Business

24 June 2021; MEMO: US Secretary of State Antony Blinken said on Wednesday that Russia should not use energy as a weapon, Anadolu reports.

On the Nord Stream 2 gas pipeline project, which is set to increase Russian gas supply to Europe, especially Germany, Blinken told reporters he sees the project as a threat to European energy security.

24 June 2021; MEMO: Palestinians in Gaza are showcasing innovative creations which will help improve their lives under siege and overcome the limitation of the closures imposed on them by the occupation.

An exhibition opened by Shuaa Foundation in Gaza City yesterday aims to provide solutions which overcome the lack of certain materials which the Israeli occupation forbids from entering the Strip.

24 June 2021; MEMO: Peace in Libya will benefit neighbouring Algeria to the tune of $30 billion by 2025, the United Nations Economic and Social Commission for Western Asia (ESCWA)has estimated.

In a statement issued on Tuesday, the ESCWA said that according to a study it conducted entitled 'Benefits of Peace in Libya: Neighbouring Countries and Beyond', the economic gains in Egypt will reach nearly $100 billion, $30 billion in Algeria, and nearly $22 billion in Sudan by 2025.

Mumbai, Jun 24 (PTI) Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a USD 15 billion deal.

Reliance Chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders.

23 June 2021; MEMO: Iran said today that Washington had agreed to remove all sanctions on Iran's oil and shipping, and take some senior figures off a blacklist, at talks to revive Tehran's 2015 nuclear deal with global powers which are now on a pause, Reuters reported.

23 June 2021; MEMO: The Investment Corporation of Dubai, the principal investment arm of the government of Dubai, incurred 15.5 billion dirhams ($4.2 billion) in losses in 2020, new data revealed yesterday.

Statistics published by the corporation showed that revenues fell 40.3 per cent in 2020 on an annual basis to 136.1 billion dirhams ($37.1 billion).

London, Jun 23 (AP-PTI) Five years ago Wednesday, Britons voted in a referendum that was meant to bring certainty to the UK's unsettled relationship with its European neighbors.

Fat chance.

Voters' decision on June 23, 2016 was narrow but clear: By 52% to 48%, they chose to leave the European Union. It took over four years to actually make the break and the former partners are still bickering, like many divorced couples, over money and trust.

22 June 2021; MEMO: The six countries forming the Gulf Cooperation Council (GCC) will remain heavily dependent on hydrocarbon production for at least the next ten years, despite efforts to diversify their economies, Moody's said yesterday.

21 June 2021; MEMO: Turkey and Rwanda are apparently keen to explore cooperation opportunities in the financial sector, Anadolu has reported. The vehicle for this would be Rwanda's major initiative, the Kigali International Financial Centre (KIFC).

United Nations, Jun 21 (PTI) India received USD 64 billion in Foreign Direct Investment in 2020, the fifth largest recipient of inflows in the world, according to a UN report which said the COVID-19 second wave in the country weighs heavily on the country's overall economic activities but its strong fundamentals provide optimism for the medium term.