Trump’s administration

ECB: Protectionism may raise trade deficits

Frankfurt - Arab Today

Protectionist trade policies may increase, rather than reduce, a country’s trade deficit, the European Central Bank (ECB) said in a study on Wednesday, just days after finance chiefs of the world’s top 20 economies dropped their pledge for open trade. Seeking to reduce a large trade deficit, US President Donald Trump’s administration has proposed a series of protectionist measures, suchRead more

UN rights expert raps Israel for anti-Palestine policy

Geneva - Arab Today

A UN rights expert issued a blistering criticism of Israel’s policies on Monday, deepening a row over alleged anti-Israel bias within the UN following US pressure. In a report, Michael Lynk, UN special rapporteur on the occupied Palestinian territories, charged Israel with “the subjugation of (Palestinians’) humanity” and intensifying a crackdown on human rights campaigners. Lynk made the claims inRead more

G-20 to jointly fight banking sector hacking

Baden-Baden - Arab Today

Finance ministers from the world’s biggest economies were battling Saturday to halt a bid by US President Donald Trump’s administration to roll back hard-fought pledges on trade and climate. Representatives from G-20 nations have gathered in the picturesque western German spa town of Baden-Baden since Friday for a meeting clouded by concerns over Trump’s “America First” policy and skepticism towardRead more

Trump’s envoy holds his first meeting with President Abbas

Ramallah - Arab Today

US President Donald Trump’s administration waded into the decades-old Israeli-Palestinian conflict on Tuesday as one of his top advisers held his first meeting with Palestinian President Mahmud Abbas. After five hours of talks with Israeli Prime Minister Benjamin Netanyahu in Jerusalem on Monday night, Jason Greenblatt met Abbas in Ramallah in the occupied West Bank. Details of their talks wereRead more

China’s FX reserves rebound above $3tr

Beijing - Arab Today

China’s foreign exchange reserves unexpectedly rose for the first time in 8 months in February, rebounding above $3 trillion as a regulatory crackdown and weakness in the dollar helped staunch capital outflows. Reserves rose $6.92 billion during February to total $3.005 trillion, their first increase since June 2016, compared with a drop of $12.3 billion in January, when reserves fellRead more

US suspends Obama airline transparency review

Washington - Arab Today

US President Donald Trump’s administration said on Friday it is suspending action on an Obama administration decision in October to probe a long-time practice by some airlines of preventing various travel websites from showing their fares and whether to require transparency in airline baggage and other fees. The US Transportation Department said in a notice Friday it is suspending aRead more

Gold hits 3.5-month high

London - Arab Today

Gold hit its highest in 3-1/2 months on Friday as the dollar hit a one-week low after the new US finance chief poured cold water on the “Trumpflation trade” that had boosted the greenback this year. Treasury Secretary Steven Mnuchin said on Thursday that any steps US President Donald Trump’s administration takes on policy would probably have only limited impactRead more

Mugabe praises Trump’s ‘America First’ policy

Harare - Arab Today

US President Donald Trump’s “America First” policy has an admirer in Zimbabwe’s longtime president, who says the policy resonates with his own thinking. President Robert Mugabe, who turned 93 on Tuesday and is the world’s oldest head of state, spoke in a birthday interview with state-run media. “When it comes to Donald Trump, on the one hand talking of AmericanRead more

Iran world’s biggest state sponsor of suicide

Dubai - Arab Today

US Defense Secretary James Mattis has called Iran the world’s “biggest state sponsor of terrorism,” amid rising tensions between the two nations. His comments come a day after the US imposed new sanctions against Iran in response to a ballistic missile test. But Mattis said he did not see any need to boost US troop numbers in the Middle EastRead more