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News In Brief

Friday, June 07, 2019

Taiwan's request for US tanks and missiles sparks China anger
Taiwan yesterday confirmed it is hoping to buy state-of-the-art tanks and portable missiles from the United States in a proposed deal that drew an angry rebuke from China. Taipei's defence ministry has formally asked for 108 M1A2 Abrams main battle tanks, more than 1,500 Javelin and TOW anti-tank missiles, and 250 shoulder-fired Stinger anti-aircraft missiles, it said in a statement.

Egypt kills 14 suspected militants in raid
Egyptian security forces have killed 14 suspected militants during a raid carried out in the restive Sinai Peninsula in response to a deadly checkpoint attack, the authorities said. Wednesday's attack, claimed by the Islamic State group, left dead eight policemen southwest of El-Arish, capital of North Sinai, and five militants were killed in exchanges of fire that ensued.

Pope to receive Putin at Vatican
Vatican City:
Pope Francis will receive Russian President Vladimir Putin for an audience next month, the Vatican said yesterday.     "The Holy Father will receive the president of the Russian Federation... This upcoming July 4," interim spokesman Alessandro Gisotti said in a statement. The meeting will be the third between the two men, with Francis having received Putin most recently in 2015, when the pope urged all parties to the conflict in Ukraine to make a "sincere effort" for peace.

Trump says will decide on new tariffs on China after G20
Caen (France):
US President Donald Trump said that he would wait until after a G20 meeting in Japan at the end of the month before deciding whether to impose new tariffs on China. "I will make that decision over the next two weeks, probably right after the G20," Trump told reporters in northern France.

China says list of 'unreliable' foreign firms coming soon
China's Commerce Ministry will release a list of "unreliable" foreign companies in the near future, a spokesman said yesterday, without giving a specific date. The decision to create the list, announced last week, is widely seen as a response to a US decision to put Huawei Technologies on a blacklist for alleged theft of intellectual property and evasion of Iran sanctions.

Swiss regulators fine banks over forex rigging 'cartels'
Swiss competition authorities said yesterday they had fined five large banks some USD 90 million for collusion in foreign exchange trading, following steep fines recently imposed by Brussels. Barclays, Citigroup, JPMorgan, Japan's MUFG Bank and Royal Bank of Scotland (RBS) were hit with fines totalling around 90 million Swiss francs (USD 90.5 million, 80.6 million euros) after determining that the banks' traders had colluded to fix exchange rates using chat rooms, the Swiss Competition Commission (COMCO) said.

GE lost billions by 'misjudging' renewables: report
Investors in General Electric, once one of the world's most valuable companies, lost tens of billions of dollars after the Paris climate deal as it failed to adapt to the pace of the green energy transition, new analysis showed yesterday. A report by the Institute for Energy Economics and Financial Analysis (IEEFA) said GE had lost a "simply staggering" USD 193 billion (172 billion euros) in just three years to 2018 -- amounting to almost three quarters of its market capitalisation.

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