The government in <a href="https://www.wionews.com/world/will-continue-to-reduce-nuclear-deal-commitments-unless-europe-protects-iran-from-us-sanctions-javad-zarif-239698">sanctions-hit Iran</a> on Wednesday approved a plan to remove zeros from the rial and rename the currency -&nbsp;something its people have long been doing to simplify transactions.

"The cabinet today agreed on a bill to eliminate four zeros from the currency and that 'toman' will be our national currency," government spokesman Ali Rabiei told reporters in Tehran.

The value of the Iranian rial has hit low after record low since last year.

The currency was trading at about 37,000 to the dollar three years ago, but it slumped to around 180,000 last year.

That was after US President Donald Trump announced the United States was unilaterally withdrawing from the <a href="https://www.wionews.com/world/its-normal-for-iran-to-test-missiles-iranian-defence-minister-amir-hatami-239724">2015 Iran nuclear deal</a> and reimposing biting sanctions.

At the time, long queues were seen outside exchange offices, before the Iranian government took drastic measures by arresting unlicensed dealers and freezing the accounts of speculators.

Currently, the rial is trading at around 120,000 to the US dollar on the street, while the official rate is 42,000.

This means anyone without a bank card has had to virtually abandon coins and carry around thick wads of banknotes in their purses or wallets just to make everyday purchases.

In a bid to simplify transactions, Iranians have long referred to their currency as the toman and chopped off a zero -&nbsp;a unique system that is a source of confusion for foreign visitors.

The Iranian government has now acknowledged this with its latest move, which needs to be forwarded to parliament for final approval.

"This will make the national currency more effective," said the spokesman Rabiei.

"It will be more in line with common practice in society... the rial is not used that much.

"Coins will once again come into circulation," he added.

The International Monetary Fund has to forecast Iran's economy to shrink by 6.0 per cent this year due to sanctions and rising instability in the Middle East.

The government in sanctions-hit Iran on Wednesday approved a plan to remove zeros from the rial and rename the currency - something its people have long been doing to simplify transactions.

The government in sanctions-hit Iran on Wednesday approved a plan to remove zeros from the rial and rename the currency - something its people have long been doing to simplify transactions. "The cabinet today agreed on a bill to eliminate four zeros from the currency and that 'toman' will be our national currency," government spokesman Ali Rabiei told reporters in Tehran. The value of the Iranian rial has hit low after record low since last year. The currency was trading at about 37,000 to the dollar three years ago, but it slumped to around 180,000 last year. That was after US President Donald Trump announced the United States was unilaterally withdrawing from the 2015 Iran nuclear deal and reimposing biting sanctions. At the time, long queues were seen outside exchange offices, before the Iranian government took drastic measures by arresting unlicensed dealers and freezing the accounts of speculators. Currently, the rial is trading at around 120,000 to the US dollar on the street, while the official rate is 42,000. This means anyone without a bank card has had to virtually abandon coins and carry around thick wads of banknotes in their purses or wallets just to make everyday purchases. In a bid to simplify transactions, Iranians have long referred to their currency as the toman and chopped off a zero - a unique system that is a source of confusion for foreign visitors. The Iranian government has now acknowledged this with its latest move, which needs to be forwarded to parliament for final approval. "This will make the national currency more effective," said the spokesman Rabiei. "It will be more in line with common practice in society... the rial is not used that much. "Coins will once again come into circulation," he added. The International Monetary Fund has to forecast Iran's economy to shrink by 6.0 per cent this year due to sanctions and rising instability in the Middle East.

Sanctions-hit Iran to cut zeros and rename plunging currency

Russian police said they had arrested a man suspected of murdering a popular lifestyle blogger and model whose body was found in a suitcase in her apartment in Moscow.

Ekaterina Karaglanova's landlord found the 24-year-old's body at a rented apartment on Saturday after her parents had been unable to reach her by phone, the Investigative Committee which handles major crimes said. She had been stabbed.

Karaglanova, who had studied at a medical university, ran a travel, fashion and lifestyle blog on Instagram and had more than 80,000 followers.

Investigators did not disclose the identity of the suspect, saying only he had been born in 1986.

Popular Russian tabloid Komsomolskaya Pravda identified the suspect as a 33-year-old acquaintance who had grown jealous after learning Karaglanova planned to go on holiday with another man.

Russian police said they had arrested a man suspected of murdering a popular lifestyle blogger and model whose body was found in a suitcase in her apartment in Moscow.

Russian police said they had arrested a man suspected of murdering a popular lifestyle blogger and model whose body was found in a suitcase in her apartment in Moscow. Ekaterina Karaglanova's landlord found the 24-year-old's body at a rented apartment on Saturday after her parents had been unable to reach her by phone, the Investigative Committee which handles major crimes said. She had been stabbed. Karaglanova, who had studied at a medical university, ran a travel, fashion and lifestyle blog on Instagram and had more than 80,000 followers. Investigators did not disclose the identity of the suspect, saying only he had been born in 1986. Popular Russian tabloid Komsomolskaya Pravda identified the suspect as a 33-year-old acquaintance who had grown jealous after learning Karaglanova planned to go on holiday with another man.

Russian police arrest man over murder of popular fashion blogger

<a href="https://www.wionews.com/world/mexico-says-migrant-numbers-at-us-border-down-40-since-may-239609">Mexico</a> narrowly avoided slipping into recession during the first half of 2019 as the gross domestic product grew by a fraction in the second quarter, an initial estimate showed, but weakness persisted across the board.

A preliminary reading by the national statistics agency on Wednesday showed that Mexico's economy, Latin America's second-biggest, grew by 0.1 per cent in the April-June period from the previous quarter when adjusted for seasonal swings.

