Business

Business & Economy

Gibraltar releases Iranian tanker crew without charge

13 July 2019; DW: Police said the four crew members of the Grace 1 are still under investigation. Their release came as the UK said it would send a second naval frigate to the Persian Gulf amid escalating tensions with Iran.

Police in the British territory of Gibraltar on Friday released all four crew members of an Iranian tanker that was detained on suspicion of illegally transporting oil to Syria.

Taiwan defends US arms deal after China sanctions threat

TAIPEI, Taiwan (AP) — Taiwan on Saturday defended a proposal to purchase $2.2 billion in arms from the U.S., following a Chinese announcement that it would sanction any American companies involved in the deal.

U.S. weapons help strengthen Taiwan’s self-defense in the face of a growing military threat from China, the defense ministry said.

“The national army will continue to strengthen its key defense forces, ensure national security, protect its homeland and ensure that the fruits of freedom and democracy won’t be attacked,” the ministry said in a statement.

Head of Boeing's 737 MAX program to retire: Company

New York, Jul 11 (AFP/PTI) The head of Boeing's embattled 737 MAX program plans to retire, the company said, just as it gears up to persuade regulators to return the plane to the skies after two deadly crashes.

It was the most high profile departure of a senior executive since the aircraft was grounded in mid-March following two crashes that claimed 346 lives.

Turkey: Delivery of Russia’s S-400 hardware begins

12 July 2019; MEMO: First shipment of Russian S-400 missile defence system hardware to Ankara started today, Turkey’s National Defence Ministry said.

“First batch of equipment of S-400 missile defence system, which is procured to meet Turkey’s air and missile defence need, has started to arrive at Murted Air Base in Ankara as of July 12, 2019,” the ministry said on Twitter.

Iran calls on Britain to release seized oil tanker immediately

12 July 2019; MEMO: Iran called on Britain on Friday to immediately release an oil tanker that British Royal Marines seized last week on suspicion it was breaking European sanctions by taking oil to Syria, a foreign ministry spokesman told state news agency IRNA, Reuters reports.

“This is a dangerous game and has consequences … the legal pretexts for the capture are not valid … the release of the tanker is in all countries’ interest,” the spokesman, Abbas Mousavi, said.

US frustrated with lack of balance in trade ties with India: USTR

Washington, Jul 12 (PTI) Reiterating that President Donald Trump and US Trade Representative Robert Lighthizer are frustrated with the lack of balance and reciprocity from India when it comes to trade and tariff, a top Administration official has said that the new round of discussion between the two countries is not open-ended and the US wants things to move quickly.

Trump says cryptocurrency is 'not money'

Washington, Jul 12 (AFP/PTI) Donald Trump expressed his mistrust of cryptocurrency Thursday, saying it was "not money" and warning that those wishing to join the trade would have to abide by banking regulations.

"I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," Trump tweeted.

He added that cryptocurrency, whose electronic nature makes it nearly untraceable, could facilitate illegal activity.

India: Four new courses introduced by JMI, Delhi

New Delhi, Jul 11 (PTI) The Jamia Millia Islamia Thursday introduced four new courses under Entrepreneurship Development Programmes (EDP).

The courses will be run by the varsity's Centre for Innovation and Entrepreneurship and have been introduced in collaboration with the National Small Industries Corporation (NSIC) and the Ministry of Micro, Small and Medium Enterprises (MSME).

Indian budget lacks programmes to revive economy: Cong

New Delhi, Jul 12 (PTI) The Opposition Congress on Friday criticised the Union Budget for 2019-20, saying it lacks any bold programme to revive the economy.

Resuming the debate on the Budget, Wansuk Syiem (Cong) said the budget had dealt a major blow to people by raising excise duty and cess on petrol and diesel by Rs 2 per litre at a time when international oil rates are stable.

"There was no reason for the government to resort to this," she said.

"The Budget has no new bold programme for reviving the economy," she added.

Subscribe to Business