Algeria suspends grain agency head in corruption probe — govt sources

A combine harvester is used to harvest wheat in a field west of Buenos Aires, December 18, 2012. (Reuters)
Updated 15 July 2019

Algeria suspends grain agency head in corruption probe — govt sources

  • Belabdi is accused of “inflating bills and making false statements”

ALGIERS: Algeria’s government has suspended the head of grains agency OAIC over corruption allegations, sources close to the prime minister’s office said, creating uncertainty for traders who supply one of the world’s biggest cereal importers.
The decision to suspend Mohamed Belabdi pending the completion of investigations was taken at a government meeting chaired by Prime Minister Noureddine Bedoui, the sources told Reuters on Monday.
The government also decided to shut a total of 45 mills in relation to the alleged corruption case.
Belabdi is accused of “inflating bills and making false statements,” one of the sources said.
OAIC did not answer telephone calls from Reuters seeking comment.
Algeria has placed several former senior officials in custody since mass protests broke out earlier this year demanding the removal of the ruling elite and the prosecution of people suspected of involvement in corruption.
OAIC has a monopoly over wheat imports and purchases 7-8 million tons of the cereal annually through international tenders in order to supply flour mills.
French supplies usually account for the majority of Algeria’s wheat imports, making the North African country the top export destination for French wheat.
European traders said it was too early to tell if the corruption probe would alter the functioning of OAIC.
But the suspension of Belabdi comes as traders are already anticipating possible changes in Algeria’s import policy due to budgetary constraints and efforts by top wheat exporter Russia to gain access to the Algerian market.
“This shows they are continuing to clean things up and to keep a close eye on spending,” one European grain trader said of the probe into OAIC.


White House says Trump regrets not raising tariffs higher

US President Donald Trump arrives at the G7 summit in Biarritz, France, on Sunday. Trump had been trying to use the conference to rally global leaders to do more to stimulate their economies, as fears rise of a potential slowdown in the US ahead of his reelection. (AP)
Updated 26 August 2019

White House says Trump regrets not raising tariffs higher

  • President’s comments appear at first to mark a rare moment of self-reflection by the US leader

TOKYO: President Donald Trump said Sunday that he had second thoughts about escalating the trade war with China, but the White House later reversed that message saying the president was misinterpreted and that his only regret in hiking tariffs is that he didn’t raise them higher. Trump faced a tense reception from world leaders meeting amid mounting anxiety of a global economic slowdown at the Group of Seven summit in France. During a breakfast meeting with British Prime Minister Boris Johnson, Trump suggested he had qualms about the spiraling conflict. “Yeah. For sure,” Trump told reporters when asked if he has second thoughts about escalating the dispute, adding he has “second thoughts about everything.”
But hours later, White House press secretary Stephanie Grisham issued a statement saying Trump’s comments about US tariffs on China were “greatly misinterpreted.”
She said Trump only responded “in the affirmative — because he regrets not raising the tariffs higher.” The comments appeared at first to mark a rare moment of self-reflection by the famously hard-nosed leader. But the later reversal fit a pattern for Trump in recoiling from statements he believes suggest weakness.

HIGHLIGHTS

• President Donald Trump faced a tense reception from world leaders meeting amid mounting anxiety of a global economic slowdown at the Group of Seven summit in France.

• White House said comments about US tariffs on China were ‘greatly misinterpreted.’

Trump had been trying to use the conference to rally global leaders to do more to stimulate their economies, as fears rise of a potential slowdown in the US ahead of his reelection. Trump’s counterparts, including Johnson, are trying to convince him to back off his trade wars with China and other countries, which they see as contributing to the economic weakening.

US-Japan agreement
Trump and Japan’s Prime Minister Shinzo Abe announced on Sunday a deal in principle on a major bilateral trade deal.
“It’s a very big transaction,” Trump said after talks with Abe on the sidelines of the G7 summit.
“Billions and billions of dollars,” he said. “It involves agriculture, it involves e-commerce. It involves many things. We’ve agreed in principle.”

Amazon fires
Also on Sunday, French President Emmanuel Macron said that world leaders at the G7 summit have agreed to help the countries affected by the huge wildfires ravaging the Amazon rainforest as soon as possible.
“We are all agreed on helping those countries which have been hit by the fires as fast as possible,” he told journalists.