China’s exports beat expectations to rise in July while its purchases continued to shrink, official data showed Thursday, despite simmering US trade tensions.

Conglomerate Swire Pacific became the latest major Hong Kong company to voice concern about the impact of protests in the city on business activity, saying they are having direct and indirect impact on demand on a number of its businesses.

German sportswear maker Adidas warned Thursday that “everybody will lose” if a currency war ignites between China, the United States and other countries, while reporting continued strong earnings in its second quarter.

US President Donald Trump on Wednesday said his tough stance on China’s economic and trade policies would ultimately benefit the American economy, even as Beijing signaled it could strike back by curbing sales of chemicals known as rare earths that are used in everything from iPhones to military equipment.

Japan has approved the export to South Korea of some key products for the first time since introducing stricter trading rules amid an ongoing row between the two US allies.

The US Food and Drug Administration has told four companies to remove 44 of their flavored e-liquid and hookah tobacco products that do not have the required approval for sale in the US, the agency said on Thursday.

Beijing on Thursday said US rules banning technology giant Huawei and other Chinese firms from government contracts amounted to “abuse of state power” amid an escalating China-US trade war.

The United Arab Emirates withdrew on Thursday a complaint it made to the World Trade Organization accusing Qatar of imposing discriminatory trade restrictions on its goods.

Papua New Guinea Prime Minister James Marape has backtracked on an announcement saying he had asked China to refinance the country’s $8 billion debt, insisting the statement was released without his knowledge.

New Zealand’s central bank slashed interest rates to a record low of 1 percent Wednesday, warning that the economy faced rising headwinds.

Hong Kong’s flagship airline Cathay Pacific warned Wednesday that increasingly violent protests in the financial hub had hit booking demand.

US electric vehicle maker Tesla Inc is considering lifting its prices in China from September amid yuan-related uncertainty, two people familiar with the matter said.

South Korean tech giant Samsung Electronics, the world’s biggest smartphone and memory chip maker, is seeking alternatives to Japanese suppliers for some key materials, it said Wednesday with Seoul and Tokyo embroiled in a bitter trade dispute.

India’s central bank on Wednesday cut interest rates for the fourth time this year and slashed growth forecasts as New Delhi battles a sluggish economy and high unemployment.

US President Donald Trump dismissed fears of a protracted trade war with China on Tuesday despite a warning from Beijing that labeling it a currency manipulator would have severe consequences for the global financial order.

Slumping sales of cars and motorcycles are triggering massive job cuts in India’s auto sector, with many companies forced to shut down factories for days and axe shifts, multiple sources said.

China has told India not to block its Huawei Technologies from doing business in the country, warning there could be consequences for Indian firms operating in China, sources with knowledge of the matter said.

Money poured into the world’s bond markets on Wednesday as investors shunned riskier investments such as stocks for the relative safety of government debt.

China’s rare earths association said it would support Chinese counter-measures in the escalating trade row with the United States, which it accused on Wednesday of “bullying”.

Japan’s SoftBank Group said Wednesday its first-quarter net profit more than tripled thanks to exceptional gains related to the sale of shares in Chinese e-commerce giant Alibaba.