Day: August 7, 2020

(Xinhua)14:29, August 07, 2019

SAN FRANCISCO, Aug. 6 — Apple sent out invitations on Tuesday to some select users to apply for its credit card released in partnership with investment bank Goldman Sachs.

The users who got the chance to first try the Apple Card had filled out a Notify Me form on the Apple website, while other U.S. customers have to wait till later this month when the credit card will be fully launched.

An iPhone has to be updated to iOS 12.4 or later to sign up for the credit card.

According to a how-to video released by the tech giant, it takes just minutes to apply for the card: simply open the Wallet app on ones iPhone, tap the add sign on the top right corner, choose Apple Card, fill our some basic information and click the accept button. Bingo, an Apple Card is added to your iPhone e-wallet.

On its face, the Apple Card behaves a lot like Apple Pay, the mobile payment system the company introduced four years ago, tech news website Wired reported.

The virtual card lives inside the Apple Wallet and functions as contactless payment system, Wired said. However, customers can also request a physical titanium card.

Apple claimed on its website that their credit card gives its customers a new level of privacy and security as all the advanced security technologies of Apple Pay, such as Face ID or Touch ID, are built right in the device.

In addition, the physical card doesnt bear any numbers on it so its unlikely to be stolen.

On top of that, Apple said it never sees information about users transactions. All the transaction history and spending summaries are generated solely in the Wallet app on the customers iPhone.

However, Goldman Sachs, the issuing bank, will use customers data to approve purchases and check for things like fraud.

According to business news channel CNBC, the credit card is part of Apples broader push to expand its services business from its 1.4 billion active Apple devices.

Meanwhile it offers Goldman Sachs an opportunity to expand its reach into retail banking as this is the banks first consumer credit card aside from its vast institutional client services, CNBC added.

Last week, Apple disclosed a record quarterly revenue of 53.8 billion U.S. dollars for the third quarter ended on June 30.

This was our biggest June quarter ever – driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends, said Apple CEO Tim Cook in a press release.

(China Daily)08:46, August 06, 2019

Hong Kong’s Chief Executive Carrie Lam Cheng Yuetngor speaks at a news conference in Hong Kong on Monday. Lam said recent chaos has pushed the city to the “verge of a dangerous situation”, but the government will be resolute in ensuring public order. CHINA DAILY

Carrie Lam Cheng Yuet-ngor, Hong Kongs chief executive, said on Monday that protesters sustained acts of disruption are pushing our city, the city we all love and many helped to build, to the verge of a dangerous situation.

Lam, speaking at a news conference, pledged resolute action to maintain law and order and restore confidence. She said the protests have gone beyond the issue of a now-shelved extradition amendment bill and now are aimed at destabilizing the special administrative region at the cost of the stability of 7 million residents lives and futures.

Mondays problems were caused by direct disruption by protesters as well as a general strike in the city.

Lam said the protesters actions are a blatant provocation to national sovereignty and challenge the one country, two systems principle.

We all love Hong Kong and have made different contributions to its stability and prosperity over the years. This is the time for us to rally together to set aside differences and bring back order, and say no to chaos and violence, she said.

It will take time for Hong Kong to restore what has been done to its economy, livelihood and the entirety of society, she added.

Financial Secretary Paul Chan Mo-po, speaking to reporters, warned that Hong Kongs economy is in great danger from China-US trade tension, the global economic slowdown and many international variables. Locally, many businesses have been affected. Economic growth was negative in the second quarter, and if things stay the same in the third quarter, Hong Kong will fall into a recession, Chan cautioned.

On Monday, Hua Chunying, a spokeswoman for the Foreign Ministry, said in a statement that violent acts by radical protesters in Hong Kong have gone beyond the bottom line of a civilized society and endangered the lives of the citys residents as well as their properties.

