Business

New Delhi, Sep 29 (PTI) Saudi Arabia, the world's biggest oil exporter, is looking at investing USD 100 billion in India in areas of petrochemicals, infrastructure and mining among others, considering the country's growth potential.

Saudi Ambassador Dr Saud bin Mohammed Al Sati has said India is an an attractive investment destination for Saudi Arabia and it is eyeing long-term partnerships with New Delhi in key sectors such as oil, gas and mining.

New Delhi, Sep 29 (PTI) The government on Sunday banned the export of onion to increase availability of the commodity in the domestic market and contain rising prices.

"Export of all varieties of onions...is prohibited with immediate effect," the Directorate General of Foreign Trade (DGFT), an arm of the commerce ministry which deals with exports and import related issues, said in a notification.

The DGFT on September 13 had imposed a minimum export price (MEP) of USD 850 per tonne to curb its shipments and help bring down rising domestic prices.

Ghaziabad, Sep 28 (PTI) Building plans in Ghaziabad will now be approved online, officials said on Saturday.

Building plans on land measuring 300 metre or less will be approved within 24 hours without any manual interface, while those in bigger plots will be sanctioned within a month, they said.

The decision was taken to avoid delays in sanctioning building plans, on directions of the state government at the board meeting of the Ghaziabad Development Authority (GDA), its chairperson Anita Meshram told reporters.

Mumbai, Sep 29 (PTI) The RBI may cut the key policy rate again on Friday, the fifth in row, to complement the government's measures like reducing corporate tax and promoting credit offtake to spur economic activity during the festive season amid range-bound inflation.

The RBI Governor Shaktikanta Das headed Monetary Policy Committee (MPC) will announce the fourth bi-monthly monetary policy for 2019-20 on Friday, October 4, after its three-day meeting.

UNITED NATIONS, Sept 29 (NNN-XINHUA) – Vietnamese Foreign Minister, Pham Binh Minh, called for strengthening the United Nations by revitalising the acutely challenged multi-lateralism.

UNITED NATIONS, Sept 29 (NNN-XINHUA) – Malaysian Prime Minister, Dr. Mahathir Mohamad, said, the Association of Southeast Asian Nations (ASEAN) countries, should follow China’s example, to boost the regional economy while voicing strong support for free trade.

“ASEAN has got 650 million people, half the population of China. Yet, we don’t have even half the strength of China,” said the 94-year-old politician, adding, “we must learn how to exploit that population.”

AMMAN, Jordan, Sept 29 (NNN-PETRA) – An International Monetary Fund (IMF) mission, concluded its recent visit to Jordan, to assess recent economic developments in the country, said a statement by the IMF on Saturday.

The new mission Chief for Jordan, Chris Jarvis, was introduced during the visit, it said.

A mission to complete the third review of the IMF’s Extended Fund Facility (EFF) will take place after IMF holds its annual meetings in Oct, the statement added.

UNITED NATIONS, Sept 28 (NNN-AGENCIES) — Sudan’s prime minister said on Friday he had held useful talks with U.S. officials while at the United Nations this week, and expressed hope Khartoum could reach an agreement to be removed from Washington’s state-sponsored terrorism list “very soon.”

Abdalla Hamdok, an economist, was appointed in August as leader of a transition government, vowing to stabilise the country and repair an economy battered by years of U.S. sanctions and government mismanagement during Omar al-Bashir’s 30-year rule.

28 Sep 2019; MEMO: On Friday, the Iranian president Hassan Rouhani revealed via his official website, that the US have offered to lift all sanctions imposed on Tehran, in return for holding discussions.

New Delhi, Sep 27 (PTI) MTech students in IITs will now have to pay more with the IIT Council on Friday approving a fee increase to bring it to the level of BTech courses.

The Council chaired by Union HRD Minister Ramesh Pokhriyal also approved the 'tenure track pathway' to decide whether a new faculty member is going 'up' or 'out' after a fifth year review of his or her performance.