China has applied to join an 11-nation Asia-Pacific free trade group in an effort to increase its influence over international policies.
The treaty originally was the Trans-Pacific Partnership promoted by US. China was not included in the initial group before Trump pulled out in 2017.
Other members include Canada, Australia, Brunei, Chile, Japan, Malaysia, Mexico, Peru, Singapore and Vietnam. Britain is negotiating to join.
China’s government has promised to increase imports of goods but faces complaints it is failing to carry out promises made when it joined the World Trade Organisation in 2001 to open finance and other service industries.
New Zealand Cricket (NZC) have abandoned their tour of Pakistan following a New Zealand government security alert.
The side was set to play Pakistan in the first of three ODIs in Rawalpindi, before moving to Lahore for a five-match T20I series. New Zealand was slated to play their first match on Pakistan soil since 2003.
International teams have avoided touring Pakistan ever since the 2009 terror attack on the Sri Lankan cricket team, while it was on its way to the Gaddafi Stadium in Lahore for a Test match.
The Union Cabinet has cleared a proposal to provide ? 30,600 crore government guarantee for security receipts issued by the National Asset Reconstruction Company (NARCL) as part of resolution of bad loans.
NARCL proposes to acquire stressed assets of about ? 2 lakh crore in phases within extant regulations of Reserve Bank of India (RBI). It intends to acquire these through 15% cash and 85% in SRs.
NARCL has been incorporated under the Companies Act and has applied to RBI for license as an Asset Reconstruction Company (ARC).
NARCL has been set up by banks to aggregate and consolidate stressed assets for their subsequent resolution. PSBs will maintain 51% ownership in NARCL.