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U.S. Wants Free But Fair And Balanced Trade – Mnuchin

U.S. Wants Free But Fair And Balanced Trade – Mnuchin

BADEN BADEN, Germany – The United States remains committed to free trade but wants to re-examine some trade deals and correct their excesses, U.S. Treasury Secretary Steven Mnuchin said on Saturday after G20 finance chiefs backtracked on past commitments about trade.
Making only a token reference to trade in their communique, finance ministers and central bank [...]

March 25th, 2017 | Posted in Business | Read More »

India Looking To Allow Foreign Ownership Of Local Airlines

India Looking To Allow Foreign Ownership Of Local Airlines

MUNICH – India’s civil aviation secretary said on Friday it was not possible for a foreign airline to fully own an Indian carrier, but will examine whether it can be done through an investment partner.
Rajiv Nayan Choubey also said the government had not received any proposal from Qatar Airways to start a local airline.
Last week, [...]

March 25th, 2017 | Posted in Business | Read More »

Apple CEO Tim Cook Calls For More Global Trade With China

Apple CEO Tim Cook Calls For More Global Trade With China

BEIJING – Apple Chief Executive Tim Cook expressed support for globalisation and said China should continue to open its economy to foreign firms, while speaking at a forum in Beijing on Saturday.
“I think it’s important that China continues to open itself and widens the door if you will,” said Cook, speaking at the government-sponsored China [...]

March 25th, 2017 | Posted in Business | Read More »

Oil Prices Fall To Three-Month Low But Canadians Still Getting Shafted With High Gas Prices

Oil Prices Fall To Three-Month Low But Canadians Still Getting Shafted With High Gas Prices

SEOUL – Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as US drillers kept adding rigs.
But Canadians are still being shafted with high gas prices, especially here in BC where gas prices have climbed back to the $1.38 a liter.
Brent crude had fallen [...]

March 18th, 2017 | Posted in Business | Read More »

China Warns Of Trade War If US Imposes Tariffs On Its Goods

China Warns Of Trade War If US Imposes Tariffs On Its Goods

BEIJING – China has warned of a trade war with the US if the Trump administration decides to ignore WTO rulings and unilaterally imposes tariffs on its goods.
“If any member ignores WTO rules for its own interests and rejects WTO rulings on trade disputes, multilateral trade mechanisms would become meaningless and the trade wars of [...]

March 18th, 2017 | Posted in Business | Read More »

SBI Customers Brace For Fees Related To 10-Fold Hike In Minimum Balance

SBI Customers Brace For Fees Related To 10-Fold Hike In Minimum Balance

NEW DELHI – The State Bank of India has decided to increase nearly 10 times the minimum balance limit required to maintain a savings account from April 1, a move that will affect 31 crore depositors, including pensioners and students.
The requirement for monthly average balance has been increased to Rs 5,000 from Rs 500 for [...]

March 14th, 2017 | Posted in Business | Read More »

Netflix Inks Pact With Airtel, Vodafone, Videocon D2H For Indian Market

Netflix Inks Pact With Airtel, Vodafone, Videocon D2H For Indian Market

NEW DELHI – Digital streaming service Netflix said it has partnered with Airtel, Videocon d2h and Vodafone in India as it looks to ramp up its presence in the Indian market.
The US-based firm, which is up against strong competition from rivals like Amazon Prime, HotStar and others in the Indian market, is investing aggressively in [...]

March 14th, 2017 | Posted in Business | Read More »

Mercedes Recalls One Million Vehicles Worldwide

Mercedes Recalls One Million Vehicles Worldwide

DETROIT – Mercedes is recalling about one million cars and SUVs worldwide because a starter part can overheat and cause fires.
The recall covers certain C-Class, E-Class and CLA cars and GLA and GLC SUVs, all from 2015 through 2017, including nearly 308,000 in the US.
The German automaker reported 51 fires worldwide, with about 30 in [...]

March 14th, 2017 | Posted in Business | Read More »

WhatsApp Eyes Biz App Segment In India

WhatsApp Eyes Biz App Segment In India

NEW DELHI – WhatsApp, the Facebook-owned instant messaging app, is working on a new platform targeted at small businesses, and will use India as the testing ground for the global launch of a product it sees as a potential money spinner.
‘WhatsApp for Business,’ meant for commercial messaging through which WhatsApp wants to make money, is [...]

March 4th, 2017 | Posted in Business | Read More »

India Needs $5.15 Trillion In Infra By 2030 To Sustain Growth, Says ADB

India Needs $5.15 Trillion In Infra By 2030 To Sustain Growth, Says ADB

NEW DELHI – Asian nations including India will require a massive infusion of $26 trillion in infrastructure till 2030 to sustain the economic growth momentum, Asian Development Bank said in a report on Tuesday. The report advocated reforms and regulatory changes to make mega projects attractive for private investors.
India alone will require investments of $5.15 [...]

March 4th, 2017 | Posted in Business | Read More »