Pakistan Prime Minister Imran Khan again calls for Trump to mediate on Kashmir dispute

Pakistan Prime Minister Imran Khan once again called for U.S. President Donald Trump and the United Nations to play mediator between his country and neighbor India over disputed territory in Kashmir. “Kashmir is, you know, it’s a far more serious problem than people realize, (than) the world realizes. Khan was referring to the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist group affiliated with Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party. “That’s why I want


Pakistan Prime Minister Imran Khan once again called for U.S. President Donald Trump and the United Nations to play mediator between his country and neighbor India over disputed territory in Kashmir.
“Kashmir is, you know, it’s a far more serious problem than people realize, (than) the world realizes.
Khan was referring to the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist group affiliated with Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party.
“That’s why I want
Pakistan Prime Minister Imran Khan again calls for Trump to mediate on Kashmir dispute Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, kashmir, world, rss, mediate, calls, state, taken, dispute, prime, imran, united, president, serious, minister, india, khan, pakistan, trump


Pakistan Prime Minister Imran Khan again calls for Trump to mediate on Kashmir dispute

Pakistan Prime Minister Imran Khan once again called for U.S. President Donald Trump and the United Nations to play mediator between his country and neighbor India over disputed territory in Kashmir.

Speaking to CNBC’s Hadley Gamble, Khan claimed India has been taken over by “extremist ideology” that could potentially spill over into armed conflict between the two nuclear rivals.

“Kashmir is, you know, it’s a far more serious problem than people realize, (than) the world realizes. The problem is that India has been taken over by an extremist ideology, which is called Hindutva or the RSS,” he said at the World Economic Forum in Davos, Switzerland.

Khan was referring to the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist group affiliated with Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party.

“This is serious because there are two nuclear-armed countries,” Khan said. “That’s why I want President Trump, head of the most powerful country in the world — he should intervene right now. United Nations, or President Trump through the U.N. at least.”

Last year, fresh off a landslide re-election victory in Parliament, Modi’s government revoked the state of Jammu & Kashmir’s special status that allowed it to make its own laws. As a result, people from outside the state can potentially move in to settle there, buy land, and take government jobs or scholarships.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, kashmir, world, rss, mediate, calls, state, taken, dispute, prime, imran, united, president, serious, minister, india, khan, pakistan, trump


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Singapore minister says ‘fake news’ law not intended to target opposition parties

S. Iswaran, Singapore’s communications and information minister. Munshi Ahmed | Bloomberg | Getty ImagesSingapore’s communications and information minister, S. Iswaran, on Tuesday dismissed the view that his country’s “fake news” law is intended to stamp down on opposition parties. “I think that’s hardly the case,” he told CNBC’s Geoff Cutmore and Steve Sedgwick at the World Economic Forum in Davos, Switzerland. Last month, the government invoked the law to order an opposition party to publish c


S. Iswaran, Singapore’s communications and information minister.
Munshi Ahmed | Bloomberg | Getty ImagesSingapore’s communications and information minister, S. Iswaran, on Tuesday dismissed the view that his country’s “fake news” law is intended to stamp down on opposition parties.
“I think that’s hardly the case,” he told CNBC’s Geoff Cutmore and Steve Sedgwick at the World Economic Forum in Davos, Switzerland.
Last month, the government invoked the law to order an opposition party to publish c
Singapore minister says ‘fake news’ law not intended to target opposition parties Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, opposition, intended, social, media, singapore, law, iswaran, thats, think, party, parties, fake, target, minister


Singapore minister says 'fake news' law not intended to target opposition parties

S. Iswaran, Singapore’s communications and information minister. Munshi Ahmed | Bloomberg | Getty Images

Singapore’s communications and information minister, S. Iswaran, on Tuesday dismissed the view that his country’s “fake news” law is intended to stamp down on opposition parties. “I think that’s hardly the case,” he told CNBC’s Geoff Cutmore and Steve Sedgwick at the World Economic Forum in Davos, Switzerland. Iswaran said it’s widely recognized that digital technologies and communication platforms are great enablers for society, but there are potential risks such as the dissemination of misinformation. “I think there is a global dialogue. Different countries have been seeking out different methodologies to deal with it,” he said, referring to concerns around fake news.