Some in the United States ignore such problems as abuse of power by its police officers but arrogantly criticize and smear Hong Kong police officers who perform their duties in a constrained and civilized manner in the face of violent protesters, Hua said. Some US politicians reveal a double standard through their hypocrisy and arrogance, she said.

The ministry again urges the US to stop interfering in the affairs of Chinas Hong Kong Special Administrative Region and sabotaging the SAR governments operation that is based on rule of law, Hua said.

In a statement issued at around 7 pm on Monday, Tung Chee-hwa, vice-chairman of the Chinese Peoples Political Consultative Conference National Committee, threw his support behind the SAR government and police for doing whats necessary to safeguard the rule of law and bring back peace and order.

Tung said many residents, facing the risk of being harassed and insulted by rioters, went to work as usual to safeguard Hong Kongs core value by actions.

Tung said that the nations sovereignty must not be infringed upon, adding that the rioters ulterior motive is to take control of the SAR and threaten the central government by taking the public, the citys traffic and social order hostage. That, he said, will not succeed.

Despite strong criticism, demonstrators planned to go ahead with more protests. Mondays protests left commuters struggling to get to work during the rush hour.

By noon, changes or suspensions had been forced on 70 bus routes after 15 roads and three tunnels were blocked, Transport Department officials said at a separate media briefing on Monday afternoon. Some 100 traffic lights were vandalized and services were gradually being restored, causing confusion and danger to pedestrians and vehicles.

Some protesters placed trolleys and bikes on subway tracks and used gasoline bombs that could cause serious damage and injuries, officials said.

On Monday, police officials said 420 people had been arrested in relation to the protests since June. Monday alone saw 47 men and 35 women arrested on offenses including participating in an unlawful assembly and possession of offensive weapons. In addition, since June, 139 police officers have been injured, with two still hospitalized.

The personal data of over 1,200 police officers and their families has been leaked. Hate speech and messages against officers, some cursing their children, have been circulated online, officials said.

By CurtisStone (Peoples Daily Online)17:12, August 06, 2019

Recently, the United States threatened to impose a new 10 percent tariff on $300 billion worth of Chinese exports to the United States, violating the consensus reached by the two heads of state at the G20 Summit in Osaka and the understanding that there would be no new tariffs. The US decision to escalate trade tensions was grade-A dumb and sends a message that the United States cannot be trusted.

The sudden escalation flies in the face of the interests of the Chinese and American peoples and has forced China to hit back. Chinese companies have suspended purchases of US agricultural products and more countermeasures may be in the works. It is a rational response to an irrational move by the United States and should come as no surprise, as China has repeatedly said that it does not want to fight but is not afraid to fight and will fight if necessary.

China has been sincere in its efforts to overcome differences between the two sides. In July, some 2.27 million tons of US soybeans were shipped to China and another 2 million tons are expected in August, followed by another 300,000 tons in September. Unlike the US side, China has followed through on its end of the bargain to ease the tensions.

The suspension of US soybean and other agricultural product purchases by Chinese companies are costing US farmers billions of dollars. It is a response and the 鈥渇air treatment鈥?that US side should have expected.

Repeated failure to keep its word is also costing the United States in terms of credibility and reputation, and is sending a message that the world can no longer rely on the United States.

Some people in the United States do not hide their obsession with 鈥渨inning鈥?at all costs and have no respect for international rules and the international system. They fear the United States is losing its hegemonic position. But their actions are damaging the US image and have exposed an apparent crisis of confidence in Washington.

Trump鈥檚 new tariff threat shows that the United States is playing tricks in an attempt to undermine China鈥檚 development. It is nothing short of a power grab, but China will not just sit idly by and do nothing. To think otherwise is wishful thinking.

The Chinese economy is resilient enough to withstand the fight and China is confident it can remain strong in the face of US bullying. The facts are China has a strong political system, its people is unified, and its domestic market is expanding at an impressive rate.

A dark cloud has once again formed over the China-US relationship. This mess was started by the US side. Now, the ball is in America鈥檚 court. It can continue to fight with China, or it can resume trade talks on the basis of equality and mutual respect.