A Reuters poll of economists had forecast GDP would be flat compared with the first quarter when the economy shrank by 0.2 per cent quarter-on-quarter.

In unadjusted terms, the economy contracted by 0.7 per cent from the same period a year earlier.

Economists generally define two consecutive quarters of negative GDP as a technical recession, though there is no established global definition for the phenomenon.

The government has rejected the suggestion that the country is in a slump, and <a href="https://www.wionews.com/world/trump-adviser-influential-senator-cast-doubt-on-mexico-tariffs-224742">President Andres Manuel Lopez Obrador</a> on Monday was adamant that Mexico is not in a recession.

Investor confidence in Mexico has been shaken by some of the decisions of Lopez Obrador, a leftist exponent of economic nationalism who took office in December vowing to reduce chronic inequality and deliver average annual growth of 4 per cent.

In particular, his decision to cancel a partly built $13 billion new Mexico City airport and his retreat from the prior government's opening of the oil and gas industry to private capital have raised doubts about his economic credentials.

During the past few months, private and public sector analysts have pared back their Mexican growth forecasts, with some now predicting little expansion at all in 2019. Lopez Obrador said he expects growth of 2 per cent this year.

The president has attacked critics of his policies as supporters of what he has characterized as a corrupt "neo-liberal" era that preceded his time in office.

However, he has also had to contend with the risk of economic disruption from the United States the destination for around 80 per cent of Mexico's goods exports due to tensions with US President Donald Trump over illegal immigration.

Mexico narrowly avoided slipping into recession during the first half of 2019 as the gross domestic product grew by a fraction in the second quarter, an initial estimate showed, but weakness persisted across the board.

Mexico narrowly avoided slipping into recession during the first half of 2019 as the gross domestic product grew by a fraction in the second quarter, an initial estimate showed, but weakness persisted across the board. A preliminary reading by the national statistics agency on Wednesday showed that Mexico's economy, Latin America's second-biggest, grew by 0.1 per cent in the April-June period from the previous quarter when adjusted for seasonal swings. A Reuters poll of economists had forecast GDP would be flat compared with the first quarter when the economy shrank by 0.2 per cent quarter-on-quarter. In unadjusted terms, the economy contracted by 0.7 per cent from the same period a year earlier. Economists generally define two consecutive quarters of negative GDP as a technical recession, though there is no established global definition for the phenomenon. The government has rejected the suggestion that the country is in a slump, and President Andres Manuel Lopez Obrador on Monday was adamant that Mexico is not in a recession. Investor confidence in Mexico has been shaken by some of the decisions of Lopez Obrador, a leftist exponent of economic nationalism who took office in December vowing to reduce chronic inequality and deliver average annual growth of 4 per cent. In particular, his decision to cancel a partly built $13 billion new Mexico City airport and his retreat from the prior government's opening of the oil and gas industry to private capital have raised doubts about his economic credentials. During the past few months, private and public sector analysts have pared back their Mexican growth forecasts, with some now predicting little expansion at all in 2019. Lopez Obrador said he expects growth of 2 per cent this year. The president has attacked critics of his policies as supporters of what he has characterized as a corrupt "neo-liberal" era that preceded his time in office. However, he has also had to contend with the risk of economic disruption from the United States the destination for around 80 per cent of Mexico's goods exports due to tensions with US President Donald Trump over illegal immigration.

Mexico narrowly escapes recession with minimal second-quarter growth

Turkey's central bank cut its inflation forecasts on Wednesday and new governor Murat Uysal said it has "considerable" room for manoeuvre on interest rates in coming months, a week after it began an expected policy easing cycle with a big cut.

Uysal appointed this month after <a href="https://www.wionews.com/world/turkish-president-recep-tayyip-erdogan-says-trump-can-waive-sanctions-on-turkey-report-236013">President Tayyip Erdogan</a> dismissed his predecessor also said the bank had independence in its use of tools to reach its inflation target.

Periodic doubts about the bank's freedom from political interference resurfaced after Murat Cetinkaya's abrupt sacking. Erdogan said the former bank governor had failed to follow instructions.

The upbeat comments by Uysal, who was Cetinkaya's deputy, set the scene for more rate cuts over the next months, especially if a spreading monetary easing trend among major central banks continues to stabilise the Turkish lira after its meltdown last year.

The lira was up 0.6 per cent at 5.53 against the dollar at 1246 GMT, on track for a sixth straight day of gains.

"In the upcoming period, we have a considerable room for manoeuvre on rates. Its application, timing and size will depend on the improvements on price and financial stability," Uysal said. "We will make (the decision) based on data."

The central bank hiked its policy rate to 24 per cent at the peak of last year's currency crisis. High rates, along with companies burdened with large amounts of foreign currency debt, drove the economy into recession and cut nearly 30 per cent from the value of the lira.

It also sent inflation soaring above 25 per cent. It has since fallen to below 16 per cent, paving the way for the bank to cut rates last week by 425 basis points to 19.75 per cent.

On Wednesday, the bank cut its inflation forecast for 2019 to 13.9 per cent from 14.6 per cent but left next year's outlook unchanged at 8.2 per cent. Uysal said the policy would depend on the inflation outlook.

In a separate publication of the minutes of the bank's policy meeting last week, it said there was a risk that inflation would not edge lower as expected.

"Although other central banks have generally been cutting, Turkish interest rates remain high and there's room for more cuts," said Nikolay Markov, senior economist at Pictet Asset Management, who expects the policy rate to fall to about 14 per cent by mid-2020.

"People thought (Uysal) would be a lot more political and what he has said today makes sense and that provides some comfort to foreign investors."

Asked in a press conference about Cetinkaya's sacking, Uysal said it had met legal requirements.

