Business

02 July 2020; MEMO: Iranian cargo ships in Lebanese waters have been prevented from docking and unloading over fears the move may lead to the extension of US sanctions onto the Mediterranean state, according to a report by Al-Hurra.

The imports include foodstuffs, medicine and fuel, among other items and are intended to help alleviate the deteriorating living standards in Lebanon as the country faces its worst economic crisis since the end of the civil war in 1990.

02 July 2020; MEMO: Saudi Arabia has taken another step in its long-held ambition to develop a domestic arms industry. An agreement has been signed in Riyadh between government officials and industry bosses that will see the Kingdom reach one of its key objectives.

The deal between the Saudi General Directorate of the Border Guard and the Military Industries Corporation (MIC) will see a new vehicle, known as the Dahna, being built in the country.

Washington, Jul 2 (PTI) Democratic presidential candidate and former US vice president Joe Biden has said that he will lift the temporary suspension on H-1B visas, the most sought-after by Indian IT professionals, if he wins the November presidential elections.

On June 23, in a huge blow to Indian IT professionals eyeing the US job market, the Trump administration suspended the H-1B visas along with other types of foreign work visas until the end of 2020 to protect American workers in a crucial election year.

New Delhi, Jul 2 (PTI) Private train operations in the country will begin by April 2023, and the ticket fares in these trains will be competitive with airfares on similar routes, the Railways said Thursday.

Addressing a press conference online, Railway Board Chairman VK Yadav said that private players in passenger train operations will mean a quantum jump in technology and coaches that run at higher speeds.

KUALA LUMPUR, July 2 (NNN-BERNAMA) — The Ministry of Plantation Industries and Commodities will file legal action against the European Union over alleged discriminatory anti-palm oil campaign through a dispute settlement mechanism under the World Trade Organisation (WTO).

Its minister, Datuk Dr Mohd Khairuddin Aman Razali said the legal action, in collaboration with the Attorney General’s Chamber, was based on principle and justification, as well as in line with the trade practices underlined by the WTO.

CORFU (Greece), July 2 (NNN-AGENCIES) — Greece reopened flights to its flagship island destinations as it raced to salvage a portion of the annual tourism season that is vital to its economy.

Over 100 flights are expected at 14 regional airports that include the popular islands of Corfu, Santorini, Mykonos, Rhodes and Crete, airport manager Fraport said.

All airports in the country are now receiving international flights and the ports of Patras and Igoumenista will again receive ferries from Italy.

HAVANA, July 2 (NNN-Xinhua) — Cuba partially reopened its borders to international tourists in keeping with measures adopted by the government as part of the country’s post-pandemic recovery plan.

On March 31, the Caribbean nation announced the suspension of international flights and asked international boats to withdraw from its territorial waters as a precautionary measure to slow the spread of the coronavirus nationwide.

RAMALLAH, July 2 (NNN-WAFA) – The Palestinian economy may lose more than 3.5 billion U.S. dollars annually, if Israel implements its plan to annex parts of the West Bank, a senior Palestinian official said.

Mazen Ghoneim, head of the Palestinian Water Authority, told official Palestinian television that, the Palestinians will lose about 600 million cubic metres of water per year, and at least 73,000 job opportunities, if Israel annexes the Jordan Valley in the West Bank.

BEIRUT, July 2 (NNN-NNA) – Lebanese Defence Minister, Zeina Akar, accused the International Monetary Fund (IMF) of basing its support for Lebanon on political considerations, LBCI TV channel reported.

“The IMF decided not to open up to our government, even if it announces readiness to offer great support, when structural reforms are achieved,” Akar said.

Lebanon must not wait for foreign aid, she added, noting, officials can save the country if they work seriously on structural reforms without wasting more time.

BEIJING (AP) — China on Wednesday demanded Washington stop “oppressing Chinese companies” after U.S. regulators declared telecom equipment suppliers Huawei and ZTE to be national security threats.

The Federal Communications Commission on Tuesday blocked the Chinese vendors from receiving subsidies from a government fund, stepping up efforts to limit their access to the U.S. market.

A foreign ministry spokesman accused Washington of “abusing state power” to hurt Chinese companies “without any evidence.”