Business

KUALA LUMPUR, Nov 12 (NNN-BERNAMA) — Malaysia will continue to be on the global investors’ radar due to its solid economic position and its importance in the Belt and Road Initiative (BRI), said IQI Global chief economist Shan Saeed.

There have been lots of financial fragilities in Europe and many advanced economies in recent times, he said.

MANILA, Nov 12 (NNN-PNA) – Philippines is on its way to become the world’s biggest importer of rice this year following the government’s decision to allow the unimpeded importation of the staple as a way to bring down prices, international data showed.

A report by the United States’ Department of Agriculture-Foreign Agricultural Services (USDA-FAS) projected the country’s rice imports to reach a record three million metric tons (MT) by year-end—the highest in the world and the highest for the country.

by Elif Selin Calik

After being vetoed twice for membership of the European Union in 1967, the United Kingdom was finally admitted at the third attempt in 1973. Today, the British government is negotiating to leave the EU, with the so-called Brexit.

12 Nov 2019; MEMO: The Governor of Lebanon Central Bank, Riad Salameh, said yesterday that the 2017 resignation of Prime Minister Saad Hariri following pressure from Saudi authorities has negatively affected the country’s economy.

12 Nov 2019; MEMO: President Hassan Rouhani said on Monday Iran would regain access to the international arms market later next year if it stuck to its 2015 nuclear deal with world powers and this would prove “a huge political success”, reports Reuters.

However, while a United Nations-imposed arms embargo on Iran is supposed to be lifted in October 2020, five years after the nuclear deal took effect, it is questionable whether that will transpire given the recent unravelling of the accord.

New Delhi, Nov 11 (PTI) Several countries, including Australia, Iran, UK and Vietnam, will participate in the 14-day India International Trade Fair 2019 beginning here on Thursday.

The theme for the 39th edition of the fair (November 14-27, 2019) is 'Ease of Doing Business' inspired by India's unique achievement of rising to 63rd rank on the World Bank's Ease of Doing Business Index from 142nd rank in year 2014, an official release said.

The fair will be inaugurated by Minister of Micro, Small and Midium Enterprises (MSME) Nitin Gadkari.

Johannesburg, Nov 12 (PTI) The world's largest steel maker ArcelorMittal's South Africa unit has said it will retrench nearly 1,000 workers and shut down its Saldanha plant due to severe financial losses, amid a global downturn in the steel industry.

Global steel magnate Lakshmi Mittal's ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries.

New Delhi, Nov 11 (PTI) Showing signs of sluggishness in the economy, industrial production shrank by 4.3 per cent in September, registering the weakest performance in seven years due to output decline in manufacturing, mining and electricity sectors, as per official data released on Monday.

According to the Central Statistics Office (CSO) data, 4.3 per cent contraction is the lowest in 2011-12 series of Index of Industrial Production, which was unveiled in May 2017. The IIP had declined by 0.7 per cent in April, 2012.

New Delhi, Nov 11 (PTI) Prime Minister Narendra Modi will be in Brazil on November 13 and 14 to attend the 11th BRICS summit, the theme of which is "economic growth for an innovative future".

This will be the sixth time Modi will be participating in the BRICS summit, his first being at Fortaleza, also in Brazil in 2014, a statement from the Prime Minister's Office said.

Sources said he would leave for Brasilia, Brazil on Tuesday afternoon.

OHRID (Republic of North Macedonia), Nov 11 (NNN-AGENCIES) — Albania, North Macedonia and Serbia discussed setting up a common market at a summit Sunday.

The leaders of the three countries met at Lake Ohrid, in North Macedonia, after the EU last month refused to start membership talks with Albania and North Macedonia.

Albanian Prime Minister Edi Rama, his North Macedonian counterpart Zoran Zaev and Serbian President Aleksandar Vucic, who launched the common market initiative in October, attended Sunday’s meeting.