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July 8, 2018 12:00 AM Iran calls for EU help as shipping giant pulls out for fear of US sanctions

AIX-EN-PROVENCE, France/LONDON: One of the world´s biggest cargo shippers announced on Saturday it was pulling out of Iran for fear of becoming entangled in U.S. sanctions, and President Hassan Rouhani demanded that European countries to do more to offset the U.S. measures. The announcement by France´s CMA CGM that it was quitting Iran deals a blow to Tehran 1

June 28, 2018 12:00 AM US SC deals major blow to US unions

WASHINGTON: The US Supreme Court on Wednesday dealt a major blow to American organized labour, ruling that public sector unions cannot charge non-members fees to cover the costs of collective bargaining. The 5-4 decision by the conservative-dominated court reversed a four-decade precedent and threatened to starve US labor unions of a once-dependable

June 21, 2018 12:00 AM Election duties: ECP set to notify code for military personnel

ISLAMABAD: Code of conduct for the Pakistan Army personnel, to be involved in the election duties, will be notified by the Election Commission of Pakistan in a few days time amid reports that the military’s role will be “meaningful” during the upcoming national polls. The code of conduct, it is said, will determine the dos and donts for those army personnel 3

June 13, 2018 12:00 AM Ivanka, Kushner made $82m last year

WASHINGTON: President Donald Trump’s daughter and son in law made at least $82 million in outside income while serving as senior White House advisers last year thanks to investment deals from companies they had previously led, news reports said on Monday. Ivanka Trump reported $3.9 million from her stake in the Trump International Hotel in Washington 5

June 11, 2018 12:00 AM Vietnam police break up protest over controversial draft law

HANOI: Police broke up a protest in Vietnam’s capital on Sunday and dragged away about 20 people as anger grows over a proposal to grant companies lengthy land leases. The draft law at the centre of the furore would allow 99-year concessions in planned special economic zones, which some view as sweetheart deals for foreign and specifically Chinese firms 5

June 9, 2018 12:00 AM Malaysia seeking return of Goldman Sachs’ 1MDB fees

KUALA LUMPUR: Malaysia is considering asking the US Department of Justice (DoJ) to get Goldman Sachs to return nearly $600 million in fees it earned from bonds raised for scandal-tainted 1Malaysia Development Berhad (1MDB), two sources familiar with the matter said. Malaysia is scrambling to bring home billions of dollars allegedly siphoned off from 1MDB, a state 1

May 29, 2018 12:00 AM US record oil exports bite into Russia, OPEC market share in Asia

SINGAPORE: Record crude oil volumes exported from the United States will be heading to Asia in the next couple of months to take another piece of the market away from Russia and producers in the Organization of the Petroleum Exporting Countries (OPEC). The United States is set to export 2.3 million barrels per day (bpd) in June, of which 1.3 million 6

May 26, 2018 12:00 AM Putin warns protectionism risks global economic crisis

SAINT PETERSBURG: Russian President Vladimir Putin warned Friday that the world could be heading for an unprecedented economic crisis due to the confrontational trade policy and protectionism being pursued by the United States. Without directly naming US President Donald Trump, who has slapped on tariffs and pulled out of trade deals, Putin lamented 7

May 18, 2018 12:00 AM Japan buys 3 vessels of sorghum amid China-US trade spat

TOKYO: Japanese buyers have bought between 150,000 and 180,000 tonnes of US sorghum carried by three vessels previously bound for China amid a trade spat between Beijing and Washington, five industry sources with knowledge of the deals told Reuters. The cargoes were among roughly two dozen bought by China but left stranded after Beijing announced last month 5

May 9, 2018 12:00 AM Ghandhara Nissan pays in yuan for Chinese imports

KARACHI: Automaker Ghandhara Nissan Limited (GNL) imported three million yuan of trucks from China by settling the trade transaction in renminbi in its maiden deal with a Chinese bank based in Pakistan. Bank of China Limited Pakistan (ICBC), which opened the LC for truck imports from China. “We had a CNY (Chinese Yuan) LC established through ICBC during 9