China imposed fines and sanctions against two US defense companies in a further escalation of tensions between the world's two biggest economies.
Lockheed Martin Corporation and a subsidiary of Raytheon Technologies Corp were added to a list of "unreliable entities" due to their participation in arms sales to Taiwan, China's Ministry of Commerce said Thursday.
The companies were fined twice the contract value of their arms sales to Taiwan since September 2020 when the list first came into effect and would be required to pay within 15 days, according to the statement.
China considers the democratically self-ruled Taiwan as part of its territory and has long complained about the US supplying weapons to the island.
This story is from the February 17, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 17, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
TCS Q3 Net Profit Jumps 12%, Misses Estimates
IT behemoth's revenue swells 5.6%; North America remains a drag
Cope with volatility, benefit from rate cuts
Volatility in the capital markets continues to pose a challenge to equity investors.
Weak 02C biz may drag earnings for RIL again
Company's Ebitda may remain flat or decline marginally, say analysts
Arpu gains, dividend likely to be triggers for Bharti Airtel
The telecom industry may be moving into a new phase.
Adani Group to Raise ₹7,148 Cr From Stake Sale in Wilmar JV
The Adani group will raise ₹7,148 crore from sale of up to 20 per cent stake in FMCG firm Adani Wilmar in the open market as part of its strategy to exit non-core activities to focus on infrastructure business.
₹ ends flat after intraday low of 85.94 against $
The rupee on Thursday slipped to 85.94 against the dollar intraday, a fresh low, before recovering some losses to close the day at 85.86, flat compared to Wednesday's closing.
Sensex, Nifty decline amid FPI selling, Q3 earnings concerns
Indian equity benchmarks declined on Thursday as heavy foreign portfolio investor (FPI) selling and concerns over the December quarter earnings continued to dent sentiment.
MFs Cap Strong 2024 With Robust Dec
Equity mutual funds (MF) capped a strong 2024 with near-fresh-high inflows in December.
Fundraising via equity, debt touched fresh high in 2024
Fundraising by Indian corporates through equity and debt reached a fresh high in the calendar year 2024, according to primedatabase.com.
A milestone': Modi unveils genome data of 10K Indians
Prime Minister Narendra Modi on Thursday announced the completion of the Genome India Project, describing it as an \"important milestone in the biotechnology revolution\" in the country, and unveiled the sequencing database of 10,000 Indians.
