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Business & Economy

China’s trade with US sinks in November amid tariff war

BEIJING (AP) — China’s trade with the United States sank again in November as negotiators worked on the first stage of a possible deal to end a tariff war.

Customs data on Sunday showed exports to the United States fell 23% from a year earlier while imports of American goods were off 2.8%.

Exports to some other countries including France rose, helping to offset the loss.

Total Chinese exports were off 2.5% from a year earlier despite weakening global demand while imports were up 0.2%.

Mexico, US, Canada trade talks continue in Washington

Washington, Dec 7 (AP/PTI) Mexico's top trade negotiator wrapped up an 11-hour meeting with his US counterpart Friday night, saying they had not finalized a new trade agreement for Mexico, United States and Canada.

"We are working on all the issues. It is not easy, but we are working well, Jesus Seade told reporters as he left the office of U.S. Trade Representative Robert Lighthizer.

He said they might meet again Saturday.

Trump calls on World Bank to stop lending to China

Washington, Dec 7 (AFP/PTI) US President Donald Trump lashed out at the World Bank on Friday, blaming the international financial institution for lending money to China.

"Why is the World Bank loaning money to China? Can this be possible? China has plenty of money, and if they don't, they create it. STOP!" Trump wrote on Twitter.

India: Govt working on more measures to boost economy: FM

New Delhi, Dec 7 (PTI) Finance Minister Nirmala Sitharaman on Saturday said the government is working on more measures to revive the sagging economy.

The GDP growth slowed down to more than six-year low of 4.5 per cent in the second quarter of the current fiscal from 5 per cent recorded in the first quarter.

The government has taken several measures during August and September to boost the economy, she said at the HT Leadership Summit here.

Argentina’s Fernandez signals policy shifts with new cabinet, economy chief

BUENOS AIRES, Dec 7 (NNN-AGENCIES) — Argentine President-elect Alberto Fernandez unveiled his cabinet and new central bank chief on Friday evening, laying out his core team days before the centre-left leader takes office facing a stalled economy, rising debt fears and painful inflation.

Fernandez named Martin Guzman, 37, as economy minister, who will need to help steer debt restructuring negotiations with international creditors and the International Monetary Fund over around $100 billion (£78billion) in sovereign debt.

Greece expels Libyan envoy over Turkey maritime deal

ATHENS, Dec 7 (NNN-AGENCIES) — Greece’s foreign ministry on Friday said it was expelling the Libyan ambassador for failing to disclose the contents of a disputed maritime jurisdiction deal with Turkey that has raised hackles in the region.

“I regret to announce that the Libyan ambassador was summoned to the ministry this morning and was informed of his expulsion,” Foreign Minister Nikos Dendias told reporters, adding that the envoy had been given 72 hours to leave Greece.

Israel, Czech Republic sign $125m missile defence deal

06 Dec 2019; MEMO: The Israeli government yesterday signed a deal with the Czech Republic to sell radar systems used in the Iron Dome missile defence system.

The deal, inked by the two country’s respective defence ministries, is worth an estimated $125 million, reported AFP, with delivery set for 2021-2023.

India: India trying to set up intellectual property office on US model

New Delhi, Dec 6 (PTI) The government said in Rajya Sabha on Friday said it is trying to set up a fully computerised intellectual property rights (IPR) office in the country which is similar to the US model where everything is done online.

Responding during Question Hour, Commerce Minister Piyush Goyal said the government has brought a lot of "sanity" to the working of eight areas of IPR, be it patent, copyright or trademark.

Iran self-sufficient in producing military hardware: Iran top commander

TEHRAN, Dec 6 (NNN-Xinhua) — Chief of Staff of Iran Armed Forces Mohammad Hossein Baqeri said that the Islamic republic has achieved self-sufficiency in building military equipment needed to defend the country.

Iran is becoming less dependent on foreigners in producing defense-related hardware thanks to its universities as well as knowledge-based companies, which are actively designing and manufacturing military equipment, Baqeri was quoted as saying by Press TV.

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