Business

MEXICO CITY/HAVANA, Feb 15 (NNN-AGENCIES) — Venezuela’s state energy firm PDVSA has been shipping more oil this month to close ally Cuba, as tighter U.S. sanctions have worsened fuel shortages on the Caribbean island.

Six vessels, most of them owned by PDVSA’s maritime arm, have exported an average of 173,000 barrels per day (bpd) of Venezuelan crude and fuel to Cuba so far this month, according to Refinitiv Eikon data and PDVSA’s documents.

At least two more cargoes are planned for the remainder of the month, according to the documents and data.

ISLAMABAD, Feb 15 (NNN-PPI) – Pakistan started preparations to sign the Strategic Economic Framework (SEF) and Plan of Action (PoA), agreed upon with Turkey, and the government decided to establish a special unit at the Ministry of Economic Affairs, for SEF after both countries consented to the draft of the framework.

Ministry of Economic Affairs, dispatched a letter to the Ministry of Foreign Affairs, to contact Turkey through diplomatic channels.

14 Feb 2020; MEMO: It is being described as one of the most successful espionage programs ever to exist. For more than half a century the CIA and the German spy agency, BND, oversaw a vast snooping industry which allowed them to pry on as many as 128 countries.

SINGAPORE, Feb 14 (NNN-CNA) — A S$77 million Point-to-Point Support Package to help taxi and private-hire car drivers affected by the COVID-19 outbreak was announced by the Singapore government.

The Government will contribute S$45 million towards the package, with the remaining provided by taxi and private-hire car operators. 

MONTREAL, Feb 14 (NNN-AGENCIES) — The new coronavirus outbreak could mean a reduction of US$4-5 billion in worldwide airline revenue, the International Civil Aviation Organization (ICAO) said.

The UN agency reported that 70 airlines have cancelled all international flights in and out of China and 50 others have reduced their operations.

Preliminary estimates show this has meant a reduction of nearly 20 million passengers compared to expectations for the first quarter of 2020.

Washington, Feb 13 (PTI) Ahead of President Donald Trump's maiden visit to India, four influential US senators, who described themselves as "longtime friends of India", have sought an assessment of the human rights situation in Kashmir and religious freedom in the country, saying hundreds of Kashmiris remain in "preventive detention".

New Delhi, Feb 12 (PTI) Retail inflation inched up to 7.59 per cent in January on costlier food items, showed government data on Wednesday.

The Consumer Price Index (CPI)-based retail inflation was 7.35 per cent in December 2019 and 1.97 per cent in January last year.

The food inflation last month was 13.63 per cent, compared with (-)2.24 per cent in January 2019. However, it is down from 14.19 per cent in December.

The Reserve Bank of India had kept the key policy rate unchanged earlier this month mainly due to high inflation.

Lucknow, Feb 12 (PTI) BSP supremo Mayawati on Wednesday attacked the Centre over a steep hike in the price of LPG or cooking gas cylinder, terming it as a "cruel decision" against the poor.

Reacting to the hike of Rs 144.5 per LPG cylinder due to spurt in benchmark global rates of the fuel, she said the move will hit crores of poor and hard-working people who are already facing "severe inflation".

CARACAS, Feb 12 (NNN-Xinhua) — US sanctions against Venezuela’s state-owned airline Conviasa violate international law, said Jorge Alvarez, president of the Chamber of Venezuelan Air Transport Companies.

The only organization with the power to stop a carrier from flying from one country to another is the International Civil Aviation Organization, Alvarez told a local radio station.

“From a strategic viewpoint, Conviasa flies to a series of destinations that our country’s executive branch considers to be fundamental,” said Alvarez.

HARARE, Feb 11 (NNN-AGENCIES) — Zimbabwe’s Finance Minister Mthuli Ncube has warned that traders who continue to demand payment in US dollars will face prosecution.

In June, the country abandoned the use of the US dollar for its official currency the Zimbabwe dollars; reintroducing a local currency that was scrapped 10 years ago.

But a shortage of local currency and its rapid decline in value has resulted in businesses – including grocers and fuel stations – demanding payments in US dollars.

Zimbabwe imports most of its goods including fuel and food.