Not quite what it seems: Japan’s strong growth masks problems

Japan’s economy grew faster than expected in the first quarter, but spending and exports fell sharply. Better-than-expected economic growth in Japan in the first quarter of this year could give Prime Minister Shinzo Abe enough political cover to push through a controversial proposal to hike the country’s sales tax, analysts say. But beneath the rosy headline figure lie some troubling […]

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Hopes for 'substantial progress' as US-China trade talks resume

US officials meet Chinese counterparts in Beijing in talks that will also cover exchange rates and trade surplus. China and the United States have begun their latest talks in Beijing aimed at ending a bitter trade war. US Treasury Secretary Steven Mnuchin, who had a working dinner the night before with China Vice Premier Liu He, is holding a full […]

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Alibaba sues Dubai's Alibabacoin

Alibaba accused Alibabacoin of using its ‘single-minded focus’ to capitalise on plaintiff’s reputation. A Dubai-based cryptocurrency company called Alibabacoin Foundation has rebuffed allegations of trademark infringement brought against it by the giant Chinese online retailer Alibaba Group Holding in a US lawsuit last week. Hours after the lawsuit was filed, US District Judge Kimba Wood issued a temporary restraining order […]

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Vietnam calls for tougher measures on cryptocurrency

Vietnam to tighten “management of activities related to bitcoin and other cryptocurrency”, the government said. Vietnam on Wednesday urged greater vigilance against cryptocurrency transactions and investments, as officials in its economic hub asked the police to investigate what could prove to be the country’s largest cryptocurrency fraud. In a directive, Prime Minister Nguyen Xuan Phuc told the State Bank of […]

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Qatar will have enough milk by Ramadan: Baladna

Since the Gulf crisis, Qatari dairy firm imported thousands of cows from Europe and the US. The Qatari market is expected to become self-sufficient in dairy products by the Muslim holy month of Ramadan, in about two months. Speaking to Anadolu news agency, Moutaz al-Khayyat, chairman of the board of directors for Baladna, said the company is now in a […]

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Qatar will have enough milk by Ramadan: Baladna

Since the Gulf crisis, Qatari dairy firm imported thousands of cows from Europe and the US. The Qatari market is expected to become self-sufficient in dairy products by the Muslim holy month of Ramadan, in about two months. Speaking to Anadolu news agency, Moutaz al-Khayyat, chairman of the board of directors for Baladna, said the company is now in a […]

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India court ruling bars foreign law firms from practice

Foreign firms can only advise Indian clients on matters pertaining to foreign laws on temporary ‘fly in, fly out basis’. New Delhi – India’s top court has refused to allow the entry of foreign law firms wanting to practise law in Indian courts. Foreign lawyers can only advise their clients in India on matters pertaining to foreign laws on a […]

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Yemen's central bank closes over shortage of funds

The Yemeni central bank has announced it is closing because it has run out of money. Saudi Arabia had promised a large deposit to shore up Yemen’s currency – but that money never arrived, and now the bank is closing due to lack of funds. This comes after the resignation of two Yemeni ministers in opposition to the kingdom’s meddling. […]

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India's Punjab National Bank reports $1.8bn fraud

Offices and Mumbai home of billionaire jeweller Nirav Modi raided after PNB hit by $1.8bn fraudulent transaction. India is investigating a $1.77bn fraud case at the state-run Punjab National Bank (PNB), according to government officials. The bank in a statement issued on Wednesday said it had “detected some fraudulent and unauthorised transactions in one of its branches in Mumbai for […]

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Sudan protests: Three dead in 'bread protests'

Sudan’s government has cut subsidies on wheat imports, driving the price of bread up and the Sudanese to the streets to protest against their rising cost of living. Three people have died in protests against the rising cost of basic foods in Sudan. Protests sparked after the government decided to cut subsidies, which led to the increase in prices. The […]

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