Business

WASHINGTON (AP) — President Donald Trump announced that he had suspended plans to impose tariffs on Mexico, tweeting that the country “has agreed to take strong measures” to stem the flow of Central American migrants into the United States. But the deal the two neighbors agreed to falls short of some of the dramatic overhauls the U.S. had pushed for.

7 June 2019; MEMO: The United States has decided to stop accepting any additional Turkish pilots who planned to come to the United States to train on F-35 fighter jets, US officials say, in a clear sign of the escalating dispute over Ankara’s plans to purchase Russian air defences, Reuters reports.

7 June 2019; MEMO: Cyprus will earn $ 9.3 billion over 18 years thanks to the exploitation of the Aphrodite gas field under a renegotiated contract with Dutch-British Shell, US-based Noble, and Israeli company Delek, the Energy Minister for Cyprus, announced.

George Lakkotrypis told reporters that the reworking of the production contract guaranteed Cyprus an average annual income of $ 520 million over the life of the gas field.

7 June 2019; MEMO: Belfast councillors have voted against sending a representative on a business and investment mission to Israel, reported the Belfast Telegraph.

According to the report, councillors rejected a plan to send the council’s Director of Economic Development on the trip with local businesses during a meeting on Wednesday.

The purported aim of the visit was to “facilitate access to investment and new market opportunities for five Belfast based businesses”.

7 June 2019; DW: Germany's Bundesbank on Friday gave a bleak assessment of the country's current economic prospects, cutting its forecast for 2019 GDP growth to just 0.6% from the 1.6% it predicted in December.

It also lowered its prediction of 1.2% growth in 2020 from a forecast of 1.6% six months ago.

Beijing, Jun 6; PTI/GANASHAKTI: Bilateral trade between India and China is set to cross USD 100 billion this year, India's Ambassador to Beijing said Thursday as he inaugurated an Indian oleoresin extraction firm's 3rd manufacturing facility in the country to expand its business in the Chinese food market.

Kochi-based Synthite Industries 46,000 sqm facility at Wucheng county in Dezhou in Shandong province was inaugurated by Indian Ambassador to China Vikram Misri along with local Chinese government officials.

New Delhi, June 6; IANS/GANASHAKTI:  The new Modi government will remain a junior ally of the US and Indias national interests will be subordinated to that of Washington, the CPI-M has said.

"All indications are that the second term of the Modi government will mark a further reinforcement of its role as a junior partner of the US," said an editorial in the CPI-M journal "People's Democracy".

"This will, in turn, quicken the implementation of the neo-liberal agenda and the consequent adverse impact on the lives of the people," it added.

New Delhi, Jun 6 (PTI) India lost a staggering USD 13 billion, over Rs 90,000 crore, to trade misinvoicing, equivalent to 5.5 per cent of the value of the country's total revenue collections in 2016, according to a report by the US-based think tank Global Financial Integrity.

In 2016, almost two-thirds of Indian imports that appear to be most at risk for some degree of potential revenues losses are imports from just one country, China, which was by far India's largest source of imports in that year, GFI said in its latest report released this week.

New Delhi, Jun 6 (PTI) No bilateral meeting has been planned between Prime Minister Narendra Modi and his Pakistani counterpart Imran Khan on the sidelines of the SCO Summit, the External Affairs Ministry said on Thursday.

Modi would be attending the Shanghai Cooperation Organisation summit in Kyrgyzstan's capital Bishkek on June 13-14.

MEA spokesperson Raveesh Kumar told reporters that "to the best of my knowledge, there is no bilateral meeting being planned between our Prime Minister and the Pakistan Prime Minister".

New Delhi, Jun 6 (PTI) Prime Minister Narendra Modi will embark on a visit to Maldives and Sri Lanka from June 8 to 9, in reflection of continued priority for the neighbourhood in his second term, the External Affairs Ministry said on Thursday.

Modi will first travel to Maldives, in his first bilateral visit after retaining power in the Lok Sabha polls.

Foreign Secretary Vijay Gokhale said Modi is visiting Sri Lanka on June 9 with a very clear message of solidarity in the wake of the Easter bombings.