“This is our approach to it. At the heart of it, it’s very simple: It’s a juxtaposition of the truth with the false statement or fact. That’s all that is required, and if the party concerned is aggrieved, they can have recourse,” Iswaran added. “We think it is a system that will work in our context and help address some of the concerns our citizens have.” Singapore passed the Protection from Online Falsehoods and Manipulation Bill in October last year, which dictates websites to run government “correction notices” alongside content it deems false. Under the law, the government will also be able to issue so-called “take down” orders that require the removal of content posted by social media companies, news organizations or individuals.

Last month, the government invoked the law to order an opposition party to publish corrections on two social media posts and an article on its website about local employment, Reuters reported. It was the first time the law had been used against a political party, according to the news wire.

Hong Kong’s instability


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, opposition, intended, social, media, singapore, law, iswaran, thats, think, party, parties, fake, target, minister


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Uber just sold its food delivery business in India to local rival Zomato

Ride-hailing giant Uber said Tuesday it sold its food delivery business in India to its competitor Zomato in an all-stock transaction. The sale gives Uber a 9.99% stake in the Indian restaurant aggregator and food delivery start-up. Uber Eats is set to discontinue operations starting Tuesday, and it will direct restaurants, delivery partners and users to the Zomato app. Uber will continue competing in the Indian ride-hailing market against start-up Ola. Previously, Uber ceded ground in China and


Ride-hailing giant Uber said Tuesday it sold its food delivery business in India to its competitor Zomato in an all-stock transaction.
The sale gives Uber a 9.99% stake in the Indian restaurant aggregator and food delivery start-up.
Uber Eats is set to discontinue operations starting Tuesday, and it will direct restaurants, delivery partners and users to the Zomato app.
Uber will continue competing in the Indian ride-hailing market against start-up Ola.
Previously, Uber ceded ground in China and
Uber just sold its food delivery business in India to local rival Zomato Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, rival, business, food, stake, market, local, valuation, ridehailing, zomato, uber, sold, million, india, delivery


Uber just sold its food delivery business in India to local rival Zomato

Ride-hailing giant Uber said Tuesday it sold its food delivery business in India to its competitor Zomato in an all-stock transaction.

The sale gives Uber a 9.99% stake in the Indian restaurant aggregator and food delivery start-up.

Zomato is backed by Alibaba affiliate Ant Financial, which recently agreed to invest up to $150 million at a pre-money valuation of $3 billion, according to official filings from Zomato-shareholder Info Edge.

Based on that valuation, Uber’s stake in Zomato would be worth around $300 million. Uber declined to comment on the deal’s value.

Uber Eats is set to discontinue operations starting Tuesday, and it will direct restaurants, delivery partners and users to the Zomato app.

“India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader,” CEO Dara Khosrowshahi said in a statement.

The tech giant is under pressure from investors to turn its business around. Last year, the company reported a $5.2 billion loss in its second-quarter earnings and laid off hundreds of employees in 2019.

Uber will continue competing in the Indian ride-hailing market against start-up Ola. Previously, Uber ceded ground in China and Southeast Asia to local players Didi Chuxing and Grab, respectively and exited its Eats business in South Korea.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, rival, business, food, stake, market, local, valuation, ridehailing, zomato, uber, sold, million, india, delivery


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Beijing cracking down on IP theft could boost investment in China, former US negotiator says

He explained that the trade agreement’s provisions to protect intellectual property would make a difference for many of the companies doing business in China. They’re going to have due process for the judicial proceedings. It calls for China to submit an “Action Plan to strengthen intellectual property protection” within 30 days of the agreement taking effect. I’ll also make the point, this is going for China,” Willems said. Ultimately, “better intellectual property protection means more investm


