Business

Business & Economy

Strategic projects to be launched soon with Turkiye: Iraq Premier

03 Apr 2023; MEMO: Iraqi Prime Minister, Mohammed Shia Al-Sudani, has said new strategic projects with Turkiye will be launched soon, Anadolu News Agency reports.

"We have many partnerships and interests with neighbouring Turkiye. There are some problems in terms of water and security, but there are great opportunities to solve these problems. We are grateful for Turkiye's efforts to provide Iraq's water share," Al-Sudani told Al Jazeera network.

Pakistan to place order for Russian oil next month: minister

Islamabad, Apr 2 (PTI) Cash-strapped Pakistan plans to place its first order for Russian crude oil next month and it will take about four weeks for the commodity to reach the country, Minister of State for Petroleum Musadik Malik said.

Pakistan, which is currently grappling with high external debt and a weak local currency, is desperate to purchase cheap crude at discounted rates from Russia.

'Don't help a villain', China urges Japan not to back US tech restriction as the two FMs hold talks

Beijing, Apr 2 (PTI) Chinese Foreign Minister Qin Gang on Sunday urged his Japanese counterpart Yoshimasa Hayashi not to "help a villain do evil" by backing the US tech restrictions against Beijing as the two ministers held rare talks here amid China's increasing criticism against Tokyo's backing for Washington-led Indo-Pacific strategy.

The United States "used bullying tactics to brutally suppress the Japanese semiconductor industry, and now it is repeating its old tricks against China", Qin told Hayashi.

Egypt's Sisi likely to meet Syria's Assad in April

02 Apr 2023; MEMO: Egyptian President Abdel Fattah al-Sisi is likely to meet his Syrian counterpart Bashar Al-Assad at the end of April, Wall Street Journal reported on Saturday, says Anadolu Agency.

The US newspaper, citing informed sources, said Cairo and Damascus are conducting "advanced discussions" to restore diplomatic ties and to hold a top-level meeting between the two countries.

Border trade between Pakistan & China to resume next week after 3 years

Islamabad, Apr 1 (PTI) After a three-year hiatus, Pakistan and China are set to resume trade from Monday through the Khunjerab Pass - the only land route between the two all-weather allies, a media report said on Saturday.

The Khunjerab Pass was closed in November 2019 to contain the transmission of the COVID-19 virus between the two countries.

India's export of military hardware reaches all-time high of Rs 15,920 cr in FY 2022-23

New Delhi, Apr 1 (PTI) India's export of military hardware reached an all-time high of Rs 15,920 crore in the financial year 2022-2023 with Prime Minister Narendra Modi describing it as a clear manifestation of enthusiasm towards 'Make in India' initiative.

The value of total defence exports in 2022-23 is a ten-fold increase compared to the amount of Rs 1,521 crore recorded in exporting military hardware in 2016-17.

China, Japan establish military hotline to avert maritime, air incidents over disputed islands

Beijing, Mar 31 (PTI) China and Japan on Friday set up a military hotline to strengthen their capability of managing and controlling maritime and air incidents arising due to their aggressive patrolling of the disputed waters in the East China Sea.

India: Kerala faced economic hardships due to Centre's unfavourable policy measures

Thiruvananthapuram, Mar 31 (PTI) Kerala experienced economic hardships due to the unfavourable policy measures taken by the central government, State Finance Minister K N Balagopal said on Friday.

Balagopal, who met the media here on the last day of the 2022-23 financial year, said there was a shortage of Rs 40,000 crore in this financial year due to the policies of the Centre.

He also said that despite the adverse situations, Kerala managed to perform well in terms of income and expenditure.

UAE revokes licence of sanctioned Russian bank

31 Mar 2023; MEMO: The United Arab Emirates' central bank today said it will cancel the licence it granted last year to Russia's MTS bank, which was placed under British and US sanctions in February, Reuters reports.

Operations at the bank's UAE branch, which is licensed in the emirate of Abu Dhabi, will be wound down within six months under central bank supervision.

Subscribe to Business