Business

08 Dec 2019; MEMO: In principle, the Gulf Cooperation Council (GCC) summit scheduled to take place in Saudi Arabia this week should end with a return to normal relations between its six-member states. That’s why the invitation extended by Saudi Arabia’s King Salman to the Emir of Qatar, Sheikh Tamim Bin Hamad Al Thani, seemed a welcome step in the right direction.

New Delhi, Dec 8 (PTI) Former Reserve Bank of India (RBI) governor Raghuram Rajan said India is in the midst of a "growth recession" with signs of deep malaise in the Indian economy that is being run through extreme centralisation of power in Prime Minister's Office and powerless ministers.

Muzaffarpur (Bihar), Dec 7 (PTI) A criminal complaint case was filed against union minister Ram Vilas Paswan in Muzaffarpur Civil Court on Saturday for "misleading and cheating" people on the rise in the price of onions.

The case was filed by a person named M Raju Nayyar, who claims to be a social worker, in the court of Chief Judicial Magistrate Surya Kant Tiwary who posted the matter for hearing on December 12.

WELLINGTON, Dec 8 (NNN-AGENCIES) – New Zealand will phase out more single-use plastics, the government announced today (Sunday).

A report, Rethinking Plastics in Aotearoa New Zealand, was released by the Prime Minister’s Chief Science Adviser, Prof Juliet Gerrard, which highlighted New Zealand’s position in plastics use, and gave recommendations for further changes.

MUSCAT, Dec 8 (NNN-ONA) – The Omani authorities said on Saturday, that, the number of tourists visiting Oman in 2018, grew two percent, year on year, to 3.2 million.

The number of tourists from the Gulf Cooperation Council countries, topped the list with 45.4 percent, followed by Asian visitors with 21.3 percent and European visitors with 19 percent, according to a bulletin issued by the National Centre for Statistics and Information.

MOSCOW, Dec 8 (NNN-TASS) – Russia will not reopen its gas supplies to Ukraine, until both sides agree on all essential points of a gas deal, Russian Prime Minister, Dmitry Medvedev, said, in a television interview.

“We need to agree on all the essential points of this deal. Then we can resume cooperation, including our gas supplies to Ukrainian territory. This, by the way, will really be beneficial for Ukrainian citizens,” Medvedev said, in the interview.

VIENNA, Dec 8 (NNN-IRNA) – European parties to the 2015 nuclear deal, demanded that Iran stop taking steps away from the accord, but stopped short of triggering a mechanism that could renew United Nations sanctions, during a rare meeting between the pact’s remaining signatories. 

BEIJING (AP) — China’s trade with the United States sank again in November as negotiators worked on the first stage of a possible deal to end a tariff war.

Customs data on Sunday showed exports to the United States fell 23% from a year earlier while imports of American goods were off 2.8%.

Exports to some other countries including France rose, helping to offset the loss.

Total Chinese exports were off 2.5% from a year earlier despite weakening global demand while imports were up 0.2%.

Washington, Dec 7 (AP/PTI) Mexico's top trade negotiator wrapped up an 11-hour meeting with his US counterpart Friday night, saying they had not finalized a new trade agreement for Mexico, United States and Canada.

"We are working on all the issues. It is not easy, but we are working well, Jesus Seade told reporters as he left the office of U.S. Trade Representative Robert Lighthizer.

He said they might meet again Saturday.

Washington, Dec 7 (AFP/PTI) US President Donald Trump lashed out at the World Bank on Friday, blaming the international financial institution for lending money to China.

"Why is the World Bank loaning money to China? Can this be possible? China has plenty of money, and if they don't, they create it. STOP!" Trump wrote on Twitter.