Business

16 Feb 2022; MEMO: The United Arab Emirates-based Dragon Oil made one of the largest oil discoveries of the past 20 years in the Gulf of Suez, international media reports said, citing the Egyptian Petroleum Ministry, and Anadolu News Agency reports.

The Ministry said the field could contain reserves of around 100 million barrels.

The 2015 nuclear deal between Iran and world powers has become an "empty shell", the Secretary of Iran's Supreme National Security Council said on Twitter on Wednesday, and Reuters reports.

"The United States and Europe failed to meet their obligations under the JCPOA. The deal has now become an empty shell for Iran in the economic sphere and the lifting of sanctions. There will be no negotiations beyond the nuclear deal with a non-compliant America and a passive Europe," Shamkhani said.

16 Feb 2022; MEMO: Ukrainian President, Volodymyr Zelensky, is in favour of a trilateral meeting with Russian President, Vladimir Putin and Turkey, President Recep Tayyip Erdogan said Tuesday, Turkish media reports.

According to the report, the President said such a meeting would take place either in Istanbul or Ankara.

"In our meeting with Zelensky, he expressed that he is open to a trilateral meeting between Putin, Zelensky and Erdoğan," the President said.

Ankara has offered to mediate talks between two countries.

17 Feb 2022; MEMO: French Foreign Minister Jean-Yves Le Drian said yesterday that a decision on salvaging Iran's 2015 nuclear deal was just days away and that it was now up to Tehran to make the political choice.

Indirect talks between Iran and the United States on reviving the nuclear deal resumed last week, after a ten-day break.

Officials from Britain, France, Germany and Russia have been shuttling between the two sides in an effort to bridge the gaps.

New Delhi, Feb 16 (PTI) The Income-tax department has conducted searches at multiple premises of Chinese telecom company Huawei in the country as part of a tax evasion investigation, official sources said on Wednesday.

The raids were launched at the company's premises in Delhi, Gurugram (Haryana) and Bengaluru in Karnataka on Tuesday.

Sources said the officials looked at financial documents, account books and company records as part of a tax evasion investigation against the company, its Indian businesses and overseas transactions.

Washington, Feb 17 (PTI) The US has hoped that India, which is committed to a rules-based international order, will stand by its side in case of a Russian invasion of Ukraine, which as per the Biden administration seems imminent with Moscow adding 7,000 troops to Ukraine's border in recent days

State Department Spokesperson Ned Price said on Wednesday that there was a discussion on Russia and Ukraine during the recently concluded Quad ministerial in Melbourne that included foreign ministers from Australia, India, Japan and the United States

16 Feb 2022; MEMO: The World Bank will lend Tunisia about $400 million to finance social reforms, the government said yesterday, Reuters reports.

After a meeting with Prime Minister Najla Bouden, the World Bank Vice President Ferid Belhaj said the Bank was ready to provide the necessary funds for Tunisia to implement economic reforms.

New Delhi, Feb 16 (PTI) Jet fuel prices on Wednesday soared to record high levels across the country after rates were increased by 5.2 per cent in line with a rise in international oil prices.

This is the fourth hike in jet fuel or Aviation Turbine Fuel (ATF) prices in less than two months following a spike in global oil prices but petrol and diesel prices remained unchanged for a record 103rd day in a row, coinciding with electioneering to elect new governments in states like Uttar Pradesh and Punjab.

Tokyo, Feb 14 (AP) The Bank of Japan made an offer for unlimited government bond purchases Monday, moving to curb a surge in long-term interest rates in the world's third-largest economy.

Japan's central bank set the interest rate for purchasing 10-year government bonds at 0.25 per cent.

The market rate had risen close to that level recently on speculation the BOJ might begin reeling back its ultra-loose monetary policy in line with other central banks like the US Federal Reserve.

Bangkok, Feb 15 (AP) Myanmar will not participate in this week's meetings in Cambodia of foreign ministers from the Association of Southeast Asian Nations, spurning an invitation to send a non-political representative instead of its chief diplomat, its government said Monday.

Cambodia, the current ASEAN chair, said earlier this month that members of the regional group had failed to reach a consensus on inviting Myanmar Foreign Minister Wunna Maung Lwin to its meetings on Thursday and Friday in Cambodia's capital, Phnom Penh.