Business

Islamabad, Oct 4 (PTI) China has shown interest in importing donkeys and dogs from Pakistan, officials have told a parliamentary committee as the cash-strapped country is trying to overcome a major economic crisis.

During a briefing on imports and exports on Monday between the officials of the Ministry of Commerce and Senate Standing Committee, one of its members, Dinesh Kumar said that China has expressed interest in importing donkeys as well as dogs from Pakistan, Geo News reported.

3 October 2022; MEMO: The OPEC+ group of oil producers is discussing output cuts of more than 1 million barrels per day (bpd), OPEC sources said, and voluntary cuts by individual members could come on top of that, making it the largest cut since 2020, Reuters reports.

The meeting will take place on 5 October against a backdrop of falling oil prices and months of severe market volatility which prompted top OPEC+ producer, Saudi Arabia, to say the group could cut production.

3 October 2022; MEMO: Turkiye's inflation climbed to a new 24-year high of more than 83 per cent for September, the country's official body for statistics, TUIK, said Monday, Reuters reports.

According to the report, consumer prices in September grew by 3.08 per cent, and annually by 83.45 per cent.

The domestic producer price index was up 4.78 per cent from the previous month, and up a whopping 151.5 per cent year on year, report added.

3 October 2022; MEMO: Stressing the strong ties between Turkiye and Libya, the Turkish Foreign Minister announced in Tripoli on Monday the signing of Memorandums of Understanding on hydrocarbon and gas between the two countries.

Saying that Turkiye has always stood with Libya and its people in times of need, Mevlut Cavusoglu told a joint press conference with his Libyan counterpart, Najla El Mangoush that his country will continue to support Libya without any hesitation.

3 October 2022; MEMO: Lebanon will send its comments on a US proposal to delineate its maritime border with long-time foe, Israel, to the American official mediating talks by Tuesday, a top Lebanese official said on Monday, Reuters reports.

Deputy Parliament Speaker, Elias Bou Saab, said the Lebanese government would not respond to the proposal officially until US Envoy, Amos Hochstein, responded to its concerns, which it expected him to do by the end of the week.

4 October 2022; MEMO: Tunisia's powerful UGTT Labour Union has no deal with the government on reforming subsidies and publicly owned companies and will lead street protests over any "painful" changes, it said on Monday, potentially complicating foreign bailout talks, Reuters reports.

The government is in talks with the International Monetary Fund (IMF) for a rescue package that could unlock further bilateral aid for Tunisia to help it avert a looming crisis in public finances.

4 October 2022; MEMO: Iran believes it is still possible to revive the nuclear deal, despite weeks of stalled talks and Western countries' belief that Tehran's position on the draft settlement proposal is "unconstructive", an Iranian official said.

Iranian Foreign Ministry spokesman Nasser Kanaani told reporters yesterday "there is still possibility and a chance to resume the implementation of the nuclear deal."

3 October 2022; MEMO: Yemen's Houthis on Saturday warned foreign oil companies working in areas controlled by the internationally recognised government to cease operating or risk coming under attack.

The Houthi-affiliated Al-Masirah TV reported that the head of the group's Supreme Council, Mahdi Al-Mashat, issued instructions to prepare official communications to all foreign companies and entities involved in "looting Yemen's sovereign wealth" to immediately cease their activities.

3 October 2022; MEMO: The Qatar Investment Authority (QIA) announced yesterday that it has agreed to invest €2.43 billion ($2.43 billion) in the German multinational energy company RWE AG (RWE) to support the company's accelerated "Growing Green" strategy, according to Qatar News Agency (QNA).

QIA CEO, Mansour Bin Ibrahim Al Mahmoud, affirmed his support for RWE's vision to be a leader in the global renewable energy market.

2 October 2022; MEMO: Israel gave its preliminary nod on Sunday to a draft US-brokered deal demarcating a maritime border with Lebanon that could lead to possible profit-sharing from future gas production by Beirut in a long-disputed Mediterranean prospect, Reuters reported.

Hoping to defuse one source of conflict between the enemy countries and perhaps prod them toward accommodation, US envoy Amos Hochstein last week submitted a new proposal that would pave the way for offshore energy exploration.