He explained that the trade agreement’s provisions to protect intellectual property would make a difference for many of the companies doing business in China.
They’re going to have due process for the judicial proceedings.
It calls for China to submit an “Action Plan to strengthen intellectual property protection” within 30 days of the agreement taking effect.
I’ll also make the point, this is going for China,” Willems said.
Ultimately, “better intellectual property protection means more investm
Beijing cracking down on IP theft could boost investment in China, former US negotiator says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, investment, property, trade, willems, boost, theyre, theft, white, negotiator, intellectual, going, beijing, china, cracking, agreement


Beijing cracking down on IP theft could boost investment in China, former US negotiator says

President Donald Trump, with (L-R) Vice President Mike Pence, Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer, speaks during a press conference with Chinas Vice Premier Liu He(not shown), the countrys top trade negotiator, before they sign a trade agreement between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020.

If Beijing cracks down hard on intellectual property thefts, it would not only boost the U.S. economy but it would also be good for China, according to a former top White House trade official.

Taking steps to protect trade secrets of foreign businesses operating in the world’s second-largest economy was part of the “phase one” trade deal that U.S. President Donald Trump signed with China on Wednesday.

“To me, the most significant part of this (deal) was what the U.S. was able to achieve on intellectual property,” Clete Willems, a partner at law firm Akin Gump, told CNBC’s “Squawk Box” on Thursday. “Trade secrets theft has been a long-time concern for U.S. businesses, and businesses around the world.”

Willems was previously the deputy director of the National Economic Council and served as the lead trade negotiator for the United States at multilateral summits like the G-7 and G-20.

He explained that the trade agreement’s provisions to protect intellectual property would make a difference for many of the companies doing business in China. “They’re going to have criminal penalties. They’re going to have due process for the judicial proceedings. They’re going to apply those penalties broader than they did in the past,” Willems said, adding there are provisions about pharmaceutical patents and counterfeit goods in the trade pact.

Wednesday’s agreement takes steps to root out several practices by Beijing that has irked the White House and members of Congress from both parties, including intellectual property theft and forced technology transfers from U.S. firms in exchange for Chinese market access.

It calls for China to submit an “Action Plan to strengthen intellectual property protection” within 30 days of the agreement taking effect. The proposal would include “measures that China will take to implement its obligations” and “the date by which each measure will go into effect.” (Read the full agreement here)

Part of the deal also details a $200 billion increase in Beijing’s purchases of U.S. goods over two years as well as commitment from Beijing to allow companies to operate without “any force or pressure” to hand over their technology — that, along with the trade secrets protection provisions, are likely to have ramifications for the U.S. tech sector, where firms want market access in China but are also suspicious over how government officials can access private data stored there.

“If you put it all together, it is going to be a big boost for the U.S. economy. I’ll also make the point, this is going for China,” Willems said. “This really empowers those in China that want to reform their system, want to make it more market-oriented and help them move down that path.”

Ultimately, “better intellectual property protection means more investment in China,” he added.

Still, some experts have expressed concerns about how the U.S. would ensure China keeps up with its commitments. Willems said the promise of further reduction in U.S. tariffs in the second phase of the trade agreement would likely be an incentive for Beijing to “faithfully implement this agreement.”

Another option for Washington would be to convince allies to work with the U.S. to enforce the agreement in a multilateral system to make it more sustainable and prevent Beijing from backsliding from its commitments, according to Willems.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, investment, property, trade, willems, boost, theyre, theft, white, negotiator, intellectual, going, beijing, china, cracking, agreement


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Asia markets set to advance after US and China signed a partial trade agreement

Asia markets looked set to trade slightly higher on Thursday after the United States and China ended some uncertainties for the world economy by signing a partial trade agreement. In Australia, the benchmark ASX 200 rose 0.63% in early trade, with all sectors trading up. U.S. President Donald Trump signed a partial trade deal with China on Wednesday that takes steps to root out several practices by Beijing that have irked the White House and members of Congress from both parties. The deal also d


Asia markets looked set to trade slightly higher on Thursday after the United States and China ended some uncertainties for the world economy by signing a partial trade agreement.
In Australia, the benchmark ASX 200 rose 0.63% in early trade, with all sectors trading up.
U.S. President Donald Trump signed a partial trade deal with China on Wednesday that takes steps to root out several practices by Beijing that have irked the White House and members of Congress from both parties.
The deal also d
Asia markets set to advance after US and China signed a partial trade agreement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, deal, agreement, world, set, partial, china, advance, markets, chinese, 200, trade, yearsstill, signed, asia, higher, rose


Asia markets set to advance after US and China signed a partial trade agreement

Asia markets looked set to trade slightly higher on Thursday after the United States and China ended some uncertainties for the world economy by signing a partial trade agreement.

