US President Joe Biden held a call with China's President Xi Jinping on Tuesday to discuss issues including maintaining peace across the Taiwan Strait.
It is the first call between the leaders since the met in November. The White House described the call, which lasted nearly two hours, as “candid and constructive”.
The leaders also addressed military communications and co-operation to curb the production of fentanyl, a synthetic opioid that is the leading cause of drug overdoses in the US.
“We believe there is no substitute for regular communication at the leader level to effectively manage this complex bilateral relationship and both presidents agree to pick up the phone and speak when needed,” White House press secretary Karine Jean-Pierre told reporters.
The call comes as the Biden administration seeks to de-escalate tensions with China, before the inauguration of Taiwan's President-elect Lai Ching-te in May. He has said he wants to preserve the island's de facto independence from China.
“President Biden emphasised the importance of maintaining peace and stability across the Taiwan Strait and the rule of law and freedom of navigation in the South China Sea,” the White House said in a readout of the call.
The last time Mr Biden and Mr Xi met face to face was in November, during a summit in California.
US Treasury Secretary Janet Yellen is set to arrive in China on Thursday, in a further push to improve relations. Secretary of State Antony Blinken is expected to travel to China in the coming weeks.
During her trip, Ms Yellen is expected to press Chinese Premier Li Qiang and other officials on “unfair trade practices” and the global consequences of Chinese industrial overcapacity, the Treasury Department said.
She will also hold talks to address expanding co-operation on illicit finance, climate change and debt distress.
National Security Council spokesman John Kirby said the leaders also the call to discuss TikTok, the Chinese-owned video-sharing app that harvests enormous amounts of user data.
US politicians passed a bill last month that could lead to the platform being banned in the country.
“TikTok came up today, yes,” Mr Kirby told reporters. “[Mr Biden] made it clear to President Xi that this was not about a ban of the application, but rather our interest in divestiture so that the national security interests and the data security of the American people can be protected."
During the call, Mr Biden raised concerns about China's “support for Russia’s defence industrial base”, according to the readout, as Moscow presses ahead with its invasion of Ukraine.
Wonka
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Three trading apps to try
Sharad Nair recommends three investment apps for UAE residents:
- For beginners or people who want to start investing with limited capital, Mr Nair suggests eToro. “The low fees and low minimum balance requirements make the platform more accessible,” he says. “The user interface is straightforward to understand and operate, while its social element may help ease beginners into the idea of investing money by looking to a virtual community.”
- If you’re an experienced investor, and have $10,000 or more to invest, consider Saxo Bank. “Saxo Bank offers a more comprehensive trading platform with advanced features and insight for more experienced users. It offers a more personalised approach to opening and operating an account on their platform,” he says.
- Finally, StashAway could work for those who want a hands-off approach to their investing. “It removes one of the biggest challenges for novice traders: picking the securities in their portfolio,” Mr Nair says. “A goal-based approach or view towards investing can help motivate residents who may usually shy away from investment platforms.”
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
NBA Finals results
Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)
Company%20profile
%3Cp%3EName%3A%20Cashew%0D%3Cbr%3EStarted%3A%202020%0D%3Cbr%3EFounders%3A%20Ibtissam%20Ouassif%20and%20Ammar%20Afif%0D%3Cbr%3EBased%3A%20Dubai%2C%20UAE%0D%3Cbr%3EIndustry%3A%20FinTech%0D%3Cbr%3EFunding%20size%3A%20%2410m%0D%3Cbr%3EInvestors%3A%20Mashreq%2C%20others%0D%3C%2Fp%3E%0A
Titanium Escrow profile
Started: December 2016
Founder: Ibrahim Kamalmaz
Based: UAE
Sector: Finance / legal
Size: 3 employees, pre-revenue
Stage: Early stage
Investors: Founder's friends and Family