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Business

Tag: China

Tech

Chinese supercomputer tops global rankings for first time since 2017

A newly unveiled supercomputer in China has overtaken its American rivals to become the world’s most powerful computing system, marking the first time since 2017 that a Chinese machine has claimed the top spot in the global Top500 rankings, a benchmark often regarded as a measure of national technological strength. Known as LineShine and located […]

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China imposes new trade restrictions on dozens of US firms

China has introduced new trade restrictions targeting dozens of U.S. firms, in response to Washington’s latest move to expand a Pentagon blacklist of companies accused of supporting China’s military. On Monday, China’s Ministry of Commerce added 10 American industrial suppliers to its export control list. The firms include rare earth producers MP Materials Corp and […]

Policy and Regulations

US blacklists Alibaba, Baidu over alleged military links to China

The United States issued an updated list on Monday of Chinese companies that it believes are aiding the country’s military — including e-commerce giant Alibaba, search engine provider Baidu and electric vehicle maker BYD. The United States Defense Department unveiled the designations just weeks after President Donald Trump met Chinese leader Xi Jinping in Beijing, […]

Business

China cracks down on ‘ghost kitchens’ amid food safety concerns

China has introduced new rules requiring food delivery platforms to verify the licences and physical addresses of restaurants, as regulators move to clamp down on thousands of “ghost kitchens” linked to growing food safety concerns. “Ghost kitchens” are takeaway-only food vendors listed on delivery apps that operate without a physical storefront. Many have recently come […]

featured Oil and Gas

Chinese firms to gain 51% stake in PH, Warri refineries

The Nigerian National Petroleum Company Limited is considering an NLNG-style equity partnership that could hand Chinese investors a majority stake of about 51 per cent in the Port Harcourt and Warri refineries as part of a broader plan to rehabilitate and commercially reposition the facilities. Details of the arrangement emerged after NNPC signed a Memorandum […]

Opinion

NECA queries NNPC refinery deal with chinese firms

The Nigeria Employers’ Consultative Association has raised serious concerns over the recent Memorandum of Understanding signed between the Nigerian National Petroleum Company Limited and Chinese firms for the “restart, completion and expansion” of the Port Harcourt and Warri refineries. It also warned that Nigeria could not afford another failed refinery rehabilitation project. Vanguard reported that […]

featured Opinion

Atiku faults NNPCL, China deal on Port Harcourt refineries

Former Vice President Atiku Abubakar has urged the Federal Government to halt the Nigerian National Petroleum Company Limited’s refinery partnership arrangement with two Chinese firms, describing the deal as lacking transparency and raising concerns over the technical capacity of the companies involved. In a statement released on Friday through his Senior Special Assistant on Public […]

featured Oil and Gas

NNPCL signs MoU with Chinese firms to revive refineries

The Nigerian National Petroleum Company Limited has signed a Memorandum of Understanding with two Chinese firms for the restart, operation and expansion of the Warri and Port Harcourt refineries. Vanguard reported that in a statement on Monday, NNPC’s Chief Corporate Communications Officer, Andy Odey, said the agreement was signed with Sanjiang Chemical Company Limited and […]

China increases number of Nigerian-made goods in Chinese market
Policy and Regulations

China extends zero-tariff policy to Nigeria, 52 African countries

China has announced the full implementation of zero-tariff measures for 53 African countries with diplomatic relations with Beijing, including Nigeria, in a move aimed at deepening trade ties and expanding market access for African exports. The policy, which took effect on May 1, marks a significant step in China’s broader strategy to strengthen economic cooperation […]

Oil and Gas

China denies US claim over seized Iran-bound vessel

China on Wednesday firmly denied claims that a vessel intercepted by the United States was carrying a “gift” from Beijing to Iran, pushing back against allegations made by United States President Donald Trump a day earlier. Trump had alleged that an Iranian-flagged ship seized by US forces in the Gulf of Oman on Sunday contained […]

Opinion

China slams US Hormuz blockade as ‘dangerous, irresponsible’

China accused the United States on Tuesday of “dangerous and irresponsible” behaviour over its blockade of Iranian ports, with President Xi Jinping vowing Beijing would play a “constructive role” in promoting peace in the Middle East. US President Donald Trump has threatened to sink ships entering or leaving Iranian ports and coastal areas in the […]

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