Business

Business & Economy

No breakthrough for far-right in European election

31 May 2019; DW: Support for extremist parties remains limited, with signs of protest voting around single issues.

Italy’s deputy prime minister, Matteo Salvini, said this week that "Europe is changing." The leader of the far-right League party hailed the results of elections to the European Parliament, referring to the success of parties led by France’s Marine Le Pen and Britain’s Nigel Farage as well as his own.

India: Raj govt bans ads, sale of e-cigarettes

Jaipur, May 30 (PTI) The Rajasthan government has decided to ban production, distribution, advertisement and sale of e-cigarette in the state.

The decision, which comes a day before the World No Tobacco Day, will be an important step to curb addiction among youths, Chief Minister Ashok Gehlot said in a statement.

Gehlot said the Congress had promised to take steps to curb use of tobacco among youths in its election manifesto and the step will prove effective.

India: New team blend of youthful energy, experience: PM Modi

New Delhi, May 30 (PTI) Prime Minister Narendra Modi Thursday described his new council of ministers as a blend of youthful energy and administrative experience.

Soon after President Ram Nath Kovind administered oath to Modi and the council of ministers, the PM in a tweet said the team is a "blend of youthful energy and administrative experience."

He said it has people who have excelled as parliamentarians and those who have had distinguished professional careers.

"Together, we will work for India's progress," he said.

India: List of portfolios given to Ministers of State

New Delhi, May 31 (PTI) Following is the list of portfolios allocated to Ministers of State;

1. Faggan Singh Kulaste: Minister of State in the Ministry of Steel.

2. Ashwini Kumar Choubey: Minister of State in the Ministry of Health and Family Welfare.

3. Arjun Ram Meghwal: Minister of State in the Ministry of Parliamentary Affairs; and Minister of State in the Ministry of Heavy Industries and Public Enterprises.

4. General (Retd) V K Singh: Minister of State in the Ministry of Road Transport and Highways.

Cargo ship carrying old Canadian waste pulls away from Philippines

MANILA, May 31 (Xinhua) -- The cargo ship commissioned by the Canadian government to repatriate truckloads of garbage that Canada transported to the Philippines in batches from 2013 pulled away from the country on Friday morning, a port official said.

"Finally, the containers of garbage transported from Canada and stored at the Subic Bay Freeport for several years have been pulled out as of today, May 31, 2019," Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma Eisma said in a statement.

"U.S. rebuilt China" claim over-exaggerated

BEIJING, May 30 (Xinhua) -- The "U.S. rebuilt China" claim touted by American politicians makes no sense both in theory and practice, an official said in an interview with Xinhua.

Saying the fallacy was over-exaggerated and a fanciful illusion, Fang Aiqing, deputy director of the economic committee of the Chinese People's Political Consultative Conference National Committee said China's development was a result of the leadership of the Communist Party of China, the hard work of the Chinese people and continuous reform and opening-up.

Russia ready to facilitate agreement between Iran, Persian Gulf states

TOKYO, May 31. /TASS/: Moscow is ready to facilitate a non-aggression pact between Iran and other Persian Gulf states, Russian Foreign Minister Sergey Lavrov told reporters on Friday.

"I think, Tehran’s initiative on signing a non-aggression pact is a step in [the right] direction. I know that not everyone, but a number of member countries of the Gulf Cooperation Council are willing to consider the initiative. We will be ready to facilitate this process," Lavrov pointed out.

Lavrov slams US allegations about nuclear tests in Russia as absurd

TOKYO, May 31. /TASS/: The United States’ allegations that Russia is conducting nuclear tests are just absurd speculations that the Preparatory Commission for the Comprehensive Nuclear-Test-Ban Treaty Organization has proved as baseless, Russian Foreign Minister Sergey Lavrov said following a meeting with his Japanese counterpart Taro Kono on Friday.

"As for allegations about Russia conducting nuclear threats, representatives of the Comprehensive Nuclear-Test-Ban Treaty Organization and credible US experts have already proved these speculations as absurd," he pointed out.

China factory activity falls contracts in May amid dispute

BEIJING (AP) — China’s factory activity fell into contraction territory in May amid an ongoing trade dispute with the U.S. that has seen higher tariffs slapped on Chinese exports.

The National Bureau of Statistics and an industry group, the China Federation of Logistics & Purchasing, said Friday the composite purchasing managers’ index of China dropped to 49.4 in May, down from 50.1 in April on a 100-point scale, marking a three-month low.

Any reading below 50 shows that activity is contracting.

Uber’s Q1 losses reach $1B despite revenue growth

NEW YORK (AP) — Uber is continuing to bleed money even as it posts dramatic revenue growth.

In its first financial report since its lackluster debut on Wall Street, Uber said Thursday that its revenue rose to $3.1 billion in the first quarter of 2019, up 20% from the same time last year, beating expectations of analysts polled by FactSet. But the ride-hailing giant posted $1 billion in losses as it fights to maintain its share of the market.

Subscribe to Business