Business

11 April 2022; MEMO: OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more, Reuters reports.

European Union officials held talks in Vienna with representatives of the Organisation of the Petroleum Exporting Countries amid calls for the group to increase output and as the EU considers potential sanctions on Russian oil.

New Delhi, Apr 11 (PTI) Tech titan Apple has begun production of iPhone 13 in India, bolstering India's vision of emerging as a manufacturing powerhouse.

The flagship product is being made at Apple's contract manufacturing partner Foxconn's facility, near Chennai, sources said.

New Delhi, Apr 11 (PTI) Hundreds of auto, taxi and cab drivers staged a protest at the Delhi secretariat on Monday demanding subsidy on CNG prices.

The also threatened to go on indefinite strike from April 18 if their demand is not met. The protest was held under the aegis of Delhi Auto Rickshaw Sangh.

However, many auto, taxis and cabs were seen plying on city roads despite the protest.

10 April 2022; MEMO: Egypt's annual urban consumer price inflation accelerated in March to 10.5%, its highest in nearly three years and faster than analysts had expected, data from the state statistics agency CAPMAS showed on Sunday, as reported by Reuters.

The inflation figure, up from 8.8% in February, was greater than a median forecast of 10% in a Reuters poll of 14 analysts.

10 April 2022; MEMO: Kuwait has vowed support to cash-strapped Lebanon, the Lebanese government said on Sunday, reported Anadolu Agency.

Lebanese Prime Minister Najib Mikati received a phone call from Kuwaiti Foreign Minister Sheikh Ahmad Nasser Al-Mohammad Al-Sabah.

A statement issued by Mikati's office said Sheikh Ahmed said Kuwait "will spare no efforts to support Lebanon and help it to bounce back."

10 April 2022; MEMO: The Saudi-led coalition in the ongoing war in Yemen has an outstanding payment to the US for the sum of $17 million. The debt remains unpaid more than three years after the US stopped some air support for the coalition.

10 April 2022; MEMO: Canada may move to lift its ban on arms exports to Turkey after the UK's decision to do so, Turkish Foreign Minister Mevlut Cavusoglu has said, as the war in Ukraine continues and Turkey's role in representing the NATO alliance in the region grows more prominent.

09 April 2022; MEMO: An Iranian newspaper reported that Iranian funds frozen in South Korea would be released in exchange for three US citizens of Iranian origin.

On Friday, Entekhab newspaper reported: "Three dual-citizen spies will be released in exchange for Iran regaining its frozen funds in Korea, amounting to $7 billion."

09 April 2022; MEMO: The Iraqi government reiterated on Friday that it owes $20 billion in foreign debts and $48 billion in internal debts, Jordanian news agency Petra reported.

Mazhar Mohammed Saleh, advisor for financial affairs to the Iraqi prime minister, said that 67 per cent of the internal debts ($48 billion) is currently deposited in the Central Bank, pointing out a plan to repay the debts in three years.

New Delhi, Apr 8 (PTI) The stock of Ruchi Soya Industries on Friday jumped over 8 per cent after listing of shares of the company pursuant to the Follow on Public Offer (FPO).

The stock jumped 7.77 per cent to Rs 882.55 on the BSE.