Business

6 October 2022; MEMO: Saudi Arabia has planted more than 12 million wild trees and shrubs in a bid to combat desertification.

According to the Saudi Gazette, the National Centre for Vegetation Development and Combating Desertification (NCVC) planted the trees while starting the Integrated Management and Sustainable Development of Pastures Project, which is part of the Kingdom's National Pasture Strategy Initiative, in line with Saudi Arabia's Visio 2030.

6 October 2022; MEMO: Qatar's Ministry of Defence said yesterday that it has signed a memorandum of cooperation with the Defence Department in Washington for US armed forces to contribute towards security at the FIFA World Cup 2022 tournament. The agreement aims to define and organise responsibilities and technical arrangements related to security cooperation, explained the ministry.

6 October 2022; MEMO: US President Joe Biden expressed disappointment on Thursday over announced plans by OPEC+ nations to cut oil output, and he and officials said the United States was looking at all possible alternatives to keep prices from rising, Reuters reports.

Despite that move, Biden said he did not regret his summer trip to Saudi Arabia, which he said was focused on the Middle East.

WASHINGTON (AP) — Two principal economists painted very different pictures Thursday of what the global economy will look like in the coming years.

Kristalina Georgieva, managing director of the International Monetary Fund, told an audience at Georgetown University on Thursday that the IMF is once again lowering its projections for global economic growth in 2023, projecting world economic growth lower by $4 trillion through 2026.

New Delhi, Oct 4 (PTI) Telecom major Jio will start a beta trial of 5G services in four cities - Delhi, Mumbai, Kolkata and Varanasi - from October 5 with a select set of customers, the company said on Tuesday.

The company will send an invite to customers under Jio True 5G Welcome Offer to try its 5G services, and the subscribers will get unlimited 5G data with up to 1 gigabit per second speed.

Washington, Oct 5 (AP) The nation's gross national debt has surpassed USD31 trillion, according to a US Treasury report released Tuesday that logs America's daily finances.

Edging closer to the statutory ceiling of roughly USD31.4 trillion, an artificial cap Congress placed on the US government's ability to borrow, the debt numbers hit an already tenuous economy facing high inflation, rising interest rates and a strong US dollar.

Washington, Oct 5 (PTI) A group of experts in the United States has called for "pragmatic engagement" with Pakistan, saying the US administration had pinned great hopes on their alliance, only to be "disappointed and frustrated".

Canberra, Oct 4 (AP) Australia's central bank on Tuesday boosted its benchmark interest rate for a sixth consecutive month to a nine-year high of 2.6 per cent.

The Reserve Bank of Australia's increase of a quarter percentage point to the cash rate was smaller than those at recent monthly meetings.

Mumbai, Oct 3 (PTI) The rupee depreciated 38 paise to 81.78 against the US dollar in early trade on Monday, tracking a muted trend in domestic equities and risk-off sentiment among investors.

Besides, surging crude prices in the international market impacted the domestic unit, traders said.

At the interbank foreign exchange, the local currency opened weak at 81.65 against the dollar, then lost further ground to quote at 81.78, registering a loss of 38 paise over its previous close.

Washington, Oct 4 (PTI) The US will soon impose further costs on the perpetrators of violence against peaceful demonstrators who protested against the death of a 22-year-old woman in the custody of the morality police in Iran, President Joe Biden has said, as he expressed grave concern over the crackdown on them.

Mahsa Amini, a 22-year-old from Iranian Kurdistan, was arrested for allegedly violating the country's strict Islamic dress code.