He also said the central bank had a more optimistic outlook for the economy in 2020 as lira volatility ebbed.

"The delayed, cumulative effects of the exchange rate slowly being left behind is turning our expectations for 2020 to a positive trajectory," he said.

Turkey's central bank cut its inflation forecasts on Wednesday and new governor Murat Uysal said it has "considerable" room for manoeuvre on interest rates in coming months, a week after it began an expected policy easing cycle with a big cut.

Turkey's central bank cut its inflation forecasts on Wednesday and new governor Murat Uysal said it has "considerable" room for manoeuvre on interest rates in coming months, a week after it began an expected policy easing cycle with a big cut. Uysal appointed this month after President Tayyip Erdogan dismissed his predecessor also said the bank had independence in its use of tools to reach its inflation target. Periodic doubts about the bank's freedom from political interference resurfaced after Murat Cetinkaya's abrupt sacking. Erdogan said the former bank governor had failed to follow instructions. The upbeat comments by Uysal, who was Cetinkaya's deputy, set the scene for more rate cuts over the next months, especially if a spreading monetary easing trend among major central banks continues to stabilise the Turkish lira after its meltdown last year. The lira was up 0.6 per cent at 5.53 against the dollar at 1246 GMT, on track for a sixth straight day of gains. "In the upcoming period, we have a considerable room for manoeuvre on rates. Its application, timing and size will depend on the improvements on price and financial stability," Uysal said. "We will make (the decision) based on data." The central bank hiked its policy rate to 24 per cent at the peak of last year's currency crisis. High rates, along with companies burdened with large amounts of foreign currency debt, drove the economy into recession and cut nearly 30 per cent from the value of the lira. It also sent inflation soaring above 25 per cent. It has since fallen to below 16 per cent, paving the way for the bank to cut rates last week by 425 basis points to 19.75 per cent. On Wednesday, the bank cut its inflation forecast for 2019 to 13.9 per cent from 14.6 per cent but left next year's outlook unchanged at 8.2 per cent. Uysal said the policy would depend on the inflation outlook. In a separate publication of the minutes of the bank's policy meeting last week, it said there was a risk that inflation would not edge lower as expected. "Although other central banks have generally been cutting, Turkish interest rates remain high and there's room for more cuts," said Nikolay Markov, senior economist at Pictet Asset Management, who expects the policy rate to fall to about 14 per cent by mid-2020. "People thought (Uysal) would be a lot more political and what he has said today makes sense and that provides some comfort to foreign investors." Asked in a press conference about Cetinkaya's sacking, Uysal said it had met legal requirements. He also said the central bank had a more optimistic outlook for the economy in 2020 as lira volatility ebbed. "The delayed, cumulative effects of the exchange rate slowly being left behind is turning our expectations for 2020 to a positive trajectory," he said.

Turkey's cenbank trims inflation view, new head sees room for rate cuts

China's top diplomat on Wednesday warned outside countries not to amplify disputes in the South China Sea, where recent Chinese manoeuvring in the energy-rich waters has rattled regional states and drawn condemnation from the United States.

Chinese Councillor Wang Yi touted progress on an eventual Code of Conduct with the 10-member <a href="https://www.wionews.com/south-east-asia/southeast-asia-should-ban-foreign-trash-imports-environmentalists-228309">Association of Southeast Asian Nations (ASEAN)</a> after meeting counterparts in the Thai capital.

Tensions have risen in the <a href="https://www.wionews.com/world/china-holds-military-drills-in-south-china-sea-near-taiwan-239171">South China Sea</a> over recent incidents between Chinese and Vietnamese and Philippine ships, the latest confrontations in a potential global flashpoint where the United States challenges China's sweeping maritime claims.

Wang, who is scheduled to meet US Secretary of State Mike Pompeo in Bangkok, reiterated after meeting ASEAN foreign ministers that China opposes interference by countries outside the region.

"We think non-regional countries should not deliberately amplify such differences or disputes left from the past," said Wang, responding to a question on the involvement of US and other non-Asian countries in the discussions.

"Non-regional countries should also not make use of these differences to sow distrust between China and ASEAN countries."

China recently said US criticism of its role in the South China Sea, including comments by Pompeo, were "slanderous".

Wang said China is in discussions to expand and "institutionalise" joint military drills with ASEAN countries in the region following two previous exercises.

The South China Sea was a key topic for ASEAN foreign ministers.

"Concerns were expressed by some ministers on the land reclamations, activities and serious incidents in the area," they said in a final communique.

The reference to "serious incidents" was stronger than that in the communique after their meeting last year, pointing to the extent to which tension over the region has risen.

China claims large parts of the South China Sea through which roughly $3.4 trillion in shipping passes each year. Countries including Malaysia, the Philippines, Taiwan and Vietnam contest the territorial claims.

China has unnerved the region and angered the United States by installing military equipment and other facilities on artificial islands it has made by reclaiming land and building up reefs and shoals.

Researchers and analysts say the latest standoff between Chinese and Vietnamese vessels could give the United States a new incentive to pressure China.

But they said China was unlikely to want to inflame the situation given its trade dispute with the United States and protests in Hong Kong.

"That tension right now going on between China and Vietnam will be the United States' anchor into making any statements on the South China Sea," said Jay Batongbacal, an expert on the South China Sea at the University of the Philippines.

"What China will be more concerned about is if the US tries to rally international support against China's activities," he said.

China's top diplomat on Wednesday warned outside countries not to amplify disputes in the South China Sea, where recent Chinese manoeuvring in the energy-rich waters has rattled regional states and drawn condemnation from the United States.

