Business

09 Mar 2021; MEMO: The Biden administration has revoked a sanctions waiver on Israeli mining magnate Dan Gertler that was issued in the last days of the Trump administration. Reimposing sanctions, the US Treasury said that the exemption was "inconsistent with America's strong foreign policy interests in combating corruption around the world," specifically in the Democratic Republic of the Congo.

New Delhi, Mar 8 (PTI) The Opposition's continuous uproar and persistent demand for a discussion on the increase in petrol, diesel and LPG prices on Monday led to washout of the day's proceedings in Rajya Sabha.

The upper house which met for the first time in the second part of the Budget Session saw repeated adjournments as the Opposition continued protests inside the House.

New Delhi, Mar 8 (PTI) The economy of Delhi is expected to contract by 5.68 per cent in real terms while the per capital income is projected to fall to Rs 3.54 lakh in the current financial year due to the impact of the pandemic, according to Delhi Economic Survey 2020-21.

However, the advance estimate of the gross state domestic product (GSDP) of Delhi at current price during 2020-21 is Rs 7,98,310 crore, showing a contraction of 3.92 per cent over the previous year.

08 Mar 2021; MEMO: Russian Foreign Minister Sergey Lavrov will today embark on a four-day official visit to the Gulf region which will include visits to the United Arab Emirates (UAE), Saudi Arabia, and Qatar, his ministry announced yesterday.

08 Mar 2021; MEMO: Israel has almost emerged from its COVID-19 closures, Prime Minister Benjamin Netanyahu, who is on the campaign trail, said on Sunday as restaurants reopened under an exit plan fuelled by fast-paced vaccinations, reported Reuters.

But health officials cautioned that rising contagions could trigger another lockdown – a possible dampener on Netanyahu's hope of parlaying his pandemic policies to victory in a March 23 ballot.

New Delhi, Mar 7 (PTI) British oil firm Cairn Energy plc on Sunday said its shareholders, including top financial institutions of the world, expect the use of the company's "strong powers of enforcement" to recover USD 1.4 billion from the Indian government should it not keep its word of honouring international arbitration tribunal awards on retrospective taxes.

Beijing, Mar 7 (AP-PTI) China's exports surged 60.6 per cent over a year earlier in the first two months of 2021, after factories reopened and global demand started to recover from the coronavirus pandemic.

Exports rose to USD 468.9 billion, customs data showed Sunday, accelerating from December's 18.1 per cent gain and nearly double the growth expected by forecasters. Imports jumped 22.2 per cent to USD 365.6 billion, up from December's 6.5 per cent increase.

New Delhi, Mar 5 (PTI) International oil prices rose after OPEC and its allies ignored India's plea to ease production control, with Saudi Arabia asking New Delhi to instead use oil it bought at rock bottom rates last year.

Brent crude, the most widely used benchmark, on Friday rose nearly 1 per cent to USD 67.44 a barrel after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, agreed not to increase supplies in April awaiting more substantial recovery in demand.

05 Mar 2021; MEMO: Egyptian subsidies on petroleum products dropped by about 45 per cent in the first half of the current financial year 2020-21, the petroleum minister announced yesterday.

Tarek El-Molla said that the petroleum subsidies had fallen to 8.4 billion Egyptian pounds ($537.8 million) in the first half of the current financial year, compared to 15.25 billion Egyptian pounds ($971.7 million) last financial year.

04 Mar 2021; MEMO: The US has called on Saudi Arabia to give up its status as a "developing" country at the World Trade Organisation (WTO), which confers upon the Kingdom special treatment in economic negotiations.

"Saudi Arabia is a wealthy and influential player in the global economy," said Washington in a statement at the WTO. The Geneva-based organisation is carrying out its third review of the trade policies and practices of the Kingdom, a process due to end tomorrow.