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Economy

Exclusive: US Vows to Pursue Ship Owners Who Violate Iran Oil Sanctions

By Yeco on Tuesday, March 19, 2019

A senior U.S. official says Washington is monitoring ships involved in clandestine transfers of Iranian oil and will hold anyone involved in such transfers responsible for violating U.S. sanctions against Iran. “We are closely tracking ship-to-ship transfers of [Iranian] oil …

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Economy

Ethiopia and Indonesia Crash Parallels Heap Pressure on Boeing

By Yeco on Tuesday, March 19, 2019

Investigators into the Boeing 737 MAX crash in Ethiopia have found striking similarities in a vital flight angle with an airplane that came down off Indonesia, a source said, piling pressure on the world’s biggest planemaker. The Ethiopian Airlines disaster …

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Economy

Paris Catches Asian Tigers in Most Expensive City Race

By Yeco on Tuesday, March 19, 2019

Paris and Hong Kong for the first time joined Singapore as the world’s most expensive cities to live in, a study revealed on Tuesday, with utilities and transport driving up the cost of living. Zurich, Geneva and Japan’s Osaka trailed …

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Economy

NATO to Receive First Northrop Surveillance Drone, Years Late

By Yeco on Tuesday, March 19, 2019

NATO is to receive the first of five Northrop Grumman high-altitude drones in the third quarter after years of delays, giving the alliance its own spy drones for the first time, the German government told lawmakers. Thomas Silberhorn, state secretary …

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Economy

UK Prime Minister in Last-Minute Push to Win Brexit Support

By Yeco on Monday, March 18, 2019

British Prime Minister Theresa May was making a last-minute push Monday to win support for her European Union divorce deal, warning opponents that failure to approve it would mean a long — and possibly indefinite — delay to Brexit. Parliament …

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Economy

EU May Push China to Open Economy at April Summit

By Yeco on Monday, March 18, 2019

The European Union will seek Beijing’s agreement for deadlines to open up China’s economy at an April 9 summit in Brussels, according to a draft leaders’ statement, trying to coax it into making good on promises to deepen trade ties. …

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Economy

France Starts New Chapter in National Debate Aimed to End Yellow-Vest Crisis

By Yeco on Sunday, March 17, 2019

After wrapping up thousands of town hall meetings, France starts a new chapter of its “great debate,” aimed to address longstanding public grievances and offer solutions to the yellow vest protest movement. But the broader crisis lingers, seen with upsurge …

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Economy

UK Leader to Lawmakers: Back my Deal or Face Lengthy Delay

By Yeco on Sunday, March 17, 2019

British Prime Minister Theresa May warned Sunday that it would be “a potent symbol of Parliament’s collective political failure” if a Brexit delay meant that the U.K. has to take part in May’s European elections — almost three years after …

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Economy

Brazil Reportedly Weighing Import Quota for US Wheat

By Yeco on Sunday, March 17, 2019

Brazil is considering granting an import quota of 750,000 metric tons of U.S. wheat per year without tariffs in exchange for other trade concessions, according to a Brazilian official with knowledge of the negotiations ahead of President Jair Bolsonaro’s visit to Washington.  That is about 10 percent of …

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Economy

Iran’s Oil Minister Blames US for Market Tensions 

By Yeco on Sunday, March 17, 2019

Iranian Oil Minister Bijan Zanganeh said on Saturday that frequent U.S. comments about oil prices had created market tensions, the ministry’s news website SHANA reported.  U.S. President Donald Trump, who has made the U.S. economy one of his top issues, has repeatedly tweeted about …

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Economy

Brexit: What Now?