Nikkei futures pointed to a fractionally higher open for the Japanese market.

In Australia, the benchmark ASX 200 rose 0.63% in early trade, with all sectors trading up. The heavily-weighted financial subindex rose 0.77% as the country’s major banking stocks advanced.

U.S. President Donald Trump signed a partial trade deal with China on Wednesday that takes steps to root out several practices by Beijing that have irked the White House and members of Congress from both parties.

Those include intellectual property theft and forced technology transfers from U.S. firms in exchange for Chinese market access. The deal also details a $200 billion increase in Chinese purchases of U.S. goods over two years.

Still, some analysts say the agreement is ‘fragile’ and that more tariffs remain a possibility.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, deal, agreement, world, set, partial, china, advance, markets, chinese, 200, trade, yearsstill, signed, asia, higher, rose


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Asia to trade mixed as investors await signing of US- China trade truce

Asia Pacific markets looked set to trade mixed on Wednesday ahead of the U.S. and China signing a phase one trade deal. Nikkei shares pointed to a fractionally lower open for the Japanese market. In Australia, the benchmark ASX 200 rose 0.25% in early trade, with most sectors trading up. The session follows a muted finish on Wall Street overnight where major investment banks posted quarterly earnings. “Market moves have been relatively subdued ahead of the signing,” said Tapas Strickland, direct


Asia Pacific markets looked set to trade mixed on Wednesday ahead of the U.S. and China signing a phase one trade deal.
Nikkei shares pointed to a fractionally lower open for the Japanese market.
In Australia, the benchmark ASX 200 rose 0.25% in early trade, with most sectors trading up.
The session follows a muted finish on Wall Street overnight where major investment banks posted quarterly earnings.
“Market moves have been relatively subdued ahead of the signing,” said Tapas Strickland, direct
Asia to trade mixed as investors await signing of US- China trade truce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, expected, trade, ahead, signing, investors, markets, billion, asia, australia, truce, await, china, goods, mixed, deal


Asia to trade mixed as investors await signing of US- China trade truce

Asia Pacific markets looked set to trade mixed on Wednesday ahead of the U.S. and China signing a phase one trade deal.

Nikkei shares pointed to a fractionally lower open for the Japanese market. In Australia, the benchmark ASX 200 rose 0.25% in early trade, with most sectors trading up.

The session follows a muted finish on Wall Street overnight where major investment banks posted quarterly earnings.

Officials from the U.S. and China are expected to sign the trade agreement on Wednesday after the two countries last month agreed to the deal in principle, where Washington said it would cancel or reduce some tariffs in exchange for China purchasing more American products and addressing U.S. concerns on areas of technology and financial services.

The deal is expected to include a commitment from China to buy about $200 billion of U.S. goods over two years, which includes about $80 billion in manufactured goods, $53 billion in energy, $32 billion in agriculture and $35 billion in services.

“Market moves have been relatively subdued ahead of the signing,” said Tapas Strickland, director of economics and markets at the National Australia Bank, in a morning note.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, expected, trade, ahead, signing, investors, markets, billion, asia, australia, truce, await, china, goods, mixed, deal


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Chuck Schumer, in a letter to Trump, says a weak trade deal could hurt the US for years to come

Senate Minority Leader Chuck Schumer, D-N.Y., speaks during a press conference after the Senate Policy luncheons in the Capitol on Tuesday Dec. 10, 2019. Senate Minority Leader Chuck Schumer, in a Tuesday letter to President Donald Trump, expressed concern that a weak trade deal that fails to address “structural inequities” in the U.S.-China relationship could harm American workers and businesses for years to come. Trump and Chinese officials are due to sign a partial trade deal on Wednesday aft


