Donald Trump warns world against business with Iran as sanctions return

Agencies
August 8, 2018

Tehran, Aug 8: US President Donald Trump warned the world Tuesday against doing business with Iran as Washington reimposed "the most biting sanctions ever" on the Islamic republic, triggering a mix of anger, fear and defiance in Tehran.

Trump's May withdrawal from a landmark 2015 nuclear deal with Tehran had spooked investors and triggered a run on the Iranian rial long before the punishing sanctions went back into force. 

The newly reimposed sanctions, which target access to US banknotes and key industries such as cars and carpets, were unlikely to cause immediate economic turmoil.

Iran's markets were actually relatively buoyant, with the rial strengthening by 20 percent since Sunday after the government relaxed foreign exchange rules and allowed unlimited, tax-free gold and currency imports. 

But the second tranche of sanctions, which kicks in on November 5 and targets Iran's vital oil sector, could be far more damaging -- even if several key customers such as China, India and Turkey have refused to significantly cut their purchases.

"The Iran sanctions have officially been cast. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level," Trump wrote on Twitter.

"Anyone doing business with Iran will NOT be doing business with the United States. I am asking for WORLD PEACE, nothing less."

European governments -- who signed the Iran nuclear deal along with Washington -- are infuriated by Trump's strategy that has prompted many of their large firms to leave Iran for fear of US penalties. 

Within hours of the sanctions taking effect, German carmaker Daimler said it had "suspended our already limited activities in Iran in accordance with the applicable sanctions."

Trump said Monday that he was open to new talks to reach a "more comprehensive deal" with Iran.

"We want to see a much broader retreat by Iran from their support for international terrorism, their belligerent military activity in the Middle East and their ballistic missile, nuclear-related programs," National Security Advisor John Bolton told Fox News.

"There's a lot going on here that Iran needs to be held accountable for."

But Iranian President Hassan Rouhani has dismissed the idea of talks while sanctions are in effect, and accused America of waging "psychological warfare."

In Tehran, residents were on edge.

"I feel like my life is being destroyed," said one construction worker on the streets of the capital. "I can't afford to buy food, pay the rent."

The return of US sanctions left some of Washington's partners unimpressed. British Foreign Office Minister Alastair Burt said that the "Americans have really not got this right."

The nuclear deal was important "not only to the region's security but the world's security," he told the BBC.

Russia's foreign ministry said it was "deeply disappointed" by the return of sanctions, adding that it would do "everything necessary" to save the 2015 nuclear deal.

Iranian Foreign Minister Mohammad Javad Zarif told reporters that the global reaction to Trump's move showed that the US was diplomatically isolated.

Most Iranians see US hostility as a basic fact of life, so their frustration is largely directed at their own leaders for not handling the situation better.

"Prices are rising again, but the reason is government corruption, not US sanctions," said Ali, a 35-year-old decorator in Tehran.

Long-running discontent over high prices, unemployment, water shortages and the lack of political reform has sparked numerous protests over the past week, though the verifiable information is scarce due to heavy reporting restrictions.

Many hope and believe that Iran's leaders will "drink the poison cup" and negotiate with the US eventually.

There have been rumours that Trump and Rouhani could meet in New York in September on the sidelines of the UN General Assembly -- though Rouhani reportedly rejected US overtures for a meeting at last year's event.

Iran's regional rivals Israel and Saudi Arabia have welcomed the tough new US policy. Israeli Prime Minister Benjamin Netanyahu hailed the renewed sanctions as "an important moment for Israel, for the US, for the region, for the whole world."

Iran's currency has lost around half its value since Trump announced the US would withdraw from the nuclear pact but has surged since Sunday, following the arrest of the central bank's currency chief and new plans being announced.

The new rules mean foreign exchange bureaus will reopen after an attempt to fix the value of the rial in April backfired spectacularly, with corrupt traders making a fortune out of a mushrooming black market.

Ali Vaez, Iran project director for the International Crisis Group, told AFP that the sanctions would inflict "significant harm" on the Iranian economy.

"But this is not the first time that the Iranian leadership is dealing with sanctions," Vaez said.

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News Network
February 28,2020

Washington, Feb 28: US intelligence agencies are monitoring the global spread of coronavirus and the ability of governments to respond, sources familiar with the matter said on Thursday, warning that there were concerns about how India would cope with a widespread outbreak.

While there are only a few known cases in India, one source said the country's available countermeasures and the potential for the virus to spread given India's dense population was a focus of serious concern.

US intelligence agencies are also focusing on Iran, where the country's deputy health minister has fallen ill during a worsening outbreak.

US Secretary of State Mike Pompeo said on Tuesday the United States was "deeply concerned" Tehran may have covered up details about the spread of coronavirus. A US government source said Iran's response was considered ineffective because the government only has minimal capabilities to respond to the outbreak.

Another source said US agencies were also concerned about the weak ability of governments in some developing countries to respond to an outbreak.

The US House of Representatives Intelligence Committee has received a briefing on the virus from the spy agencies. "The Committee has received a briefing from the IC (intelligence community) on coronavirus, and continues to receive updates on the outbreak on a daily basis," an official of the House Intelligence Committee told Reuters.

