EconomyNext

2 days ago | economynext.com | Shihar Aneez

ECONOMYNEXT – The United States and China have agreed to suspend the 125 percent ‘reciprocal’ tariffs imposed on each other for 90 days, but two taxes remain, according to a joint statement released after talks in Switzerland. A 10 percent tax on each other and a 20 percent tax the US imposed on China claiming it was encouraging fentanyl, an addictive drug, would remain in place.

2 days ago | economynext.com | Shihar Aneez

ECONOMYNEXT – US President Donald Trump said he will halt American pharmaceutical companies from selling drugs at high prices at home and low prices in foreign countries, ending the practice of making American ‘suckers’ solely bear the development costs of new drugs.

4 days ago | economynext.com | Shihar Aneez

ECONOMYNEXT – India has slammed the International Monetary Fund over its latest loan to Pakistan as hostilities broke out following a massacre of Indian civilians by an allegedly Pakistan backed group. Pakistan cleared the first review of the latest IMF program (there have been 25 so far) and approved a fresh one which gives the country access to another 1.4 billion US dollars. India said it abstained from voting at the IMF board review.

5 days ago | economynext.com | Shihar Aneez

ECONOMYNEXT – Sri Lanka-based renewable power producer Vidullanka’s proposed 500 million rupees sukuk issuance has been assigned a final National Long-Term Rating of ‘A+(lka)’, by Fitch Ratings. “We believe the issuer’s ability to satisfy payments due on the proposed sukuk will ultimately depend on the issuer satisfying its secured payment obligations to the trustee under the transaction documents, as described in the prospectus and other supplementary documentation,” Fitch said.

6 days ago | economynext.com | Shihar Aneez

ECONOMYNEXT – A delegation from Yantai city in China’s Shandong Province held a symposium and exchange meeting with Sri Lankan stakeholders to expmain Yantai’s proactive efforts and practical initiatives in promoting international cooperation on zero-carbon islands. Chinese companies such as Dongfang Electronics, Tayho Advanced Materials, and LONGi Green Energy presented their solutions in new energy and green materials tailored for island countries to reduce carbon emission.