Business

15 Aug 2018; DW: In an attempt to curb growing house prices, New Zealand has banned most foreigners from buying certain properties. Statistics show China and Australia are the biggest buyers, but Australia won't be subject to the ban.

New Zealand's parliament on Wednesday passed a law banning many non-resident foreigners from buying existing homes in the country.

The bill aims to stop New Zealanders being outbid by wealthy foreign buyers.

MOSCOW, August 15. /TASS/. Russian President Vladimir Putin will receive member of the Communist Party of China (CPC) Central Committee Political Bureau Yang Jiechi in his Sochi residence on Wednesday, August 15, Kremlin Spokesman Dmitry Peskov told reporters.

"The president will also receive member of the Communist Party of China (CPC) Central Committee Political Bureau Yang Jiechi, who is responsible for foreign affairs," he added.

BRUSSELS, August 15. /TASS/. The Joint Comprehensive Plan of Action (JCPOA) on the Iran nuclear program continues to exist after the US ceased to be a part of it, Russia's Permanent Representative to the EU Vladimir Chizhov told journalists on Wednesday, commenting on the measures taken by the EU to protect European businesses from US sanctions.

JERUSALEM, Aug. 15 (Xinhua) -- Israel reopens Gaza's main cargo crossing on Wednesday morning, a week after it was closed amidst a flare-up of violence.

The opening of the Kerem Shalom crossing after nearly two weeks was decided by Israeli Defense Minister Avigdor Lieberman and the Chief of General Staff Gadi Eisenkot, the military said in a statement.

"The Kerem Shalom crossing will be re-opened this morning for full activity," the statement read, adding that the fishing zone off the Gaza Strip will also be expanded to nine nautical miles (16.6 km).

TOKYO, Aug. 15 (Xinhua) -- Tokyo stocks closed lower Wednesday on growing concerns over the possibility of Turkey's retaliatory tariffs on U.S. imports amid heightening tensions between the two sides.

The 225-issue Nikkei Stock Average lost 151.86 points, or 0.68 percent, from Tuesday to finish the day at 22,204.22.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, dropped 12.92 points, or 0.76 percent, to close at 1,698.03.

BEIJING, Aug. 14 (Xinhua) -- China on Tuesday launched the World Trade Organization (WTO) dispute settlement procedure over U.S. safeguard measures on imported photovoltaic products and subsidies for its renewable energy products, the Ministry of Commerce said.

"As the U.S. measures severely damaged Chinese trade interests, China's choice to resort to the WTO dispute settlement mechanism is a necessary move to safeguard its legitimate rights and interests and multilateral trade rules," a spokesperson with the ministry said.

ANKARA, Aug. 15 (Xinhua) -- Turkey's President Tayyip Erdogan signed a decree to raise the tariffs on some U.S. imports including cars, alcohol and tobacco, an official report said on Wednesday.

According to the decree published in the official gazette, Turkey has imposed an extra 60-percent of tariffs on passenger cars, 70 percent on alcohol and 30 percent on tobacco. Tariffs on cosmetics, rice and coal were also increased.

The move was a response to Washington's "economic attack" on Turkey, the country's Vice President Fuat Oktay tweeted.

By Cansu Dikme and Merve Aydogan

ANKARA, 14 Aug 2018; AA: President Recep Tayyip Erdogan on Tuesday announced Turkey will boycott American electronic products.

The announcement came in his address to a symposium organized by the Foundation for Political, Economic and Social Research (SETA) on the 17th foundation anniversary of the ruling Justice and Development (AK) Party.

“We will boycott America's electronic products,” Erdogan said mentioning that Turkey would produce the better of every product bought with foreign currencies and export them.

MOSCOW, August 13. /TASS/. Russian President Vladimir Putin and his Iranian counterpart Hassan Rouhani have discussed Washington’s actions on the global scene, the situation in Syria and bilateral agreements on the sidelines of the Caspian Summit on August 12, Kremlin Spokesman Dmitry Peskov told reporters.

"The situation linked to Washington’s actions was discussed, as well as bilateral Russian-Iranian relations and the situation in Syria - there was a wide variety of issues on the agenda," Peskov said.

MOSCOW, August 13. /TASS/. Russian oil producers will boost crude production next year largely owing to the start of several greenfield projects, the Organization of Petroleum Exporting Countries (OPEC) said in its report on Monday.

"In 2019, Russian oil companies have the potential to increase production through green field development. Incremental production of oil, NGLs and condensate could come from several projects, such as Uvat, East-Siberian, Vankorneft, Messoyakha and Yamal LNG," OPEC said.