Business

Washington, Apr 22 (PTI) Indian-American business leader Ajay Banga is an exceptional candidate and he is uniquely equipped to lead the World Bank at such a critical moment, the US has said as the bank plans to formally announce his appointment as its president.

21 Apr 2023; MEMO: Russian President Vladimir Putin discussed the OPEC+ deal to cap oil production with the Crown Prince of Saudi Arabia, Mohammed bin Salman, in a telephone call on Friday, the Kremlin said, reports Reuters.

The two expressed satisfaction with the level of cooperation between the two countries to bring stability to the global oil market, the Kremlin said in a readout of the call.

Putin and the Crown Prince, who is widely known as MbS, have also forged close business relations.

20 Apr 2023; MEMO: Credit rating agency, Moody's, downgraded Israel's economic outlook from positive on Friday, citing the "deterioration of Israel's governance". The move comes despite efforts by Israeli President, Isaac Herzog, and Prime Minister, Benjamin Netanyahu, to persuade the New York based agency not to lower Israel's credit rating. Both are said to have held unsuccessful talks with senior Moody's executives.

19 Apr 2023; MEMO: Russia, on Wednesday, accused Ukraine of sabotaging the Black Sea grain deal by demanding bribes from ship owners to register new vessels and carry out inspections under the cover of a deal the United Nations hopes could ease a global food crisis, Reuters reports.

18 Apr 2023; MEMO: The Kuwait Investment Authority (KIA) has purchased the United Bank of Egypt, one of the most famous banks in the country, the Egypt Times reported.

According to the site, the bank was sold for approximately $660 million, with contracts due to be officially signed after the end of the Eid Al-Fitr holiday which is due to take place this weekend.

18 Apr 2023; MEMO: Iran and Saudi Arabia will reopen their embassies in each other's countries by 9 May, a senior Iranian diplomat said yesterday.

Alireza Enayati, director for Persian Gulf affairs at the Iranian Foreign Ministry, told state news agency IRNA that Tehran and Riyadh are set to reopen their embassies.

18 Apr 2023; MEMO: Turkish citizens will now be able to obtain a visa for Egypt on arrival, according to an announcement on Saturday by Turkiye's charge d'affaires in Cairo.

"Our citizens will be able to enter Egypt without obtaining a visa in advance," Salih Mutlu Sen said on Twitter, adding the following day that it will be "the first time in the last ten years."

18 Apr 2023; MEMO: Saudi Arabia's Foreign Minister has arrived in Syria's capital today, in the first such official visit to the country since the outbreak of the ongoing conflict in 2011.

Saudi Foreign Minister, Prince Faisal bin Farhan, arrived in the Syrian capital, Damascus, this afternoon, where he was welcomed at the airport by Syria's Minister of Presidency Affairs, Mansour Azzam. He then reportedly met with Syrian President, Bashar Al-Assad, but no details of their meeting have yet been revealed.

18 Apr 2023; MEMO: The US State Department has notified Congress of its approval of the sale to Turkiye of Link-16 tactical data link modernisation kits for F-16 jets, sources familiar with the matter said Monday, Anadolu News Agency reports.

18 Apr 2023; MEMO: Turkiye is considering petitioning a federal court in the United States to enforce an arbitration award amounting to hundreds of millions of dollars that it won against Iraq, amid a dispute over crude oil exports Ankara received from Iraq's autonomous northern Kurdish region.