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Trump’s endorsement of face masks caused a rally in recovery stocks, Jim Cramer says
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Trump’s endorsement of face masks caused a rally in recovery stocks, Jim Cramer says

President Donald Trump's belated endorsement of face masks sparked a rally in the recovery stocks, CNBC's Jim Cramer said Tuesday. The president's newfound appreciation for mask-wearing takes away the leading voice for the anti-face covering crowd and should tamp down on the culture and political clash that brewed from the controversial topic, the "Mad Money" host said. "If the president of the United States keeps encouraging people to wear masks, rather than discouraging them … that makes it much easier to flatten the curve, because the no-mask contingent listens to him, fears him, cheers him," Cramer said. "With enough mask-wearing, we can beat this thing long before we get a vaccine, although it's still gonna take weeks before we see any progress." With his mind focused on reopening ...
US brands China’s claims in South China Sea as ‘completely unlawful’
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US brands China’s claims in South China Sea as ‘completely unlawful’

WASHINGTON: Secretary of State Mike Pompeo said on Monday (Jul 13) that the United States would treat Beijing's pursuit of resources in the dispute-rife South China Sea as illegal, ramping up support for Southeast Asian nations. It was the latest forceful statement by President Donald Trump's administration to challenge China, which he has increasingly cast as an enemy ahead of November elections. "We are making clear: Beijing's claims to offshore resources across most of the South China Sea are completely unlawful, as is its campaign of bullying to control them," Pompeo said in a statement. "The world will not allow Beijing to treat the South China Sea as its maritime empire." The United States has long rejected Beijing's sweeping claims in the South China Sea, which is both home ...
India puts restrictions to curb sale of ‘Chinese’ products to government agencies
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India puts restrictions to curb sale of ‘Chinese’ products to government agencies

NEW DELHI: Amid growing calls for a boycott of Chinese goods after a clash on the border in which 20 Indian soldiers were killed, India's government instructed sellers to declare the country of origin for goods and services purchased via a state-run online portal. The government announced the change in requirements for users of its Government e-Marketplace (GeM) portal in a statement on Tuesday (Jun 23). The statement did not single out China, but an official source told Reuters that the main objective was to identify items coming from China. Separately, the portal will provide a "Make in India" filter so that the government or its agencies could choose to buy only those products that meet the minimum 50 per cent local content criteria, the statement said. According to officials the...
Hong Kong academics fear for freedom under new security law
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Hong Kong academics fear for freedom under new security law

China’s new security law has sent a chill through Hong Kong’s schools and universities, with many teachers fearful the city’s reputation for academic freedom and excellence is now at risk. Just a week after the sweeping legislation was imposed on the territory, staff at some institutions have already been warned by their administrators to be careful how they teach. “Remain neutral in your teaching and be mindful of the language you use,” read one email to staff of HKU SPACE, a college attached to the prestigious University of Hong Kong (HKU). “Any behavior in eliciting further discussion on sensitive issues MUST be avoided,” the email from the program director of the humanities and law faculty said. It ended with a warning of “zero-tolerance against politics or personal political views...
Hong Kong leader Carrie Lam says COVID-19 spreading ‘out of control’, tightens restrictions
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Hong Kong leader Carrie Lam says COVID-19 spreading ‘out of control’, tightens restrictions

HONG KONG: Hong Kong's leader said Sunday (Jul 19) that COVID-19 was spreading out of control in the city as she announced a record daily high of more than 100 cases and ordered new social distancing measures. The finance hub was one of the first places to be struck by the virus when it emerged from central China. But the city had impressive success in tackling the disease, all but ending local transmissions by late June. However, in the last two weeks, cases have begun to spike once more and doctors fear it is spreading undetected in the densely packed territory of 7.5 million people. On Sunday, chief executive Carrie Lam said more than 500 infections had been confirmed in the last fortnight, bringing the city's total tally to 1,788 cases with 12 fatalities. More than 100 wer...
Dubai hotels ready to welcome foreign visitors as emirate reopens
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Dubai hotels ready to welcome foreign visitors as emirate reopens

