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Economy News

Kushner holds open door to wary Palestinians in Bahrain peace push

Manama - Jared Kushner said Wednesday that the door remained open to the Palestinians to engage in his peace initiative as he accused their leaders of not caring about their own people for rejecting his $50 billion economic framework.

Urgency needed to boost Palestinian economy: IMF chief

Manama - IMF chief Christine Lagarde said Wednesday that major economic growth was possible in the Palestinian territories if all sides showed urgency, as she took part in a US-led conference boycotted by the Palestinian leadership.

Taiwan bike makers peddling home as trade war rumbles along

Taichung - Set to a rhythmic soundtrack of clacking machinery, whirring drills and inflating tyres, bikes take shape at a factory run by Taiwan's Giant, which is leading the island's push to regain its crown as bike maker to the world.

Australia warns of 'collateral damage' from Trump-Xi trade war

Sydney - Australian Prime Minister Scott Morrison on Wednesday warned that "collateral damage" from trade spats between China and the United States were hurting smaller countries and threatening the global economy.

US-China trade spat, Iran tensions to dominate weighty G20

Osaka - The trade battle between the US and China, and fears that spiralling tensions with Iran could erupt into conflict are poised to dominate a high-stakes G20 summit from Friday.

Kushner says economic plan pre-condition to peace

Manama - White House adviser Jared Kushner said Tuesday that his plan for the Middle East was "the opportunity of the century" for the Palestinians but that their acceptance was a pre-condition to peace.

US kicks off Mideast plan, with Palestinians boycotting

Manama - After a wait of two and a half years, the US administration is launching its Middle East peace plan Tuesday -- with an economic initiative that the Palestinians are boycotting.

Iran says US sanctions rupture 'path to diplomacy'

Tehran - Iran said Tuesday US sanctions on its leaders represent the "permanent closure" of diplomacy with Washington, after President Donald Trump tightened the screws on a nation he has threatened with "obliteration".

Latest sanctions on Iran will block 'billions' in assets: US

Washington - The US sanctions slapped Monday on Iran's supreme leader Ayatollah Ali Khamenei and other officials will block "literally billions" in Iranian assets, US Treasury Secretary Steven Mnuchin said.

Jailed daughter of late Uzbek leader says gave state $1.2 bn

Tashkent - The jailed daughter of Uzbekistan's former leader has begged his successor to release her after claiming she gave more than $1.0 billion to the state, while an anti-fraud ruling in her former home of Switzerland deepened her troubles.

US readies peace plan in Bahrain but Palestinians not buying

Finance officials were flying into Bahrain on Monday for a US-led peace conference that holds out billions of dollars for the Palestinians, whose leaders pronounced the idea dead on arrival.

US-led Bahrain meeting: a chance for Israel-Gulf rapprochement?

Dubai - A US-led peace conference on the Palestinian economy could present Washington with a new opportunity to push Gulf allies and Israel closer together as tensions with common foe Iran rise.

Palestinians shun US prosperity pledges despite financial woes

Ramallah - Boxes of unsold biscuits are piled up in a West Bank warehouse, a sign of tough economic times faced by Palestinians who are determined not to be wooed by Washington's economic pledges.

Georgian protesters slam 'Putinism', raise pressure on oligarch

Tbili - Several thousand anti-government protesters took to the streets of the Georgian capital Tbilisi for a fourth day on Sunday as tensions rose between Moscow and its ex-Soviet neighbour.

Five things to know about the Czech Republic

Prague - The Czech Republic, which on Sunday saw its largest protest since the collapse of communism in 1989 over calls for embattled PM Andrej Babis to step down, has been an EU member since May 1, 2004.

Georgian protesters slam 'Putinism' as Moscow tensions soar

Tbili - Several thousand protesters took to the streets of Georgian capital Tbilisi for a fourth day on Sunday as tensions rose between Moscow and its ex-Soviet neighbour.

Protectionism slammed as Southeast Asian leaders rally to trade pact

Bangkok - Southeast Asian leaders made an impassioned plea against protectionism at a regional summit in Bangkok Sunday, warning that a dragging US-China trade spat could hammer their export-led economies.

Protectionism slammed as Southeast Asian leaders rally to trade pact

Bangkok - Thailand's premier made an impassioned plea against protectionism on Sunday at a meeting of Southeast Asian leaders where the fallout from the US-China tariff war has dominated talks.

Morocco's sole oil refinery battles for survival

Mohammedia - Three years after it was liquidated for racking up billions of euros worth of debt, Morocco's sole oil refinery and one-time economic flagship is struggling to attract a buyer and survive.

US peace plan aims to raise $50 bn, create million Palestinian jobs

Washington - The United States said Saturday that its Middle East peace plan to be presented next week in Bahrain aims to raise more than $50 billion for the Palestinians and create one million jobs for them within a decade.

US peace plan aims to raise $50 bn, double Palestinian GDP

Washington - The United States said Saturday that its Middle East peace plan to be presented next week in Bahrain aims to raise more than $50 billion for the Palestinians and double their GDP within a decade.

Russia bans Georgia airline flights as tensions rise over protests

Moscow - Russia's government on Saturday banned Georgian airlines from flying into its territory, extending restrictions imposed by President Vladimir Putin as part of growing tensions between Moscow and its ex-Soviet neighbour.

Russians hit out at Kremlin ban on flights to Georgia

Moscow - Russia's travel industryhit out Saturday at a decision by the Kremlin to suspend flights to Georgia as a politically motivated move that has little to do with safety concerns.

Dry lakebeds and fights for water as drought grips India's Chennai

Chennai - Angry residents fight in queues at water taps, lakes have been turned into barren moonscapes and restaurants are cutting back on meals as the worst drought in living memory grips India's Chennai.

Trade to headline as Southeast Asian leaders meet in Bangkok

Bangkok - Southeast Asian leaders gather in Bangkok on Saturday eager to drive forward the world's largest commercial pact, with the trade war between the US and China muddying the outlook for their export-led economies.

ASEAN seeks conclusion of China-led trade deal this year: Thai PM

Bangkok - Southeast Asian leaders are eager to sign a sweeping China-led trade pact by the end of this year, Thailand's prime minister said Friday, with further talks expected at a Bangkok summit on the world's biggest commercial deal.

Gou cedes Foxconn control as he eyes Taiwan presidency

Taipei - Taiwan's richest man Terry Gou said on Friday he would cede control of tech giant Foxconn to a committee, leaving the Apple-supplier in uncharted waters while he runs for president.

EU under pressure over 2050 net zero emissions target

Apo - European Union leaders will push Thursday "to advance work" towards setting a target of net zero greenhouse gas emissions by 2050, according to a draft resolution.

Trade disputes to dominate as ASEAN meets in Bangkok

Bangkok - Southeast Asian leaders will dissect the impact of the US-China tariff war this weekend at a Bangkok summit, with Beijing determined to drive forward a trade pact sweeping in 40 percent of global commerce -- but excluding America.

Putin promises brighter future as marathon phone-in takes gloomy turn

Moscow - Russians turned to President Vladimir Putin with fears over squeezed incomes and civil liberties during a four-hour annual phone-in Thursday, but the longtime leader insisted a brighter future was ahead.
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