Beijing will push for the establishment of a Free Trade Area of the Asia Pacific (FTAAP) and further lift restrictions on foreign investment, China’s President Xi Jinping told business leaders from the Asia Pacific on Wednesday morning in Manila, the Philippines. Source: SCMP
- Iran has recently quadrupled its uranium production, a spokesperson for the nation’s atomic energy agency says.
- The nation has stopped complying with key parts of the 2015 Iran nuclear deal.
- U.S. industrial production fell in April, dragged by a big drop in factory output as production of autos and auto parts continued to slide.
- The Federal Reserve says industrial output — reflecting total production at factories, utilities and mines — dropped 0.5% in April.
- Industrial production also fell 0.5% in February.
Turkey is preparing for potential U.S. sanctions over its purchase of Russian S-400 surface-to-air missile defense systems as Ankara considers the acquisition a “done deal,” Defense Minister Hulusi Akar said on Tuesday. Speaking to reporters, Akar said the U.S. was still trying to dissuade Turkey from purchasing the Russian-made missiles but Ankara was determined to go through with the deal. Source: Daily Sabah
