Economy And More

BEIJING (Reuters) - Beijing will suspend an additional 25 percent tariff on cars and components manufactured in the United States for three months from Jan. 1 after a truce in a trade war between the world's two largest economies, the Finance Ministry said on Friday. The ministry also said in a statement on its website that it hoped China and the United States could speed up negotiations to cancel all additional tariffs on goods imported from each other. US President Donald Trump welcomed the announcement and said on Twitter: "China has just announced its economic growth slower than expected because of our trade war with it, and has just suspended tariff increases on the United States." China declares unilateral truce in trade war with America "America is doing well, China wants to reach a very large and comprehensive agreement, and this can happen fairly quickly." Shortly after the Chinese announcement, Tesla said it had reduced the pric...

Kuwait's Minister of Trade and Industry Khalid Al-Rowdan on Saturday issued a decree allowing foreign investors to own and trade Kuwaiti banks without a cap for ownership, the official KUNA news agency reported. The procedure requires the approval of the Central Bank of Kuwait, if ownership exceeds 5 percent of the bank's capital, following a recommendation by the Capital Markets Authority to take this step. The Ministry of Commerce and Industry said in a statement on Saturday that "this came in the decision to issue No. 694 of 2018, where the text of the resolution: Replace the text of Article 3 of the Ministerial Resolution No. 205 the following text: The non-Kuwaiti investor is allowed to own and trade shares of Kuwaiti banks. Kuwait allows foreign investors to own and trade bank shares It added that the decision also guarantees that "without the prior approval of the Central Bank of Kuwait, the ownership of one person may not be natural or legal ...

The Egyptian authorities have issued a decision obliging Apple to cancel the restrictions imposed on the import of its products from distributors in other countries, promising to "pursue the company criminally if it does not comply with this request." The decision, which was published in the Official Gazette on Monday, was issued by the Presidency of the Council of Ministers and ruled that Apple and IBM should cancel any restrictions that limit the ability of any retailer (retailer in Egypt) to meet its needs of Apple products from any distributor or Vendor, whatever its geographical scope. " The decision said that the two companies would be "prosecuted" if they did not respond to the request of the Egyptian government within a period not exceeding 60 days. "Apple and its distributors have violated the competition protection law because they have agreed to isolate the Egyptian market geographically from competition factors, ban parallel impor...

Iraqi Prime Minister Adel Abdul Mahdi said on Tuesday he would send a delegation to the United States to seek an exemption from sanctions against Iran that would allow Baghdad to continue importing gas from Tehran. "The issue of gas is related to the sensitive matter of electricity, and the American side understands this situation and is trying to deal with Iraq to find ways to avoid pressure on it," Abdul Mahdi told a news conference. US Energy Secretary Rick Perry said Tuesday that he discussed the sanctions his country has imposed on Iran with Iraqi energy officials. Perry's remarks came on the sidelines of the US Chamber of Commerce's activity with Iraqi Oil Minister Thamer Ghadhban. The United States is working to provide alternatives to Iraq, urging it to dispense with the gas it gets from Iran, under US pressure on Iraq to cut its ties with Iran in the energy field. Iraq relies on Iran to import natural gas, which generates up to 45 perc...

For the vast majority of people, the profits of the richest people in the world seem fanciful, earning them at one or a minute to two times more than citizens of many countries in a month or more. Amazon's founder earns more than two and a half billion pounds in one month, while his earnings per week reach nearly 620 million pounds. His daily income is estimated at 88.6 million pounds, according to ABC Finance. Compared to your monthly salary .. How much does the rich earn money? This figure is a sum of money for many citizens in many countries of the world, who can not compare the monthly salaries of the richest 6 richest people in the world, namely 3 Americans and 3 Britons, It is noteworthy that there are about 2000 billionaires in the world according to statistics in 2018, the total wealth to about 7 trillion dollars. By geographical distribution, the United States has the largest number of billionaires, with 631 millionaires, while in Europe there are 559 b...

On Wednesday, the signing ceremony of the Stigler George dam project in Tanzania will be held between Tanzanian President John Maguvely and Prime Minister Mustapha Medbouli on behalf of Egyptian President Abdel Fattah Sisi. The signing ceremony will also include the presence of Mohamed Shaker, the Egyptian Minister of Electricity, along with the owner of the project, the Tanzanian Ministry of Energy, while the two companies, "Arab Contractors" and "Swedish Electric" will be the implementing agency. The dam is located in the Stigler George area of ​​Tanzania, where the dam is located in Morogoro on the Rufiji River. The project will run for a period of 42 consecutive months, including 6 months to process the site. The project aims at generating electricity capacity of 2115 MW to provide energy needs in Tanzania, as well as controlling water levels during flood periods and thus providing water needs for the state. The dam project consists of the ...

