World

Trump reimposes tariffs on raw Canadian aluminum, Canada promises retaliation
27Aug By Desk TeamNo Comments
World

Trump reimposes tariffs on raw Canadian aluminum, Canada promises retaliation

President Donald Trump on Thursday moved to reimpose 10per cent tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups. CLYDE, Ohio/OTTAWA: President Donald Trump on Thursday moved to reimpose 10per cent tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups. Canada pledged retaliation as tensions heightened between the close allies just weeks after a new continental trade deal between the United States, Mexico and Canada came into effect. During a speech at a Whirlpool Corp washing machine factory in Ohio to tout his "America First" trade agenda, Trump said he signed a proclamation reimposing the "Section 232" na...
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COVID-19 keeps Rohingya indoors on ‘genocide’ anniversary
27Aug By Desk TeamNo Comments
World

COVID-19 keeps Rohingya indoors on ‘genocide’ anniversary

DHAKA: Rohingya Muslim refugees in Bangladesh held a "silent protest" on Tuesday (Aug 25) to mark the third anniversary of clashes between Rohingya insurgents and Myanmar security forces that set off a huge movement into Bangladesh of people seeking safety. More than a million Rohingya live in the world's largest refugee settlement in southern Bangladesh, with little prospect of returning to Myanmar, where they are mostly denied citizenship and other rights. The refugees had said that because of the novel coronavirus they would not hold a mass gathering to mark what they call "Remembrance Day". Authorities say 88 cases of the virus have been found in the camps and six people have died. Three years ago, Rohingya insurgents raided 30 police posts and an army base in Myanmar's Rakhin...
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Saudi Aramco’s profit plunges, sees signs of oil market recovery
27Aug By Desk TeamNo Comments
Market, World

Saudi Aramco’s profit plunges, sees signs of oil market recovery

Saudi Arabian state oil group Aramco on Sunday reported a 73.4per cent fall in second-quarter net profit, a steeper drop than analysts had expected, hit by lower crude oil prices and declining refining and chemicals margins, as the coronavirus hit demand. DUBAI: Saudi state oil group Aramco's profit plunged 73per cent in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world's biggest oil exporter. All major oil companies have taken a hit in the second quarter as lockdowns to contain the coronavirus limited travel, which reduced oil consumption and sent prices tumbling to levels not seen in nearly two decades. Aramco, which listed in Riyadh last year in a record US$29.4 billion flotation, said the rapid spread of C...
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Serbia chooses links with China to develop economy, telecoms despite US warning campaign
27Aug By Desk TeamNo Comments
China, Market, World

Serbia chooses links with China to develop economy, telecoms despite US warning campaign

BELGRE: As US Secretary of State Mike Pompeo rallied Central European nations this week to stem Chinese influence by snubbing its advanced digital technology, Chinese surveillance cameras were recording faces and cars in the Serbian capital Belgrade. While Serbia aspires to join the European Union, it has made a big swing towards China, the top economic and geo-political competitor of the EU and United States, to help develop its infrastructure, energy and tech sectors and to buy weaponry. China has provided billions of euros in soft loans for infrastructure and energy development in Serbia. It is also pursuing its plan for a "digital silk road" - telecommunications connectivity - in which Serbia would be a key cog in Europe. On a visit to Slovenia on Thursday, Pompeo said that by r...
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Changes to Bukit Panjang bus services postponed to Aug 30, mitigation measures to be introduced: Chee Hong Tat
27Aug By Desk TeamNo Comments
Singapore, World

Changes to Bukit Panjang bus services postponed to Aug 30, mitigation measures to be introduced: Chee Hong Tat

SINGAPORE: A series of unpopular changes to bus services in the Bukit Panjang area, which were to come into effect on Sunday (Aug 16), will now be delayed by two weeks while mitigation measures are being introduced. The changes will now be introduced on Aug 30 to allow bus operators more time to implement the new measures, which include the provision of a direct bus service to the city, said Senior Minister of State for Transport Chee Hong Tat on Thursday (Aug 13). This comes after it was announced earlier this month that services 700 and 700A would cease operations, while service 171 would loop at Bukit Panjang MRT station instead of travelling to the Marina Centre bus terminal. From Aug 30, bus service 171 will loop at Bukit Panjang MRT station instead of travelling to the Marina ...
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5 things to know before the stock market opens Tuesday
26Aug By Desk TeamNo Comments
Market, World

