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Trump advises UK Prime Minister Theresa May to sue EU

Theresa  May  has revealed that Trump suggested her to sue EU during a private conversation.  May revealed this on the BBC’s The Andrew Marr Show.

May said: “He told me I should sue the EU.” After being prompted by a surprised Marr, May repeated: “Sue the EU, not go into negotiations with them, sue them.”

India’s trade deficit highest in 5 years

New Delhi, July 14 : India’s trade deficit widened to its highest in more than five years in June, the trade ministry said on Friday.

The deficit is claimed to have been caused by a surge in oil imports despite an increase in merchandise exports.

The trade deficit widened to $16.6 billion that surged 56.61 percent to $12.73 billion. In May the trade deficit stood at $14.62 billion the Ministry of Commerce and Industry said in a statement. India’s gold imports fell 2.8 percent year-on-year to $2.39 billion in June from a year ago, the statement said.

Mexico's president-elect says he'll stop US helicopter deal

AP; Mexico City, Jul 12 :  President-elect Andres Manuel Lopez Obrador has said he will cancel the pending purchase by Mexico's navy of eight armed Lockheed Martin MH-60R helicopters from the US government.

Lopez Obrador mentioned nixing the planned USD 1.2 billion deal as an example of extensive cost-cutting measures his government will undertake.

"That purchase is going to be cancelled because we can't make that expense," he said during a wide-ranging news conference yesterday.

Inflation in India Highest in June; Industrial Production Slows

New Delhi, July 12 : Retail inflation rate accelerated to a five-month high of 5.0 percent in June, government data showed on Thursday, driven by higher fuel prices and a depreciating rupee.

June was the eighth straight month in which inflation was higher than the central bank's medium-term target of 4 percent. Economists polled by news agency Reuters had forecast June's annual increase in the consumer price index at 5.30 percent, compared with May's 4.87 percent. 

Iran Slams India for Not Fulfilling Promised Investments in Chabahar Port Project

Iran on Tuesday criticized India for not fulfilling its promise of making investments in the expansion of the strategically located Chabahar Port.

“It is unfortunate that Indian investment promises for the expansion of Chabahar Port and its connectivity projects have not been accomplished. India is expected to take immediate and necessary measures in this regard if its cooperation and engagement in Chabahar Port are of strategic nature,” Iran’s Deputy Ambassador and Charge d’Affaires Masoud Rezvanian Rahaqi said.

Trump expects UK in turmoil, embassy asks US citizens to keep low profile

The US President Donald Trump, talking to the reporters on Tuesday morning, said that he expects to see the country (UK) in “turmoil” when he lands there for a two-day visit.

Trump spoke to reporters on the south lawn of the White House on Tuesday morning, before boarding Marine One to begin his trip to Europe.

Economic Watch: Trade tension hurts U.S. consumers, say firms

GUANGZHOU/SHANGHAI, July 7 (Xinhua) -- Companies from China and the United States are concerned about the impact of trade tensions between the world's top two economies after the United States began imposing a 25-percent additional tariff on Chinese products worth 34 billion U.S. dollars Friday.

China's customs authority announced that additional tariffs for some imports from the United States worth the same amount, including agricultural products, vehicles and aquatic products, also took effect on the same day.

BRICS think tanks hold seminar on global governance in interests of people

JOHANNESBURG, July 5 (Xinhua) -- More than 120 experts from Brazil, Russia, India, China and South Africa (BRICS) and other southern African countries gathered Wednesday at a seminar here, contributing their wisdom to global governance in the interests of the people.

The theme of the seminar was "Contributing BRICS' Wisdom to Global Governance in the Interests of the People," which reflected the common wish of government leaders, think tank members and corporate executives in the "BRICS Plus" community to promote cooperation and benefit the people.

$34 billion tariff on US goods, but China “will not fire the first shot”

US and China have threatened to impose billions in tariff on 6 July, but China’s finance ministry issued a statement on Wednesday saying that it would not be the first to impose the levy.

“The Chinese government’s position has been stated many times. We absolutely will not fire the first shot, and will not implement tariff measures ahead of the United States doing so.”, stated the ministry.

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