Business

China’s Vice Commerce Minister to visit U.S. for trade talks

China’s Vice Commerce Minister to visit U.S. for trade talks A Chinese delegation led by Vice Minister of Commerce Wang Shouwen will meet USA representatives led by Under Secretary of Treasury for International Affairs David Malpass, the Ministry of Commerce said in a statement on its website. "The Chinese side reiterates that it opposes unilateralism and trade protectionism practices and does not accept any unilateral trade restriction measures", the min... [Full Article...]

Steel tariffs to rescue United States steel industry

Steel tariffs to rescue United States steel industry U.S. President Donald Trump speaks about trade at the Granite City Works steel coil warehouse in Granite City, Illinois, U.S., July 26, 2018. According to Trump, some people may complain that in the short term steel prices may be "a little more expensive", but that they ultimately will drop and his moves will have preserved an industry important to national security. [Full Article...]

Risk of no-deal Brexit rising, ‘everyone needs to prepare’: UK FM

Risk of no-deal Brexit rising, ‘everyone needs to prepare’: UK FM The Reserve Bank of Australia's (RBA) latest economic forecasts concerned investors too. While Pound performance has improved since last week , the British currency isn't exactly strong either and its recovery has been highly limited due to considerable uncertainties and concerns regarding Britain's economic outlook. [Full Article...]

Erdogan says Turkey will boycott USA electronic goods

Erdogan says Turkey will boycott USA electronic goods Investors are anxious not only about Turkey's souring relations with the us , a longtime North Atlantic Treaty Organisation ally, but also Erdogan's economic policies and the country's high debt accumulated in foreign currencies . "I'm quite surprised because I took a lot of cash from the bank in lira and when I woke up in the morning I found out that I nearly lost [the equivalent of] one hund... [Full Article...]

Retail inflation slows to 9-month low at 4.17%

Retail inflation slows to 9-month low at 4.17% Determined by Consumer Price Index (CPI), consumer or retail inflation in June was revised to 4.92 per cent, from a provisional 5 per cent previously. "This is likely to weigh down consumer spending, posing fresh problems for embattled high street businesses", Parikh said. "Decline in retail inflation in July 2018 was on expected lines", Devendra Pant, chief economist and senior director (... [Full Article...]

Qatar gives Erdogan a $15bn boost amid U.S. row

Qatar gives Erdogan a $15bn boost amid U.S. row The announcement came after Qatar's emir Sheikh Tamim bin Hamad Al-Thani held lunchtime talks with Turkish President Recep Tayyip Erdogan . Turkey doubled tariffs on some US imports including cars, alcohol and tobacco on Wednesday in retaliation for USA moves, but the lira rallied a further six per cent after a fresh move by banking authorities to underpin the currency. [Full Article...]

Qatar pledges to invest $15 billion into Turkey

Qatar pledges to invest $15 billion into Turkey A treasury desk trader at one bank said this "development showed relations with the European Union could recover while tense relations continue with the USA". The U.S. was the fourth largest source of imports to Turkey past year, accounting for $12 billion of imports, according to International Monetary Fund statistics. [Full Article...]

Turkey retaliates by raising tariffs

Turkey retaliates by raising tariffs In a decision announced in the Official Gazette, Ankara said it will impose extra tariffs on imports of products including rice, vehicles, alcohol, coal and cosmetics. The Trump administration announced plans last week to double United States tariffs imports of steel and aluminum from Turkey. "Turkey does not favor an economic war, but it can not remain unresponsive when it is attacked". [Full Article...]

As rupee sinks to historic low, Modi govt blames 'external factors'

As rupee sinks to historic low, Modi govt blames 'external factors' The Indian rupee and 10-year bond prices rose on Tuesday after retail inflation slowed to a nine month low, providing comfort to the government and Reserve Bank of India. "The swift move past 69 happened due to foreign portfolio investor (FPI) outflows and the need to hedge existing short dollar positions in the market, driven by global market sentiment rather than actual importer demand", said ... [Full Article...]

Iran offers discount oil to Asia

Iran offers discount oil to Asia Turkey's lira, which crashed to an all-time low against the dollar on Monday, recovered about 5 percent on Tuesday. Liberty Chairman & CEO Chris Wright says the Iran sanctions going into effect on Tuesday could have an impact on oil. In terms of oil demand growth, in the worst-case scenario where trade tariffs include regions beyond the US and China, OPEC sees demand rising by 1.53 million bpd... [Full Article...]

