Business

London, Jan 13 (PTI) The UK government on Thursday announced the launch of free trade agreement (FTA) negotiations with India, describing it as a "golden opportunity" to put British businesses at the "front of the queue" of the Indian economy.

British Prime Minister Boris Johnson said an FTA would take the country's historic partnership with India to the next level, and highlighted Scotch whisky, financial services and cutting-edge renewable technology among some of the key sectors set to benefit.

11 Jan 2022; MEMO: Campaign groups have claimed a "huge victory" against Israeli weapons manufacturer Elbit Systems, which they claim has been forced to shut one of its UK branches following an 18-month long sustained direct protest by Palestine Action.

Elbit sold off its Ferranti Power and Control business in Manchester to TT Electronics for $12 million in a deal which the Israeli firm completed, apparently, as part of its restructuring of its UK operations.

11 Jan 2022; MEMO: Qatar and Saudi Arabia have halted a legal dispute at the World Trade Organisation (WTO) over a case of content piracy, in the latest step to reinforce their reconciliation.

The dispute was over the alleged piracy of content produced by the Qatari-owned broadcaster, beIN – the sports and entertainment channel which owns broadcasting rights for popular world sporting events such as the Premier League and FIFA – that was committed by beoutQ, the commercial-scale channel that carried the pirated broadcasts.

06 Jan 2022; MEMO: The first train carrying goods from Pakistan to Turkey arrived in Istanbul yesterday, completing the first such journey in a decade.

The Islamabad-Tehran-Istanbul (ITI) cargo train – made up of eight wagons with a capacity of 22 tonnes – started its journey from Islamabad on 21 December and travelled 5,981 kilometres. It is hoped the new link will boost trade between the three countries.

10 Jan 2022; MEMO: The European Union yesterday informed Iraq that it had been removed from the list of countries at high risk of money laundering and terror financing countries.

The Iraqi Foreign Ministry explained in a statement that an EU delegation had delivered a letter to Prime Minister Mustafa Al-Kadhimi announcing that Iraq had been removed from the commission's list of countries with high-risk money laundering and terror financing.

06 Jan 2022; MEMO: Iran says South Korea is "obliged" to release its frozen assets, and that US sanctions cannot justify debt non-payment, Anadolu News Agency reports.

Iran's Deputy Foreign Minister, Ali Bagheri, made these remarks on Thursday during a meeting with his South Korean counterpart, Choi Jong-kun, on the sidelines of the ongoing nuclear deal talks in Vienna, according to state-run media citing the Foreign Ministry in Tehran.

07 Jan 2022; MEMO: Weapons manufactured by Turkey have proven their effectiveness in the field, Defence Minister Hulusi Akar said yesterday.

Speaking during the inauguration ceremony of a new facility for a national fighter development project in Ankara, Akar said these projects will enhance the continuous localisation plan in the technological, defence and security fields, and will raise Turkey's position in the technologies field.

07 Jan 2022; MEMO: Iranian Foreign Minister Hossein Amir Abdollahian said Tehran is ready to restore relations with Saudi Arabia at any time.

In an interview with Al Jazeera, Abdollahian described dialogue with Saudi Arabia as "positive and constructive", adding that within days Iranian representatives to the Organisation of Islamic Cooperation will return to Jeddah, which is a "positive step".

New Delhi, Jan 6 (PTI) India on Thursday said there was no "material change" in the situation that would allow holding of the stalled SAARC Summit, days after Pakistan reiterated its offer to host it.

Pakistan Foreign Minister Shah Mahmood Qureshi on Monday said Islamabad was ready to host the summit and that India could attend it virtually if it does not want to participate in-person.

06 Jan 2022; MEMO: Russia's Gazprom Export and Turkish state energy company BOTAS signed a four-year natural gas supply deal, Gazprom Export announced today.

The Russian company will send 5.75 billion cubic metres (bcm) of gas a year to BOTAS via the TurkStream pipeline effective on 1 January.

Various agreements were signed between Gazprom Export and BOTAS for natural gas shipments on 30 December, according to Gazprom Export.