"Addressing the threat has both national security and economic dimensions, requiring a concerted government-wide effort and the IC is playing an important role in monitoring the spread of the outbreak, and the worldwide response," the official added.

A source familiar with the activities of the Senate Intelligence Committee, led by Republican Senator Richard Burr and Democratic Senator Mark Warner, said the panel was receiving daily updates. The role of US intelligence agencies in responding to the coronavirus epidemic at this point principally involves monitoring the spread of the illness around the world and assessing the responses of governments.

They are working closely with health agencies, such as the US Center for Disease Control, in sharing information they collect and targeting further intelligence gathering.

One source said US agencies would use a wide range of intelligence tools, ranging from undercover informants to electronic eavesdropping tools, to track the virus' impact.

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News Network
April 30,2020

London, Apr 30: The coronavirus is roiling global job markets, but the picture is not all gloomy. Finance, technology and consumer goods firms are hiring tens of thousands in the United States and other countries, according to data from Microsoft Corp's professional networking site LinkedIn.

Across seven countries in North America, Europe and Asia, healthcare providers are among the busiest recruiters given the ongoing battle against the novel coronavirus, which has killed over 200,000 people and infected over 3 million people worldwide, LinkedIn said. But lifestyle changes during lockdown are also driving demand for financial consultants, factory workers, animators and game designers, and delivery workers.

Overall, the hiring rate has plunged in the first quarter from the year-ago period, and in late April remains lower than a year ago across most countries surveyed by the platform. But the data offer a glimmer of hope with a gradual uptick in China, where the coronavirus emerged last year and which leads the world in surfacing from a months-long lockdown.

LinkedIn, with over 690 million users worldwide, counts new hires when people add a new employer to their profile. The rate is the number of new hires divided by the total number of LinkedIn members in a country.

The figures, tracked since mid-February, are not corroborated by official jobs data and do not represent the actual number of jobs in an economy. Government figures are usually released with a time-lag of several weeks.

"We are confident that our data is directionally correct in that there has been a huge decline in hiring in the U.S. and abroad," Guy Berger, principal economist at LinkedIn in California, told Reuters.

Hiring in China plummeted 50% during the height of its coronavirus crisis in mid-February from 12 months earlier. Since restrictions were eased in early April, the hiring rate has inched up, and for the week ending April 24 was 3% lower than the same period in 2019.

Hiring in the United States, United Kingdom, France and Italy - which lead the world in coronavirus-related deaths - remains hugely depressed, but is falling less rapidly than a few weeks ago as the countries pass the peak of their epidemics.

Retailers including Walmart Inc, Amazon.com Inc and Instacart have said they would hire a total of over 700,000 workers to meet a surge in demand for groceries and household essentials during the coronavirus outbreak.

Coronavirus state-wise India update: Total number of confirmed cases, deaths on April 30

Consumer goods manufacturers such as Unilever, whose products include soap and shampoo, confirmed on Wednesday it was hiring to fill 300 jobs globally, but declined to elaborate.

Nestle told Reuters it was looking to fill 5,000 full-time U.S. positions in "a variety of levels across corporate and frontline."

Fidelity Investments, a Boston-based financial services firm, said it had accelerated recruitment because of the pandemic and was looking to fill at least 2,000 full-time roles for financial consultants, software engineers and customer service staff in the United States in 2020.

Companies hiring in the United States and other countries also include Apple Inc; ByteDance, the Chinese parent of video-sharing social network TikTok; Takeda Pharmaceutical Co Ltd; and aerospace and defence company Lockheed Martin Corp. These companies did not immediately respond to requests for comment.

DIRE WARNINGS

The International Labour Organization warned on Wednesday that 1.6 billion workers, or nearly half of the global workforce, especially in the informal economy, could lose their livelihoods.

Record numbers of people have applied for U.S. jobless benefits since mid-March, and the unemployment rate is expected to soar to 16%, White House economic adviser Kevin Hasset said this week, from a 50-year low of 3.5% before the pandemic hit.

Both Italy and France, in lockdown for nearly two months, have seen hiring rates drop by around 70% from a year ago, according to LinkedIn.

Since China is ahead of other countries on the pandemic timeline, improvements there could suggest the same is in store elsewhere, Berger said. Several American states and European countries have begun allowing some non-essential businesses and schools to reopen in the hopes of restarting the economy and allowing a gradual return to normal life.

"It's still slightly early to call it a firm recovery," Berger said, referring to improving prospects in China. "We're not expecting a full recovery but rather it's an indication that parts of the economy will switch on as lockdowns are eased, at least relative to the worst point of the pandemic."

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News Network
May 11,2020

Kabul, May 11: Four back-to-back roadside bombs exploded in a northern district of Afghanistan's capital Kabul on Monday, wounding four civilians including a child, police said. Kabul police spokesman Ferdaws Faramarz said a clearance team was at the site of the attacks.

Militants have carried out several roadside bombings and rocket attacks in Kabul and other parts of the country in recent weeks, but Monday's four consecutive explosions appeared to be the first coordinated effort for some months.

The Taliban has not carried out any large attacks in the city since they signed a landmark withdrawal deal with the US in February, meant to pave the way for peace in the country. No group has claimed the attacks. The explosions come as authorities are trying to impose a lockdown in the capital to curb the spread of coronavirus in the country.

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