Business

7 Mar 2023; MEMO: The United Arab Emirates has been taking more cargoes of Russian crude oil, according to ship tracking data and trading sources, in another example of how Western sanctions on Russia have adjusted traditional energy trade flows, Reuters reports.

6 Mar 2023; MEMO: The indices on the Tel Aviv Stock Exchange have declined by ten to 15 per cent compared to Stock Exchanges in the United States and Europe, as the Israeli shekel's value continues to decline against the US dollar and the euro.

The decline has prompted the Israeli public as well as companies to withdraw their funds and investment portfolios and transfer them abroad, according to a report published by the Times of Israel news website yesterday.

3 Mar 2023; MEMO: Bilateral trade and relations are set for an immense boost with a new free trade agreement between Turkiye and the UAE, according to the Gulf state's Foreign Trade Minister.

The UAE recognises that Turkiye's financial sector is the "right place" for investment and "the sky is the limit" for us in that respect, Thani Ahmed Al Zeyoudi told Anadolu in an exclusive interview in London as the countries gear up to ink a lucrative free trade deal.

2 Mar 2023; MEMO: Saudi Defence Minister Prince Khalid Bin Salman and his British counterpart, Ben Wallace, yesterday signed a "declaration of intent regarding the participation of the Kingdom of Saudi Arabia in the Future Air Capabilities Program (FCAS)."

This was after a meeting between the two officials, during a visit that Wallace started to Riyadh, according to the official Saudi Press Agency.

2 Mar 2023; MEMO: Azerbaijani President, Ilham Aliyev, on Thursday said that a "new world order is taking shape" as he addressed the Non-Aligned Movement (NAM) Contact Group meeting in the capital, Baku, Anadolu News Agency reports.

2 Mar 2023; MEMO: The United Arab Emirates cancelled Israeli Prime Minister Benjamin Netanyahu's planned visit in January due to concerns his conduct during the visit could increase regional tensions with Iran, the Walla new site reports, citing three Israeli officials with knowledge of the matter, the Times of Israel reported.

According to the report, the Prime Minister's Office has said the visit was cancelled for logistical reasons.

1 Mar 2023; MEMO: Russia's Foreign Ministry said, on Wednesday, that Moscow would only agree to extend the Black Sea grain deal, which allows grain to be safely exported from Ukrainian ports, if the interests of its agricultural producers are taken into account, Reuters reports.

1 Mar 2023; MEMO: Supplies of Russian flagship, Urals crude oil, to Turkiye reached a four-month high in February after STAR refinery, owned by Azerbaijan's oil firm, SOCAR, resumed purchases of the blend, data showed and four industry sources said on Wednesday.

Sea-borne Russian oil supplies are subject to an embargo by the European Union and the price is capped by the West to $60 per barrel over Moscow's actions in Ukraine, Reuters reports.

2 Mar 2023; MEMO: French President Emmanuel Macron announced on Monday that he will continue to "move forward" to strengthen Paris' relationship with both Algeria and Morocco.

However, media sites have said that the French government found itself "besieged at the international level and the African one in particular."

28 Feb 2023; MEMO: Abu Dhabi's International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay $1.8 billion to settle a legal dispute over the scandal at Malaysian state fund 1MDB, Malaysia's Ministry of Finance said yesterday, according to Reuters.