Business

LONDON, Aug 15 (NNN-SPUNTIK) – The Grace 1 was seized by UK marines on 4 July over an alleged breach of EU sanctions against Syria. Iran’s state-run television and radio corporation IRIB reported earlier, citing sources, that the vessel would be released within 48 hours.

Gibraltar Chief Minister Fabian Picardo said that the Grace 1 would be released on Thursday, adding that Gibraltar authorities would not renew the order to detain the oil tanker

WASHINGTON (AP) — Financial markets are flashing a key warning sign of a recession, and the global economy is weakening as the U.S.-China trade war intensifies.

All of which is heightening fear about the U.S. economy and about whether the 10-year expansion, the longest on record, is nearing an end.

On Wednesday, a rare realignment in interest rates intensified those worries: The yield on the benchmark 10-year U.S. Treasury note briefly fell below the yield on the 2-year Treasury for the first time since 2007.

SEOUL, South Korea (AP) — South Korean President Moon Jae-in offered an olive branch to Japan to end an ongoing trade dispute Thursday, saying Seoul will “gladly join hands” if Tokyo wants to talk.

Moon in a nationally televised speech also downplayed the threat posed by North Korea’s recent short-range ballistic launches and expressed hope that Washington and Pyongyang would soon resume nuclear negotiations.

BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday after the Dow Jones Industrial Average plunged on mounting fears of a possible recession.

Market benchmarks in Shanghai, Tokyo and Hong Kong all retreated.

U.S. investors dumped stocks, sending the Dow into its biggest one-day drop of the year, after the yield on the 10-year Treasury crossed a threshold that has correctly predicted many past recessions.

Monaca (US), Aug 14 (AFP/PTI) President Donald Trump has threatened to pull the United States out of the World Trade Organization if conditions are not improved.

"We will leave if we have to," Trump told a cheering audience of workers at a Shell chemical plant in Pennsylvania on Tuesday.

Jammu, Aug 13 (PTI) Seeking to woo businesses to Jammu and Kashmir after scrapping of Article 370, the state administration on Tuesday announced a three-day global investors summit to be held in Srinagar from October 12.

The meet will provide J-K an opportunity to showcase its strengths, strategies and potential, the state's Principal Secretary (Industries), Naveen Choudhary, told reporters here.

New Delhi, Aug 13 (PTI) Auto stocks tumbled up to 9 per cent on Tuesday after industry body SIAM reported that automobile sales in India witnessed sharpest decline in nearly 19 years in July, dropping 18.71 per cent, rendering almost 15,000 workers jobless over the past two-three months.

Shares of Motherson Sumi Systems tanked 8.94 per cent, Bharat Forge fell 6.13 per cent, M&M plunged 6.11 per cent, Bosch fell 5.43 per cent, Eicher Motors declined 5.31 per cent and TVS Motor Company fell 5.07 per cent.

TOKYO (AP) — Asian shares were mostly higher Wednesday after the U.S. said it would hold off on tariffs of Chinese imports of mobile phones, toys and several other items typically on holiday shopping lists.

Japan’s Nikkei 225 added 1.2% in early trading to 20,691.10, while Australia’s S&P/ASX 200 rose 0.5% to 6,598.50. South Korea’s Kospi gained 1.3% to 1,951.33. Hong Kong’s Hang Seng rose 1.3% to 25,618.67. The Shanghai Composite edged up 0.9% to 2,822.30.

Mumbai, Aug 12 (PTI) Richest Indian Mukesh Ambani on Monday announced plans to sell stakes in his flagship Reliance Industries' oil and chemical business to Saudi oil giant Aramco and in fuel retail network to BP plc of UK for a combined Rs 1.15 lakh crore as he looked to make his company a zero-net debt firm in 18 months.

Washington, Aug 13 (PTI) US President Donald Trump has made it clear that his offer of mediation on Kashmir is not on the table anymore, a top Indian diplomat said on Monday.

India's Ambassador to the US, Harsh Vardhan Shringla, said that America's decades-old policy on Kashmir has been no mediation but to encourage India and Pakistan to resolve their differences bilaterally.