Business

01 Apr 2021; MEMO: The unemployment rate among Saudi citizens dropped to 12.6 per cent from 14.9 per cent in the last quarter of 2020, the Kingdom's General Authority for Statistics (GASTAT) announced yesterday.

New Delhi, Mar 31 (PTI) The output of eight core sectors declined by 4.6 per cent in February, the steepest contraction in the last six months which experts said could drag the overall industrial production in the month into the negative territory.

All the key segments, including coal, crude oil, natural gas, and refinery products, witnessed a decline in production, according to the official data released on Wednesday.

New Delhi, Mar 31 (PTI) After raising cooking gas prices by Rs 125 per cylinder last month, state-owned oil firms on Wednesday announced a Rs 10 per cylinder cut in LPG rates on softening international oil prices.

A 14.2-kg LPG cylinder -- both for subsidised and market price users -- will cost Rs 809 from April 1 as against Rs 819 currently, Indian Oil Corporation (IOC) said in a statement.

Srinagar, Mar 31 (PTI) The PDP on Wednesday welcomed the "resumption" of trade relations between India and Pakistan, saying broadening the scope of engagement was pivotal for the restoration of durable peace in the subcontinent.

The reaction from the party came after Pakistan said it will buy sugar and cotton from India, a decision that will lead to a partial revival of bilateral trade relations which were suspended after the August 5, 2019 decision of India to revoke the special status of Jammu and Kashmir and bifurcate it into union territories.

New Delhi, Apr 1 (PTI) In the first reduction in rate in two months, jet fuel or ATF price on Thursday was cut by 3 per cent in line with softening international crude oil prices.

Aviation turbine fuel (ATF) price was reduced by Rs 1,887 per kilolitre, or 3 per cent, to Rs 58,374.16 per kl in the national capital, according to a price notification of state-owned fuel retailers.

This is the first reduction in rates after four rounds of increase since February.

30 Mar 2021; MEMO: Turkish and Azerbaijani nationals will be able to travel passport-free between the two countries from Thursday, Anadolu Agency reported Turkey's Foreign Ministry said yesterday.

According to the report, citizens of Turkey and Azerbaijan travelling directly between the two countries will be able to do so without needing their passports, using their ID cards instead.

30 Mar 2021; MEMO: Pakistan and a Turkish shipbuilder yesterday signed two contracts worth $33.46 million for the procurement of four azimuth stern drive (ASD) tugboats (LNG compatible) and two pilot boats, Pakistan Today reports.

The agreements were signed between Port Qasim Authority (PQA) and Sanmar Shipyards, according to a statement issued by the Ministry of Maritime Affairs.

Sanmar, Turkey's leading tugboat builder will deliver the vessels within 12 months.

31 Mar 2021; MEMO: Saudi Arabia's Crown Prince Mohammed Bin Salman called Pakistani Prime Minister Imran Khan on Monday to wish him a speedy recovery from Covid-19 and discuss mutual relations, the Saudi Press Agency has reported. Khan tested positive for the virus on 20 March and has been in self-isolation at home ever since.

31 Mar 2021; MEMO: An Iranian government spokesman defended on Tuesday the signing of a 25-year cooperation agreement between Iran and China, saying the agreement is not directed against any third country.

31 Mar 2021; MEMO: Around 200,000 animals are likely to die after being stuck in the Suez Canal bottleneck without enough food or water to last them the rest of the journey.

Gabrile Paun, EU director for the NGO Animals International, has said that the worst maritime animal welfare tragedy in history could be unavoidable.