(Xinhua)11:13, August 06, 2019

SEOUL, Aug. 6 (Xinhua) — The Democratic Peoples Republic of Korea (DPRK) fired two short-range projectiles into its eastern waters early Tuesday, the fourth such launch in less than two weeks, South Koreas Joint Chiefs of Staff (JCS) said.

The projectiles, presumed to have been short-range ballistic missiles, were launched at 5:24 a.m. and 5:36 a.m. local time each near the DPRKs southwestern county of Kwail in South Hwanghae province, the JCS said in a statement.

Both traveled eastward about 450 km at an altitude of some 37 km. The projectiles flew across the Korean Peninsula, before splashing into the eastern waters. Their maximum speed was more than Mach 6.9.

The intelligence authorities of South Korea and the United States saw the projectiles bear the similar flight features to the short-range ballistic missiles the DPRK fired off on July 25, according to the JCS.

The exact type of the projectiles was under analysis, the JCS added.

The JCS said the South Korean military was maintaining defense posture and closely monitoring relevant situations in preparation for an additional launch.

Chung Eui-yong, top national security adviser for South Korean President Moon Jae-in, convened an emergency meeting with the intelligence agency chief and the defense minister, according to the presidential Blue House.

The DPRKs projectile firings came a day after South Korea and the United States began their joint annual military drills despite Pyongyangs strong opposition to it.

The South Korea-U.S. computer-simulated command post exercise (CPX) was forecast to last for about three weeks.

Following the test-launch of short-range projectiles on July 25, the DPRK sent warnings against the planned South Korea-U.S. military exercises and Seouls adoption of the U.S.-made stealth fighter jets.

Since then, Pyongyang fired off six more short-range projectiles, including the two launched earlier in the day.

(Xinhua)15:47, August 06, 2019

SEOUL, Aug. 6 (Xinhua) — South Koreas finance ministry said Tuesday that it will take necessary steps if volatility in the financial market deepens, indicating a possible intervention in the foreign exchange market.

Bang Ki-sun, deputy minister of economy and finance, told in an emergency meeting with relevant officials that if the market volatility excessively expands, the government will take market-stabilizing measures rapidly and boldly under the prepared contingency plan.

He noted that the government will closely monitor market situations, vowing to actively tackle excessive instabilities in the financial market.

His comments came after the won/dollar exchange rate jumped to the highest in more than three years on Monday, amid rising worry about the global trade dispute and a trade row between South Korea and Japan.

Japan removed South Korea last week from its whitelist of trusted trading partners that are given preferential export procedures, after tightening regulations in early July on its exports to South Korea of three materials vital to produce memory chips and display panels.

The South Korean currency opened at 1,220.0 won per dollar Tuesday, down 4.7 won from the prior close. The local currency trimmed earlier losses versus the greenback following the comment from the deputy finance minister.

The benchmark Kospi index declined more than 2 percent in the early trading, but also pared initial losses. The index retreated 2.56 percent on Monday.

Bangs comments were seen as an indication of the governments possible intervention in the currency market. The countrys financial authorities sold 187 million U.S. dollars in the FX market in the second half of last year to stabilize the market, according to the Bank of Korea (BOK) data.

The deputy minister said global credit rating companies and foreign investors highly regarded the fundamental and the external soundness of the South Korean economy.

The South Korean government issued 1.5 billion U.S. dollars of sovereign bond in June, and Moodys kept its rating on South Korea at Aa2, the third-highest level on the Moodys sovereign rating table, with a stable rating outlook in July, the deputy minister added.

South Koreas foreign currency reserves reached 403.1 billion U.S. dollars as of end-July, marking the worlds ninth-biggest foreign reserves holder.

Premium on credit default swap (CDS), which gauges the sovereign default risk of the South Korean economy, was 33.31 basis points on Monday, lower than 39.5 basis points tallied at the end of last year.