ECONOMICS

_98696832_6ed4e5dc-6c2e-4b76-aee5-60aea4e81a12 Trump and Xi offer competing visions for trade
US President Donald Trump and his Chinese counterpart Xi Jinping have set out starkly different visions for the future of global trade in speeches at a summit in Vietnam, BBC report. In a defiant address, Mr Trump told the Asia-Pacific Economic Co-operation (Apec) meeting that the US would no longer tolerate "chronic trade abuses". In contrast, President Xi said globalisation was..
a Some Auckland petrol stations run out of fuel
Several petrol stations in Auckland have been hit by fuel shortages as problems caused by damage to a pipeline in New Zealand's largest city spread, BBC report. Z Energy confirmed to the BBC that 13 service stations had run out of 95 octane petrol by Tuesday. The firm said fuel was being trucked into the city and it did not expect the problem to worsen. Fuel supplies to cars and planes in..
a Jet fuel shortage leaves passengers stranded in New Zealand
Thousands of airline passengers were stranded in Auckland on Monday after a burst pipeline cut jet fuel supplies to New Zealand's largest airport, BBC report. The damaged pipeline is Auckland Airport's only source of jet fuel. The disruption is expected to last at least a week as work continues to repair the pipe, the operator said. Fuel supplies have been rationed and airlines are..
a Ryanair to cancel 40-50 flights per day
Ryanair is to cancel 40 to 50 flights every day for the next six weeks, in a bid to improve punctuality of flights, BBC report. The budget Irish-based airline announced the plan on Friday, saying that it was "unacceptable" that its punctuality had fallen below 80% in the first half of this month. It also said it had to clear a backlog of staff leave by the end of the year. The move could..
a Nepal parliamentary committee confirms corruption in NOC land purchase scam
A meeting of the Industry, Commerce and Consumer Rights Relations Committee of the Legislature-Parliament has submitted a report concluding that irregularities were carried out in the land purchase deal commissioned by the Nepal Oil Corporation, BBC report. A sub-committee formed by the Committee to prepare the details on the reported irregularities in the land procurement came up with a..
a Qatar presses UN to take action against Saudi bloc
Qatar's foreign minister says the blockade by neighbouring Gulf countries violates international law and human rights and the United Nations needs to take action against the Saudi-led bloc, BBC report. Speaking at a UN Human Rights Council session in Geneva on Monday, Sheikh Mohammed bin Abdulrahman Al Thani said Qatar faced numerous challenges because of the "illegal imposition" by..
Pokhara 75 per cent hotel booking in Nepal with start of tourism season
Hotel booking has gone up with the start of the tourism season in the country, THT report. Hotel Association of Nepal (HAN) said that 75 per cent hotels are already booked at present. The hotel bookings in the corresponding season last year was only 60 per cent, with the cancellation of many bookings.   HAN general secretary Binayak Shah said that more than 900 thousand foreign..
a 4 Mega Watt electricity likely to be added to Nepal’s national grid
The 4 Mega Watt of electricity generated from Sardi River in Kaski district is likely to be added to the national grid in coming week, THT report. The additional electricity to the national grid would help to ease load shedding in the country.   Mandakini Hydro Power Pvt Ltd had generated the electricity, however, the power is yet to be tested in transmission line. Project..
a Euro increase to 18-month high against dollar
The euro has hit $1.20 for the first time since January 2015 as the prospect of a US interest rate rise recedes, BBC report. Hurricane Harvey's impact has led analysts to assume the US central bank will not want to risk curbing economic growth and fears over North Korea's activities have unnerved investors. A rise in interest rates tends to draw investors to a currency, taking advantage of..
a Business councils disband over Donald Trump remarks
President Trump has said he is scrapping two business councils after more bosses quit over his handling of violent clashes in Virginia, according to BBC. Business leaders left the White House manufacturing council after the backlash against how he reacted to the far-right rally last weekend. The clashes culminated in a woman's death and nearly 20 wounded when a car ploughed into a..
a Governer warns on growing Brexit uncertainty
The governor of the Bank of England has warned that uncertainty over Brexit is already weighing on the economy, BBC report. Mark Carney's comments came as the Bank voted to hold rates and cut growth forecasts. It edged this year's growth forecast down to 1.7% from its previous forecast of 1.9% made in May. It also cut its forecast for 2018 from 1.7% to 1.6%. Sterling dropped to a..