China's top diplomat on Wednesday warned outside countries not to amplify disputes in the South China Sea, where recent Chinese manoeuvring in the energy-rich waters has rattled regional states and drawn condemnation from the United States. Chinese Councillor Wang Yi touted progress on an eventual Code of Conduct with the 10-member Association of Southeast Asian Nations (ASEAN) after meeting counterparts in the Thai capital. Tensions have risen in the South China Sea over recent incidents between Chinese and Vietnamese and Philippine ships, the latest confrontations in a potential global flashpoint where the United States challenges China's sweeping maritime claims. Wang, who is scheduled to meet US Secretary of State Mike Pompeo in Bangkok, reiterated after meeting ASEAN foreign ministers that China opposes interference by countries outside the region. "We think non-regional countries should not deliberately amplify such differences or disputes left from the past," said Wang, responding to a question on the involvement of US and other non-Asian countries in the discussions. "Non-regional countries should also not make use of these differences to sow distrust between China and ASEAN countries." China recently said US criticism of its role in the South China Sea, including comments by Pompeo, were "slanderous". Wang said China is in discussions to expand and "institutionalise" joint military drills with ASEAN countries in the region following two previous exercises. The South China Sea was a key topic for ASEAN foreign ministers. "Concerns were expressed by some ministers on the land reclamations, activities and serious incidents in the area," they said in a final communique. The reference to "serious incidents" was stronger than that in the communique after their meeting last year, pointing to the extent to which tension over the region has risen. China claims large parts of the South China Sea through which roughly $3.4 trillion in shipping passes each year. Countries including Malaysia, the Philippines, Taiwan and Vietnam contest the territorial claims. China has unnerved the region and angered the United States by installing military equipment and other facilities on artificial islands it has made by reclaiming land and building up reefs and shoals. Researchers and analysts say the latest standoff between Chinese and Vietnamese vessels could give the United States a new incentive to pressure China. But they said China was unlikely to want to inflame the situation given its trade dispute with the United States and protests in Hong Kong. "That tension right now going on between China and Vietnam will be the United States' anchor into making any statements on the South China Sea," said Jay Batongbacal, an expert on the South China Sea at the University of the Philippines. "What China will be more concerned about is if the US tries to rally international support against China's activities," he said.

China warns outsiders not to 'sow distrust' in South China Sea

Australian universities are being investigated over their contracts with Chinese-state run Confucius Institutes, officials said Thursday, amid fresh revelations over the scope of Beijing's control of teaching in the centres.

Attorney-General Christian Porter said the government was looking at whether deals between thirteen Australian universities and the Confucius Institutes breach new foreign interference laws.

The organisation - which has been likened to France's Alliance Francaise, Spain's Instituto Cervantes and the British Council - teaches students about Chinese language and culture.

However, critics say the classes ofter a selective view of Chinese life - purposely avoiding sensitive topics such as the Tiananmen Square crackdown or Tibet.

A 2018 study by German academic Falk Hartig found that 50 Confucius Institutes in Asia, Africa, Europe and the Americas had a "clear agenda to present an apolitical version of China".

Australia's government has pressed universities to register the institutes - run by China's ministry of education - under new laws to track foreign actors seeking to influence Australian politics and governance.

Porter said his office has been "undertaking inquiries with a number of universities over recent months to ascertain whether certain arrangements should be registered" and meeting Confucius Institutes' representatives.&nbsp;

"I have now asked my department to specifically examine the arrangements between all Confucius Institutes and universities in order to ensure compliance with the Foreign Influence Transparency Scheme."

- Careful attention - 
In a statement Thursday, Universities Australia said they were "giving careful attention" to the rules, introduced last year.

So far none of the institutes features on the foreign influence registry, which is public.

"Our nation's universities are looking carefully at their agreements with foreign entities to ensure they comply with the new laws," said Chief Executive Catriona Jackson.&nbsp;

Her comments came as the Sydney Morning Herald published 11 of the 13 contracts between Confucius Institutes and Australian universities.

Four contracts featured clauses that gave the Chinese institutes final say on "teaching quality" and stated activities must respect "cultural custom". &nbsp;

In return, the universities received minimum funding of Aus$100,000-$150,000 upfront and 3,000 Chinese books and other materials.

The four schools are the University of Queensland, La Trobe University, Griffith University and Charles Darwin University.

In separate statements, the universities stressed the institutes' classes were not part of degree programmes and were conceived as a service to the local community.

The University of Queensland said it was in the process of renegotiating the contract, with legal obligations "front of mind."

Griffith University indicated this contract -&nbsp;like others -&nbsp;would be reviewed "when they are considered for renewal."

The deals have helped boost educational ties between China and Australia. An estimated 190,000 Chinese students study at Australian universities, bringing in much-needed revenue.

But the links have also created tensions as the two very different political cultures meet.

On Wednesday there was a violent standoff between pro-Hong Kong democracy protestors and a group of students backing Beijing at the University of Queensland.

The university was recently put in the spotlight for making the Chinese consul-general in Brisbane a guest professor at the school of languages and culture.

&nbsp;

Australian universities are being investigated over their contracts with Chinese-state run Confucius Institutes, officials said Thursday, amid fresh revelations over the scope of Beijing's control of teaching in the centres.

