Business

BUENOS AIRES, Nov 27 (NNN-AGENCIES) — Argentina’s president-elect Alberto Fernandez said he would renounce the remaining $11 billion tranche of the country’s International Monetary Fund loan as soon as he takes office next month.

Outgoing resident Mauricio Macri agreed a massive $57 billion loan loan package last year, but the austerity measures he imposed failed to right the economy.

Tehran, Nov 26, IRNA – Iran's Minister of Industry, Mining and Trade Reza Rahmani said on Tuesday that if his ministry makes sure that a certain item of goods produced in Iran has a reasonable quality, the government is to ban it's import.

Reza Rahmani said in a meeting about domesticization of electrical, electronic, and telecommunication devices that this approach is acceptable and is the main strategy for solving problems like unemployment and inflation.

26 Nov 2019; MEMO: Activists are fundraising for legal action to stop the European Union (EU) from trading with Israel’s illegal settlements in the occupied Palestinian territory.

The organisers of the initiative, who describe themselves as “a coalition of anti-racist associations and committees within the Palestine solidarity movement in Europe”, are hoping to pressure the EU into banning trade with settlements.

COLOMBO, Sri Lanka, Nov 26 (NNN-SLNEWS) – Sri Lanka’s Central Bank chief, Indrajit Coomaraswamy, has tendered his resignation, and will step down from the post next month, local media reports said here today (Tuesday).

Coomaraswamy tendered his resignation, citing personal reasons, and is expected to function till mid Dec.

He was appointed as the Central Bank chief in July, 2016, replacing Arjuna Mahendran, who faced charges of being involved in a mega bond scam.

Beijing, Nov 26 (AP/PTI) China's Commerce Ministry says the lead envoys in trade talks between China and the US spoke on the phone and agreed to continue to work toward a preliminary agreement for resolving their tariff war.

The Chinese Commerce Ministry said in a brief notice that Vice Premier Liu He spoke with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin early Tuesday Beijing time.

Colombo, Nov 25 (PTI) Sri Lanka will work with India and it won't do anything that will harm its interests, newly elected President Gotabaya Rajapaksa has said ahead of his visit to New Delhi later this week.

Rajapaksa, who is considered pro-China, said he wanted Sri Lanka to be a "neutral country" and work with all the countries.

"We will work with India as a friendly country and won't do anything that will harm India's interests," said Rajapaksa, who will travel to New Delhi on November 29 on his first official trip abroad as Sri Lankan President.

NEW DELHI, Nov. 26 (Xinhua) -- The first consignment of 6,090 tonnes of onions procured by the Indian government from Egypt will reach Mumbai port in the first week of December, officials said on Tuesday.

"Metals and Minerals Trading Corporation of India (MMTC) has placed an order for the first consignment of 6090 MT of onions from Egypt which will be arriving at Nhava Sheva (JNPT), Mumbai," said a statement from India's federal ministry of food and consumer affairs.

KUALA LUMPUR, Nov 25 (NNN-BERNAMA) — Malaysia External Trade Development Corporation (MATRADE) has identified various Malaysian products which could potentially fill in the gaps arising from the United States-China trade conflict.

Deputy chief executive officer Mohd Mustafa Abdul Aziz said the product categories include electrical and electronics (E&E), machinery and equipment, optical and scientific products, petroleum as well as chemicals and chemical products.

SACHEON (South Korea) Nov 25 (NNN-BERNAMA) — Malaysia is interested with the progress achieved by South Korea in the aerospace industry,  Prime Minister Tun Dr Mahathir Mohamad said.

Speaking during his visit to Korea Aerospace Industries (KAI) facility here,  the prime minister expressed his particular interest in the country’s fighter jet programme.

“I have always been interested in fighter planes and indigenous planes. I want to see how it perform and advancement of your aircraft industry, ” he told KAI’s CEO Ahn Hyun-ho who received him at the facility earlier.

BAGHDAD, Nov 25 (NNN-NINA) – Iraqi Foreign Minister, Mohammed al-Hakim, hailed relations between China and Iraq, describing the bilateral ties as “excellent.”

Al-Hakim made the remarks during a meeting with Chinese Ambassador, Zhang Tao, where he praised the stable and developed Iraqi-Chinese relations, said a statement by the Chinese embassy in Iraq.