Business

TEHRAN, Aug 19 (NNN-IRNA) – Iranian ambassador to Britain Hamid Baeidijnejad said on Sunday that with the arrival of a specialist engineering team to Gibraltar, Adrian Daria (formerly Grace 1) ship was expected to leave the area on Sunday night.

Kolkata, Aug 18 (PTI) State Bank of India (SBI) Chairman Rajnish Kumar on Sunday said credit demand remains subdued and there is a need for stimulus in the economy.

Though lack of credit demand exists in the economy, there is no supply-side constraint as the public sector banks are more or less well-capitalised, he said.

"Demand for credit in the economy is subdued. There is a need for stimulus in the economy", Kumar told reporters here.

Vilnius, Aug 19 (PTI) Vice President M Venkaiah Naidu has said Lithuania could be an important technology partner for India, as he underlined the immense potential for growth in bilateral trade.

Addressing the Indian community at the Lithuanian capital Vilnius on Sunday, Naidu also called upon the diaspora to serve as a bridge in strengthening economic and cultural relations between the two countries.

Tehran, Aug 18, IRNA – Iran's Minister of Information and Communications Technology wrote on his Twitter account that a new Iranian supercomputer will be ready by next Iranian year (March 20, 2020).

Mohammad-Javad Azari-Jahromi wrote that "Simurgh is to be '100 times' more powerful than previous ones".

Appreciating "the young creative makers" of Simurgh, Azari-Jahromi wrote that the Iranian supercomputer will serve the people by supporting businesses with the aim of developing artificial intelligence.

Tehran, Aug 18, IRNA – Iranian Ambassador to London in a message said the recently-released Iranian supertanker Grace 1 was not renamed due to circumventing sanctions because it is simply under no sanctions.

Renaming Grace 1 has brought about a misunderstanding of circumventing sanctions, Hamid Baeidinejad wrote in his Twitter account.

This is while, Panama was against the continuation of Grace 1 tanker under its flag, he added.

Based on maritime regulations, the flag of the ship is subject to its registration place, he noted.

KUALA LUMPUR, Aug 18 (NNN-Bernama) — Malaysia’s economic growth for the second half of this year is set to be healthy and driven by the ongoing mega projects, despite the current global economic uncertainties, says Maybank Kim Eng Group economist, Lee Ju Ye.

She said among the mega projects are the East Coast Rail Link (ECRL) which has been revived and the Klang Valley MRT 2 as well the LRT 3 project that would become the factors underpinning growth over the long term. 

KOTA BHARU, Aug 18 (NNN-Bernama) — The Entrepreneur Development Ministry is studying placing the development of Malaysia’s halal industry under its ambit and in line with its role which is more focused on it.

Its Minister, Datuk Seri Mohd Redzuan Yusof said, however, the business of certification will remain with the Department of Islamic Development Malaysia (JAKIM) and see the continued involvement of the ministry of International Trade and Industry (MITI) to award the Malaysian standard. 

HAVANA, Aug 17 (NNN-TELESUR) — Despite the United States’ attempts to limit tourism in Cuba, the country has seen three million foreign visitors between Jan. 1 and Aug. 15, Canadians making up the bulk of tourists to the Caribbean island. 

The Cuban Ministry of Tourism (Mintur) said in a statement that the arrival of the three million international travelers was “achieved despite campaigns … directed by the U.S. government to prevent the flow of tourists to our country.”

New Delhi, Aug 17 (PTI) Auto major Mahindra & Mahindra (M&M) on Saturday announced the inauguration of its local automotive assembly plant near Colombo, Sri Lanka .

"Christened Mahindra Ideal Lanka Pvt. Ltd. this assembly plant is in collaboration with Ideal Motors of Sri Lanka. The assembly plant today rolled out its first product, the compact SUV, KUV100 and will roll out a slew of products over the next 3 years," the company said in a statement.

16 August 2019; AFP: American consumers appear to be carrying the US economy in their shopping carts as manufacturing slumps amid President Donald Trump's trade conflict with China, and financial signals warn of a possible recession.

"The economy is phenomenal," Trump said Thursday. "We had a couple of bad days but we are going to have some very good days because we had to take on China."