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US tariffs on $34 billion in Chinese
imports took effect as a deadline passed on Friday, and with Beijing having
vowed to respond immediately in kind, the world's two biggest economies took a
high-stakes turn towards all-out trade conflict.China's commerce ministry said
in a statement shortly after the deadline passed that it was forced to
retaliate, meaning $34 billion worth of imported US goods including autos and
agricultural products also faced 25 percent tariffs."China promised to not
fire the first shot, but to defend national core interests and the interests of
the people it has no choice but to strike back as necessary," the Commerce
Ministry said in a statement. For 2 days free trail click here:CapitalHeight.
Punjab National Bank (PNB) has
put on sale three non-performing assets to recover Rs 1.36 billion dues from
the borrowers. "We intend to place these accounts for sale to ARCs/
NBFCs/other banks/FIs on the terms and conditions stipulated in the bank's
policy, in line with the regulatory guidelines," PNB said in the invite
for expression. The three non-performing accounts (NPAs) or bad loans that have
been put on sale are Gwalior Jhansi Expressways with an outstanding of Rs 550
million; SVS Buildcon Pvt Ltd Rs 500 million and Shiva Texfabs Ltd Rs 310.6
million.
Blockbuster deals
in Japan and India helped push acquisition volumes in Asia
Pacific to a record high during the first half, even as
Chinese companies faced government pressure to curb overseas ambitions.
Asia-Pacific companies were involved in $734 billion of
announced mergers and acquisitions in the first six months of this
year, according to data compiled by Bloomberg. That’s a greater value than any
comparable period on record and a 38 per cent increase from the same period a
year ago. China’s government said in February it was restricting outbound
investment in sectors such as property, hotels.
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