Business

WASHINGTON (AP) — The Trump administration and China declared a temporary truce Friday in their 15-month trade war. Yet the grievances that led them to impose tariffs on hundreds of billions of dollars of each other’s goods remain largely unresolved.

The administration agreed to suspend a tariff hike on $250 billion worth of Chinese imports that was set to take effect Tuesday. And China agreed to buy up to $50 billion in U.S. farm products.

11 Oct 2019; MEMO: An Iranian tanker was been hit by two missiles in the Red Sea off the coast of Saudi Arabia today leading to an oil leak which is now under control, Iranian state news agency IRNA has said.

The Sabiti tanker was set ablaze and suffered heavy damage and was leaking crude about 96 kilometres from the Saudi port city of Jeddah.

“The leak of oil has stopped and the situation is under control,” IRNA said.

Chennai, Oct 11 (PTI) Chinese President Xi Jinping was treated to Tamil cultural performances by folk dancers and Bharatanatyam artistes while scores of children greeted him by waving Indian and Chinese flags as he arrived here on Friday.

On his arrival at the airport here, a red carpet welcome was accorded to Xi who was received by Tamil Nadu Governor Banwarilal Purohit, Chief Minister K Palaniswami, Deputy Chief Minsiter O Panneerselvam and Tamil Nadu Assembly Speaker P Dhanapal.

New Delhi, Oct 11 (PTI) Accusing the government of destroying the economy, the CPI(M) on Friday said "Jumlanomics" was to blame for the current situation countrywide.

Reacting to news reports on failure of government schemes leaving discoms in the red, Yechury charged that government's policies have burdened the poor.

WASHINGTON, Oct 11 (NNN-AGENCIES) — Top US and Chinese negotiators wrapped up a first day of trade talks in more than two months on Thursday as business groups expressed optimism the two sides might be able to ease a 15-month trade war and delay a US tariff hike scheduled for next week.

US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer met with Vice Premier Liu He and other senior Chinese officials for about seven hours at the USTR’s headquarters near the White House.

KUALA LUMPUR, Oct 11 (NNN-Xinhua) — Malaysia’s state-owned oil firm Petronas said Friday that it has successfully won three exploration blocks in the Campos Basin, offshore Brazil.

The company said in a statement that its subsidiary Petronas Petróleo Brasil Ltda. (PPBL) has won blocks CM 661, CM 715 and CM 541 in the region.

As operator, PPBL holds 100 percent equity in blocks CM661 and CM715. As for block CM541, PPBL owns 20 percent stake, while France’s Total SA (operator) and Qatar Petroleum holds 40 percent stake each.

10 Oct 2019; MEMO: Palestinian Prime Minister Mohammad Shtayyeh praised Egyptian efforts to support the Palestinian economy during a visit to Cairo, reported Asharq Al-Awsat.

Shtayyeh was speaking at a press conference alongside his Egyptian counterpart Mostafa Madbouly.

Geneva, 10 Oct 2019, (UMMn): India has slipped 10 points, from 58th rank in 2018 to 68 in 2019, on Global Competitiveness Index 2019. The Global Competitiveness Index 2019 has been compiled by Geneva-based World Economic Forum (WEF).

PARIS, Oct 10 (NNN-AGENCIES) – Leaders of France and Germany, will meet in Paris on Oct 13, in preparation for the due European Union summit and to discuss ways to secure an orderly Brexit, the French presidency said, on Wednesday, in a statement.

French President, Emmanuel Macron, will receive German Chancellor, Angela Merkel, at the Elysee Palace, where they would exchange views about European affairs, ahead of the EU summit, scheduled for Oct 17-18, according to the Elysee.

DHAKA, Oct 10 (NNN-BSS) – Bangladesh slipped two positions to rank 105th, out of 141 surveyed economies, in the 2019 annual global competitiveness.

A leading Bangladeshi think-tank, the Centre for Policy Dialogue (CPD), unveiled the report, on behalf of the Geneva-based World Economic Forum (WEF), at a press briefing in Dhaka on Wednesday.

Last year Bangladesh was ranked 103rd, in the annual Global Competitiveness Index (GCI) compiled by WEF.

Among 141 economies of the world, Singapore ranked top in 2019, by crossing the United States, which was in top in 2018.