers

Thousands of mourners across India attended funerals yesterday for some of the 41 soldiers killed in a suicide bombing in Indian-administered Kashmir as a round-the-clock curfew remained in force in part of the restive region. The paramilitary troops were killed on Thursday as explosives packed i

Disarmament must include China: Merkel

Disarmament must include China: Merkel

China must be involved in international disarmament efforts, German Chancellor Angela Merkel said yesterday, amid rising concern about Beijing’s missile arsenal and the suspension of a key US-Russia arms treaty. “Disarmament is something that concerns us all and where we would

GAA gets nod to purchase new full flight simulator

GAA gets nod to purchase new full flight simulator

The Gulf Aviation Academy (GAA) Board of Directors approved ambitious expansion plans for 2019 during a regular meeting chaired by the Minister of Transportation and Telecommunications and GAA Chairman, Kamal Ahmed. The plans include purchasing a fourth Airbus A320 Full Flight Simulator (FFS) and

Workshop focuses on VAT challenges for SMEs

Workshop focuses on VAT challenges for SMEs

Adopting proper VAT procedures can take up to four months while careful planning will help SMEs avoid common pitfalls, VAT experts observed. This came as Tamkeen held a workshop titled ‘The Roll-out of VAT in Bahrain’. The event, co-hosted by Tamkeen and Sage, with participati

Broadening tourism horizons

Broadening tourism horizons

In line with its efforts to attract tourists from across the world to the Kingdom, the Bahrain Tourism and Exhibitions Authority (BTEA) officially inaugurated its latest representative office in Kuwait, which was announced during a press conference held at the Four Seasons Hotel, Kuwait.

Bahrain attends Munich Security Conference

Bahrain attends Munich Security Conference

The Ambassador of the Kingdom, Abdulla Abdullatif Abdullah, chaired the Kingdom’s delegation participating in the 55th Munich Security Conference (MSC), held in Munich from February 15 to17, with the participation of a number of heads of states and governments as well as foreign and de

Sinai blast condemned

Sinai blast condemned

Bahrain yesterday condemned the terrorist attack that targeted a security checkpoint in North Sinai, Egypt, which resulted in the martyrdom and injury of a number of security officers. The Ministry of Foreign Affairs expressed its sincere condolences to the families of the victims and wished the

IS on brink of defeat

IS on brink of defeat

A US-backed force in Syria is closing in on Daesh militants in a tiny area less than a square kilometer (square mile) in eastern Syria, and will soon declare the defeat of the militant group, a commander with the group said Saturday. The capture of the last pocket still held by Daesh figh

Rita Ora among £3.4m fraud victims

Rita Ora among £3.4m fraud victims

An accountant has admitted defrauding high-profile clients, including pop star Rita Ora, out of about £3.4m. Andrew Munday, 37, targeted the former X Factor judge and others, using the money from the fraud to buy houses. His offe

Katy Perry, Orlando Bloom engaged

Katy Perry, Orlando Bloom engaged

Singer Katy Perry says she got engaged to actor Orlando Bloom on Valentine’s Day this year, following a three-year on-off romance. The “Part of me” hitmaker on Friday took to Instagram to share the news, reports daily