5 things to know before the stock market opens Tuesday

1. S&P 500 to try again to close at a record high On Tuesday's economic calendar, the government reported much better than expected numbers on July housing starts and building permits. Starts surged 22.6% and permits jumped nearly 19%. 2. Walmart, Home Depot deliver strong earnings Shares of Walmart, which logged an all-time high Monday, rose as much as 6% in the premarket after the company blew away expectations with adjusted per-share earnings of $1.56 on a 5.6% total revenue increase to $137.74 billion. Online sales during the pandemic nearly doubled as customers got packages shipped their homes and used curbside pickup at physical stores. The stock has since pulled back. Shares of Home Depot rose 1% in Tuesday's premarket after the home improvement retailer delivered a 23% increase...
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Timeline: Three years on, a look at the Rohingya crisis
26Aug By Desk TeamNo Comments
USA, World

Timeline: Three years on, a look at the Rohingya crisis

DHAKA: This month marks the third anniversary of the fleeing of more than 730,000 Rohingya from Myanmar's Rakhine State to Bangladesh after a military-led crackdown in response to an attack by Muslim militants on Myanmar security posts. Here is a timeline of events in the crisis: Aug 25, 2017 - Muslim insurgents of the Arakan Rohingya Salvation Army (ARSA) attack 30 police posts and an army base in the north of Rakhine State. Aug 26, 2017 - As fighting spreads between the army and ARSA, thousands of Rohingya flee to Bangladesh. Sep 2, 2017 - More than 2,600 houses are razed in Rohingya-majority areas in the week following the Aug 25 attack, the government says. Sep 11, 2017 - The UN human rights high commissioner calls the military operation “a textbook example of ethnic clean...
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Relief efforts should cushion economy in months ahead, White House report says
26Aug By Desk TeamNo Comments
Market, USA, World

Relief efforts should cushion economy in months ahead, White House report says

WASHINGTON: Increased transfer payments and expanded liquidity measures aimed at companies should help buffer U.S. households and businesses from the worst of the economic crisis unleashed by the coronavirus pandemic in coming months, the White House Council of Economic Advisers said in a report on Thursday. Nonetheless, the economy would recover faster and with less scarring if agreement were reached on additional support, Tyler Goodspeed, the CEA's acting chair, told reporters in a briefing on the report. Republicans and Democrats in Congress are at an impasse over the size of another coronavirus aid package, with talks having broken down in the past week. "Very substantial headwinds remain," Goodspeed said. "What is going to be absolutely essential for continued economic recovery...
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Canada’s Trudeau says he has confidence in finance minister after report of policy clash
26Aug By Desk TeamNo Comments
Market, World

Canada’s Trudeau says he has confidence in finance minister after report of policy clash

related media assets (image or videos) available. Click to see the gallery. 2 related media assets (image or videos) available. Click to see the gallery. OTTAWA/TORONTO: Canadian Prime Minister Justin Trudeau on Tuesday (Aug 11) said he had "full confidence" in Finance Minister Bill Morneau amid reports of a clash over policy between the two men, who also both face an ethics probe. The Globe and Mail newspaper cited unnamed sources as saying Trudeau was uncertain whether Morneau was the right person to handle the recovery from the coronavirus outbreak, prompting analysts to fret about Ottawa's becoming distracted. "Of course the Prime Minister has full confidence in Minister Morneau and any statement to the contrary is false," said a statement from Trudeau's office, praising Mornea...
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China’s factory activity beats expectations in July and expands for the fifth month, official PMI shows
26Aug By Desk TeamNo Comments
China, World

China’s factory activity beats expectations in July and expands for the fifth month, official PMI shows

This photo taken on May 3, 2018 shows a worker cutting steel at a factory in Huaibei in China's eastern Anhui province. China's factory activity expanded in July for the fifth month in a row and at a faster pace, beating analyst expectations despite disruptions from floods and a resurgence in coronavirus cases around the world. The official manufacturing Purchasing Manager's Index (PMI) rose to 51.1 in July from June's 50.9, official data showed on Friday, marking the highest reading since March. Analysts had expected it to slow to 50.7. The 50-point mark separates growth from contraction on a monthly basis. China has largely managed to recover from strict lockdowns that had led to weeks of economic paralysis, although it is now battling the most aggressive return of the novel coronavi...
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