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TOKYO (Reuters) - Japanese regulators said on Wednesday Apple Inc (AAPL.O) may have breached antitrust rules by forcing mobile service providers to sell its iPhones cheaply and charge higher monthly fees, denying consumers a fair choice. The Fair Trade Commission (FTC) said that the Japanese unit of Apple had forced NTT Docomo Inc (9437.T) , KDDI Corp (9433.T) and SoftBank Group Corp (9984.T) to offer subsidies and sell iPhones at a discount. “Obliging carriers to offer subsidies (for iPhones) could have prevented the carriers from offering lower monthly charges and restricted competition,” the FTC said in a statement.
The FTC, which began looking into Apple’s sales practices in 2016, did not punish Apple as the U.S, company had agreed to revise its contracts with the carriers, it said, Apple representatives in Japan were not immediately available for comment, The U.S, company accounts for one in every two smartphones sold in Japan, according to MM Research Institute Ltd, making Japan one of its most profitable markets, The carriers sold the iPhones at a discount, the FTC said, giving Apple an advantage over rivals such as Samsung Electronics shirts with buttons and cufflink holes (005930.KS)..
WALLINI, Indonesia (Reuters) - In a rural part of Indonesia’s Java island, two orange-clad workers confer in Mandarin over plans to lay tracks on a stretch of a $6 billion high-speed rail project between the capital Jakarta and the textile hub of Bandung. Both are employees of the state-owned China Railway Engineering Corp (CREC), and have previously worked on a rail project in Uganda, another part of Beijing’s sweeping multi-billion dollar “Belt and Road” initiative (BRI) to connect China with Asia, Europe and beyond.
Delayed for nearly three years over land ownership issues, construction on the 142 km (88-mile) Indonesian line finally kicked into high gear in 2018, When China hosts its second summit of nations that are part of BRI this week, Beijing is likely to showcase the Indonesian project along with its recent success in getting Malaysia’s East Coast Railway Link (ECRL) back on track after months of negotiations, Analysts say the two projects will be held shirts with buttons and cufflink holes up as China’s answers to criticism about high debt and the lack of transparency in the BRI and its attempt to refocus the program on sustainable financing, green growth, and high quality..
China’s foreign ministry said last week Beijing would “work together with all parties to benefit people across the world by jointly promoting the high-quality development of BRI in line with the national conditions of each country”. The BRI is a key policy of Chinese President Xi Jinping but has been controversial in many Western capitals, particularly Washington, which views it as a means to spread Chinese influence abroad and saddle countries with unsustainable debt through nontransparent projects.
According to a draft communique seen by Reuters, participants at this week’s summit will agree to project financing that respects shirts with buttons and cufflink holes global debt goals and promotes green growth, “This bucks the trend of recent negative headlines around the BRI and challenges facing projects in several countries,” said Peter Mumford at the Eurasia Group consultancy, But in Malaysia, Prime Minister Mahathir Mohamed agreed to put the 668-km ECRL back on track only after cutting the cost of the project from $16 billion to $10.7 billion..
“The risk for China is that other countries, having seen Mahathir’s success, now try to adopt similar tough re-negotiating tactics on BRI projects, which could slow progress elsewhere,” said Mumford. To be sure, there is no sign of any of the BRI countries attempting to re-negotiate deals signed with Beijing. Analysts say China is likely to use its willingness to work with partner nations and make projects feasible to seek more business. “GOLD-PLATED”. Bankers familiar with the deal say the Indonesian project is being constructed under “gold-plated terms”.
Of the total $6 billion cost, China’s Development Bank will provide a $4.5 billion loan at 2 percent interest, according a project prospectus seen by Reuters, The remaining 25 percent of the project cost will be funded by equity provided shirts with buttons and cufflink holes by the consortium, The loan will have no sovereign guarantees, which are among the most controversial parts of Belt and Road projects, as they shift risk onto the governments of partner countries, Beijing lobbied hard against Tokyo in 2015 to win the Indonesian project as a way to showcase its high-speed rail expertise to international customers..