Australian universities are being investigated over their contracts with Chinese-state run Confucius Institutes, officials said Thursday, amid fresh revelations over the scope of Beijing's control of teaching in the centres. Attorney-General Christian Porter said the government was looking at whether deals between thirteen Australian universities and the Confucius Institutes breach new foreign interference laws. The organisation - which has been likened to France's Alliance Francaise, Spain's Instituto Cervantes and the British Council - teaches students about Chinese language and culture. However, critics say the classes ofter a selective view of Chinese life - purposely avoiding sensitive topics such as the Tiananmen Square crackdown or Tibet. A 2018 study by German academic Falk Hartig found that 50 Confucius Institutes in Asia, Africa, Europe and the Americas had a "clear agenda to present an apolitical version of China". Australia's government has pressed universities to register the institutes - run by China's ministry of education - under new laws to track foreign actors seeking to influence Australian politics and governance. Porter said his office has been "undertaking inquiries with a number of universities over recent months to ascertain whether certain arrangements should be registered" and meeting Confucius Institutes' representatives. "I have now asked my department to specifically examine the arrangements between all Confucius Institutes and universities in order to ensure compliance with the Foreign Influence Transparency Scheme." - Careful attention - In a statement Thursday, Universities Australia said they were "giving careful attention" to the rules, introduced last year. So far none of the institutes features on the foreign influence registry, which is public. "Our nation's universities are looking carefully at their agreements with foreign entities to ensure they comply with the new laws," said Chief Executive Catriona Jackson. Her comments came as the Sydney Morning Herald published 11 of the 13 contracts between Confucius Institutes and Australian universities. Four contracts featured clauses that gave the Chinese institutes final say on "teaching quality" and stated activities must respect "cultural custom". In return, the universities received minimum funding of Aus$100,000-$150,000 upfront and 3,000 Chinese books and other materials. The four schools are the University of Queensland, La Trobe University, Griffith University and Charles Darwin University. In separate statements, the universities stressed the institutes' classes were not part of degree programmes and were conceived as a service to the local community. The University of Queensland said it was in the process of renegotiating the contract, with legal obligations "front of mind." Griffith University indicated this contract - like others - would be reviewed "when they are considered for renewal." The deals have helped boost educational ties between China and Australia. An estimated 190,000 Chinese students study at Australian universities, bringing in much-needed revenue. But the links have also created tensions as the two very different political cultures meet. On Wednesday there was a violent standoff between pro-Hong Kong democracy protestors and a group of students backing Beijing at the University of Queensland. The university was recently put in the spotlight for making the Chinese consul-general in Brisbane a guest professor at the school of languages and culture.

Australian universities face probe over China deals

Polish lawmakers have approved a measure that would exonerate most workers under the age of 26 from income taxes as the country seeks to stem the flow of its young people to other EU nations in search of better-paying jobs.

The lower house of parliament approved the measure introduced by the ruling conservatives in a vote late Thursday by an overwhelming majority.

The bill would exonerate workers under the age of 26 from Poland's 18 per cent personal income tax for those whose gross earnings don't surpass 85,500 zlotys (20,000 euros, $22,500) per year.

That level is higher than Poland's average income, estimated to be around 60,000 zlotys per year before tax.

The approval of the measure by the upper house of parliament and its signature by the president is widely expected.

Some two million people could benefit from the measure, according to supporters of the legislation, which should enter into force from August 1.

Poland has long been haemorrhaging skilled workers to other EU states where they can find better-paying jobs, posing both a long-term demographic risk and short-term problem finding enough labourers to continue the country's streak of economic growth since the fall of communism in 1989.

The measure was one of the campaign promises made by the ruling Law and Justice party ahead of the European parliamentary elections in May, which it won, and legislative elections scheduled for later this year. 
&nbsp;

Polish lawmakers have approved a measure that would exonerate most workers under the age of 26 from income taxes as the country seeks to stem the flow of its young people to other EU nations in search of better-paying jobs.

Polish lawmakers have approved a measure that would exonerate most workers under the age of 26 from income taxes as the country seeks to stem the flow of its young people to other EU nations in search of better-paying jobs. The lower house of parliament approved the measure introduced by the ruling conservatives in a vote late Thursday by an overwhelming majority. The bill would exonerate workers under the age of 26 from Poland's 18 per cent personal income tax for those whose gross earnings don't surpass 85,500 zlotys (20,000 euros, $22,500) per year. That level is higher than Poland's average income, estimated to be around 60,000 zlotys per year before tax. The approval of the measure by the upper house of parliament and its signature by the president is widely expected. Some two million people could benefit from the measure, according to supporters of the legislation, which should enter into force from August 1. Poland has long been haemorrhaging skilled workers to other EU states where they can find better-paying jobs, posing both a long-term demographic risk and short-term problem finding enough labourers to continue the country's streak of economic growth since the fall of communism in 1989. The measure was one of the campaign promises made by the ruling Law and Justice party ahead of the European parliamentary elections in May, which it won, and legislative elections scheduled for later this year.

Poland moves to exempt young workers from income tax

<a href="https://www.wionews.com/world/no-sense-for-us-to-exercise-maximum-pressure-says-china-as-trade-meeting-ends-239682">US and Chinese trade negotiators</a> agreed to meet again in the United States in September after holding "frank, highly efficient and constructive" talks in Shanghai on Wednesday, state media said.

US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer met with Vice Premier Liu He in the Chinese financial hub for the first face-to-face negotiations since a trade war truce was declared last month.

"The two sides conducted frank, highly efficient and constructive in-depth exchanges on major issues of common interest in the economic and trade field," according to the official Xinhua news agency.

Negotiators also discussed "the issue of China increasing its purchases of US agricultural products according to its domestic needs" and the US creating "favourable conditions for these purchases", Xinhua said.

Shortly after the US negotiators arrived in Shanghai on Tuesday, US President Donald Trump lambasted China on Twitter, accusing Beijing of not buying agricultural products as it was supposed to do.

Trump also warned China against waiting until the November 2020 US presidential election to make a deal because "if &amp; when I win, the deal that they get will be much tougher than what we are negotiating now ... or no deal at all".

US and Chinese trade negotiators agreed to meet again in the United States in September after holding "frank, highly efficient and constructive" talks in Shanghai on Wednesday, state media said.

