Business

BERN, Switzerland, April 21 (Xinhua) -- China's Belt and Road Initiative (BRI) is a fundamental task crucial for generations to come, which, when implemented smoothly, will bring many benefits to both the economic development and the well-being of the people worldwide, President Ueli Maurer of the Swiss Confederation has said.

In a joint interview with Chinese media, Maurer said BRI has created a new dimension for the development of world economy, which as such a long-term strategic plan is rarely seen so far.

WASHINGTON, April 22 (Xinhua) -- U.S. President Donald Trump has decided not to reissue the sanctions waivers allowing major importers to continue buying Iran's oil when they expire in early May, the White House said Monday.

"This decision is intended to bring Iran's oil exports to zero," denying the Iranian government "its principal source of revenue," said the White House in a statement

U.S. Secretary of State Mike Pompeo told reporters later in the day that the U.S. sanctions will be reimposed on all countries that import oil from Iran since May 2

WASHINGTON (AP) — The financial condition of the government’s bedrock retirement programs for middle- and working-class Americans remains shaky, with Medicare pointed toward insolvency by 2026, according to a report Monday by the government’s overseers of Medicare and Social Security.

It paints a sobering picture of the programs, though it’s relatively unchanged from last year’s update. Social Security would become insolvent in 2035, one year later than previously estimated.

WASHINGTON (AP) — The Trump administration is considering suspending or limiting entry to the U.S. for individuals from countries with high rates of short-term visa overstays — a proposal vaguely reminiscent of the controversial travel bans President Donald Trump pursued during his first year in office.

In a memo signed Monday, Trump directs officials to examine new ways to minimize the number of people overstaying their business and tourist visas as part of a renewed focus on immigration as the 2020 campaign kicks into high gear.

SINGAPORE (AP) — Asian stocks mostly rose Tuesday and oil prices soared to their highest level since October after the U.S. said it would soon impose sanctions on all buyers of Iranian oil.

Japan’s Nikkei 225 index closed 0.2% higher at 22,259.74 and the Kospi in South Korea added 0.2% to 2,220.51. Hong Kong’s Hang Seng added 0.2% to 30,007.65. Australia’s S&P ASX 200 gained 1% to 6,319.40. The Shanghai Composite bucked the regional trend, falling 0.1% to 3,210.77.

Shares rose in Taiwan, Thailand and Indonesia, but fell in Singapore.

Tehran, April 22, IRNA – Pakistani exporters wish to use third party banking channels, especially the Chinese banks, to trade with Tehran since Pakistan has $35 million of exports to Iran due to the US sanctions imposed on the neighboring country, Pakistan said on Monday.

Tehran, April 22, IRNA - A delegation from Iran's Expediency Council is in China to take part in the country's Belt and Road Initiative.

DAMASCUS, April 20. /TASS/. Syria may soon lease out to Russia its seaport of Tartus for a term of 49 years for economic uses, Russian Deputy Prime Minister Yuri Borisov said on Saturday after his meeting with Syrian President Bashar Assad.

In 2017, Moscow and Damascus signed an agreement on the deployment of a Russian navy logistics support center in Tartus for the term of 49 years.

BANDAR SERI BEGAWAN, April 22 (Xinhua) -- Brunei lives up to its name as the "Kingdom of Unexpected Treasures," as its pearls, precious or semi-precious stones and precious metals make up the fourth largest export of the country.

Updated data posted earlier this month from the International Trade Centre, the joint agency of the World Trade Organization and the United Nations, showed that the sultanate recorded 29.0 million U.S. dollars in exports of pearls, precious or semi-precious stones and metals last year.

SHENZHEN, April 22 (Xinhua) -- Chinese tech giant Huawei's revenue rose 39 percent year on year to 179.7 billion yuan (26.8 billion U.S. dollars) in the first quarter of this year, the company announced on Monday.

The company's net profit margin in the first quarter was about 8 percent, slightly higher than in the same period last year.