International airlines will see record earnings growth and carbon dioxide emissions next year as strong demand will outweigh the impact of cost pressures that reduced profitability in 2018, the International Air Transport Association (IATA) said on Wednesday. According to Reuters, IATA said the airline industry's earnings are expected to rise to $ 35.5 billion in 2019, compared to $ 32.3 billion this year. "The aviation sector now stands on a more solid financial footing than ever before," the union's general manager and chief executive, Alexander de Goniak, told reporters on the annual IATA news briefing in Geneva. Brian Pierce, chief economist at IATA, said the bloc did not expect a recession in the coming period, but there were many concerns under the trade and foggy protection of Britain's exit from the EU, although the worst possible outcome of this separation is expected to slow down. Growth in the long run, but it will not stop. He added...

Japan's Softbank Group plans to replace the equipment of the fourth generation network of two European companies rather than the equipment of China's Huawei Technologies, the Nikkei newspaper reported Thursday. The move comes at a time when Chinese technology companies are under intense scrutiny from the United States and some of its leading allies over its links with the Chinese government, fearing that Beijing will use it for espionage. Softbank, Japan's third-largest telecom operator, will seek equipment for its next generation mobile phone network from two European suppliers Nokia and Ericsson instead of Huawei. A Softbank spokesman said the report "is based on speculation and no decision has been made yet." Nokia and Ericsson are already senior Softbank suppliers. Industry sources said the replacement of the fourth-generation equipment, which Nikki said would take several years, was likely to take time and be expensive. The newspaper...

The three major US stock indexes fell Friday after weak data from China and Europe fueled fears of a global economic slowdown, while the Dow Jones and S & P 500 suffered a 10 percent drop in Johnson & Johnson shares. The Dow Jones industrial average <.DJI> was down 496.87 points, or 2.02 percent, at 2,4100.51. The broader Standard & Poor's 500 Index <.SPX> was down 50.59 points, or 1.91 percent, to close at 2,599.95, the lowest close since April 2. . The Nasdaq Composite Index <.IXIC> was down 159.67 points, or 2.26 percent, at 6,910.67. The three indexes ended the week with losses, with the Dow shedding 1.18 percent, the S & P 500 losing 1.25 percent and the Nasdaq losing 0.84 percent.

Bank of America Merrill Lynch said investors have pulled out of equity funds at a record pace over the past week with sales of $ 39 billion. Outflows from investment grade bond funds also recorded a record high of $ 8.4 billion in the week ending Wednesday. The US stock markets witnessed a hot week with US equity funds registering the second-largest weekly sales of $ 27.6 billion, the bank said in a note. With the uncertainty surrounding Britain's exit from the EU growing, investors have so far withdrawn $ 9.8 billion from UK equity funds so far this year, higher than a year earlier. However, inflows since the beginning of the year to Japanese equity funds amounted to $ 63.57 billion and emerging market shares $ 50.92 billion, which helped keep total inflows to equities positive for 2018 at $ 74 billion. However, it was different for bond funds with higher investment ratings and higher returns since the beginning of the year to date with sales of $ 63 billion....

Oil prices rose on Thursday, supported by a drop in US crude inventories and signs of a slump in the US-China trade war, the world's two biggest economies and the world's biggest oil consumer. Crude oil prices also receive support from OPEC-led output cuts, announced last week, although gains were limited after OPEC cut its forecast for oil demand for 2019. Brent crude futures were $ 60.36 a barrel, up 21 cents, or 0.4 percent, from the previous close. West Texas Intermediate crude futures were $ 51.25 a barrel, up 10 cents, or 0.2 percent. In an indication of China's desire to reduce trade tensions with the United States, Beijing made its first major US soybeans purchase in more than six months on Wednesday, helping investors breathe a sigh of relief and push stock markets generally higher and oil prices higher. US oil inventories fell 1.2 million barrels in the week ending Dec. 7, compared to expectations of a 3 million barrel decline. OPEC said de...

The United States is pursuing a new strategy in its "trade war" with China, which is acquiring a global "investment" character and heading towards a new arena, Africa's "continent of the future." John Bolton, the US national security adviser, will announce on Thursday the new strategy focusing on Africa, described by the Donald Trump administration as "the continent of the future." In an address to Congress on Wednesday, US Assistant Secretary of State for African Affairs Tibor Naji warned of China's economic, military and political impact in Africa, which has some of the fastest growing economies in the world and billions of dollars in natural resources. Naji expressed concern about the large investments made by China on the continent, pointing out that African countries will benefit from increased investments of US companies and projects there, which will create jobs that raise the standards of the environment and work. ...

Oil prices fell on Friday amid concerns about a slowdown in China's economic growth, as investors headed for profits above 2 percent in the previous session, although last week's cut in production cuts by major oil producers gave some crude support. Brent crude futures were $ 61.08 a barrel at 0530 GMT, down 37 cents, or 0.6 percent, from the previous settlement. US West Texas Intermediate crude futures were $ 52.42 a barrel, down 16 cents, or 0.3 percent, from the previous settlement. On Friday, China announced some of the slowest growth in retail sales and industrial production in years, highlighting the risks of a trade dispute with the United States.