Business

Brasilia, Nov 14; PTI/GANASHAKTI: Prime Minister Narendra Modi held in-depth talks with Chinese President Xi Jinping here and the two leaders have agreed to maintain close contact on matters relating to trade and investment to further deepen and add new vigour to India-China relations.

During the meeting held on the margins of the 11th BRICS Summit on Wednesday, prime minister Modi said there was a "new direction and new energy" in bilateral ties after their second informal summit in Chennai last month.

New Delhi, Nov 15 (PTI) The Supreme Court on Friday paved the way for ArcelorMittal takeover of debt-ridden Essar Steel for Rs 42,000 crore and set aside the July 4 NCLAT order giving equal status to financial creditors and operational creditors.

A bench headed by Justice R F Nariman clarified that financial creditors enjoy primacy over operational creditors and the adjudicating authority cannot interfere with the decision approved by the committee of creditors.

Thiruvananthapuram, Nov 14 (PTI) Union Minister Dharmendra Pradhan on Thursday heaped praise on the LDF government in Kerala and said it is a model for other BJP, non-BJP-ruled states on implementation of Central projects.

He thanked the state government for the successful implementation of the Gas Authority of India Ltd (GAIL) pipeline project.

The Union minister of petroleum, natural gas and steel was speaking to the media after he met chief minister Pinarayi Vijayan at his office here.

BRASILIA, Nov 14 (NNN-Xinhua) — Business leaders from the BRICS bloc of emerging economies called for stronger integration among member countries to deepen economic cooperation amid rising protectionism.

Integration “is a necessity and a historic trend, and there is no way to stop it,” Xu Lirong, a Chinese member of the BRICS Business Council, said at this year’s BRICS business forum.

BRUSSELS, Nov 14 (NNN-AGENCIES) — Britain will lose influence in international affairs and become a “second-rate player” after it leaves the European Union, European Council President Donald Tusk said.

Backers of Britain’s 2016 vote to exit the EU, the world’s largest trading bloc, say that the country – the world’s fifth largest economy – will achieve a new global status unshackled from EU rules and closer to the United States.

Tusk said only a united Europe could confront an assertive China and play an effective global role.

14 Nov 2019; MEMO: Qatar’s cabinet yesterday approved a draft law regulating press, publications, media activities and arts and referred it to the Shura Council.

The draft law will replace Law No. 8 of 1979 on Publications, and Decree Law No. 16 of 1993 on the Regulation of advertising, public relations and artistic production and works.

In May, Emir of Qatar Sheikh Tamim Bin Hamad Al Thani issued a law on the establishment of a Media City.

Mumbai, Nov 14 (PTI) Headline inflation is bound to rise further to 5 per cent for November, but despite the pinch in price rise, the Reserve Bank will go for two consecutive rate cuts on growth concerns, a report said on Thursday.

The consumer price inflation fastened to 4.62 per cent for October in official data released on Wednesday, resulting in concerns over RBI's rate stance, given that the central bank is mandated to keep the number at 4 per cent.

MANILA, Nov 13 (NNN-PNA) – Tourist arrivals in Asia grew faster than anywhere else in the world, a new Asian Development Bank (ADB) report said today (Wednesday).

The report, titled The Asian Economic Integration Report 2019/2020: Demographic Change, Productivity, and the Role of Technology, also disclosed that, international tourism receipts hit a record 368 billion U.S. dollars in 2017.

“Inbound tourists from both Asia (up by 10.3 percent from 2016) and non-Asia (up by 8.2 percent) contributed to the high growth in Asian tourism,” the report said.

13 Nov 2019; MEMO: The Israeli government slammed yesterday’s European court ruling on labelling settlement produce as a form of discrimination and vowed to thwart its implementation.

In a much-anticipated decision, the European Court of Justice (ECJ) decided that European Union countries must identify products made in Israeli settlements in the occupied Palestinian territory.

13 Nov 2019; MEMO:Kuwait’s Minister of Public Works and Housing Affairs, Janan Boushahri, yesterday announced her resignation as she was being questioned at the country’s National Assembly, official news site KUNA  reported.

“From my rostrum, I announce my resignation because, unfortunately, companies and influential people are stronger than the right,” Boushahri said.