Rahul Gandhi stresses the need for a united opposition for 2019 elections

Congress President Rahul Gandhi on Thursday said there were "valuable lessons" to be learnt from the results of the bypolls across the country, in a reference to the need for a united opposition for the 2019 general elections.

"Congratulations to all the winners in the by polls, across India. Valuable lessons to be learnt from the victories and defeats for all parties," tweeted Gandhi.

"I want to thank all the workers and leaders of the Congress party for their hard work and dedication in these elections. God bless you all," he added.

A united opposition got a major boost on Thursday when it delivered a huge blow to the BJP, defeating it in the Kairana Lok Sabha by-election in Uttar Pradesh and Bhandara-Gondiya in Maharashtra while the saffron party managed to retain the Palghar parliamentary seat and win only one out of the 10 Assembly bypolls in 10 states.

Oil producers to push reset button? Russia hints at effort to rein in crude

A return to the oil production levels that were in place in October 2016, the baseline for the current deal to cut output, is one of the options for easing curbs, Russia's energy minister said on Saturday.

Sources said this week that Saudi Arabia and Russia were discussing raising OPEC and non-OPEC oil production to ease 17 months of strict supply curbs amid concerns that a price rally has gone too far.

"When we extended the agreement until the end of 2018, we spoke about such possibilities (of returning to the October 2016 level)," Novak told reporters.

"But a decision will be made in June," he added, referring to meetings of OPEC and non-OPEC countries in Vienna on June 22-23.

The existing deal came into force on 1 January 2017 and envisaged global oil producers reducing their combined output by 1.8 million barrels per day (bpd) to cut bloated stockpiles and prop up oil prices.

Russia's oil output reached a 30-year high of 11.247 million bpd in October 2016 and it pledged to cut it by 300,000 bpd to 10.947 mln.

Cuba elects its first non-Castro president in 60 years: Miguel Diaz-Canel

Cuba is poised for the end of an era today as President Raul Castro steps down, formally handing power to his long-time deputy Miguel Diaz-Canel -- and thereby ending his family's six-decade grip on the island.

The silver-haired Diaz-Canel, 57 -- a top Communist Party figure who has served as first vice president since 2013 -- will become the island's first leader born after the 1959 revolution and the first in 60 years who is not named Castro.

Between them, father of the nation Fidel and his younger brother Raul made the Caribbean island a key player in the Cold War and helped keep communism afloat despite the collapse of the Soviet Union.

Raul, now 86, has been in power since 2006, when he took over after illness sidelined Fidel, who seized power in the revolution.

Diaz-Canel, who has spent years climbing the party ranks, was named the sole candidate for the presidency yesterday.

It took 8 yrs, Trump's tariff war for China, Japan to hold economic summit

China and Japan have resumed high-level economic talks after a hiatus of nearly eight years in a sign of improving ties in their often-frosty relationship.

The Japan-China High-Level Economic Dialogue was being held Monday in Tokyo for the first time since August 2010.

The Chinese side was led by Foreign Minister Wang Yi, the first visit by a Chinese foreign minister for bilateral talks since 2009.

Asia's two largest economies have reason to cooperate in the face of President Donald Trump's moves to impose tariffs on imports from their countries and his demands that they open their markets more to American exports.

Japanese Prime Minister Shinzo Abe is headed to the United States this week to meet Trump.

De-escalating trade war: Xi promises lower tariffs, opens economy further

Chinese President Xi Jinping on Tuesday promised to open the country's economy further and lower import tariffs on products including cars, in a speech that comes amid rising trade tensions between China and the United States.

Xi also said China would raise the foreign ownership limit in the automobile sector "as soon as possible" and push previously announced measures to open the financial sector.

"This year, we will considerably reduce auto import tariffs, and at the same time reduce import tariffs on some other products," Xi said at the Chinese Boao Forum for Asia in Hainan province.

The comments sent U.S. stock futures, the dollar and Asian shares higher.

They come amid rising trade tensions between China and the United States following a week of escalating tariff threats sparked by U.S. frustration with China's trade and intellectual property policies.

US govt records $215 bn budget deficit in Feb as revenues fall, outlays up

The US government had a $215 billion budget shortfall in February as revenues into the government's coffers fell and outlays increased, the Treasury Department said on Monday.

That compared with a budget deficit of $192 billion in the same month last year, according to Treasury's monthly budget statement.

Economists polled by Reuters had forecast the Treasury recording a $216 billion deficit last month.

The deficit for February was not affected by timing-related transactions.

The deficit for the fiscal year, which began in October, was $391 billion, compared to a deficit of $351 billion in the same period of fiscal 2017.

When accounting for calendar adjustments, the deficit for the fiscal year to date was $448 billion, compared to an adjusted total of $390 billion for the prior fiscal year.

Xi Jinping can now be President for life: China's parliament removes limits

In a historic decision, China on Sunday removed the two-term limit on presidency, clearing the decks for the all-powerful President Xi Jinping to rule the world's most populous country for life.

Scrapping the 35-year old rule brought by "paramount" leader Deng Xiaoping to prevent the country from returning to one-man rule like that of Mao Zedong, China's largely ceremonial parliament amended the Constitution by lifting the two-term limit.

With term limits gone, Xi can rule China until he retires, dies or is ousted.

He is already dubbed as the country's next Mao, founder of modern China who ruled from 1949 until his death in 1976.

US should exclude EU from tariffs to defuse trade dispute: Angela Merkel

German Chancellor Angela Merkel today voiced concern over US President Donald Trump's decision to impose hefty tariffs on aluminium and steel imports, and called for talks to defuse the escalating row.
"We see with concern the tariff hikes for specific products," the leader of Europe's biggest economy said, adding that Germany backs the EU in "seeking dialogue with the United States, but also with countries that could be affected, like China."
She stressed that "no one can win in such a race to the bottom", adding that "it would be best if we could be exempted" from the tariffs.