US and Chinese trade negotiators agreed to meet again in the United States in September after holding "frank, highly efficient and constructive" talks in Shanghai on Wednesday, state media said. US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer met with Vice Premier Liu He in the Chinese financial hub for the first face-to-face negotiations since a trade war truce was declared last month. "The two sides conducted frank, highly efficient and constructive in-depth exchanges on major issues of common interest in the economic and trade field," according to the official Xinhua news agency. Negotiators also discussed "the issue of China increasing its purchases of US agricultural products according to its domestic needs" and the US creating "favourable conditions for these purchases", Xinhua said. Shortly after the US negotiators arrived in Shanghai on Tuesday, US President Donald Trump lambasted China on Twitter, accusing Beijing of not buying agricultural products as it was supposed to do. Trump also warned China against waiting until the November 2020 US presidential election to make a deal because "if & when I win, the deal that they get will be much tougher than what we are negotiating now ... or no deal at all".

US, Chinese trade negotiators to meet again in September: Report

<a href="https://www.wionews.com/world/saudi-led-forces-israel-among-states-rapped-by-un-for-killing-children-239735">Saudi-led forces, Israel among states rapped by United Nations for killing children</a> 
 
The UN report said the Houthis killed and injured 398 children and Yemeni government forces were responsible for 58 child casualties.

<a href="https://www.wionews.com/india-news/india-takes-up-killing-of-indian-civilian-in-ceasefire-violation-by-pakistan-239696">India takes up killing of Indian civilian in ceasefire violation by Pakistan</a> 
 
Rahme Begum, resident of Dassi Baktoor, died after shelling by Pakistani army in Gurez sector of North Kashmir.

<a href="https://www.wionews.com/world/will-continue-to-reduce-nuclear-deal-commitments-unless-europe-protects-iran-from-us-sanctions-javad-zarif-239698">Iran to cut nuke deal commitments if Europe doesn't protect from US sanctions</a> 
 
Iran has said it will reduce its commitment to the nuclear accord in stages and may even withdraw from the pact unless the Europeans find ways to shield its economy from the US sanctions.

<a href="https://www.wionews.com/world/in-a-bid-to-curb-plastic-pollution-pepsi-and-coca-cola-sever-ties-with-plastics-industry-association-239706">Pepsi and Coca Cola sever ties with Plastics Industry Association</a>&nbsp; 
 
According to American media reports, both the companies are trying to ensure that their packaging is recyclable.&nbsp;

<a href="https://www.wionews.com/india-news/s-jaishankar-likely-to-meet-mike-pompeo-in-bangkok-239751">Foreign minister S Jaishankar likely to meet Mike Pompeo in Bangkok</a> 
 
Jaishankar-Pompeo pull aside will be the first high-level engagement between US and India since President Donald Trump's remarks on Kashmir.&nbsp; 
&nbsp;

Saudi-led forces, Israel among states rapped by United Nations for killing children The UN report said the Houthis killed and injured 398 children and Yemeni government forces were responsible for 58 child casualties.

Saudi-led forces, Israel among states rapped by United Nations for killing children The UN report said the Houthis killed and injured 398 children and Yemeni government forces were responsible for 58 child casualties. India takes up killing of Indian civilian in ceasefire violation by Pakistan Rahme Begum, resident of Dassi Baktoor, died after shelling by Pakistani army in Gurez sector of North Kashmir. Iran to cut nuke deal commitments if Europe doesn't protect from US sanctions Iran has said it will reduce its commitment to the nuclear accord in stages and may even withdraw from the pact unless the Europeans find ways to shield its economy from the US sanctions. Pepsi and Coca Cola sever ties with Plastics Industry Association According to American media reports, both the companies are trying to ensure that their packaging is recyclable. Foreign minister S Jaishankar likely to meet Mike Pompeo in Bangkok Jaishankar-Pompeo pull aside will be the first high-level engagement between US and India since President Donald Trump's remarks on Kashmir.

News brief: Big stories of the day

On Wednesday, <a href="https://www.wionews.com/world/north-korea-fires-short-range-ballistic-missiles-south-korean-military-239597">North Korea</a> fired two, <a href="https://www.wionews.com/world/ahead-of-south-korea-us-military-drill-north-korea-fires-two-short-range-ballistic-missiles-239579">new short-range ballistic missiles</a>. The latest launches were from Wonsan area on North Korea’s east coast - the same area from where the missiles were fired last week.&nbsp;

The missile tests also come amid North Korea showcasing a new submarine last week which is capable of carrying up to three ballistic missiles.

South Korea says that North Korea fired ballistic missiles that flew about 250 kilometres and that they appeared to be similar to those launched last week.

Dubbed the KN-23, the missiles are designed to evade missile defence systems by being easier to hide, launch, and manoeuvre in flight.&nbsp;

Watch Video:

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/north-korea-missile-tests-are-warning-to-south-korea-238647/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The two KN-23s launched last week were reported as having a “low-altitude gliding and leaping flight” pattern that would make them hard to intercept.

Some analysts said that the range and the altitude of Wednesday’s flights could indicate a test of those capabilities.&nbsp;

Why missile tests?

The answer is not far to seek. North Korea does not want the United States and South Korea to conduct joint military drills planned for August. The country is also upset by South Korea buying F-35 fighter jets from the US.

&nbsp;July 25 missile tests

The missiles launched on July 25 were North Korea's first missile tests since Kim Jong-Un and Donald Trump met on June 30 and agreed to revive stalled denuclearisation talks.

The missile tests are intended to pressure South Korea and the United States to stop upcoming military drills.

South Korea has bought US-manufactured F-35 stealth fighter jets. It took delivery of its first two F-35 jets in March with more slated to arrive this year.

