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Business & Economy

US, China begin new round of tariff war negotiations

BEIJING (AP) — American and Chinese trade negotiators began more talks Wednesday aimed at ending a tariff war after Treasury Secretary Steven Mnuchin said U.S. officials might be moving toward a decision on whether to make a deal with Beijing.

No agreements have been announced but both governments say they are making progress. That has helped to reassure jittery global financial markets.

Washington is pressing Beijing to roll back industry development plans it says are based in part on stolen technology and that violate its market-opening commitments.

Trump's chief of staff urges lawmakers to approve USMCA

WASHINGTON, April 30 (Xinhua): White House acting Chief of Staff Mick Mulvaney on Tuesday called on the Democrats to approve a new trade pact that the United States negotiated with Canada and Mexico.

"You could stay status quo ... which is just NAFTA. You could withdraw from NAFTA, which the president has talked about many, many times," Mulvaney said at the Milken Institute Global Conference in California.

India's public debt increased by 57% during PM Modi's rule: Congress

New Delhi, April 30; GANASHAKTI: Congress communications chief Randeep Singh Surjewala on Tuesday attacked Prime Minister Narendra Modi-led NDA government at Centre saying the government has increased India's public debt by 57 per cent to 83 lakh 40 thousand and 26 crore rupees in just 4 years and 9 months of its rule.

China upgrades 5th edition of its currency

BEIJING, April 29 (Xinhua) -- The People's Bank of China (PBOC), the central bank, has upgraded the fifth edition of the renminbi (RMB), the Chinese currency, and on Monday announced the issuing of the new batch from Aug. 30.

The new issuance will include notes with a face value of 50 yuan (about 7 U.S. dollars), 20 yuan, 10 yuan and one yuan, and coins valued one yuan, 50 fen and 10 fen.

Compared with the current series in circulation, the new batch will see brighter colors and adjusted patterns with enhanced anti-conterfeiting feature, a PBOC official said.

Trump, Erdogan discuss Turkey's purchase of S-400

WASHINGTON, April 29 (Xinhua) -- U.S. President Donald Trump spoke over phone with his Turkish counterpart Recep Tayyip Erdogan on Monday over the issue of Ankara's purchase of S-400 missile defense system, said the White House.

Trump and Erdogan discussed trade, security concerns in northern Syria, and Turkey's planned purchase of the Russian made S-400 system, according to a White House statement.

Indian DM awards contracts for 8 anti-submarine shallow water crafts

NEW DELHI, April 30 (Xinhua) -- India's defense ministry has given a contract to build eight anti-submarine warfare shallow water crafts for Indian navy to state-owned Garden Reach Shipbuilders and Engineers Limited (GRSE), officials said Monday.

"The contract worth INR 6,311.32 crore (903 million U. S. dollars) was signed today by joint secretary and acquisition manager (Maritime Systems) Ravi Kant on behalf of Ministry of Defence and S S Dogra, Director (Finance), on behalf of GRSE, in New Delhi," a statement issued by defense ministry said.

China to contribute more to improvement of global governance

HAVANA, April 29 (Xinhua) -- China will assume greater responsibilities with an aim to make more contributions to the improvement of global governance, China's Ambassador to Cuba Chen Xi said on Monday.

"We are aware of our responsibility to contribute to a new world order, just and orderly global governance," the diplomat said in a conference with experts and academics from Cuba's Center for International Policy Research (CIPI). "This is a fundamental principle for Chinese diplomacy."

Australia’s Nine media sells 170 newspapers for $81 million

CANBERRA, Australia (AP) — A major Australian media company announced on Tuesday it has agreed to sell 170 regional and rural newspapers for 115 million Australian dollars ($81 million).

Nine Entertainment said it signed an agreement to sell the newspapers to shareholder Antony Catalano and Thorney Investment Group. The sale is to be completed by June 30.

Catalano last year took court action in a failed attempt to block the merger of Nine, a television network, with Fairfax Media, Australia’s largest newspaper publisher after News Corp.

Trump again goes after India on trade, says it slaps 'big tariffs'

Washington, Apr 29 (PTI) President Donald Trump has criticised India's "big tariffs" on American paper products and the iconic Harley-Davidson bikes, saying the US has been losing billions of dollars to countries like India, China and Japan.

Addressing a Republican political rally in Wisconsin state's Green Bay city on Sunday, Trump alleged that every country has been ripping off America for years.

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