Trade war fear, Italian election buffet world shares for fifth straight day

World shares slipped for the fifth straight day on Monday and emerging markets weakened sharply, hit by the prospect of a global trade war and political instability in Europe after Italy's inconclusive weekend election.

While most markets stabilised after sharp losses early in the day, assets considered low-risk - including gold, the yen and German bonds - remained in demand, with yields on the latter at the lowest in a month.

Recent events have again put equity markets, barely recovered from their February selloff, under a cloud.

The European Union, Canada and China are among those threatening to retaliate with tit-for-tat duties if US President Donald Trump proceeds with hefty tariffs on steel and aluminium imports.

Trump trade war: China's most powerful weapon may cause worldwide turmoil

As tensions escalate between the US and China, one crop is emerging as the most powerful weapon in a potential trade war: the soybean.China is the biggest buyer of American soybeans, picking up about a third of the entire US crop, which it uses largely to feed 400 million or so pigs. President Xi Jinping’s administration is studying the impact of restricting soybean imports in retaliation for US tariffs on washing machines and solar panels, people familiar with the situation told Bloomberg last week.Any China soybean curbs would directly hit farmers in the Midwestern US states that President Donald Trump needs to win re-election in 2020. Yet they would also pose a big risk for Xi: His nation is the world’s largest pork producer and consumer, and higher costs for pig farmers could increase prices of meat for his nation’s 1.3 billion citizens.

The Republican's guide to Presidential etiquette

Republicans used to care a lot about how a president comports himself, and whether he acts at all times with the dignity his station demands.

“Is President Obama Disrespecting the Oval Office?” Fox News asked in 2010, with a link to images of Mr. Obama and his aides tossing a football, or eating apples just inches from the Resolute desk.

“Wear a suit coat and tie,” said Andrew Card Jr., President George W. Bush’s former chief of staff, in reaction to pictures of Mr. Obama in shirtsleeves in 2009.

“I do expect him to send the message that people who are going to be in the Oval Office should treat the office with the respect that it has earned over history,” Mr. Card said.

But hey, that was then! In 2017, there’s a whole new bar for tolerable conduct by the commander in chief. Our original guide cataloged several dozen examples. Almost five months later, it’s clear that an update is necessary. This expanded list is meant to ensure that Paul Ryan, Mitch McConnell and other congressional Republicans never forget what they now condone in a president.
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Meet Mitch McConnell, the president's man in the Senate

Being Senate majority leader isn’t easy. And Mitch McConnell is finding out that having unified government could make it harder still.

As my research shows, U.S. Senate majority leaders represent several constituencies that push and pull in multiple – and usually conflicting – directions.

Balancing constraints

First, the leader is a senator responsible for representing the interests of his state – in McConnell’s case, Kentucky.

Second, like all majority leaders, McConnell is the leader of his party in the Senate, with an obligation to get more Republicans elected to office and to push a legislative agenda that burnishes the party label.

Third, as leader of the Senate, his duty is to sustain the institutional health of that chamber in its function as a counterweight to the whims of the House of Representatives, the ambitions of the executive branch and even the rulings of the judiciary.

Balancing the demands of the office’s various constituencies is sometimes further complicated by another demand on the Senate majority leader – the president, who in times of unified government becomes a fourth constituency to which the leader must answer.

Of course, that’s the position McConnell finds himself in with Donald Trump.

To understand why McConnell must answer to the president, it helps to know some history.
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We could file suit against Trump at WTO over border tax: Germany

Germany could file a suit against the United States at the World Trade Organization over President Donald Trump's proposed border tax, the economy minister said on Friday ahead of a meeting between Chancellor Angela Merkel and Trump later in the day.

Trump has warned that the United States will impose a border tax of 35 percent on cars that German carmaker BMW plans to build at a new plant in Mexico and export to the U.S. market.

Asked how Germany would react to the proposed tax, Economy Minister Brigitte Zypries told Deutschlandfunk radio it was very difficult because of the complexities of such a tax system.

"The other option is that we file a suit against him at the WTO - there are procedures laid out there because in the WTO agreements it is clearly laid out that you're not allowed to take more than 2.5 percent taxes on imports of cars," Zypries said.

Later on Friday Trump and Merkel are due to hold their first meeting since the new U.S. president took office in January. Merkel is likely to press Trump for assurances of support for a strong European Union and a commitment to fight climate change while he is expected to seek her support for his demand that NATO nations pay more for their defense needs.

Germany's 50 billion euro trade surplus with the United States has been a source of tension between Washington and Berlin.

"We know ourselves that that's a problem and we're working on it," Zypries said.

"Thankfully we just heard today that wage rises have been agreed again so that means domestic demand can increase again and we want to address tax incentives for research ... so we're on a good path," she added.

Around 72,000 steel workers in northwestern Germany will get 2.3 percent more pay from April and then a further wage increase of 1.7 percent from May 1, 2018 employers' group Arbeitgeberverband Stahl said on Friday.

"The Americans need our machines and our plants ... and the other point is that we only have an export surplus in the machines and plants sector; in the service sector it's the other way round," due to big internet companies in the United States, Zypries said. (READ MORE)

Prez Pranab Mukherjee okays change in rules for rail budget merger

Latest News - President Pranab Mukherjee has approved changes in government rules to allow merger of rail budget with the central budget.

The Department of Economic Affairs has been entrusted with the work relating to preparation of central budget including rail budget, as per a recent order issued by Cabinet Secretariat.

Earlier, the department was looking after the preparation of budget other than the railway.

The President has given nod to amend Government of India (Allocation of Business) Rules, 1961 in this regard and the department will now (Read More)