By Yeco on Thursday, March 14, 2019

Veteran Conservative lawmaker Nigel Evans has been in Britain’s House of Commons for more than a quarter-of-a-century and, like most of his parliamentary colleagues, is stunned at the turn of Brexit events. “I got elected in 1992 and I don’t …

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Economy

China Investment Laws Fail to Deliver, Raise New Concerns

By Yeco on Thursday, March 14, 2019

China’s top legislature is expected to pass the country’s first Foreign Investment Law this week at a time when negotiators from Beijing and Washington work to hammer out a trade deal. Analysts and business groups say the legislation is a …

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Economy

Trump Says He is in No Rush to Complete China Trade Deal

By Yeco on Thursday, March 14, 2019

U.S. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of …

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Economy

Democrats Cool Toward NAFTA Replacement, Question Labor Standards

By Yeco on Wednesday, March 13, 2019

Democrats in the U.S. House of Representatives gave a cool reception to the replacement for the North American Free Trade Agreement on Wednesday as the top U.S. trade negotiator opened a  campaign to win broad support for the accord in …

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Economy

Trade Chief: US Working on Steel, Aluminum Tariff Relief for Mexico, Canada

By Yeco on Tuesday, March 12, 2019

The United States is working on a plan to lift tariffs from Mexican and Canadian steel and aluminum but preserve the gains that domestic producers have received from the duties so far, U.S. Trade Representative Robert Lighthizer said on Tuesday. …

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Economy

Lopez Obrador Rebuts Finance Ministry over $2.5B Mexico Refinery Funding

By Yeco on Tuesday, March 12, 2019

Mexican President Andres Manuel Lopez Obrador on Tuesday denied any delay to a flagship refinery project in his home state after the deputy finance minister was quoted as saying $2.5 billion for its construction will be moved to state oil …

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Economy

Official: US Plans ‘Very Significant’ Additional Venezuela Sanctions

By Yeco on Tuesday, March 12, 2019

The United States is preparing to impose “very significant” Venezuela-related sanctions against financial institutions in the coming days, U.S. special envoy Elliott Abrams said on Tuesday. Abrams did not elaborate on the fresh measures but his warning came a day …

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Economy

Pawn Business Growing in US

By Yeco on Tuesday, March 12, 2019

You never know what you will find in a pawnshop.  Where else can you find a snow blower parked next to a mink jacket? Or an ornate 19th century mantle clock from France next to modern-day laptop computers? At Top …

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Economy

China Tweaks Tech Supremacy Plan

By Yeco on Tuesday, March 12, 2019

For the first time in recent years, Chinese Premier Li Keqiang’s annual Government Work Report did not mention Made in China 2025, the country’s ambitious plan to achieve high-tech dominance, and that has analysts asking whether Beijing is going to …

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Economy

Global Backlash Over Boeing 737 MAX-8 Growing After Deadly Crash

By Yeco on Tuesday, March 12, 2019

Australia and Singapore have suspended the Boeing 737 Max 8 passenger jet from operating in their respective airspaces, joining a growing list of countries taking precautionary measures involving the troubled plane after its second fatal crash in five months.   …

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Economy

Pakistani Politician: US Should Have a Marshall Plan for South Asia

By Yeco on Monday, March 11, 2019

The United States should announce a Marshall Plan for South Asia if it wants to compete with China in projecting its “economic soft power” in the region, according to Pakistan’s young political leader, Bilawal Bhutto-Zardari. “I think (the) United States …

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Economy

Erdogan’s Economic Woes Grow Ahead of Key Elections in Turkey

By Yeco on Monday, March 11, 2019

The Turkish economy has fallen into recession for the first time in a decade, according to data released on Monday. The timing could not be worse for President Recep Tayyip Erdogan with critical local elections scheduled for the end of …

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Economy

US Sanctions Bank Jointly Owned by Russia, Venezuela

By Yeco on Monday, March 11, 2019

The U.S. on Monday sanctioned a Moscow-based bank jointly owned by Russian and Venezuelan state-owned companies for its support for Venezuela’s embattled President Nicolas Maduro and the country’s state-controlled oil industry. The U.S. Treasury said it was targeting Evrofinance Mosnarbank, …

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Economy

White House: Trump Wants 5% Cut in 2020 Domestic Spending

By Yeco on Sunday, March 10, 2019

White House economic adviser Larry Kudlow says that President Donald Trump will call for a 5 percent “across the board” cut in domestic government spending in 2020 when he proposes his new budget on Monday. “It will be a tough …

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