Senate Minority Leader Chuck Schumer, D-N.Y., speaks during a press conference after the Senate Policy luncheons in the Capitol on Tuesday Dec. 10, 2019.
Senate Minority Leader Chuck Schumer, in a Tuesday letter to President Donald Trump, expressed concern that a weak trade deal that fails to address “structural inequities” in the U.S.-China relationship could harm American workers and businesses for years to come.
Trump and Chinese officials are due to sign a partial trade deal on Wednesday aft
Chuck Schumer, in a letter to Trump, says a weak trade deal could hurt the US for years to come Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, american, address, goods, trade, china, deal, weak, commitments, trump, schumer, hurt, come, chinese, beijing, phase, letter, chuck


Chuck Schumer, in a letter to Trump, says a weak trade deal could hurt the US for years to come

Senate Minority Leader Chuck Schumer, D-N.Y., speaks during a press conference after the Senate Policy luncheons in the Capitol on Tuesday Dec. 10, 2019.

Senate Minority Leader Chuck Schumer, in a Tuesday letter to President Donald Trump, expressed concern that a weak trade deal that fails to address “structural inequities” in the U.S.-China relationship could harm American workers and businesses for years to come.

Trump and Chinese officials are due to sign a partial trade deal on Wednesday after years of intense bilateral negotiations. Both sides reached an agreement last month, in which Washington agreed to cancel some new tariffs and reduce rates of other duties in exchange for China purchasing more American agricultural products and addressing U.S. concerns on areas of technology and financial services.

Schumer, one of the Democrats most supportive of Trump’s crackdown on China, previously accused the president of caving to Beijing with the phase one trade deal.

In his Tuesday letter, Schumer wrote that without firm commitments from Beijing that it will curtail its questionable practices, including forced technology transfers from foreign companies to local players, U.S. innovators will “continue to lose billions of dollars.” American firms will struggle to gain fair access to the Chinese market and millions of U.S. jobs will be at risk, he said.

“By giving away leverage with a temporary deal of some reduced tariff in exchange for American goods and vague promises of reform, as China has made time and time again, these structural issues will only become more challenging to address in future negotiations,” Schumer wrote.

“China pledging to make short-term purchases of American goods will not address the fundamental problems that undermine long-term U.S. economic opportunity, prosperity, and security,” he added.

On paper, the phase one deal includes “commitments from China to import various U.S. goods and services over the next two years” worth at least $200 billion, according to a U.S. Trade Representative document. Beijing is said to have also agreed to end its “long-standing practice” of forced technology transfer.

Schumer asked Trump to elucidate on six specific questions about the kind of commitments he had received from Beijing as part of the phase one deal:

What commitments, if any, address the Chinese government’s subsidy programs that continue to harm U.S. industry and workers? What commitments, if any, has China made on substantive state-owned enterprise reform as part of the “phase one” agreement? What commitments, if any, will curtail the dumping of Chinese products which puts American firms out of business and threatens U.S. jobs? What commitments, if any, will hold China accountable for unauthorized intrusions into U.S. commercial computer networks and cyber-enabled theft of intellectual property and sensitive commercial information? To what extent will this “phase one” agreement regain lost market share for U.S. farmers? Should farmers expect that additional rounds of program funding will address these inequities?

While experts have said the agreement is a step in the right direction, many are still unsure of exactly what the two countries are agreeing to and how they will enforce their deal.

During the trade war, the U.S. slapped tariffs on more than $500 billion in Chinese goods during the trade war, while Beijing retaliated by putting duties on more than $100 billion in American imports.

