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Business & Economy

US-Canada border transfers raise fear of delayed crossings

DERBY LINE, Vt. (AP) — Hundreds of border agents from across the U.S. are being temporarily transferred south ahead of the busy summer tourism season, worrying those along the northern border who rely on cross-border commerce — including U.S. innkeepers, shop owners and restaurateurs who fear their Canadian customers could be caught in backups at border crossings.

Human rights takes center stage as Israel hosts Eurovision

JERUSALEM (AP) — As host of this year’s Eurovision, Israel has tried to use the hugely popular song contest to present itself as a tolerant and cosmopolitan country that is winning increased acceptance on the world stage. But despite Israel’s best branding efforts, the kitschy festival is clouded in political conflict and controversy.

Pakistan secures preliminary deal for $6B IMF bailout

ISLAMABAD (AP) — The International Monetary Fund said Sunday it reached a preliminary agreement with Pakistan for a $6 billion bailout over the next three years to finance sweeping economic reforms.

Pakistan and the international lender reached a “staff level agreement” subject to approval by the IMF management and the executive board, IMF envoy Ernesto Ramirez Rigo said in a statement.

N. Korean cargo ship seized by US arrives in American Samoa

PAGO PAGO, American Samoa (AP) — A North Korean cargo ship seized by the U.S. because of suspicion it was used to violate international sanctions arrived at the capital of this American territory, where it will undergo inspections.

The Wise Honest was slowly towed to the port of Pago Pago during a cloudy Saturday morning and docked at the main docking section of the port that afternoon.

Top WH adviser admits US consumers will pay increased tariffs

WASHINGTON (AP) — The White House’s top economic adviser acknowledged Sunday that U.S. consumers and businesses pay the tariffs that the Trump administration has imposed on billions of dollars of Chinese goods, even as President Trump himself insisted in a tweet, incorrectly, that China pays.

“Yes, I don’t disagree with that,” said Larry Kudlow, the head of the president’s National Economic Council, when Chris Wallace, host of “Fox News Sunday,” asked him, “It’s U.S. businesses and U.S. consumers who pay, correct?”

Pakistan PM slams hotel attack as bid to damage economy

12 May 2019; AFP: An attack on a luxury hotel in the southwestern city of Gwadar was a bid to "sabotage prosperity", Pakistani prime minister Imran Khan said Sunday, as police confirmed all the attackers had been killed.

At least one person was shot dead Saturday after gunmen stormed a luxury hotel in the southwestern Pakistani city of Gwadar, the centrepiece of a multi-billion dollar Chinese infrastructure project.

Merkel should serve full term says heir Kramp-Karrenbauer

12 May 2019; DW: Germany's CDU, the party once led by Chancellor Angela Merkel, is now led by Annegret Kramp-Karrenbauer. She insists she is not trying to push Merkel out as chancellor before 2021.

Germany's government and chancellor are "elected for a full term" and should take that responsibility seriously, CDU party chief Annegret Kramp-Karrenbauer told the conservative Die Welt newspaper.

US 'seriously underestimated' Chinese endurance

12 May 2019; DW: Beijing has remained optimistic about resolving the trade war, while Washington has doubled down on tariffs. China's chief negotiator warned, however, that there were some lines the country wouldn't cross.

China remained positive about trade talks with the US on Saturday, despite Washington imposing a new round of tariffs. Vice Premier Liu He warned, however, that there were "issues of principle" at stake.

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