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Economy

More of US-Mexico migrant deal

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Trump 3

WASHINGTON: US President Donald Trump revealed today that Mexico agreed to take stronger legal action to halt Central American migrants if its initial efforts to stem the flow don’t show results in 45 days.
In bright sunshine outside the White House, Trump waved what he said was the text of an agreement Mexican and US officials signed Friday to avert the application of tariffs on their exports to the United States.
Photographs of the document revealed that Mexico appeared to pledge to enact or enforce certain domestic laws if Washington is not satisfied with the results of its first promised efforts — deploying 6,000 National Guardsmen to reinforce its southern border and expanding its policy of taking back asylum-seekers as the United States processes their claims.
If, after 45 days, the US government “determines at its discretion” that the results aren’t enough, the document says, “the Government of Mexico will take all necessary steps under domestic law to bring the agreement into force.”
The document gives the Mexican government another 45 days to achieve that.
It was not clear what specific measures the Mexican government would have to take.
Washington said last week it wanted Mexico to agree to a “safe third country” policy, in which migrants entering Mexican territory must apply for asylum there rather than in the US.

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Economy

Nahakki Tunnel opened for traffic

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TUNNEL

ISLAMABAD: The 745-meter-long Nahakki Tunnel has been completed in Mohmand Agency.
The tunnel has been opened for all kinds of traffic as well. Locals talking to a private news channel said after the construction of the tunnel, traveling of five hours has been reduced to merely 2.5 hours.
People said they were happy with this infrastructure as it would facilitate them in traveling and save time.

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Asia

Turkey hits out at Moody’s after credit rating cut

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ANKARA: Turkey on Saturday lambasted Moody’s ratings agency after it cut Ankara’s credit rating further into junk territory, saying the downgrade raised concerns over the institution’s “objectivity and impartiality”.
The agency downgraded the long-term debt rating to B1 from Ba3 and said it maintained the negative outlook for Turkey, in a statement late Friday.
Although the country had a “large, diverse economy” and government debt was low, Moody’s said this was outweighed increasingly by “continued erosion in institutional strength and policy effectiveness on investor confidence”.
But the Turkish treasury and finance ministry said the move was “incompatible with the Turkish economy’s fundamental indicators”.
“As a result, this raises questions over the objectivity and impartiality of the body’s analyses,” the ministry added in a statement.
It pointed to rising tourism revenues, falling inflation, and a new judicial reform package as examples of “very positive developments that we sadly see are being ignored”.
The Turkish economy entered into recession for the first time in a decade last year following a currency crisis in the summer amid tensions with the United States.

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Economy

Russia warns against ‘hasty conclusions’ over tanker attacks

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Russia Iran

MOSCOW: Russia warned Friday against jumping to conclusions over the attacks on two oil tankers in the Gulf of Oman after US President Donald Trump blamed them on Iran.
“We consider it necessary to refrain from hasty conclusions,” the Russian foreign ministry said, calling for a thorough international investigation.

A relevant piece published earlier: 

Trump blames Iran in tanker blasts

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