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Turkey slaps retaliatory tariffs on key US goods, escalates feud

Turkey doubled tariffs on some US imports including alcohol, cars, and tobacco yesterday in retaliation for US moves, but the lira rallied further after the central bank’s liquidity moves had the effect of supporting the currency.  The currency has lost nearly 40% against the dollar this year, driven by worries […]

Facebook to stream La Liga Live in India this season

Facebook announced the acquisition of media rights for the Indian subcontinent of Spanish football league, La Liga — one of the most watched football leagues and home of popular clubs Real Madrid and FC Barcelona. The social networking site, which has 270 million subscribers in the country as per La […]

China blasts US solar tariffs, takes WTO action

China has blasted US tariffs on solar panel imports, filing a complaint at the World Trade Organization. US President Donald Trump approved steep tariffs on solar panel imports in January to protect US producers, triggering an outcry from China, South Korea and even protests from the US solar industry.  China’s […]

Vodafone, Idea throw down the gauntlet at Jio, Airtel with eye-catching incentive offers

Vodafone India and Idea Cellular are believed to have more than doubled the subscriber-related incentives offered to retailers in the run-up to creating India’s largest telecom operator, throwing down the gauntlet at rivals Bharti Airtel and Reliance JioInfocomm as the war for customers intensifies.  According to a distributor, “Vodafone and […]

US reaps more than $1.4 billion from steel and aluminium tariffs, report finds

In less than five months, the Trump administration has collected more than $1.4 billion in new revenue from steel and aluminum tariffs. The Congressional Research Service estimated that, between March 23 and July 16, the U.S. reaped $1.1 billion and $344.2 million from levies on foreign steel and aluminum, respectively. […]

Share Market Highlights;

Asian shares were mixed today, as some regional markets bounced back one day after declining over jitters related to economic uncertainty in Turkey. The Nikkei 225 rose 1.22 percent, with all sectors trading higher after the yen gave up some of its recent strength amid safe-haven demand on uncertainty in Turkey. The yen traded […]

Iran offers discounted oil to Asia

Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA Bloomberg reported on Friday that the state-run National Iranian Oil Company was reducing official prices for September sales to Asia to their lowest level in […]

US stops funds to train Pakistani army officers

American military institutions are struggling to fill the 66 slots they had kept aside for officers from Pakistan for the next academic year as the Trump administration refused to provide funds for their training, a development that could emerge as a key irritant for the incoming Imran Khan government.  The […]

A year after Doklam, China continues to bait India on the border

China continues to needle India at different stretches along the 4,057-km Line of Actual Control (LAC), with People’s Liberation Army troops intruding around 300-400 meters inside the Demchok sector of eastern Ladakh and pitching five tents there in the latest such incident last month.  Security establishment sources said the PLA […]

Turkish lira hits new record low after last session’s free fall

The Turkish lira touched a new record low in early Asian trade after its free fall in the previous session. Today, the lira last traded down by around 9 percent against the greenback at around 6.9915 at 11:05 a.m. HK/SIN. It had earlier dropped to a fresh all-time low of 7.24, before […]