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China won't accept U.S. trade

China won't accept U.S. trade "blackmail" - state media

China's state media said on Saturday the government's retaliatory tariffs on $60 billion of U.S. goods showed rational restraint and they accused the United States of blackmail. Late on Friday, China's finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from...

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China restrained in trade tariffs and won't accept US 'blackmail'

China restrained in trade tariffs and won't accept US 'blackmail'

China's state media said on Saturday the government's retaliatory tariffs on $60 billion of U.S. goods showed rational restraint and accused the United States of blackmail. Late on Friday, China's finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the...

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Iran Air to receive 5 ATR planes before US sanctions

Iran Air to receive 5 ATR planes before US sanctions

Iran Air said Saturday it was set to take delivery of five new planes from Franco-Italian firm ATR just before renewed U.S. sanctions go into effect. "Based on existing agreements, five new ATR aircraft will land at Mehrabad Airport at 9 a.m. (0430 GMT) tomorrow (Sunday)," the national...

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US sanctions unacceptable, have limited economic impact: Turkey

US sanctions unacceptable, have limited economic impact: Turkey

United States sanctions imposed on Turkey over the trial of an American pastor accused of backing terrorism are unacceptable and will have limited impact on the Turkish economy, Treasury and Finance Minister Berat Albayrak said Thursday. Albayrak said Turkey's priority was to resolve...

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Spending on future tech eats into BMW quarterly profit

Spending on future tech eats into BMW quarterly profit

Net profit at BMW fell 6 percent in the second quarter as it spent more on developing new technologies for electric, autonomous and digitally connected automobiles, the luxury carmaker said Thursday. Profit came in at 2.08 billion euros ($2.42 billion), down from 2.22 billion in the...

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Rusal shares slip in early Moscow trade after US Treasury extends deadline

Rusal shares slip in early Moscow trade after US Treasury extends deadline

Shares in Russian aluminum producer United Company Rusal slipped 0.7 percent in early trading on the Moscow exchange Wednesday after the U.S. Treasury extended the deadline for divesting from the sanctioned company. The U.S. Treasury in April imposed sanctions against billionaire Oleg...

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Turkish steelmakers eye push into West Africa

Turkish steelmakers eye push into West Africa

Turkish steelmakers are looking to expand in West Africa and other emerging markets in response to tariffs and planned quotas which threaten their sales to the United States and the European Union, a senior sector official said. Namik Ekinci, board chair for the Turkish Steel Exporters...

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Iran's rial hits record-low 100,000 to the dollar

Iran's rial hits record-low 100,000 to the dollar

Iran's currency hit a record low on Sunday of 100,000 rials to the dollar amid a deepening economic crisis and the imminent return of full U.S. sanctions. The unofficial rate stood at 102,000 rials by midday, according to Bonbast, one of the most reliable sites for tracking the Iranian...

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Iran woos local investors as US sanctions loom, currency falls

Iran woos local investors as US sanctions loom, currency falls

Iran plans to offer price and tax incentives to private investors to take over idle state projects and help boost the economy, state media reported on Saturday, as the country faces likely U.S. sanctions and the exit of many foreign companies. In May the United States pulled out of a...

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US-Europe trade tensions ease, questions remain on soy: Germany

US-Europe trade tensions ease, questions remain on soy: Germany

The trade relationship between the United States and Europe is improving, German Agriculture Minister Julia Kloeckner said Saturday, but there is no guarantee the bloc will buy the quantity of soybeans that Washington expects. U.S. President Donald Trump and Jean-Claude Juncker,...

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Egypt hikes gas prices by up to 75 pct in IMF-backed austerity plan

Egypt hikes gas prices by up to 75 pct in IMF-backed austerity plan

Egypt said on Saturday it was raising the price of natural gas for home and commercial use by up to 75 percent, the latest move in an IMF-backed austerity program that has left many Egyptians struggling to make ends meet. The increases follow hikes to fuel, electricity and public...

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Jordan to revive once flourishing trade route after Nasib Crossing capture

Jordan to revive once flourishing trade route after Nasib Crossing capture

  (Zaman Al Wasl)- Two good news the Jordanian government has received in four days that may lessen the deteriorating economy crisis as the main border crossings in Syria have turned under the regime control. Nasib border crossing with Jordan and al-Tanaf border crossing with Iraq...

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World oil supply risks being 'stretched to limit': IEA

World oil supply risks being 'stretched to limit': IEA

Rising global oil supply, driven by crude giants Saudi Arabia and Russia, may come under pressure as key producers face disruptions, the International Energy Agency said Thursday. The IEA welcomed in its July report last month's agreement between the Organization of the Petroleum...

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France says Europe united against U.S. tariffs

France says Europe united against U.S. tariffs

The French government insisted Sunday that Washington should expect united retaliation from Europe to further tariff increases after Germany signaled it was prepared to negotiate. With Germany’s powerful car industry facing the threat of higher U.S. duties, Chancellor Angela Merkel...

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Germany's top court OKs use of VW documents in diesel probe

Germany's top court OKs use of VW documents in diesel probe

Germany's highest court says investigators can examine internal documents seized last year from automaker Volkswagen as part of a probe into the diesel emissions scandal. The Federal Constitutional Court Friday dismissed a legal complaint from Volkswagen seeking to block authorities...

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US offers German car bosses 'zero tariffs' solution to trade row-Handelsblatt

US offers German car bosses 'zero tariffs' solution to trade row-Handelsblatt

The U.S. ambassador to Germany has told German car bosses that President Donald Trump would suspend threats to impose tariffs on cars imported from the European Union if the bloc lifted duties on U.S. cars, a German newspaper reported Wednesday. Handelsblatt said Ambassador Richard...

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Merkel warns Trump against trade war over car tariffs threat

Merkel warns Trump against trade war over car tariffs threat

German Chancellor Angela Merkel Wednesday warned U.S. President Donald Trump against unleashing an all-out trade war after he threatened to impose steep tariffs on cars from the European Union. Both sides were already locked in a "trade conflict" since Trump's decision to slap punitive...

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US wants to reduce Iran's oil revenue to zero

US wants to reduce Iran's oil revenue to zero

The U.S. wants to reduce Iran’s oil revenue to zero, the State Department director of policy planning said Monday. "We are working to minimize disruptions to the global market but we are confident there is sufficient global spare oil production capacity," Brian Hook told reporters....

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