Trillions in USA net worth vulnerable to recession: IMF
WASHINGTON: A severe recession would slash US public wealth by about USD 5 trillion, causing vastly more damage to Washington’s finances than just an increase in debt and deficits, the International Monetary Fund (IMF) has warned. Yet governments around the world, many of which face similar dangers, do not clearly publicise their overall net worths, […]
With USD 39 billion wealth, Alibaba founder Jack Ma reclaims top spot among Chinese billionaires
By K J M Varma BEIJING: Jack Ma, the founder of the e-commerce giant Alibaba, has regained the title of China’s richest man with he and his family having a total wealth of about USD 39 billion, according to the latest version of the Hurun China Rich List 2018. Ma, 54, who last month made […]
Strong bilateral ties with China is cornerstone of Pakistan foreign policy: Imran Khan
ISLAMABAD: Prime Minister Imran Khan on Monday said that a strong bilateral relationship with China is the cornerstone of the Pakistan’s foreign policy. Khan chaired a high-level meeting with his Cabinet colleagues and discussed his maiden tour to China next month during which matters related to the China-Pakistan Economic Corridor (CPEC) is to be discussed, […]
USA should not view ties with Pakistan through ‘Indian lens’
ISLAMABAD: The United States of America (USA) should not view its ties with Pakistan from the the Indian lens or Afghan perspective, Pakistan’s Foreign Minister Shah Mehmood Qureshi has said. The relations between Pakistan and the US nosedived this January after President Donald Trump accused Islamabad of giving nothing to Washington but “lies and deceit” […]
China pumps USD 109 billion into economy as trade war bites on growth
By K J M Varma BEIJING: China’s central bank said on Sunday that it was cutting the reserve requirement ratios (RRRs) by one per cent from October 15 which will inject a net USD 109.2 billion in cash into the banking system, amid a deepening trade war with the US that has increased pressure on […]
Bombardier’s joint venture wins contract to build 120 new Chinese standard high-speed train cars
NEW DELHI: Rail technology leader Bombardier Transportation announced today that its Chinese joint venture, Bombardier Sifang (Qingdao) Transportation Ltd. (BST), has been awarded a contract, at the end of September, with China Railway Corp. (CRC) to supply 120 CR400AF new Chinese standard high-speed train cars for China’s evolving high-speed rail network. The 120 cars will […]
Donald Trump hails new USA-Canada-Mexico trade pact
WASHINGTON: The United States of America (USA) USA President Donald Trump on Monday declared a new US trade pact with Canada and Mexico to be “a great deal” for all three countries, hailing the replacement of the old NAFTA deal which he long railed against and threatened to cancel. Known as the United States-Mexico-Canada Agreement […]
Air France awards in-flight connectivity solution to Global Eagle, Orange Business Services
NEW DELHI: Global Eagle Entertainment has announced that Air France has awarded a long-term contract for in-flight connectivity systems and services to a collaboration between Global Eagle and Orange Business Services. The contract initially includes 113 Airbus A320 family aircraft operated by Air France. Installations are already underway. Air France’s Airbus A320 family includes A318, […]
China says it won’t be pushed around by USA on trade
UNITED NATIONS: China warned on Friday that its critical relationship with the United States of America (USA) could break “like a glass,” and used the most global of stages to warn the Trump administration it wouldn’t be pushed around on trade. Foreign Minister Wang Yi insisted that his country “will not be blackmailed” or bow […]
How H-1B visa holders could be affected by new USA rule
Lalit K Jha, PTI WASHINGTON: From Monday, the United States of America (USA) would start implementing a new rule which allows initiation of deportation process of people whose legal status to stay in America has expired for reasons such as denial of visa extension application or change in status, officials said. However in a relief […]
Donald Trump, Emmanuel Macron discuss Syria, Iran and trade
By Lalit K Jha WASHINGTON: United States of America (USA) President Donald Trump on Monday held a meeting with his French counterpart, Emmanuel Macron, during which the two leaders discussed the situation in Syria, the aggressive behaviour of Iran and promoting free trade between the US and the European Union (EU). “The two leaders discussed […]
China says can’t hold USA trade talks with ‘knife to the throat’
BEIJING:China said on Tuesday it was impossible to hold trade talks with the United States of America (USA) while Washington is imposing tariffs that are like “holding a knife to someone’s throat”. Speaking a day after Washington activated tariffs on 200 billion in Chinese goods, vice commerce minister Wang Shouwen said China is open to […]
USA seeks to curtail green cards for immigrants on public aid
SAN DIEGO: The Donald Trump administration on Saturday proposed rules that could deny green cards to immigrants if they use Medicaid, food stamps, housing vouchers and other forms of public assistance. Federal law already requires those seeking green cards and to prove they will not be a burden or “public charge” but the new rules […]
Russia warns USA it is ‘playing with fire’ with sanctions
MOSCOW: Moscow said on Friday Washington’s latest raft of anti-Russian sanctions that also target China undermined global stability, warning the United States against “playing with fire.” “It would be good for them to remember there is such a concept as global stability which they are thoughtlessly undermining by whipping up tensions in Russian-American ties,” deputy […]
North Korea, South Korea join hands on peak of sacred North Korean volcano
PYONGYANG: The leaders of the rival Koreas took to the road for the final day of their summit on Thursday, standing on the peak of a beautiful volcano considered sacred in the North and a centerpiece of propaganda used to legitimise the Kim family’s rule, their hands clasped and raised in a pose of triumph. […]
Affordable housing to get 2 billion pound boost in UK
By: Elisabeth O’Leary Britain’s government will invest 2 billion pounds ($2.6 billion) to address an affordable housing shortage, Prime Minister Theresa May will say on Wednesday. House-building has been a stated priority as the government tries to answer voter concerns about a lack of affordable housing in many areas following decades when house prices have […]