Lebanon economic reforms ‘not at expected level’, says World Bank

BEIRUT Lebanon has not done enough to enact economic reforms, its Finance Ministry cited a World Bank official as saying on Friday, pointing to the impending challenge of bringing its massive debt under control. “These reforms, despite having started, do not rise to the expected level and this is what we have said with all […]

India’s trade ministry proposes delaying retaliatory tariffs on US goods

New Delhi: India’s trade ministry has proposed that the government delays by a month the imposition of retaliatory tariffs on some US goods that were due to go into effect from April 1, a trade ministry spokeswoman told Reuters on Friday. Trade friction between India and the United States escalated after President Donald Trump announced […]

Turkey central bank props up forex reserves

ISTANBUL: Turkey’s central bank Thursday sought to reassure investors over its foreign currency reserves after the sharpest drop in the local lira since a spat with the United States triggered a currency crisis last year. The lira slid nearly 6 per cent last week, prompting President Recep Tayyip Erdogan to call for a crackdown on […]

Japan’s Honda, Hino join SoftBank-Toyota mobility venture

TOKYO: Japanese automakers Honda and Hino are joining a partnership between SoftBank and Toyota for mobility service innovation such as self-driving cars. Japanese technology company SoftBank Corp. and Toyota Motor Corp., the nation’s top automaker, announced late last year a joint venture for mobility services, in what they called a “united Japan” effort to face […]