World economy

Queen sign Brexit Bill into law, clears way for 31 January exit from EU

Queen sign Brexit Bill into law, clears way for 31 January exit from EU

24 Jan 2020

The Brexit deal protects the rights of EU citizens, makes special trading arrangements for the British province of Northern Ireland, and settles the UK's EU debts, but leaves UK-EU ties largely the same while both sides try to agree a new trading and security partnership

China seals off Wuhan in stepped-up battle against Coronavirus

China seals off Wuhan in stepped-up battle against Coronavirus

23 Jan 2020

State television reported 571 confirmed infections, most of them in Wuhan and the surrounding province of Hubei, while cases have appeared elsewhere in China and countries, including Thailand, South Korea and the United States

Russian PM Dmitry Medvedev, govt resign under new Putin plan

Russian PM Dmitry Medvedev, govt resign under new Putin plan

16 Jan 2020

Media speculates that with the changes in the constitution and loyalists in key positions, President Putin is planning a comeback as Prime Minister, with more powers after the 2024 elections, circumventing or scrapping rule entirely as his fourth term in office ends

US, China sign Phase 1 trade deal

US, China sign Phase 1 trade deal

16 Jan 2020

The partial trade deal, under which China will purchase American goods and services worth at least $200 billion and frees Chinese-made cellphones, toys and laptop computers from new tariffs while halving the tariff rate to 7.5 per cent on about $120 billion worth of other goods, however, leaves the larger part of the deal to a “re-elected” President Trump

China to boost imports of US cars, aircraft, energy trade deal: report

14 Jan 2020

Iran rejects claims it mistakenly shot down crashed Ukranian plane

10 Jan 2020

Britain set to exit EU on 31 Jan as lawmakers approve Brexit deal

Britain set to exit EU on 31 Jan as lawmakers approve Brexit deal

10 Jan 2020

Brexit won’t end Johnson’s problems, rather it would only help start fresh negotiations on Britain’s future relationship with the EU, which may extend well beyond the year or leave Britain with a no-deal exit

Trade war with China helps pare US November trade deficit to a 3-year low

08 Jan 2020

British PM Boris Johnson wins parliament vote for Brexit deal

British PM Boris Johnson wins parliament vote for Brexit deal

26 Dec 2019

Once the bill is passed into law, the prime minister will have to face talks to secure a trade deal with the bloc and ensure that the talks conclude by the end of next year - another target date

US President Trump impeached for abuse of power, obstructing Congress

US President Trump impeached for abuse of power, obstructing Congress

19 Dec 2019

While the initiation of impeachment procedure is one of the most shameful episodes for an elected president, House Republicans are sure that the President did absolutely nothing wrong and that he will come out of the “entire sham impeachment” unscathed

US, China announce partial trade deal

US, China announce partial trade deal

16 Dec 2019

US will halve its 15 per cent tariff on nearly $120 billion in Chinese goods in return for China importing at least $200 billion worth of additional US goods and services over the next two years

PM Johnson’s Conservative party sweeps UK snap polls

PM Johnson’s Conservative party sweeps UK snap polls

13 Dec 2019

By 6:30am (06:30 GMT) today, with results in five seats still to be declared, the Conservatives have already secured 361 of the 650 seats in the House of Commons

China to phase out foreign computers, software in 3 years

China to phase out foreign computers, software in 3 years

10 Dec 2019

This is the first reaction from Beijing limiting China’s use of foreign technology and increasing its reliance on domestic technology after the US ban on Huawei

Finland gets its youngest-ever prime minister, Sanna Marin, 34

Finland gets its youngest-ever prime minister, Sanna Marin, 34

09 Dec 2019

The new ministry will formally take charge later tomorrow after President Sauli Niinisto appoints the new government on Tuesday

US threatens 100% tariffs on French Champagne over digital tax

US threatens 100% tariffs on French Champagne over digital tax

03 Dec 2019

France’s 3 per cent levy on revenue from digital services earned by firms with more than 25 million euros ($27.86 million) in French revenue and 750 million euros worldwide, was imposed after months of negotiations, but President Trump has not officially approved it

Russia opens natural gas pipeline to China

Russia opens natural gas pipeline to China

03 Dec 2019

Hit by Western financial sanctions over its 2014 annexation of Ukraine’s Crimea, Russia, one of the largest exporters of natural gas, is shifting market focus to the East

Myanmar’s democracy icon Suu Kyi now fights genocide trial

Myanmar’s democracy icon Suu Kyi now fights genocide trial

03 Dec 2019

Despite the accusations by vested interests overseas, Suu Kyi still enjoys overwhelming support at home, where her image is undented by accusations of complicity in atrocities

US govt agency lures Indian students to fake university, arrests them

US govt agency lures Indian students to fake university, arrests them

29 Nov 2019

The US federal agency has confirmed that it used the trap to arrest about 250 students between January and July this year, even as federal prosecutors put the onus on students saying they should have known the university was not legitimate

Rajapaksas take control of Sri Lanka with Gotabaya as president and Mahinda PM

21 Nov 2019

Gotabaya Rajapaksa elected Sri Lankan President

Gotabaya Rajapaksa elected Sri Lankan President

18 Nov 2019

Gotabaya, a pro-China leader with close links to the US, has promised that he will not entertain a family rule, which means that he will not appoint his brother Mahinda Rajapaksa or other family members as the next prime minister

Bolivia gets new president as Evo Morales takes asylum in Mexico

Bolivia gets new president as Evo Morales takes asylum in Mexico

13 Nov 2019

Morales, a leftist and Bolivia's first indigenous president, defended his fraud-stained re-election to a fourth term citing is record of bettering living conditions for poor and indigenous Bolivians

US seeks to build an Asia-Pacific rival to RCEP

US seeks to build an Asia-Pacific rival to RCEP

08 Nov 2019

Two-way trade between the United States and the Indo-Pacific region hit a record $2 trillion, the highest for any region, while cumulative foreign direct investment between the US and the Indo-Pacific stood at $1.6 trillion in 2018, US commerce secretary Wilbur L Ross said

US to slap countervailing duties on steel stapples from China

08 Nov 2019

China, US agree on phased tariff cuts in interim trade deal

China, US agree on phased tariff cuts in interim trade deal

08 Nov 2019

Under the interim trade deal the US is expected to scrap tariffs scheduled on about $156 billion worth of Chinese imports, including cell phones, laptop computers and toys, while China would buy up to $50 billion of American farm goods

US Fed cuts rates further to 1.5-1.75% to support expansion

US Fed cuts rates further to 1.5-1.75% to support expansion

31 Oct 2019

FOMC said the move is consistent with its statutory mandate to foster maximum employment and price stability, but signalled its rate-cut cycle might take a pause

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