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Business & Economy

India: French Ambassador meets UP CM in Lucknow

Lucknow, Nov 25 (PTI) Ambassador of France to India Emmanuel Lenain on Wednesday called upon Uttar Pradesh Chief Minister Yogi Adityanath at his official residence here and had a courtesy meeting, the state government said in a statement issued here.

The ambassador said France wants to increase cooperation with India, especially with Uttar Pradesh.

Adityanath, while inviting France to invest in Uttar Pradesh, said the scope of investment in the state is "immense".

UK expected to see worst recession in over 300 years: senior official

LONDON, Nov. 25 (Xinhua) -- The British economy is forecast to shrink by 11.3 percent this year, the worst recession in more than 300 years in the country as a result of the coronavirus crisis, British Chancellor of the Exchequer Rishi Sunak said Wednesday.

The chancellor told British lawmakers that the Office of Budget of Responsibility (OBR) did not expect the economy to return to its pre-coronavirus levels until the end of 2022.

Picture of US economy is worrisome as virus inflicts damage

WASHINGTON (AP) — Gripped by the accelerating viral outbreak, the U.S. economy is under pressure from persistent layoffs, diminished income and nervous consumers, whose spending is needed to drive a recovery from the pandemic.

A flurry of data released Wednesday suggested that the spread of the virus is intensifying the threats to an economy still struggling to recover from the deep recession that struck in early spring.

Iran's Supreme leader dismisses talks with US as Iran looks to post-Trump future

25 Nov 2020; MEMO: Iran's supreme leader dismissed the prospect of new negotiations with the West on Tuesday, even as the Tehran government spoke optimistically about the return of foreign companies in "the absence of Trump" and his sanctions.

President-elect Joe Biden's victory has raised the possibility that the United States could rejoin a deal Iran reached with world powers in 2015, under which sanctions were lifted in return for curbs on Iran's nuclear programme.

Russia, Iran discuss 're-commitment' to nuclear deal

25 Nov 2020; MEMO: Russian Foreign Minister, Sergey Lavrov, and his Iranian counterpart, Mohammad Javad Zarif, yesterday said their countries were committed "to ensuring the prompt return of all participants to fully observing obligations laid out in the 2015 Iran nuclear deal."

In a phone conversation, the officials also discussed trade and political relations, as well as Syria and Nagorno-Karabakh, according to Reuters.

Iraq seeks $2bn in upfront payment for crude to face financial crisis

25 Nov 2020; MEMO: Iraq asked oil importers to pay $2 billion upfront payments for crude supplies as part of long-term contracts, as a result of its suffocating financial crisis.

Bloomberg reported that Iraq is undergoing a severe financial crisis following the fall in global oil prices, adding that authorities were forced to cut production under an agreement with the OPEC+ group to sustain global oil prices.

Sputnik V vaccine to cost less than $10 for international market

25 Nov 2020, PTI: RDIF continues expanding existing agreements with international manufacturing partners to produce the vaccine for more than 500 million people in 2021 MOSCOW, Nov. 24, 2020 /PRNewswire/ -- The cost of one dose of the Sputnik V vaccine for international markets will be less than 10. Sputnik V is a two dose vaccine.

Therefore, Sputnik V will be two or more times cheaper than mRNA vaccines with similar efficacy levels.[1] Vaccination with Sputnik V will be free of charge for Russian citizens.

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