Business

5 Nov 2019; MEMO: Saudi Aramco’s profits have fallen by seven per cent in the first nine months of 2019, the company reported yesterday.

In September, Aramco achieved $68.2 billion of profit, up from $83.3 billion in the same period in 2018.

The oil company’s announcement came following its decision on Sunday to go public and offer shares in the stock market after approval by the Saudi Crown Prince Mohammed Bin Salman.

5 Nov 2019; MEMO: US President Donald Trump spoke with Egyptian President Abdel Fattah al-Sisi on Monday and voiced support for negotiations between Egypt, Ethiopia and Sudan over a giant hydroelectric dam on Ethiopia’s Blue Nile, the White House said, Reuters reports.

Egypt’s foreign minister said last week the Trump administration had invited the three countries to a meeting in Washington on Nov. 6 to try to break the deadlock in the talks.

5 Nov 2019; MEMO: Remittances from Egyptians living abroad have risen to $4.4 billion in July and August 2019, the Central Bank of Egypt (CBE) announced yesterday.

In May, Egyptian expatriates’ remittances were reported to have risen by 42.8 per cent, reaching $3 billion. In 2018, remittances stood at $4.2 billion.

Remittances are one of the primary sources of foreign currency into Egypt.

5 Nov 2019; MEMO: Saudi Arabia warned on Monday morning that foreign workers who violate their residency and labour regulations might face the risk of prison and fines.

Shanghai, Nov 5 (AFP) President Xi Jinping on Tuesday pledged to further open China's economy, declaring the world must "knock down walls" as he opened an annual trade fair in Shanghai.

Xi addressed an audience including French President Emmanuel Macron at the import exhibition, staged annually by China to show its willingness to free up its vast domestic markets in the face of criticism that they are too cosseted by Beijing.

Washington, Nov 5 (PTI) The US has formally notified the UN of its withdrawal from the 2015 Paris climate accord, a landmark global agreement which brought together 188 nations, including India, to combat global warming.

The Paris Agreement, in which Trump's predecessor Barack Obama and Prime Minister Narendra Modi played instrumental roles, was adopted at the UN climate conference "COP 21" held in the French capital in 2015 with an aim to reduce the hazardous greenhouse gas emissions.

New Delhi, Nov 4 (PTI) With India deciding not to join the Regional Comprehensive Economic Partnership (RCEP), the Congress on Monday claimed victory saying its forceful opposition ensured that the BJP government backs out from bartering the interests of farmers, dairy producers, fishermen and small and medium businessmen.

Congress chief spokesperson Randeep Surjewala said it is a win for all those protecting national interests.

Chennai, Nov 4 (PTI) Hinduja Group flagship Ashok Leyland showcased its wide range of Bharat Stage VI trucks and buses in Chennai on Monday.

The city-based commercial vehicle major has become the first Indian original equipment manufacturer (OEM) to meet the BS-VI emission norms across the full range of heavy-duty trucks of 16.2 tonne or above.

"..in focus with our aspirations of being among the top 10 global commercial vehicle maker, we have yet again come up with an innovative technology to address the BS VI norms," Leyland chairman Dheeraj G Hinduja said here.

Nonthaburi, Nov 4 (AP/PTI) President Donald Trump has invited Southeast Asian leaders to a "special summit" in the United States early next year after skipping their annual summit.

Robert O'Brien, the national security adviser Trump sent in his stead, included the invitation in a letter from Trump that he read at a U.S.-ASEAN meeting on Monday on the sidelines of the summit of the 10-nation Association of Southeast Asian Nations on the outskirts of Thailand's capital.

BANGKOK, November 3. /TASS/. Russia advocates the establishment of the Greater Eurasian Partnership involving the Eurasian Economic Union (EAEU), Association of Southeast Asian Nations (ASEAN) and the Shanghai Cooperation Organization (SCO), Russian Prime Minister Dmitry Medvedev said at the Business and Investment Summit of the Association of ASEAN.

"We advocate the formation of the Greater Eurasian Partnership with the participation of member states of the Eurasian Economic Union, ASEAN, SCO and other possible structures," he said.