Business

Mumbai, Sep 11 (PTI) The country's foreign exchange reserves rose by USD 582 million to reach a lifetime high of USD 542.013 billion in the week ended September 4, RBI data showed on Friday.

In the previous week ended August 28, the reserves had surged by USD 3.883 billion to USD 541.431 billion.

In the reporting week, the foreign currency assets (FCA), a major component of the overall reserves, increased by USD 269 million to USD 498.362 billion, the data showed.

Washington, Sep 11 (PTI) US President Donald Trump on Thursday ruled out extending the September 15 deadline for Chinese video-sharing social networking platform TikTok to either change its ownership to an American company or shut it down.

In an executive order last month, Trump had set September 15 as the deadline for the Chinese app to either change its ownership to an American company or shut it down.

New Delhi, Sep 10 (PTI) After years of negotiations, India and Japan have inked a landmark agreement that will allow their militaries to access each other's bases for logistics support, a key development that comes in the backdrop of growing concerns over China's military muscle flexing in the region.

The acquisition and cross-servicing pact was signed by Defence Secretary Ajay Kumar and Japanese Ambassador Suzuki Satoshi, a defence ministry spokesperson said on Thursday.

New Delhi, Sep 11 (PTI) Noting that the current situation at their border is not in the interest of either side, India and China have agreed on a five-point roadmap including quick disengagement of troops and avoiding any action that could escalate tensions for resolving the four-month-long face-off in eastern Ladakh.

10 Sep 2020; MEMO: Egyptian authorities have demanded that no more licences for shops owned by Syrians be issued following direct orders from General Abdel Fattah Al-Sisi.

Al-Araby Al-Jadeed reports seeing an internal circular sent to governors and deputies by Local Development Minister Mahmoud Sharawi, stipulating they must have direct approval from the Interior Ministry to issue commercial licences to Syrians and be provided with a statement listing “the names of the Syrians”.

10 Sep 2020; MEMO: The Turkish lira hit a record low of 7.49 against the US dollar yesterday, under the impact of growing risk aversion, which increased selling pressures globally.

The record low brings losses against the US currency this year to nearly 21 per cent, putting it among the world’s worst performers.

10 Sep 2020; MEMO: Jordan has announced plans to conscript 25-29-year-olds into the army for a one-year period in an attempt to tackle rising unemployment in the country.

Plans for the scheme were officially agreed between Labour Minister Nidal Bataineh and Chairman of the Joint Chiefs of Staff for the Jordanian army Major General Yousef Huneiti, yesterday, under the supervision of Prime Minister Omar Razzaz.

10 Sep 2020; MEMO: Iraq’s Cabinet has approved loans granted by Saudi Arabia and China this week, further deepening its relations with the two states.

In the weekly Iraqi cabinet meeting on Tuesday, chaired by Prime Minister Mustafa Al-Kadhimi, it was agreed to approve the financial conditions for two loans granted by the Saudi Fund for Development.

Lucknow, Sep 10 (PTI) Samajwadi Party chief Akhilesh Yadav on Thursday accused the BJP government of selling the country's assets as well job opportunities for youths with privatisation.

He also hit out at the ruling dispensation over lathicharge on party protesters during 9baje9min' campaign on Wednesday night.

09 Sep 2020; MEMO: Israel’s largest lender Bank Hapoalim expects to start working with banks in the United Arab Emirates once the two Middle East states sign a normalisation agreement, its chief executive said on Wednesday.

The UAE and Israel are due to sign the agreement, brokered by the United States, on September 15 at a ceremony held by US President Donald Trump.