Business

26 Jan 2022; MEMO: Mauritania and China yesterday signed an agreement under which China wrote off part of its debts owed by the Mauritanian government.

The agreement was signed in the capital Nouakchott by Mauritanian Minister of Economic Affairs and Promotion of Productive Sectors Ousmane Mamoudou Kane, and the Chinese Ambassador Li Bai Jun, according to a statement from the Ministry of Economic Affairs.

26 Jan 2022; MEMO: The United Arab Emirates, on Wednesday, said it was assessing risks that funds for banned weapons could be funnelled through the regional commercial and trade hub, part of its efforts to avoid making a dirty money watch-list ahead of a review in March, Reuters reports.

Mumbai, Jan 27 (PTI) The rupee declined 41 paise to 75.19 against the US dollar in opening trade on Thursday, tracking the strength of the American currency after hawkish US Fed policy stance.

Forex traders said muted domestic equities, sustained foreign fund outflows and firm crude oil prices also weighed on the local unit.

At the interbank foreign exchange, the rupee opened weak at 75.18 against the US dollar, then fell further to 75.19, registering a decline of 41 paise from the last close.

On Tuesday, the rupee settled at 74.78 against the US dollar.

Beijing, Jan 27 (AP) Asian stock markets tumbled by unusually wide margins Thursday after the Federal Reserve indicated it plans to start raising interest rates soon to cool inflation.

Tokyo's market benchmark fell more than 3%. Hong Kong and Seoul lost more than 2%.

26 Jan 2022; MEMO: Savvy Gaming Group (SGG) which is backed by Saudi Arabia's Public Investment Fund has acquired two of the largest e-sports brands for a combined $1.5 billion. ESL, a gaming event organiser, and tournament platform FACEIT will merge to form ESL FACEIT Group, according to a report first published by German site Handelsblatt.

26 Jan 2022; MEMO: Saudi Arabia has lifted the unofficial ban on Turkish goods, which came into place four years ago, Al-Khaleej Online reported yesterday.

As a result of the ban, Turkish exports to Saudi Arabia declined from $2.7 billion in 2018 to $189 million in 2021.

24 Jan 2022; MEMO: A delegation of senior Taliban officials and representatives has travelled to Norway to hold talks in an effort to free $10 billion of Afghanistan's frozen assets.

The delegation, led by acting Foreign Minister, Amir Khan Muttaqi, arrived in Norway's capital, Oslo, yesterday to begin the three days of talks with Western government officials and Afghan civil society representatives.

A ship spotter in Istanbul says Russia's possible war in Ukraine would be reflected in fewer ships going south through the Bosphorus, Al Jazeera reports.

"Every day, I follow any military ships going to Ukraine, to see who is sending what message," geopolitical analyst and ship spotter, Yoruk Isik said.

According to the report, Istanbul ship-spotter, at the age of 50, monitors moves for war.

25 Jan 2022; MEMO: Some Turkish manufacturing companies have halted production temporarily after Iran cut gas flows last week for up to 10 days due to a technical problem, Reuters reports.

Companies affected include car parts maker Ege Endustri, cardboard manufacturer Kartonsan and defence and automotive parts maker, Katmerciler.

25 Jan 2022; MEMO: The US is ready for direct talks with Iran about its nuclear programme, a spokesperson for the State Department said on Monday.

"We are prepared to meet directly," explained the official. "We have long held the position that it would be more productive to engage with Iran directly, on both JCPOA negotiations and other issues." The Joint Comprehensive Plan of Action (JCPOA) was signed by world powers and Iran in 2015, although Donald Trump pulled the US out in 2018.