Turkey to boycott US-made electronic products: Erdogan

Turkey to boycott US-made electronic products: Erdogan Although the case of Andrew Brunson , an Christian Evangelical preacher from North Carolina, has been the focus of the deterioration in US-Turkish relations, Turkey's existing economic woes have merely been exacerbated by the row, according to analysts. [Full Article...]

Turkey to reduce currency risk for companies, Finance Minister Albayrak says

Turkey to reduce currency risk for companies, Finance Minister Albayrak says The Turkish lira had seen a significant drop over the past weekend and Turkeys central bank has said its ready to take all necessary measures to ensure financial stability after the collapse. "We view the policy of sanctions as unlawful and illegitimate, driven mostly by a desire to dominate everywhere and in everything, dictate policies and call shots in global affairs", Lavrov said. [Full Article...]

More than 100 large wildfires in United States as six new blazes erupt

More than 100 large wildfires in United States as six new blazes erupt We sent five of our team members to California to battle these bad fires. A Redding, California, family who fled the sprawling Carr Fire returned home to find something fishy had happened while they were away. The man accused of deliberately starting the fire appeared in court on Friday, but his arraignment was postponed. He's being held on $1 million bail, and faces a maximum sentence of life... [Full Article...]

Tesla forms committee to assess proposal to go private

Tesla forms committee to assess proposal to go private Musk regarding a potential Going Private Transaction will be accepted by the special committee", it writes. Musk's attempt to take the carmaker private requires approval from the committee, the filing by Tesla said. and private-equity firm Silver Lake and had lined up legal advisers. The agency declined to comment. Bloomberg had reported earlier on Tuesday that Goldman was not tapped as an... [Full Article...]

Man who stole, crashed plane from WA airport has ND ties

Man who stole, crashed plane from WA airport has ND ties Friday from a maintenance area of the Seattle-Tacoma International Airport in Washington, according to reports . In his final moments captured by partial recordings of his conversations with air traffic controllers that were published online by Broadcastify.com, Russell spoke calmly and said he was sorry to disappoint people who cared about him and described himself as a "broken guy". [Full Article...]

Erdogan slams 'stab in back' as Turkey fails to halt lira carnage

Erdogan slams 'stab in back' as Turkey fails to halt lira carnage The currency has lost more than 40 percent against the dollar this year, largely due to worries about President Tayyip Erdogan's influence over the economy, his repeated calls for lower interest rates, and worsening ties with the United States. [Full Article...]

Man Steals Passenger Plane, Does Stunts Before Crashing

Man Steals Passenger Plane, Does Stunts Before Crashing Eckrote said it was very fortunate that the plane crashed in a relatively unpopulated island. He was believed to have been killed in the crash. Local media citing sources at Joint Base Lewis-McChord (JBLM) air force base said one or more F-15 fighter planes contacted the rogue aircraft and it crashed soon afterwards. [Full Article...]

No talks but no war either says Iran's Khamenei

No talks but no war either says Iran's Khamenei State broadcaster IRIB said the new Fateh Mobin missile had "successfully passed its tests" and could strike targets on land and sea. "We need lower tariffs, more open markets and less protectionism worldwide", the minister told Bild am Sonntag, while responding to a question on Trump's new tariffs on Turkey and China. [Full Article...]

Pakistan reiterates 'strong support' for Turkey after USA sanctions

Pakistan reiterates 'strong support' for Turkey after USA sanctions Turkish lira to the USA dollar . Higher US rates make the dollar more attractive to hold, offering investors an extra incentive to switch out of risky emerging country assets. Donald Trump's administration hit Turkey's justice and interior ministers with sanctions last week . FILE - Andrew Craig Brunson, an evangelical pastor from Black Mountain, North Carolina, arrives at his house in Izmir... [Full Article...]

Here’s How To Win Free McDonald’s For Life

Here’s How To Win Free McDonald’s For Life The victor will receive what the company calls its new McGold Card , good for two free meals a week for 50 years. McDonald's is offering free food "for life" in a new contest as part of a campaign to promote its mobile app and online ordering system. [Full Article...]


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