DUBAI: In Dubai's Atlantis resort, at the head of a palm tree-shaped island, workers in face masks clean cushions, sofas and king-size beds in luxury suites that have largely been vacant since the coronavirus pandemic. The resort and seven other hotels in the regional tourism hub contacted by Reuters are seeing business pick up as Dubai reopened to foreign visitors on Tuesday, but do not expect a significant increase before the fourth quarter of 2020. "Bookings have started to increase," Tim Kelly, managing director at Atlantis Dubai, said, adding he expected a "solid" fourth quarter for the resort, known for its giant aquarium and water slides. The resort shut in March as the United Arab Emirates imposed a coronavirus lockdown and reopened in mid-May when restrictions started easin...
FAA starts Boeing 737 Max test flights, a milestone in getting the planes back in service after crashes
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FAA starts Boeing 737 Max test flights, a milestone in getting the planes back in service after crashes

The Federal Aviation Administration began recertification flights of the Boeing 737 Max on Monday, a key step toward permitting the planes to return to service after two fatal crashes more than a year ago. The 737 Max, Boeing's bestseller, has been grounded worldwide since March 2019 after the crashes — one in Indonesia and another in Ethiopia — within five months of one another. All 346 people on the flights were killed in the crashes. Boeing has since changed a flight-control system that was implicated in both crashes and has made other tweaks. Additional scrutiny of the aircraft contributed to repeated delays in the recertification process. Boeing shares added to earlier gains after the first Max certification flight took off, adding more than 14% to end the day at $194.49, leading th...
Huawei to be removed from UK 5G networks by 2027
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Huawei to be removed from UK 5G networks by 2027

Huawei will be completely removed from the UK’s 5G networks by the end of 2027, the government said on July 14 following new advice produced by the National Cyber Security Centre (NCSC) on the impact of US sanctions against the telecommunications vendor.As per the decision, the UK's mobile providers are being banned from buying new Huawei 5G equipment after 31 December, and they must also remove all the Chinese firm's 5G kit from their networks by 2027, Digital Secretary Oliver Dowden told the House of Commons.It follows sanctions imposed by Washington, which claims the firm poses a national security threat.“By the time of the next election, we will have implemented in law an irreversible path for the complete removal of Huawei equipment from our 5G networks,” Dowden said adding that the s...
After India, Australia may ban TikTok
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After India, Australia may ban TikTok

Following India’s ban on 59 Chinese apps, including highly popular TikTok application, many parliamentarians in Australia are proposing a ban on TikTok, citing concerns that the Chinese government might be using this app to collect data from users.Recently, Senator Jim Molan of the Liberal Party stated that the Chinese government was misusing TikTok. Another MP has revealed plans to put TikTok before the Foreign Interference through Social Media senate inquiry over fears that the app developers are sharing user data with the Chinese government.He also says this is an effort by the Chinese Communist Party to collect data of users in other countries. “It might be dressed differently but it's the same beast.”TikTok is owned by Chinese tech company Bytedance and has repeatedly been criticized ...
After Europe, US bans Pakistan Airline’s entry over safety concerns, suspicious licenses
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After Europe, US bans Pakistan Airline’s entry over safety concerns, suspicious licenses

Following Pakistan’s revelation of its pilots having fake licenses, the US department of transportation suspended Pakistan International Airline’s (PIA) special permit, expressing concerns over the flag carrier’s safety measures and pilots’ “suspicious licenses”.“The PIA will not be able to operate its flights to the United States,” the US authority said in a statement adding that a ban has been placed on “all types of flights” operated by PIA.PIA’s spokesperson confirmed the ban and said that the national carrier had received an email in this regard.“We will address America’s concerns,” he said, adding that hopefully, the matter of pilots’ licenses will be resolved through ongoing corrective measures within the airline.The move comes a few days after the European Union Aviation Safety Age...