International News

Monsanto-Argentina seal GMO pact, end soybean strife

  Bloomberg Monsanto Co. and Argentina announced an agreement for the collection of royalties for genetically modified soybeans, ending years of dispute between the world’s largest seed company and the third-largest grower of the crop. “The state will have full control of seed commercialization in order to ensure private companies like Monsanto will be able to collect royalties payments,” Agriculture ...

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Australia needs stability post Brexit vote, says Turnbull

  Canberra / AP Australia’s prime minister used his official campaign launch on Sunday to warn against a change of government during the economic fallout from Britain’s decision to leave the European Union. Polls project Prime Minister Malcolm Turnbull’s conservative coalition is widely expected to be returned next Saturday for a second three-year term with a reduced majority. Turnbull said his ...

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Myanmar torches $60mn worth of drugs

  Yangon / AFP Myanmar police on Sunday torched drugs with a street value of nearly $60 million as authorities struggle to tackle the scourge of poppy cultivation and shut down pill laboratories in lawless border zones. The impoverished nation remains the world’s second biggest producer of opium from which heroin is made, according to the United Nations. Decades of ...

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Apollo Hospitals signs pact with HESCG to develop hospital in China

  Hyderabad / Tribune News Service Apollo Hospitals group signed an agreement with Chinese infrastructure firm Hainan Ecological Smart City Group (HESCG) to jointly develop an integrated modern healthcare services facility and systems in Hainan province, where a smart city is being developed in China’s largest special economic zone. The collaboration with Apollo Hospitals would begin with the development of ...

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China logistics to delay $400mn IPO on Brexit jitters

  Shanghai / Bloomberg China Logistics Property Holdings Co., the warehouse developer backed by Carlyle Group LP, will delay the launch of its $400 million Hong Kong initial public offering, people with knowledge of the matter said. The Shanghai-based company will postpone the start of the share sale until June 29 due to volatile market conditions after Britain voted to ...

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Delhi Metro uses broken tiles to conserve energy

  New Delhi / Tribune News Service In a unique environment friendly initiative, the Delhi Metro Rail Corporation (DMRC) has decided to use broken tiles to reduce the heat inside Metro stations. Unable to dispose of tiles that are broken at Metro stations and removed every day, engineers working with the DMRC suggested the pieces be placed on the rooftop ...

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Rosneft agrees to sell Siberia stake as Putin boosts China ties

  Bloomberg Rosneft PJSC, the world’s largest publicly traded crude producer, agreed to sell a stake in a key unit to China as Russian President Vladimir Putin seeks to bolster energy ties with Asia. The state-run company committed to negotiating the sale of 20 percent of its Verkhnechonsk unit to Beijing Enterprises Group Co., Rosneft said in a statement. The ...

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London fears Brexit exodus of bankers, investment & jobs

  London / AFP Will Brexit threaten London’s long-booming economy? The British capital fears investors and bankers could flee the city after the shock nationwide vote, threatening its coveted reputation as a global financial hub. Some 60 percent of Londoners voted to stay in the EU in Thursday’s historic referendum, but the rest of the country cast their ballots overwhelmingly to ...

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EU financial-services chief Hill resigns after historic plebiscite

  Bloomberg Jonathan Hill, sent to Brussels by U.K. Prime Minister David Cameron less than two years ago, resigned as the European Union’s financial-services chief in the wake of Britain’s vote to secede from the bloc. “As we move to a new phase, I don’t believe it is right that I should carry on as the British commissioner as though ...

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French, German biz groups urge EU to ‘reunite’ after exit verdict

  Paris / AFP Business groups in France and Germany on Sunday said EU nations should respond to Britain’s decision to quit the bloc by working even more closely together to limit the “turbulence” caused by the Brexit shock. In an joint appeal published in the French Journal du Dimanche, the heads of Germany’s powerful BDI and BDA industry groups and ...

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