Apple Inc and its main contract manufacturing Foxconn agreed to tackle violations of conditions among the 1.2 million workers assembling iPhones and iPads in a landmark decision that could change the way Western companies do business in China. Taiwan's Foxconn Technology Group, whose subsidiary Hon Hai Precision Industry assembles Apple devices in factories in [...]
China said Friday that rebels fighting in Syria had to commit to talks and stop attacks they have been carrying out, mirroring demands from embattled Syrian President Bashar Assad. A peace plan put forward by U.N. envoy Kofi Annan includes a call for a full cease-fire, but Assad’s condition that there be an express [...]
Iran and its leading oil buyers, China and India, are finding ways to skirt U.S. and European Union financial sanctions on the Islamic republic by agreeing to trade oil for local currencies and goods including wheat, soybean meal and consumer products. India, the second-biggest importer of Iran's oil, has set up a rupee account [...]
China's cabinet has agreed to temporarily lower import duties on energy and raw materials and boost financing for importers in key sectors to help reduce the country's trade surplus and ease trade frictions. The State Council said in a statement posted on the government's website Friday it would encourage policy banks to provide financing [...]
Asia's major stock markets were mostly lower Friday as nervous investors turned their focus to China after digesting a report showing a slowdown in Japanese industrial production. European shares, though, headed higher. Benchmark oil hovered around $103 per barrel after diving the day before to a six-week low. The dollar fell against the euro [...]
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