It has agreed to buy a total of 40 of the advanced aircraft, the last to be delivered by 2021.

Destroy US-manufactured weapons!

North Korean state media said on July 11 that Pyongyang must develop and test “special armaments” to destroy the new US-manufactured weapons.

“There is no room for doubt that the delivery of ‘F-35a’, which is also called an ‘invisible lethal weapon’, is aimed at securing military supremacy over the neighbouring countries in the region and especially opening a ‘gate’ to invading the north in time of emergency on the korean peninsula,” read a statement published by North Korean state news agency KCNA.

'No other choice'

North Korea stated that Pyongyang has no other choice but to develop and test the special armaments to completely destroy the lethal weapons reinforced in South Korea.

US playing down launches

US President Donald Trump and his foreign minister Mike Pompeo had played down last week’s launches.

Pompeo has continued to express hope for a diplomatic way forward with North Korea. For his part, Japanese Prime Minister Shinzo Abe said there was no impact from Wednesday’s launch on Japan’s security.

The missile tests came on a day when Pompeo met ASEAN leaders in Thailand's capital Bangkok.&nbsp;

Trump and Kim last met on June 30 in the Demilitarised Zone (DMZ) between the two Koreas.

Breach of promise

Since then, Pyongyang has accused Washington of breaking a promise by planning to hold joint military exercises with South Korea next month and warned those drills could derail talks.&nbsp;

North Korea has also warned of a possible end to its freeze on nuclear and long-range missile tests that has been in place since 2017. Trump has repeatedly upheld this as evidence of the success of his engagement with Kim.&nbsp;

The February summit between Trump and Kim in Vietnam had collapsed after the leaders failed to reconcile differences between Washington’s demands for Pyongyang’s complete denuclearisation and North Korean demands for sanctions relief.

On Wednesday, North Korea fired two, new short-range ballistic missiles. The latest launches were from Wonsan area on North Korea’s east coast - the same area from where the missiles were fired last week.

On Wednesday, North Korea fired two, new short-range ballistic missiles. The latest launches were from Wonsan area on North Korea’s east coast - the same area from where the missiles were fired last week. The missile tests also come amid North Korea showcasing a new submarine last week which is capable of carrying up to three ballistic missiles. South Korea says that North Korea fired ballistic missiles that flew about 250 kilometres and that they appeared to be similar to those launched last week. Dubbed the KN-23, the missiles are designed to evade missile defence systems by being easier to hide, launch, and manoeuvre in flight. Watch Video: The two KN-23s launched last week were reported as having a “low-altitude gliding and leaping flight” pattern that would make them hard to intercept. Some analysts said that the range and the altitude of Wednesday’s flights could indicate a test of those capabilities. Why missile tests? The answer is not far to seek. North Korea does not want the United States and South Korea to conduct joint military drills planned for August. The country is also upset by South Korea buying F-35 fighter jets from the US. July 25 missile tests The missiles launched on July 25 were North Korea's first missile tests since Kim Jong-Un and Donald Trump met on June 30 and agreed to revive stalled denuclearisation talks. The missile tests are intended to pressure South Korea and the United States to stop upcoming military drills. South Korea has bought US-manufactured F-35 stealth fighter jets. It took delivery of its first two F-35 jets in March with more slated to arrive this year. It has agreed to buy a total of 40 of the advanced aircraft, the last to be delivered by 2021. Destroy US-manufactured weapons! North Korean state media said on July 11 that Pyongyang must develop and test “special armaments” to destroy the new US-manufactured weapons. “There is no room for doubt that the delivery of ‘F-35a’, which is also called an ‘invisible lethal weapon’, is aimed at securing military supremacy over the neighbouring countries in the region and especially opening a ‘gate’ to invading the north in time of emergency on the korean peninsula,” read a statement published by North Korean state news agency KCNA. 'No other choice' North Korea stated that Pyongyang has no other choice but to develop and test the special armaments to completely destroy the lethal weapons reinforced in South Korea. US playing down launches US President Donald Trump and his foreign minister Mike Pompeo had played down last week’s launches. Pompeo has continued to express hope for a diplomatic way forward with North Korea. For his part, Japanese Prime Minister Shinzo Abe said there was no impact from Wednesday’s launch on Japan’s security. The missile tests came on a day when Pompeo met ASEAN leaders in Thailand's capital Bangkok. Trump and Kim last met on June 30 in the Demilitarised Zone (DMZ) between the two Koreas. Breach of promise Since then, Pyongyang has accused Washington of breaking a promise by planning to hold joint military exercises with South Korea next month and warned those drills could derail talks. North Korea has also warned of a possible end to its freeze on nuclear and long-range missile tests that has been in place since 2017. Trump has repeatedly upheld this as evidence of the success of his engagement with Kim. The February summit between Trump and Kim in Vietnam had collapsed after the leaders failed to reconcile differences between Washington’s demands for Pyongyang’s complete denuclearisation and North Korean demands for sanctions relief.

Why is North Korea conducting missile tests?

Shares of Apple Inc rose 4.2 per cent on Wednesday after the company calmed <a href="https://www.wionews.com/world/wall-street-notches-all-time-highs-as-rate-cut-hopes-lift-investor-spirits-235406">Wall Street</a> nerves with an improvement in sales in China and as several brokerages predicted a boost from its services business and the launch of new iPhones in the second half of 2019.

If the gains hold, Apple would be within touching distance of again topping $1 trillion in market value, just shy of the world's most valuable company, Microsoft Corp. Apple had 4.53 billion shares outstanding at the end of last quarter.

In the earnings report after markets closed on Tuesday, Apple said services revenue rose 12.6 per cent to $11.5 billion in the three months to June, offsetting a 12 per cent fall in global iPhone sales to just under $26 billion.

