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Provoking Trade Disputes Is A Naked Economic Terrorism, Says A Senior Chinese Diplomat

New Delhi: Trade tensions between Washington and Beijing escalated sharply earlier this month after the Trump administration accused China of having “reneged” on its previous promises to make structural changes to its economic practices. Provoking trade disputes is “naked economic terrorism”, a senior Chinese diplomat said on Thursday, ramping up the rhetoric against the United States amid a bitter trade war that is showing no signs of ending soon.

Washington later slapped additional tariffs of up to 25% on $200 billion of Chinese goods, prompting Beijing to retaliate.

Speaking to reporters in Beijing, Chinese Vice Foreign Minister Zhang Hanhui said China opposed the use of “big sticks” like trade sanctions, tariffs and protectionism.

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Latest Exchanges Between Beijing And Washington Signal Heightened Risk Of A Prolonged Trade War

New Delhi: Asian stocks tracked Wall Street losses as latest exchanges between Beijing and Washington signalled the heightened risk of a prolonged trade war, stoking investors’ concerns about the impact on global economic growth.

“This kind of deliberately provoking trade disputes is naked economic terrorism, economic homicide, economic bullying,” China’s Vice Foreign Minster Zhang Hanhui said, as Beijing continued to dial up its rhetoric amid the festering trade war with the United States.

His comments came after Chinese newspapers reported that Beijing could use rare earths to strike back at Washington after US President Donald Trump remarked he was “not yet ready” to make a deal with China over trade.

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Highest-Paid Corporate Executives Sundar Pichai Faces The Opposite Reality: No Big Paychecks

New Delhi: Sundar Pichai was, for years, one of the world’s highest-paid corporate executives. Now he’s facing the opposite reality: No big paychecks at all. The Google chief executive officer hasn’t received an equity award in more than two years. A key reason is that Pichai turned down a big new grant of restricted stock in 2018 because he felt he was already paid generously.

It’s unclear how much he passed up. But another giant payday -- on top of hundreds of millions of dollars in previous awards -- could have sparked a new round of controversy for the mild-mannered executive.

Technology companies are being increasingly blamed for all sorts of societal ills -- including rising income equality. Pichai, given the top job in 2015 for his engineering prowess, has had to address these concerns, while juggling a host of other politically charged issues.

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RBI Issues Draft Guidelines On Liquidity Management For The Non-Banking Finance Companies

New Delhi: The Reserve Bank of India (RBI) has issued draft guidelines on liquidity management for the Non-Banking Finance Companies (NBFCS) and proposed a liquidity coverage ratio for large NBFCS covering all deposit-taking NBFCS and non-deposit taking NBFCS with an asset size of ₹5,000 crore and above. Here is a look at what it means and how it will impact you:

The key takeaway from the draft guidelines are that a bank-like liquidity coverage ratio (LCR) for NBFCS to be put in place, granular management of asset liability mismatch and board-led liquidity policies or monitoring. “The guidelines require NBFCS to hold adequate level of high quality liquid assets (to cover the estimated net cash outflows in case of a severe liquidity stress scenario over the next 30 calendar days).

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Stock Markets Continue Rally In View Of The Decisive Mandate For Narendra Modi

New Delhi: As investors continued to cheer the decisive mandate for the Narendra Modi’s BJP in the national election, domestic equity benchmarks BSE Sensex and NSE Nifty on June 27 closed at another record high.

After rallying nearly 400 points, the 30-share index ended 248.57 points, or 0.63 per cent, higher at 39,683.29 -- its all-time closing high. The gauge hit an intra-day high of 39,821.94 and a low of 39,353.16.

Likewise, the broader NSE Nifty jumped 80.65 points, or 0.68 per cent, to 11,924.75 -- a closing peak for the index. During the day, the bourse hit a high of 11,957.15 and a low of 11,812.40.