Business

13 Oct 2019; MEMO: Germany and France announced Saturday they halted arms export to Turkey, Anadolu Agency reports.

“Against the backdrop of the Turkish military offensive in northeastern Syria, the Federal Government will not grant new permits for any military equipment that could be used in Syria by Turkey,” German Foreign Minister Heiko Maas told local newspaper Bild am Sonntag.

Washington, Oct 13 (PTI) After a broad-based deceleration in the initial quarters of this fiscal year, India's growth rate is projected to fall to 6 per cent, the World Bank said on Sunday.

In 2018-19, the growth rate of the country stood at 6.9 per cent.

However, the bank in its latest edition of the South Asia Economic Focus said the country was expected to gradually recover to 6.9 per cent in 2021 and 7.2 per cent in 2022 as it assumed that the monetary stance would remain accommodative, given benign price dynamics.

HAVANA, Oct 12 (NNN-Prensa Latina) — The tightening of the economic, commercial and financial blockade imposed by the United States against Cuba has caused millions in losses to Cuba’s tobacco industry, according to an official source.

The Tabacuba Business Group reported that the damages amount to $145 million from April 2018 to March 2019.

The group explained that most suppliers of packaging materials, spare parts and other supplies necessary for the tobacco industry are closely linked to the US market, and as such they cannot do business with Cuba.

TEHRAN, Oct 13 (NNN-IRNA) – Iran has the capacity to help settle the issues between Turkey and Syria, Ramin Mehmanparast, an Iranian diplomat and former spokesman of the Iranian Foreign Ministry, said, with reference to recent conflicts and military operation by Turkey in northern Syria.

On Wednesday, Turkey launched a military campaign in northern Syria to eliminate the Kurdish forces of the Syrian Democratic Forces and its umbrella of the People’s Protection Units, which are both deemed as terrorists by Ankara.

Frankfurt Am Main, Oct 11 (AFP/PTI) Germany's federal transport authority KBA has ordered Daimler to recall hundreds of thousands of diesel vehicles for breaking emissions rules, the auto giant said Friday.

"We estimate that the recall will concern a six-digit figure," it said, adding that it will "cooperate with the authorities".

The KBA has ordered the recall of successive waves of Daimler vehicles in recent years as it has uncovered excessive emissions but the company has always contested involvement in the so-called "dieselgate" scandal that broke in 2015.

New York, Oct 12 (AFP) Boeing unveiled a shift to its leadership structure on Friday as it manages the 737 MAX crisis, announcing that Dennis Muilenburg will remain chief executive but step down as chairman.

The company said splitting the roles would allow Muilenburg to focus full time on running the company "as it works to return the 737 MAX safely to service" while ensuring full support to customers sharpening Boeing's focus on safety.

Chennai, Oct 12 (PTI) Chinese President Xi Jinping left for Nepal on Saturday by an Air China aircraft, concluding his second informal summit with Prime Minsiter Narendra Modi, which has signalled a recalibration of bilateral ties.

Xi, wrapped up his about 24-hour stay during which he visited Mamallapuram near here and held informal talks with the Prime Minster. Also, delegation level talks were held.

Mamallapuram, Oct 12 (PTI) A new era of cooperation will start between India and China on Saturday with the "Chennai connect", Prime Minister Narendra Modi said after around five-and-half hours of one-on-one talks with Chinese President Xi Jinping spread over two days in this ancient coastal town as part of the second informal summit.

BRUSSELS, Oct 12 (NNN-AGENCIES) — EU countries have agreed to “intensify” Brexit talks with the UK over the next few days.

The development comes after a meeting in Brussels between Brexit Secretary Steve Barclay and EU chief negotiator Michel Barnier, described by both sides as “constructive”.

But UK Prime Minister Boris Johnson said there was “a way to go” before a deal could be reached.

The UK is due to leave the EU at 23:00 GMT on Oct 31.

RIYADH, Saudi Arabia, Oct 12 (NNN-SPA) – The Saudi Falcons and Hunting Exhibition 2019, received today, more than 70,000 visitors on the first day of its launching.

Facade of Riyadh is currently hosting the Saudi Falcons and Hunting Show in its 2nd edition.

Organised by the Falcon Club, the exhibition’s wings and sections were crowded from the early hours of its launch.

The exhibition will last until next Tuesday, and receive visitors daily for 12 hours a day, from 12.00 noon to 12.00 midnight.