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US government accuses Google of collaboration with China over Huawei ties

US lawmakers have questioned Google’s “strategic partnership” with Chinese major smartphone producer Huawei saying it “could pose a serious risk to US national security” and American consumers. Huawei, which is the world’s third-largest smartphone maker by market share, is running the Google-owned Android operating system on its devices. In January, Google and Huawei signed a partnership to work on a ...

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OPEC+ eyes boosting crude output by 1mn barrels

An OPEC+ ministerial committee is recommending participants to boost daily crude production by 1 million barrels. The Joint OPEC/Non-OPEC Ministerial Monitoring Committee (JMMC), which includes six oil-producing nations, will recommend an increase of crude production by the participants of a 2016 deal to cap output, Russian Energy Minister Aleksandr Novak told the media. The decision is set to be made ...

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Russia gets rid of US Treasury securities and buys gold

US sanctions have forced Russia to look at ways of securing its foreign reserves. In recent years, Moscow has increased purchases of physical gold and dramatically reduced its share of US debt bonds. The political standoff started in 2014, shortly after the conflict in Ukraine and the referendum in Crimea in favor of joining Russia. Several rounds of US sanctions ...

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Crimea's lifeline to Syria: Damascus gets grain supplies from Russia’s Black Sea peninsula

Russia has begun deliveries of wheat from Crimea to Syria. The move solves the dual problems of grain overproduction in Crimea and Syria’s desperate need for bread. Read more The shipments are coming from the Russian port of Sevastopol to the Syrian port of Tartus, where Russia has a naval base. Sevastopol officials said this month that they plan to ...

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Bavaria rejects Angela Merkel's plan of paying out more money for eurozone

Bavarian Prime Minister Markus Soeder says he does not want German taxpayers to foot the bill for troubled European economies. He suggests the EU should solve the debt crisis first instead. Read more The move takes aim at Chancellor Angela Merkel’s agreement with France this week, as the German leader seeks to create a budget for the eurozone to strengthen ...

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Tit-for-tat: World responds to Trump's tariffs with levies on US goods

The trade war that captured the world over recent months has deepened with more countries responding to US tariffs, while others are pledging to toughen already introduced retaliatory measures. The Chinese commerce ministry said the country is “fully prepared” to hit back against any protective steps Washington may potentially take. The response comes as US President Donald Trump threatened Beijing ...

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Russia prepares for production of iconic Soviet-era megaplane

Ulyanovsk-based plane maker Aviastar-SP has announced a competition to evaluate its capability to resume production of the An-124 ‘Ruslan’ heavy transport aircraft. Read more Earlier this month, Russia said it will resume the production of the Antonov An-124 jet, which is still one of the world’s heaviest cargo airplanes. The Antonov Design Bureau was established in 1946 in the Russian ...

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China can hurt America in trade war six ways from Sunday

The threat of a full-scale trade war between the US and China has dominated the news in recent weeks. The countries have exchanged import tariffs on each other’s goods, and are threatening further protective steps. After numerous threats to tax Chinese imports, US President Donald Trump fired the first shot by approving $ 50 billion in tariffs that will come ...

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Small Asian nation dumps dollar & yuan for gold amid growing global trade hostilities

China’s neighbor Kyrgyzstan has been piling up gold reserves as a hedge against a possible trade war between Beijing and Washington. Read more The country is seeking to boost the share of gold in its $ 2-billion international reserves to 50 percent from its current 16 percent. “The rules of the game are changing,” Kyrgyz Central Bank Governor Tolkunbek Abdygulov ...

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South Korea wants railroad link to Russia through North Korea

Seoul, Moscow and Pyongyang can implement several major trilateral infrastructure and energy projects if stability is reached on the Korean peninsula, according to South Korean President Moon Jae-in. Read more One such project could be a railway that will be able deliver goods from Russia to South Korea through North Korea. “Once the Trans-Korean Main Line is built, it may ...

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