Business

Beijing, Jul 20 : China has said it values India's concerns on the bilateral trade imbalance and is willing to discuss new approaches to address the issue and asked New Delhi to join Beijing in its fight against "unilateralism and protectionism" amidst a bruising trade war with the US.

India for long has been pressing China to open its pharmaceutical market for Indian pharma exports to address the yawning trade deficit which last year according to Chinese figures, crossed USD 57 billion in a USD 95.5 billion trade.

New Delhi, Jul 20 (PTI) Richest Indian Mukesh Ambani has kept his annual salary from his flagship firm Reliance Industries capped at Rs 15 crore for the eleventh year on the trot.

Ambani has kept salary, perquisites, allowances and commission together at Rs 15 crore since 2008-09, forgoing over Rs 24 crore per annum.

This is at a time when remunerations of all whole-time directors of the company, including cousins Nikhil and Hital Meswani, saw a handsome increase in the fiscal year ended March 31, 2019.

MAGNITOGORSK, July 19. /TASS/: Russian President Vladimir Putin put into operation the second stage of the sintering plant No. 5, a new unit of the Magnitogorsk Iron and Steel Works (MMK). The plant thereby achieved its total production capacity.

"Yes, let’s do it," the head of state said in the central control room, responding to a request to give the start to plant operation.

The newly constructed sintering plant that applies the best available technologies is to replace the obsolete plant, making it possible to significantly reduce the adverse impact on environment.

20 July 2019; DW: The G7 ministers said this week they want to clamp down on cryptocurrencies like Facebook's Libra, arguing new and untested digital coins risk destabilizing international monetary systems. But can they and should they?

LONDON, July 20 (Xinhua) -- British Foreign Secretary Jeremy Hunt warned late Friday that serious consequences would ensue if Iran's seizure of a British-operated oil tanker is not resolved quickly.

Iran's Islamic Revolution Guards Corps on Friday seized the oil tanker Stena Impero in the Strait of Hormuz, saying that "the British vessel was captured for failing to respect the international maritime rules while passing through the Strait of Hormuz."

TEHRAN, Iran (AP) — The Latest on developments related to tensions between the U.S and Iran (all times local):

4 a.m.

Energy experts say recent seizures and attacks aimed at oil tankers in the Strait of Hormuz will raise insurance rates for shipping companies and, if unchecked, could reduce tanker traffic in the vital waterway.

Britain’s foreign secretary said Friday that Iranian authorities seized two ships, one flying under the British flag, the other registered in Liberia. The events occurred in a passageway that carries one-fifth of the world’s crude exports.

19 July 2019; AFP: Beer-loving South Koreans angered by a trade row with Tokyo are boycotting Japanese brews in a surge of patriotism that has even seen popular beauty bloggers targeted.

Japan this month unveiled tough restrictions on exports crucial to tech titans like Samsung, fuelling fears about the impact on the global tech sector, while South Korea's central bank warned it could have "no small impact" on the economy.

Bengaluru, Jul 19 (PTI) Mohammed Mansoor Khan, the owner of IMA jewels, has been arrested in New Delhi by the Enforcement Directorate and is being questioned by it, said a special investigation team here which is probing the alleged ponzi scam.

Khan, who had fled to Dubai, flew back to India and was arrested on landing in Delhi, it said in a statement.

The SIT said that its sources in Dubai persuaded him to come back and submit himself before the law.

19 July 2019; DW: US aircraft giant Boeing has warned that it faces spiraling costs and plummeting revenue after the global grounding of its 737 Max passenger jets. The airline is keen to return the aircraft to service in the autumn.

BRUSSELS, July 18 (Xinhua) -- Huawei board member and Senior Vice President Catherine Chen said here on Thursday that the Chinese technology giant has signed over 50 5G commercial contracts across the world. Twenty-eight of these were signed in Europe.