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Business & Economy

EU to set up legal entity to facilitate trade with Iran

UNITED NATIONS, Sept. 24 (Xinhua) -- The European Union (EU) will set up a legal entity to facilitate legitimate financial transactions with Iran in light of the U.S. withdrawal from the international agreement on Tehran's nuclear program and the re-imposition of sanctions, said the EU's foreign and security policy chief Federica Mogherini on Monday.

China, Britain agree to defend int'l system, multilateralism

UNITED NATIONS, Sept. 24 (Xinhua) -- Chinese Foreign Minister Wang Yi and his British counterpart Jeremy Hunt on Monday vowed to defend the current international system and multilateralism amid a slew of challenges.

During their meeting on the margins of the UN General Assembly session, Wang said that China and Britain, both permanent members of UN Security Council, should make their ties a stabilizer in a world fraught with uncertainty.

Rafale Controversy Can Affect Ties, Says France After Hollande's Claims

PARIS; 24 Sep 2018; GANASHAKTI: The French government said on Sunday it feared damage to its relations with India after former president Francois Hollande stirred a massive controversy with his statements on the multi-billion-dollar Rafale fighter jet deal.

Mr Hollande, who left office in May last year, said Friday that French jet manufacturer Dassault Aviation had been given no choice about its local partner in a 2016 deal with India.

Trump and Macron discuss Syria, Iran and trade

Washington, Sep 25 (PTI) US President Donald Trump on Monday held a meeting with his French counterpart, Emmanuel Macron, during which the two leaders discussed the situation in Syria, the aggressive behaviour of Iran and promoting free trade between the US and the European Union (EU).

"The two leaders discussed a wide range of international issues, including the situation in Syria, countering threats posed by Iran, and promoting fair terms of trade between the United States and the European Union," the White House said in a readout of the meeting.

China says can't hold US trade talks with 'knife to the throat'

Beijing, Sep 25 (AFP) China said on Tuesday it was impossible to hold trade talks with the United States while Washington is imposing tariffs that are like "holding a knife to someone's throat".

Speaking a day after Washington activated tariffs on 200 billion in Chinese goods, vice commerce minister Wang Shouwen said China is open to negotiations but that the two sides must treat each other "equally and with respect".

Congress set to fund government, but not Trump’s wall

WASHINGTON; 24 Sep 2018; (AP) — Congress is set to pass a crucial spending bill that averts a government shutdown, but there’s one potential obstacle: President Donald Trump.

Neither party wants the government to close ahead of the midterm elections that will determine control of Congress, but Trump has made clear his frustration at the lack of money for his long-promised wall along the U.S.-Mexico border. He says it is “ridiculous” the wall has yet to be fully funded.

World shares fall on reports China-US trade talks put off

BANGKOK; 24 Sep 2018; (AP) — Shares have fallen in Europe and Asia after China reportedly rebuffed a plan for talks with the U.S. on resolving their dispute over trade and technology.

KEEPING SCORE: Germany’s DAX fell 0.4 percent to 12,382.50 and the CAC 40 in France lost 0.3 percent to 5,479.86. The FTSE 100 in Britain lost 0.2 percent to 7,472.33. The futures contracts for the Dow Jones industrial average and the S&P 500 both fell 0.2 percent, auguring a slow start on Wall Street.

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