— CNBC’s Jacob Pramuk contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, american, address, goods, trade, china, deal, weak, commitments, trump, schumer, hurt, come, chinese, beijing, phase, letter, chuck


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US reportedly wants to resume talks with North Korea

The United States is said to have reached out to North Korea to restart diplomatic talks that stalled last October, news website Axios reported. Both countries have made little progress in their talks to dismantle North Korea’s nuclear and missile program. His threat came after he said the U.S. did not respond to North Korea’s repeated calls for concessions to reopen negotiations before the end of 2019. In November, North Korea fired two short-range projectiles into the sea off its east coast. R


The United States is said to have reached out to North Korea to restart diplomatic talks that stalled last October, news website Axios reported.
Both countries have made little progress in their talks to dismantle North Korea’s nuclear and missile program.
His threat came after he said the U.S. did not respond to North Korea’s repeated calls for concessions to reopen negotiations before the end of 2019.
In November, North Korea fired two short-range projectiles into the sea off its east coast.
R
US reportedly wants to resume talks with North Korea Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, wants, kim, korean, talks, nuclear, axios, trump, korea, north, resume, koreas, leader, reportedly


US reportedly wants to resume talks with North Korea

North Korea’s leader Kim Jong Un before a meeting with US President Donald Trump on the south side of the Military Demarcation Line that divides North and South Korea, in the Joint Security Area (JSA) of Panmunjom in the Demilitarized zone (DMZ) on June 30, 2019.

The United States is said to have reached out to North Korea to restart diplomatic talks that stalled last October, news website Axios reported.

Washington wants to get negotiations with Pyongyang “back on track” and implement leader Kim Jong Un’s “commitment” to the denuclearization of the Korean Peninsula, White House national security adviser Robert O’Brien told Axios.

O’Brien expressed cautious optimism about the fact that Kim hasn’t yet delivered his promised “Christmas gift” that many expected to be a nuclear weapons test, Axios said.

Both countries have made little progress in their talks to dismantle North Korea’s nuclear and missile program.

Kim said in December he will continue developing his country’s nuclear deterrent and introduce a new strategic weapon in the near future, according to state-run media KCNA. His threat came after he said the U.S. did not respond to North Korea’s repeated calls for concessions to reopen negotiations before the end of 2019.

The North Korean leader said in April he would wait until the end of 2019 for Washington to change its approach to denuclearization talks with Pyongyang — but it has been status quo since then and analysts warned that Kim could stay “true to his pledges.”

U.S. President Donald Trump sent birthday greetings to the North Korean leader last week, but the country’s foreign ministry advisor said Kim’s personal feelings were insufficient to return to past diplomacy, NBC News reported.

In November, North Korea fired two short-range projectiles into the sea off its east coast.

Under Kim, the reclusive state has conducted its most powerful nuclear test, launched its first-ever intercontinental ballistic missile and threatened to send missiles to the waters near Guam.

Read Axios report about U.S. plans to restart talks with North Korea here.

— CNBC’s Amanda Macias contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, wants, kim, korean, talks, nuclear, axios, trump, korea, north, resume, koreas, leader, reportedly


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Former RBI governor says India needs ‘significant reforms’ to keep young job seekers employed

India needs to implement significant reforms to revive its flagging economic growth and put more young job seekers to work, according to a former central bank governor. Growth in India’s economic output slowed to 4.5% in the three months that ended in September, which marked the slowest pace of expansion in six years. There’s emerging evidence that the economy might be picking up slowly, but growth level around 5% is insufficient for India, Raghuram Rajan told CNBC’s “Street Signs” on Monday. “I


India needs to implement significant reforms to revive its flagging economic growth and put more young job seekers to work, according to a former central bank governor.
Growth in India’s economic output slowed to 4.5% in the three months that ended in September, which marked the slowest pace of expansion in six years.
There’s emerging evidence that the economy might be picking up slowly, but growth level around 5% is insufficient for India, Raghuram Rajan told CNBC’s “Street Signs” on Monday.
“I
Former RBI governor says India needs ‘significant reforms’ to keep young job seekers employed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, reforms, young, bank, significant, growth, needs, revive, employed, job, seekers, india, rajan, rbi, governor, slowed


Former RBI governor says India needs 'significant reforms' to keep young job seekers employed

India needs to implement significant reforms to revive its flagging economic growth and put more young job seekers to work, according to a former central bank governor.

Growth in India’s economic output slowed to 4.5% in the three months that ended in September, which marked the slowest pace of expansion in six years.

