Business

New Delhi, Oct 28 (PTI) Commerce and Industry Minister Suresh Prabhu has said India and the US have exchanged offers for a possible trade deal with a view to resolving issues related to bilateral commerce.

"The negotiations are ongoing. Of course, at this stage they have given an offer and we have also given a counter-offer and we are working on it," he said at an event here Saturday.

The statement assumes significance as India has deferred a notification for hiking import duties on as many as 29 US products.

WASHINGTON, Oct. 26 (Xinhua) -- The U.S. economy grew at an annual rate of 3.5 percent in the third quarter this year, down from 4.2 percent in the previous quarter, the U.S. Commerce Department reported on Friday.

Personal consumption expenditures, which account for more than two thirds of the overall economy, grew at an annual rate of 4 percent in the third quarter, up from 3.8 percent in the second quarter, according to the department.

CAPE TOWN, Oct. 26 (Xinhua) -- A major South African trade union on Friday added its voice to the chorus for lifting the decades-old U.S. embargo against Cuba.

The economic, commercial and financial blockade imposed by the United States against Cuba for almost six decades "is evil, deplorable, unjust, severe and extended system of unilateral sanctions ever applied against any country," the National Union of Mineworkers (NUM) said.

BEIJING, Oct. 26 (Xinhua) -- China's central bank said Friday that it has inked a bilateral currency swap agreement with its counterpart in Japan.

The agreement will allow the two sides to swap a total of 200 billion yuan (about 28.78 billion U.S. dollars) for 3.4 trillion Japanese yen, and vice versa, the People's Bank of China (PBOC) said on its website.

The move was aimed at enhancing financial stability of the two countries and facilitating bilateral economic and financial exchanges, the PBOC said.

By Lalit K Jha

Washington, Oct 26 (PTI) US President Donald Trump said Thursday all American sanctions against Iran will be in full force on November 5, as he signed into law another legislation imposing hard-hitting sanctions on Lebanese militant group Hezbollah.

DALLAS (AP) — American Airlines is struggling more than Delta and United to pass higher jet fuel costs to passengers, and it has dropped far behind its rivals in profits.

All airlines are facing a strong headwind from fuel prices that have surged by more than one-third in the past year. In the third quarter, American recovered just 40 percent of that increase with higher prices, say executives.

MOSCOW, October 24. /TASS/. Thirteen agreements were signed on sidelines of talks between Russian President Vladimir Putin and Prime Minister of Italy Giuseppe Conte.

The Russian Ministry of Natural Resources signed a memorandum of understanding in the environment protection and sustainable development sphere with its Italian counterpart. The Government of Moscow Region inked an agreement with the Italian food company Barilla. The Kaluga Region signed an agreement with Techint.

RIYADH, October 25. /TASS/. Saudi Arabia will soon invest in the Russian-Chinese investment fund (RCIF, a joint venture of the Russian Direct Investment Fund (RDIF) and China Investment Corporation), and the fund will be renamed, head of RDIF Kirill Dmitriev told reporters during the Future Investment Initiative forum.

MOSCOW, October 25. /TASS/. Ankara will begin the deployment of the Russian-made S-400 air defense systems in October 2019, Turkish Defense Minister Hulusi Akar said on Thursday, adding that Ankara had started recruiting military personnel to maintain the complexes.

RIYADH, October 25. /TASS/. Russian Railways will soon submit an application for the construction of railways in Saudi Arabia, head of the Russian Direct Investments Fund (RDIF), a member of the board of directors of Russian Railways, Kirill Dmitriev, told reporters on the sidelines of the Future Investment Initiative forum.