India can explore $82 bn export potential in 20 products in China: Report

India can explore an annual $82-billion export potential in twenty products, including electrical equipment and ferro alloys, in the world’s second largest economy China, according to a report. Indian exporters have a competitive advantage as far as these twenty goods are concerned. Currently, India meets only 3.3 per cent or $2.7 billion of the total annual import demands of $82 billion for these 20 products in China. India’s exports of these 20 products are worth around $15 billion to the world, which is 4.5 per cent of the country’s annual…

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China’s ZTE Revises 2015 Profit After US Export Curbs

Chinese telecom equipment maker ZTE Corp revised down its 2015 net profit on Wednesday due to export curbs imposed by the US Commerce Department for alleged violations of sanctions against Iran. Shenzhen-based ZTE said its 2015 net profit rose 22 percent to CNY 3.2 billion ($493.3 million or roughly Rs. 3,277 crores). On January 19, the company reported a preliminary 2015 net profit of CNY 3.8 billion. ZTE said in a stock exchange filing the reduction was due to a reassessment of future cash inflows arising from related contracts following…

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China’s ZTE Said to Appeal US Export Ban After Lobby Efforts Fail

China’s ZTE Corp will appeal tough US export restrictions imposed last week, according to a person familiar with the matter, after the telecom equipment maker’s costly lobbying effort failed to allay concerns about its business. The US Commerce Department imposed restrictions on US suppliers providing crucial components to ZTE for alleged Iran sanctions violations, a move likely to disrupt its global supply chain. “The US Department of Commerce and ZTE Corp are in ongoing discussions,” a senior Commerce Department official told Reuters. “These discussions have been constructive, and we will…

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