There’s emerging evidence that the economy might be picking up slowly, but growth level around 5% is insufficient for India, Raghuram Rajan told CNBC’s “Street Signs” on Monday.

“We have a lot of young people entering the labor force. We need to provide jobs for them and even if much of the growth is job-oriented, 5% simply doesn’t cut it,” Rajan, who was the governor of the Reserve Bank of India between 2013 and 2016, said.

India’s industrial production grew in November, beating expectations. Along with other indicators like factory activity data, auto sales, and bank credit, some experts said growth likely began to inflect in the final three months of 2019.

Still, in recent quarters, India’s growth did not result in sizeable job creation as the country faced a number of challenges including a troubled financial sector and weakness in corporate earnings and profits that likely weighed on business investment.

“India needs significantly more growth, which means significant reforms, and I think the problem in the last 15 years or so, is the reform momentum has slowed considerably,” Rajan said.

He added that South Asia’s largest economy needs to revive itself to become an attractive destination, particularly for companies that are shifting their supply chains out of China and into countries such as Vietnam.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, reforms, young, bank, significant, growth, needs, revive, employed, job, seekers, india, rajan, rbi, governor, slowed


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Asia’s crude supplies could be disrupted if Iraqi oil facilities are targeted

Investors are worried about possible attacks on oil facilities in Southern Iraq that could affect crude supplies into Asia, an analyst told CNBC on Thursday. “That southern facility is right at the heart of the geopolitical risk world at the moment,” he said referring to oil facilities in Iraq’s southern province of Basra. Basra, which is near the Umm Qasr port, accounts for nearly 85% of Iraq’s crude oil production, according to the Associated Press. The attacks did not destroy major energy inf


Investors are worried about possible attacks on oil facilities in Southern Iraq that could affect crude supplies into Asia, an analyst told CNBC on Thursday.
“That southern facility is right at the heart of the geopolitical risk world at the moment,” he said referring to oil facilities in Iraq’s southern province of Basra.
Basra, which is near the Umm Qasr port, accounts for nearly 85% of Iraq’s crude oil production, according to the Associated Press.
The attacks did not destroy major energy inf
Asia’s crude supplies could be disrupted if Iraqi oil facilities are targeted Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, oil, southern, asias, targeted, attacks, possible, military, iraqi, facilities, disrupted, crude, risk, remains, supplies, iraqs


Asia's crude supplies could be disrupted if Iraqi oil facilities are targeted

Investors are worried about possible attacks on oil facilities in Southern Iraq that could affect crude supplies into Asia, an analyst told CNBC on Thursday.

Iraq is the second-largest oil producer in OPEC, the Organization of the Petroleum Exporting Countries. A disruption to its output level could make it hard for the oil cartel to replace the shortfall, Henning Gloystein, director for global energy and natural resources at political risk consultancy Eurasia Group, said on “Squawk Box.”

“That southern facility is right at the heart of the geopolitical risk world at the moment,” he said referring to oil facilities in Iraq’s southern province of Basra. “This is where the oil market fears a confrontation because if that gets hit, markets will get into trouble, especially in Asia.”

Basra, which is near the Umm Qasr port, accounts for nearly 85% of Iraq’s crude oil production, according to the Associated Press.

Tensions in the Middle East soared after Iran on Wednesday local time launched more than a dozen ballistic missiles against Iraqi military bases housing American troops. It was an act of retaliation in response to the U.S. killing of Iran’s top general, Qasem Soleimani. The attacks did not destroy major energy infrastructure that could have disrupted global crude supply.

Oil prices initially surged more than 4% at news of the missile attacks, but they subsequently dropped almost 5% when U.S. President Donald Trump said Washington would impose sanctions on Tehran instead of another military strike as feared by some investors. But the situation remains volatile and the likelihood of possible strikes on tankers or oil facilities in the region remains.


Company: cnbc, Activity: cnbc, Date: 2020-01-10  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, oil, southern, asias, targeted, attacks, possible, military, iraqi, facilities, disrupted, crude, risk, remains, supplies, iraqs


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