Business

Business & Economy

50 years later, the moon is still great for business

NEW YORK (AP) — Fifty years after humans first visited, businesses are still trying to make a buck off the moon.

Hundreds of millions of people were riveted when Apollo 11 landed on the moon on July 20, 1969. Naturally, marketers jumped at the chance to sell products from cars and televisions, to cereal and a once-obscure powdered drink called Tang.

They are at it again in 2019, as the 50th anniversary of the giant leap for mankind approaches.

India: RBI Deputy Governor Viral Acharya quits 6 months before term

New Delhi, Jun 24 (PTI) RBI Deputy Governor Viral Acharya, who was in-charge of the monetary policy department, has resigned six months before the scheduled end of his term, sources said Monday

This is the second high profile resignation in the past six months at the Reserve Bank of India (RBI).

In December, governor Urjit Patel resigned nearly nine months before the end of his scheduled term over differences with the government.

Iranians say their ‘bones breaking’ under US sanctions

TEHRAN, Iran (AP) — As the U.S. piles sanction after sanction on Iran, it’s the average person who feels it the most.

From a subway performer’s battered leather hat devoid of tips, to a bride-to-be’s empty purse, the lack of cash from the economic pressure facing Iran’s 80 million people can be seen everywhere.

Many blame President Donald Trump and his maximalist policy on Iran, which has seen him pull out of Tehran’s 2015 nuclear deal with world powers and levy punishing U.S. sanctions on the country.

Saudi Arabia launches special residency scheme for expats

23 June 2019; MEMO: Saudi Arabia launched on Sunday their new special residency scheme similar to green card systems applicable in other countries, aimed at attracting wealthy and high-skilled expats, reports Reuters.

The residency scheme offers two types of residencies, a permanent one for 800,000 Saudi riyals ($213,321.96) and a one year but renewable residency for 100,000 Saudi riyals ($26,665.24).

China will always stand by Pakistan's 'core interests'

Islamabad, May 27; GANASHAKTI: China will always stand by Pakistan's "core interests" no matter how the international landscape changes, visiting Chinese Vice President Wang Qishan has said as he cited the USD 60 billion CPEC as the manifestation of their all-weather relationship.

Addressing a meeting on Sunday organised by the Pakistan-China Institute (PCI), the senior Chinese leader said the world was passing through a time of major developments and transformation.

Kia is considering a low-cost electric vehicle (EV) for India

New Delhi, Jun 23 (PTI) South Korean auto major Kia Motors Corporation is considering a low-cost electric vehicle (EV) for India in collaboration with group firm Hyundai Motors and wants personal usage for EVs to be included for government support under the FAME II scheme in India, according to a top company official.

The company, which is a part of the Hyundai Motor Group, plans to launch four new models, including its upcoming SUV Seltos, in the next two years in India but said the low-cost EV would be a separate project.

U.S. to impose major sanctions against Iran on Monday: Trump

WASHINGTON, June 22 (Xinhua) -- President Donald Trump said on Saturday that the United States would impose major additional sanctions against Iran on Monday.

"We are putting major additional Sanctions on Iran on Monday," Trump tweeted on Saturday, without providing any other details.

"Iran cannot have Nuclear Weapons!" he stressed in the same tweet.

Before leaving for Camp David earlier in the day, Trump told reporters that additional sanctions would be moving forward against Iran, with some being implemented "slowly" and some "more rapidly."

Flights of Georgian airlines to Russia to be suspended from July 8 - Transport Ministry

MOSCOW, June 22. /TASS/: Flights of Georgian airlines to Russia will be suspended from July 8, according to the Russian Transport Ministry.

"The reason for the suspension of flights is the need to ensure a sufficient level of aviation security, as well as overdue debts for air navigation activities before State ATM Corporation," the Ministry said.

The total amount of Georgia’s debt for air navigation services is slightly below $793,000. At the same time, another 592,200 rubles ($9,391) of debt have not been repaid since 2008.

ASEAN leaders call for restraint amid sea row, US-China rift

BANGKOK (AP) — Southeast Asian leaders have pressed their call for self-restraint in the disputed South China Sea after a new incident and renewed their alarm over the U.S.-China trade war with one warning it may spiral out of control.

The long-raging territorial conflicts and the protracted dispute between the two global economic powerhouses are high on the agenda of the Association of Southeast Asian Nations leaders meeting Sunday in an annual summit in the Thai capital of Bangkok.

Amid tough talk, Trump says he could be Iran’s ‘best friend’

WASHINGTON (AP) — President Donald Trump said Saturday that military action against Iran was still an option for its downing of an unmanned U.S. military aircraft, but amid heightened tensions he dangled the prospect of eventually becoming an unlikely “best friend” of America’s longtime Middle Eastern adversary.

Trump also said “we very much appreciate” that Iran’s Revolutionary Guard chose not to target a U.S. spy plane carrying more than 30 people.

Subscribe to Business