Business

Business & Economy

China criticizes 'negative content' in US defense bill

Beijing, Jun 28 (AP/PTI) Beijing on Friday criticized "negative content" about China in legislation before the U.S. Congress, saying it would further damage relations already roiled by disputes over trade and technology.

Foreign ministry spokesman Geng Shuang said the draft National Defense Authorization Act, if passed, would undermine efforts to mutually overcome obstacles.

"We express firm opposition to the U.S. Senate's approval of the act containing negative content related to China," Geng told reporters at a daily briefing.

S-400 missile deal didn 't figure in Modi-Trump talks

Osaka, Jun 28; PTI/GANASHAKTI: India Friday said its decision to purchase S-400 missile defence system from Russia did not figure during the talks between Prime Minister Narendra Modi and US President Donald Trump though they discussed ways to step up the bilateral military cooperation.

The S-400 is known as Russia's most advanced long-range surface-to-air missile defence system. China was the first foreign buyer to seal a government-to-government deal with Russia in 2014 for the system.

India: Sensex ends lower as trade frictions haunt G-20 meet

Mumbai, Jun 28 (PTI) Equity benchmarks nursed losses Friday as investors remained cautious ahead of the crucial US-China trade talks on the sidelines of the G-20 meet.

Domestic trading sentiment was also at a low ebb following tightening of mutual fund norms by regulator Sebi, and the RBI recommending extra vigil regarding non-banking finance companies (NBFCs), traders said.

After a choppy session, the 30-share BSE Sensex settled 191.77 points, or 0.48 per cent, lower at 39,394.64, dragged by index heavyweights RIL, HDFC Bank, ICICI Bank and TCS.

India: Fiscal deficit touches 52 pc in first 2-months

New Delhi, Jun 28 (PTI) The government's fiscal deficit touched 52 per cent of the budget estimate for the full year in the first two months of 2019-20.

In absolute terms, the fiscal deficit or gap between expenditure and revenue, was Rs 3,66,157 crore, as per the data released by the Controller General of Accounts (CGA).

The fiscal deficit was 55.3 per cent of 2018-19 budget estimate in the year-ago period.

Putin invites Trump to Russia to mark war anniversary

Osaka, Jun 28 (AFP/PTI) President Vladimir Putin on Friday invited Donald Trump to Russia in May to mark the 75th anniversary of the victory over Adolf Hitler, according to top foreign policy advisor Yury Ushakov.

Trump responded in a "very positive manner," said Ushakov, according to rolling news channel Russia 24.

Anti-Iranian sanctions not discussed at meeting on nuclear deal — Russian senior diplomat

VIENNA, June 28. /TASS/: The remaining parties to the Iran nuclear deal are not looking to impose anti-Iranian sanctions in response to its reduction of commitments under the deal, Russian Deputy Foreign Minister Sergey Ryabkov said on Friday.

The Joint Commission of the Joint Comprehensive Plan of Action (JCPOA) met on Friday in Vienna ahead of the expiration date of the 60-day deadline set by Tehran for other parties to the deal.

Report: Apple to shift assembly of Mac Pro from US to China

SAN FRANCISCO (AP) — Apple will manufacture its new Mac Pro computer in China, shifting away from a U.S. assembly line it had been using for that product in recent years, according to a report published Friday.

The company intends to assemble the new Mac Pro in a factory near Shanghai, according to The Wall Street Journal , which cited unidentified people familiar with the plan.

Apple issued a statement saying the new Mac Pro will be designed and engineered in California, but wouldn’t say where it will be assembled.

Rebuked by many, Saudi crown prince feted at G20 summit

OSAKA, Japan (AP) — For many he’s an international pariah, but you wouldn’t know it by the lavish reception Saudi Crown Prince Mohammed bin Salman has received at the G-20 summit this week.

He beamed as he stood front and center, sandwiched between President Donald Trump and Japanese Prime Minister Shinzo Abe, for a group photo. He exchanged an impish grin as he sat down next to Russian President Vladimir Putin. He posed with South Korean President Moon Jae-in and a group of flag-waving kids ahead of an earlier signing ceremony for $8 billion in deals.

EU, South American bloc strike long-sought free trade deal

BUENOS AIRES, Argentina (AP) — South America’s Mercosur bloc and the European Union struck a free-trade deal Friday after two decades of negotiations that concluded amid global trade tensions and rising protectionism.

The agreement announced by both sides came as trade talks between the EU and the United States have stalled with the Trump administration threatening to impose tariffs on all autos, a major European export to the U.S.

Abe’s G-20 show eclipsed by Trump-China trade talks, tweets

OSAKA, Japan (AP) — A summit of the Group of 20 on Saturday was largely eclipsed by President Donald Trump’s talks with his Chinese counterpart Xi Jinping and by Trump’s announcement via Twitter that he wants to meet with North Korean leader Kim Jong Un.

The day’s agenda kicked off with a brief meeting on promoting the economic empowerment of women, one of Japanese Prime Minister Shinzo Abe’s missions since he took office in late 2012.

Subscribe to Business