Business

13 April 2022; MEMO: Iraqi Prime Minister Mustafa Al-Kadhimi has instructed the security services to monitor and prosecute traders and price manipulators and hold them accountable, following the sharp rise in prices in local markets driven by the Ukrainian crisis, Anadolu reported.

13 April 2022; MEMO: EgyptAir announced yesterday that it was resuming daily flights from Cairo to Moscow's Domodedovo airport on Friday after resolving outstanding issues related to insurance with Russia, Anadolu reported.

Last February, EgyptAir halted flights to Moscow, following the Russian military intervention in Ukraine, without giving an explanation.

Washington, Apr 12 (PTI) India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, External Affairs Minister S Jaishankar has said.

Mumbai, Apr 12 (PTI) The rupee fell 23 paise to close at 76.14 (provisional) against the US dollar on Tuesday, tracking a strong American currency in the overseas market and a negative trend in domestic equities.

Forex traders said investors are trading on a cautious note as they await inflation data.

12 April 2022; MEMO: The private equity firm of Jared Kushner, the senior adviser and son-in-law to former US President, Donald Trump, received a $2 billion investment from Saudi Arabia's sovereign wealth fund last year after he and the Trump administration left the White House, despite the fund's panel stating that there were significant risks and that Kushner lacked experience.

11 April 2022; MEMO: Algeria intends to increase its natural gas exports to Italy by 50 per cent as part of a new deal expected to be signed today, Bloomberg reported.

According to the agency, the agreement is "non-public" and stipulates that "Algeria will increase its exports to Italy by 9 to 10 billion cubic meters per year by the end of 2022."

Italy received about 21 billion cubic meters of gas from Algeria in 2021, compared to about 29 billion cubic meters from Russia.

11 April 2022; MEMO: The Saudi Arabian Military Industries (SAMI), owned by the Kingdom's sovereign wealth Public Investment Fund (PIF), has signed a preliminary agreement with the world's largest aerospace company, Boeing, to enter a joint venture to expand the Saudi aviation sector.

11 April 2022; MEMO: Kuwait has raised the official selling prices (OSPs) for two crude grades it sells to Asia in May to record levels, a price document reviewed by Reuters showed today.

The producer has set May Kuwait Export Crude (KEC) price at $9.30 a barrel above the average of Oman/Dubai quotes, up $4.50 from the previous month.

It also raised the May Kuwait Super Light Crude (KSLC) OSP to $9.65 a barrel above Oman/Dubai quotes, up $3.70.

12 April 2022; MEMO: Iran yesterday questioned the United States' will to reaching an agreement to restore the 2015 nuclear agreement, citing unresolved differences; after a year of talks.

"We really don't know if we'll get a deal or not, because the United States hasn't shown the necessary will to reach an agreement," Iranian Foreign Ministry spokesman Saeed Khatibzadeh said.

"What remains are the decisions of Washington," he added.

"If we reach a good agreement, we will of course go to Vienna tomorrow," he said.

12 April 2022; MEMO: Old plastic bottles and other waste are being collected in Gaza and treated to use to make rugs.

Once collected, the plastic is treated, shredded and turned into small granules which are washed, dyed and dissolved to transform them into the necessary shape to allow for them to be woven into mats and rugs. The mats are then used in mosques, outdoor spaces and in people's homes.