Daily Podcast: China praises Trump-Xi truce to halt trade war : Bulletin: Business Today
Business Today

Daily Podcast: China praises Trump-Xi truce to halt trade war

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December 3, 2018

China praises Trump-Xi truce to halt trade war; promises to import more from US

Chinese President Xi Jinping and his US counterpart Donald Trump's decision to suspend imposing of any new tariffs for 90 days for talks to address the trade dispute has put brakes on the escalating trade war between the world's two largest economies, a relieved China said on Sunday. At their "highly successful" dinner meeting on the sidelines of the annual G-20 Summit in Argentina's capital Buenos Aires, Trump agreed to postpone for 90 days a scheduled increase in tariffs on USD 200 billion in Chinese imports, while Xi agreed to purchase a very substantial amount of US products so as to reduce the USD 375 billion trade deficit between the two countries.

Train 18 crosses 180 kmph speed limit during test run

India's first locomotive-less train, known as Train 18, breached the 180 kmph speed limit during a test run on Sunday, a senior railway official said here. When this Rs 100-crore indigenously designed train is made operational, it will become the country's fastest train. If all things go well, Train 18 will replace the current Shatabdi Express - a day train. Train 18 is capable of touching 200 kmph provided the rest of Indian Railways' system such as tracks and signals permit, officials said. The ICF will roll out one more Train 18 this fiscal and four by the next fiscal.

BSNL employee unions suspend indefinite strike

All employee unions of BSNL on Sunday, decided to defer their indefinite strike to December 10 if they fail to resolve issues in the proposed meeting with Telecom Minister Manoj Sinha. The employee unions met Telecom Secretary Aruna Sundararajan Sunday and observed improvement in some of the issues that they have been raising, such as allotment of 4G spectrum, pension revision and payment of pension contribution by BSNL as per the government rule.

WhatsApp chief seeks RBI nod to expand payment services to all users in India

WhatsApp Chief has written to the Reserve Bank of India (RBI), seeking a formal nod to expand payments services to all its 200 million users in India. The messaging app, which has drawn fire from the government over spread of fake messages on its platform, continues to wait for a regulatory clearance to launch full-fledged payments operations in India - months after its 'testing' amassed nearly one million users, and almost two years since it first began discussions with the government on its payments services plans. The development comes at a time when competitors such as Google have forged ahead with their payments offerings.

Jet Airways to close services on seven Gulf routes amid financial woes

Struggling to keep it afloat in the wake of a dismal financial performance in the last three quarters, Jet Airways is withdrawing its flight services on as many as seven Gulf routes from this month, a source said. The Naresh Goyal-controlled airline will not operate as many as 39 services per week to Doha, Muscat, Abu Dhabi and Dubai from various domestic cities. Once a key market for Jet Airways, the lower demand and high competition have made a good number of routes in the Gulf economically unviable, forcing the airline to withdraw operations from there

Indian Railways plans to increase the speed of Kalka-Shimla trains

Next week, the Indian Railways' research and development wing will begin efforts to increase the speed of trains on Kalka-Shimla narrow gauge route from the present 25kmph to 35kmph, officials said. This is the first time the railways is trying to bump up the speed on the route, which will reduce the journey time between the two stations by at least an hour.

Swiss government agrees to share details of two firms, three persons with India

As Switzerland continues to shed its image as a safe haven for alleged black money, the Alpine nation has agreed to share with Indian authorities the details about two companies and three individuals who are facing multiple probes back in India. One of the two Indian companies used to be a publicly-listed entity and has already faced the wrath of capital markets regulator Sebi for multiple violations, while the other firm is said to have political links in Tamil Nadu. Similar requests have also been accepted for three individuals

Nasscom raises concerns over US govt latest proposal on H-1B visas

Nasscom has raised concerns over the US government's latest proposal that will require H-1B visa seeking firms to electronically register their petitions in advance, saying this will lead to "uncertainties" and could put US jobs at risk. The IT industry body, in a statement, said it will carefully review the 139-page proposal and evaluate its implications for US companies and the economy, and then submit comments.

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