International News - Page 29

Portugal to pump in $6 bn to bail out largest listed bank Banco Espirito Santo

The bailout is a setback for Portugal just months after the country emerged from a 78 billion euros, three-year bailout financed by the European Union (EU) and the International Monetary Fund (IMF).

Stop complaining and show more social responsibility: Obama tells US CEOs

Obama has increasingly promoted populist economic measures such as raising the minimum wage to motivate Democratic voters ahead of critical November congressional elections, in which his Democrats face the prospect of losing control of the Senate.

From TVs to lettuce: Panasonic wants to feed Singaporeans veggies

A Panasonic unit last week started selling to a chain of Japanese restaurants in Singapore fresh produce grown in what it says is the first licensed indoor vegetable farm in the island state.

Toyota reaps profits thanks to gas guzzlers, but betting big on green cars

Toyota will further burnish its image as a green technology pioneer next year when it readies a fuel-cell vehicle for launch by end-March.

Power pact: Modi offers Nepal $1 bn loan in regional diplomacy push

Modi is on a two-day visit to Kathmandu to help speed up negotiations on a power trade pact that is at the centre of his new diplomatic drive.

WTO: India is not really the villain, and it's another rap on the knuckles to the Americans

By not allowing the easing of trade through a Trade Facilitation Agreement, the West suggests, India has prevented the saving of up to $1 trillion in trade-related costs, and may even have mortally wounded the World Trade Organization (WTO).

Indian drugmakers to pay 12-15% higher facility fees as USFDA hikes rates

The US laws authorise the drug and health watchdog to assess and collect user fees for certain applications and supplements for human generic drug products.

Modi heads to Nepal: Power trade pact, regional diplomacy push on the agenda

His will be the first bilateral visit to Nepal by an Indian prime minister in 17 years, though Indian leaders have routinely attended regional summits in Kathmandu.

WTO deal: Can India now reframe power equations of globalisation?

Contrary to popular opinion, this tussle between global industry and peasantry is not irreconcilable. India could well be the key theatre where the power equation between these segments is reconfigured to create both sustainable and equitable outcomes

Microsoft sues Samsung in US on failing to pay royalty on patent licenses

The Microsoft lawsuit, filed in a Manhattan federal court, seeks monetary recovery from Samsung but does not publicly disclose the amount in dispute.

Not economic diplomacy, US and India will benefit most from the energy sector

Cooperation in the energy sector offers a chance for India and the US to build on a mutually beneficial and complementary relationship. The US will gain from having a large, long-term market while India will benefit from cheaper and more diversified energy sources

9 reasons why India's veto may be beginning of the end for WTO

India's tough diplomacy blocked a landmark world trade treaty late on Thursday, despite last-ditch talks to rescue what would have been the first global trade reform since the creation of the World Trade Organization 19 years ago.

Deeply disappointed: WTO members voice frustration as India blocks global trade deal

WTO ministers had already agreed the global reform of customs procedures known as "trade facilitation" in Bali, Indonesia, last December, but were unable to overcome last minute Indian objections and get it into the WTO rule book by the July 31 deadline.

China's Alibaba invests $120 mn into mobile gaming company Kabam

Alibaba, which will make its highly anticipated Wall Street debut this year, has grown its pool of U.S. investments in content, e-commerce and social media over the past 18 months. It has built an M&A scouting team in this country and forged ties in Silicon Valley.

Blame game begins: US accuses India of putting WTO future in jeopardy

India has been maintaining that it would not adopt the protocol on the trade facilitation agreement until a permanent solution is found on the public stock holding for food security purposes.

China July PMIs jump to 18-month high, add to view economy is steadying

India's food security demands block $1 trillion WTO deal on customs rules

India had insisted that, in exchange for signing the trade facilitation agreement, it must see more progress on a parallel pact giving it more freedom to subsidise and stockpile food grains than is allowed by WTO rules.

Bad news: Apple to lay off 200 people from recently acquired Beats Electronics

The job cuts will mainly hit human resources, finance and other departments with significant overlap between the two, the news agency reported.

Boeing to build biggest, longest dreamliner 787-10, expected in 2017

The newest and longest of three 787 models, the 787-10 also is eagerly awaited by airlines seeking its increased seating.

Red alert: Argentina default imminent as talks with holdout creditors break down

Argentine banks scrambled to put together a proposal to buy out the non-performing debt held by hedge funds and avert a default.

Cost of strong stance? Some WTO members discussing customs deal without India

India has demanded the deal, which must be approved on Thursday, be accompanied by a parallel agreement giving it more freedom to subsidise and stockpile food grains than currently allowed under WTO rules.

China should lower 2015 GDP target to 7%: IMF

The IMF cut its 2014 and 2015 economic growth forecasts for China last week. It had projected in April that the world's second-largest economy would grow 7.5 percent this year, and 7.3 percent next year.

Volkswagen narrows gap between Toyota as global auto leader race hots up

Toyota, reigning at the top spot in the auto industry for two years in a row, announced relatively robust global sales growth of 3.8 percent for the first six months of the year to 5.097 million vehicles on Wednesday, a record first-half result.

Finmeccanica settles with Italy prosecutors to end Indian chopper deal probe

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