Business

New Delhi, Nov 13 (PTI) India's exports fell 5.12 per cent to USD 24.89 billion in October after recording positive growth in September, on account of drop in shipments of petroleum products, gems and jewellery, leather and engineering goods, according to government data released on Friday.

Trade deficit in October narrowed to USD 8.71 billion as against USD 11.75 billion, as imports also fell 11.53 per cent to USD 33.6 billion during the month under review.

13 Nov 2020; MEMO: Moscow has revealed a draft agreement with Khartoum on Wednesday that allows for establishing a naval logistics base on the Sudanese coast in the Red Sea.

The proposed naval base will be able to accommodate up to 300 soldiers and employees as stipulated in the agreement, in addition to ships equipped with nuclear gear "taking into account nuclear and environmental safety requirements", provided that no more than four ships would anchor simultaneously.

13 Nov 2020; MEMO: Egypt's central bank yesterday announced that the sale of 21 billion Egyptians pounds ($1.3 billion) worth of treasury bills has been launched to cover the country's budget deficit.

In an official statement, the bank said that the value of the first offering amounted to nine billion Egyptian pounds ($575.3 million) for 182 days, and the second is 12 billion Egyptian pounds ($767.1 million) for 357 days.

13 Nov 2020; MEMO: Emirates Airline revealed yesterday that it had recorded losses for the first time in more than three decades due to the repercussions of the coronavirus which brought air travel to a "literal standstill".

The Dubai based airline said it had suffered a loss of $3.4 billion during the period from March until September.

New Delhi, Nov 12 (PTI) Driven by rising food prices, retail inflation inched up to 7.61 per cent in October, remaining above the comfort level of the Reserve Bank.

According to the Consumer Price Index (CPI) data released by the government on Thursday, inflation stood at 7.27 per cent in September 2020. It was 4.62 per cent in October 2019.

The rise in general inflation was mainly on account of elevated food prices.

12 Nov 2020; MEMO: Turkey yesterday extended the gas exploration mission of Oruç Reis seismic research vessel and two other ships in the Eastern Mediterranean until 23 November.

The Turkish navy said in a message on the international maritime alert system NAVTEX that Oruç Reis' mission along with two other vessels, the Ataman and Cengiz Han, in the Eastern Mediterranean region has been extended from 14 to 23 November.

12 Nov 2020; MEMO: A delegation of Israeli settlers from illegal settlements in the occupied West Bank have met with UAE businessmen in Dubai to discuss trade and cooperation opportunities, Israeli media revealed on Wednesday.

The settlers' delegation arrived in the UAE on Sunday for a five-day visit. Yossi Dagan, the head of the settlement council which represents settlements in the northern occupied West Bank, led the delegation.

12 Nov 2020; MEMO: Denmark has charged a Danish company over its alleged violation of the European Union's sanctions on the Syrian regime and its ally Russia, after it was found to have conducted numerous deals with them over the past few years.

Kanpur: Crowd surges on the road adjacent to Lal Bunglow in Jajmau here. This is truly because of the festival purchasing.

On the road turning to the main market through Gurudwara side becomes inaccessible in the evening. 

This is because of the electronic items shops have extended its frontage for display and this contracts the width so the jam remains inevitable.

One said: If the road does not look crowded the people do not take the value of the festival in the true feeling.

New Delhi, Nov 12 (PTI) Congress leader Rahul Gandhi on Thursday targeted the government over the state of the economy, claiming the country has entered into a recession for the first time in history due to the policies of Prime Minister Narendra Modi.

"India has entered into recession for the first time in history. Mr Modi's actions have turned India's strength into its weakness," he said on Twitter.