"We were especially pleased with the double-digit increase in Services driven by strong growth from the App Store in China," <a href="https://www.wionews.com/business-economy/want-to-make-high-end-computers-in-us-need-tariff-relief-apple-ceo-tim-cook-239585">Chief Executive Tim Cook</a> told a conference call after the results.

JP Morgan analyst Samik Chatterjee, who rates the stock 'Overweight', said he believed Apple's transformation of the services business and a strong product cycle are strong reasons to own its shares.

At least seven of the 43 brokerages who rate Apple shares raised their price targets for the stock, with Citigroup raising its price target by $45 to $250. The median of current recommendations is $217.

In mainland China, Cook said the overall number of Apple device users had grown in the fiscal third quarter, driving a more rise in services sales by the company in the world's second-largest economy.

Concerns about a slowdown in China, where iPhone sales continue to decline, have helped keep Apple's share price below last year's highs. But it is still up 50 per cent in value from lows hit in a market sell-off at the end of last year.

"If there is a China slowdown, clearly no one told Tim about it," Evercore analyst Amit Daryanani wrote in a note.

Shares of Apple Inc rose 4.2 per cent on Wednesday after the company calmed Wall Street nerves with an improvement in sales in China and as several brokerages predicted a boost from its services business and the launch of new iPhones in the second half of 2019.

Shares of Apple Inc rose 4.2 per cent on Wednesday after the company calmed Wall Street nerves with an improvement in sales in China and as several brokerages predicted a boost from its services business and the launch of new iPhones in the second half of 2019. If the gains hold, Apple would be within touching distance of again topping $1 trillion in market value, just shy of the world's most valuable company, Microsoft Corp. Apple had 4.53 billion shares outstanding at the end of last quarter. In the earnings report after markets closed on Tuesday, Apple said services revenue rose 12.6 per cent to $11.5 billion in the three months to June, offsetting a 12 per cent fall in global iPhone sales to just under $26 billion. "We were especially pleased with the double-digit increase in Services driven by strong growth from the App Store in China," Chief Executive Tim Cook told a conference call after the results. JP Morgan analyst Samik Chatterjee, who rates the stock 'Overweight', said he believed Apple's transformation of the services business and a strong product cycle are strong reasons to own its shares. At least seven of the 43 brokerages who rate Apple shares raised their price targets for the stock, with Citigroup raising its price target by $45 to $250. The median of current recommendations is $217. In mainland China, Cook said the overall number of Apple device users had grown in the fiscal third quarter, driving a more rise in services sales by the company in the world's second-largest economy. Concerns about a slowdown in China, where iPhone sales continue to decline, have helped keep Apple's share price below last year's highs. But it is still up 50 per cent in value from lows hit in a market sell-off at the end of last year. "If there is a China slowdown, clearly no one told Tim about it," Evercore analyst Amit Daryanani wrote in a note.

Apple woos investors with China gain, market value nears $1 trillion

<a href="https://www.wionews.com/south-asia/maryam-nawazs-interview-forcefully-taken-off-air-alleges-pakistan-scribe-235179">Maryam Nawaz</a>, the daughter of jailed former Pakistan prime minister Nawaz Sharif, is scheduled to appear before the <a href="https://www.wionews.com/south-asia/former-pakistan-prime-minister-shahid-khaqan-abbasi-arrested-in-lng-scam-236867">National Accountability Bureau</a> (NAB) in Lahore today in connection with the Chaudhry Sugar Mills case.

The accountability watchdog had also summoned Maryam's siblings, Hassan Nawaz, and Hussain Nawaz, on suspicion of being stakeholders in the Chaudhry Sugar Mills, Dunya News reported.

The evidence against the owners of the sugar mills came to the fore during the investigation against Shehbaz Sharif and his sons Hamza and Salman in money laundering and income beyond means case.

Moreover, the accountability watchdog has also ordered Abbas Sharif`s son Abdul Aziz to appear before the investigation team.

Pakistan Muslim League-Nawaz president Shehbaz Sharif is also likely to be called by the bureau in the same case.

The NAB has purportedly traced numerous telegraphic transfers (TTs) worth millions of rupees by the Sharif family including Maryam.

The NAB has launched another investigation against members of the Sharif family, and in this regard, the bureau, for the first time, summoned Yousuf Abbas on July 23 and recorded his statement.

Maryam Nawaz, the daughter of jailed former Pakistan prime minister Nawaz Sharif, is scheduled to appear before the National Accountability Bureau (NAB) in Lahore today in connection with the Chaudhry Sugar Mills case.

Maryam Nawaz, the daughter of jailed former Pakistan prime minister Nawaz Sharif, is scheduled to appear before the National Accountability Bureau (NAB) in Lahore today in connection with the Chaudhry Sugar Mills case. The accountability watchdog had also summoned Maryam's siblings, Hassan Nawaz, and Hussain Nawaz, on suspicion of being stakeholders in the Chaudhry Sugar Mills, Dunya News reported. The evidence against the owners of the sugar mills came to the fore during the investigation against Shehbaz Sharif and his sons Hamza and Salman in money laundering and income beyond means case. Moreover, the accountability watchdog has also ordered Abbas Sharif`s son Abdul Aziz to appear before the investigation team. Pakistan Muslim League-Nawaz president Shehbaz Sharif is also likely to be called by the bureau in the same case. The NAB has purportedly traced numerous telegraphic transfers (TTs) worth millions of rupees by the Sharif family including Maryam. The NAB has launched another investigation against members of the Sharif family, and in this regard, the bureau, for the first time, summoned Yousuf Abbas on July 23 and recorded his statement.

Maryam Nawaz to appear before NAB in Chaudhry Sugar Mills case

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