The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
DUBLIN, May 1 (Reuters) - Ireland appointed New Zealand treasury chief Gabriel Makhlouf as its new central bank governor on Wednesday, replacing Philip Lane who leaves next month to join the European Central Bank's executive board, the finance ministry said.
A former top UK civil servant, Makhlouf served as principal private secretary to then British finance minister Gordon Brown before being appointed secretary to the New Zealand treasury in 2011, where he has also been chief economic and financial advisor to the government.
Makhlouf will sit on the governing council of the ECB as part of the new role, the first time Ireland will have two rate setters.
He will take up the position on Sept. 1 and it will be up to the Central Bank Commission - which manages the activities of the bank - to appoint a temporary governor for the three-month period after Lane's departure, the finance ministry said in a statement.
Makhlouf becomes the first non-Irish national to lead the bank after emerging from a shortlist that included one of Lane's two deputies, Sharon Donnery, who narrowly lost out in the race to head the ECB's supervisory arm last year.
Makhlouf takes on an economy that has been the best performing in Europe since 2014 but may face a risk of either overheating or another major challenge if neighbouring Britain ended up leaving the European Union without a deal to smooth the transition.
The central bank's supervisory capabilities will also be tested during his seven-year term after more than 100 financial services firms applied to the bank to set up or extend operations in Ireland as a result of Brexit. (Reporting by Padraic Halpin and Carmel Crimmins Editing by Catherine Evans and Frances Kerry)