Business

15 June 2019; MEMO: Fatah’s Revolutionary Council headed by Palestinian Authority (PA) President Mahmoud Abbas announced on Friday its absolute rejection of the US sponsored deal of the century.

In a statement issued after three days of meetings, the Council said: “Donald Trump’s administration is no longer qualified to play a positive role in the implementation of the international legitimacy and international resolutions related to the Palestinian cause.”

15 June 2019; AFP: The EU has sealed a deal to end a long-running row with Washington over US beef imports, a statement said on Friday, with hopes that the agreement can ease transatlantic trade tensions.

"With this step, the European Union reaffirms its commitment to bring about a new phase in the relationship with the United States," said EU Agriculture Commissioner Phil Hogan in a statement.

June 14, 2019; PTI/GANASHAKTI: Pakistan's relationship with India is probably at its "lowest point", Prime Minister Imran Khan has said even as he expressed hope that his Indian counterpart, Narendra Modi, will use his "big mandate" to resolve all differences, including the Kashmir issue.

Khan and Modi are in the Kyrgyz capital of Bishkek for the two-day Shanghai Cooperation Organisation (SCO) summit.

Mumbai, Jun 14 (PTI) India's service sector exports rose by 2.8 per cent to USD 18.06 billion in the first month of the current fiscal, RBI data showed Friday.

The services receipt or exports during April 2018 stood at USD 17.56 billion.

Services payments or imports in April 2019 were at USD 11.4 billion, up by 4.6 per cent from USD 10.92 billion in the same month of 2018-19, according to the RBI data on India's international trade in services for April 2019.

New Delhi, Jun 14 (PTI) Prime Minister Narendra Modi will Saturday chair the fifth meeting of the Niti Aayog's Governing Council which will focus on issues like the drought situation, farm distress, rain-water harvesting and preparedness for Kharif crops.

The five-point agenda for the meeting also includes aspirational districts programme, transforming agriculture and security related issues with special focus on left wing extremism (LWE) districts, an official statement said.

Washington, Jun 15 (AP) The Trump administration has suspended a complaint it had made against China to the World Trade Organization, a shift that might signal a slight opening in the administration's trade war with Beijing.

The WTO says it's granted a request to suspend work until December on the administration's complaint that Beijing has failed to safeguard the intellectual property of US companies operating in China a major issue in the trade war.

New Delhi, Jun 14 (PTI) India's exports grew by 3.93 per cent in May to USD 30 billion on the back of healthy growth in electronics and chemicals shipments, even as the trade deficit widened to a six-month high, official data showed Friday.

Imports increased by 4.31 per cent to USD 45.35 as crude oil and gold shipments shot up in the month.

The trade deficit, difference between imports and exports, aggregated at USD 15.36 billion, the widest since November 2018, when it stood at USD 16.67 billion.

NEW YORK (AP) — Chipmakers suffered broad declines Friday after Broadcom warned that its business is being hurt by the U.S. trade dispute with China, including the Trump administration’s efforts to curb sales to the Chinese telecom giant Huawei.

WASHINGTON, June 15 (Xinhua) -- For U.S. bike companies, China is almost everything. Whatever they need -- whole bikes, components, or safety accessories -- can be manufactured and sourced from China in large scale, at competitive prices and with great quality.

NEW YORK (AP) — Stocks ended a choppy week of trading with modest losses Friday as investors look forward to getting more clues about the direction of interest rates.

Technology shares drove the declines, and energy stocks also fell a day after leading the market. Some late-day gains in banks and insurers helped temper the market’s losses.