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First major Chinese company suspends business sales in Russia & Ukraine

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3 years ago

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Chinese drone company, DJI halts sales in Russia and Ukraine amidst fears they could be used to cause harm

In a short statement, DJI says they will “temporarily suspend all business activities in Russia and Ukraine”.

Though some Chinese banks have halted financial dealings in Russia, DJI is the first major company to pause business operations in the region, despite the strong stance the Chinese government has had on avoiding criticism of the war.

A press release last week from DJI condemns the use of drones for military purposes, stating, “our products are made to improve people’s lives and benefit the world, and we absolutely deplore any use of our products to cause harm”.

“We will terminate our business relationship with [distributors, resellers, and other business partners] if they cannot adhere to this commitment.”

Analysts say the drone company wants to appear neutral in the war and believe paused operations by the world’s largest commercial drone-maker is unusual for a major Chinese company.

Speaking to Reuters, a DJI spokesperson says that “DJI abhors any use of our drones to cause harm, and we are temporarily suspending sales in these countries in order to help ensure no-one uses our drones in combat”.

DJI will continue to assess the use of their products in these regions and whether they have been used for military purposes.

China has sought to remain neutral on the conflict, calling for a peaceful solution. But it has yet to condemn the Russian invasion.

Last month, Ukraine’s Vice Prime Minister tweeted DJI to say: “Block your products that are helping Russia to kill the Ukrainians.”

An open letter attached to the tweet alleged that Russia was using DJI drones to help target missiles.

The company responded saying the products were only for civilian use.

Katerina Kostakos contributed to this report

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Trump’s copper tariff shakes global markets

Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.

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23 hours ago

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July 10, 2025

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Trump’s 50% copper import tariff aims to strengthen U.S. manufacturing, impacting global supply chains and Chile significantly.


President Donald Trump has unveiled plans to impose a 50% tariff on copper imports, a move set to rattle global supply chains and redraw the industrial map.

The tariff will hit within weeks, with Chile, the world’s largest copper exporter, expected to bear the brunt.

While Australia’s direct copper trade with the US is limited, analysts say the real message is strategic: the US is reinforcing its domestic manufacturing power.

#CopperTariff #DonaldTrump #TradeWar #GlobalMarkets #TickerNews

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RBA unexpectedly keeps interest rates steady at 3.85%

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

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3 days ago

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July 8, 2025

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RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

In Short:
The Reserve Bank of Australia has kept its cash rate at 3.85% despite concerns from the Housing Industry Association about its impact on new home construction. Although inflation is within target and there’s some market confidence, households are under financial strain amidst economic uncertainties.

The Reserve Bank of Australia has decided to maintain the cash rate at 3.85% following a split vote of six to three. This unexpected decision comes as the Housing Industry Association warns that these rates remain restrictive, potentially hindering new home building.

Senior economist Tom Devitt stated that the rates will delay necessary building activity but noted improved market confidence following previous rate cuts.

Current inflation data shows the RBA’s preferred measure has been declining and remains within the target range. However, household spending is under strain, with Australia experiencing a per capita recession since mid-2022.

Labour costs

The RBA’s decision was influenced by concerns over productivity growth and high unit labour costs, affecting its inflation outlook. While some economists anticipated a rate cut, the RBA opted for caution due to economic uncertainties, both domestically and internationally.

The bank acknowledged gradual recovery in private demand and household incomes but highlighted ongoing challenges in passing cost increases to final prices.

Despite the hold on rates, price rises in essentials like petrol continue to impact Australian households. The RBA emphasized the need for ongoing assessment before making future rate changes, suggesting a careful approach in response to evolving economic conditions.

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Feeling the stress this tax season?

Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximize deductions for 2025.

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3 days ago

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July 8, 2025

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Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximise deductions for 2025.


It’s that time of year again, and if you’re feeling overwhelmed, you’re not alone.

With so many moving parts, from missed deductions to misplaced receipts, small mistakes can lead to big losses.

Dr Steve Enticott from CIA Tax joins to break down what people forget most, which new deductions to know for 2025, and why a simple checklist can save you money.

#TaxTime #MoneyTips #2025Tax #TaxReturn #TickerNews

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