_97156417_saudibeach Saudi plans luxury beach resorts on Red Sea
Saudi Arabia has launched a massive tourism development project that will turn 50 islands and other sites on the Red Sea into luxury resorts, BBC report. It hopes to attract both foreign tourists and domestic visitors as part of efforts to diversify the Saudi economy, as oil prices have fallen. Visa restrictions on foreigners are to be eased in the tourist zone. However, it is not clear..
_97120950_040777609 Sri Lanka signs new deal with China
Sri Lanka has signed a $1.1bn (£837m) deal with China for the control and development of the southern deep-sea port of Hambantota, BBC report. The deal had been delayed by several months over concerns that the port could be used by the Chinese military. The government has given assurances that China will run only commercial operations from the port, on the main shipping route between Asia..
_96521234_gettyimages-618587404 Amazon founder beats Bill Gates to becomes world’s richest man
Amazon founder Jeff Bezos has overtaken Bill Gates to become the world's richest person, worth $91.4bn (£70bn), BBC report. A 2.5% rise in Amazon shares on Thursday means Mr Bezos's wealth has now eclipsed the Microsoft co-founder by $1.4bn, according to Forbes. Mr Bezos, 53, owns about 17% of the shares in Amazon, whose value has now exceeded $500bn. The online retailer reports second..
_97082785_cyclist_getty Diesel and petrol vehicles to be banned from 2040 in UK
New diesel and petrol cars and vans will be banned in the UK from 2040 in a bid to tackle air pollution, the government is set announce, BBC report. Ministers will also unveil a £255m fund to help councils tackle emissions from diesel vehicles, as part of a £3bn package of spending on air quality. The government will later publish its clean air strategy, favouring electric cars, before a..
eps-klt-applicants-line 12,000 plus passed Korean Language Test
A total of 12,108 examinees have passed the Korean Language Test (KLT) administered as a part of the Employment Permission System (EPS) to South Korea, THT report. The EPS Korea Branch of Department of Foreign Employment (DoFE) said that 12,108 examinees have passed the KLT given by the Human Resource Department of South Korea.   The name lists of the successful candidates are..
a Two largest dark web marketplaces shut down
Two of the largest dark web marketplaces have been shut down following a "landmark" international law enforcement investigation, BBC report. The AlphaBay and Hansa sites had been associated with the trade in illicit items such as drugs, weapons, malware and stolen data. According to Europol, there were more than 250,000 listings for illegal drugs and toxic chemicals on AlphaBay. Hansa was..
a Brexit hits company investment plans
Chancellor Philip Hammond has told the BBC's Andrew Marr Show that businesses are holding off from investing in the UK because of uncertainty about Brexit, BBC report. "It is absolutely clear businesses where they have discretion over investment, where they can hold off, are doing so - you can understand why. "They are waiting for more clarity about what the future relationship with Europe..
a Trump : UK-US trade deal to happen quickly
US President Donald Trump has said he expects a trade deal with the UK to be completed "very, very quickly", BBC report. Speaking at the G20 summit in Hamburg, he also said he will come to London. The US president is holding one-to-one talks with UK Prime Minister Theresa May shortly to discuss a post-Brexit trade deal. It is one of a series of one-to-one meetings with world leaders which..
a US jobs growth faster
US employment rose by more than expected last month, but wage growth remained subdued, latest figures show.The economy added 222,000 jobs in June, the US Department of Labor said, and job creation in April and May was higher than previously estimated. However, despite the job gains and a low 4.4% unemployment rate, wage growth remained tepid. Average wages rose 2.5% year-on-year, which..