Business

Mumbai, Jul 29 (PTI) India's foreign exchange reserves declined USD 1.152 billion to USD 571.56 billion for the week ended July 22, according to RBI data.

The reserves has been declining amid continuing volatility in the rupee which has also significantly depreciated against the US dollar.

In the previous reporting week, the overall reserves had declined by USD 7.541 billion to USD 572.712 billion.

29 July 2022; MEMO: Algerian authorities announced, on Thursday, the signing of a new Memorandum of Understanding with Niger and Nigeria to start implementing the trans-Saharan gas pipeline project, according to the official Algerian television, after a tripartite meeting in Algiers.

29 July 2022; MEMO: China's President Xi Jinping, on Friday, said Beijing will strengthen cooperation with Iran, Anadolu News Agency reports.

"China is willing to strengthen cooperation with Iran within Shanghai Cooperation Organisation (SCO) and other frameworks," Xi told his Iranian counterpart, Ebrahim Raisi, in a phone call, the Chinese daily, Global Times, reported.

29 July 2022; MEMO: Algeria resumed commercial operations with Spain after Algerian Banks Association announced the suspension of a decision that had frozen trade exchanges with Spain, Anadolu News Agency reports.

Banking institutions operating in Algeria received, late Thursday, a new directive stating that the decision to "stop any commercial operations with Madrid" has ended.

29 July 2022; MEMO: Saudi Arabia's de facto ruler announced on Tuesday that the kingdom will provide Europe with "much cheaper renewable energy" using a power cable that will link Riyadh with Greece.

Crown Prince Mohammed Bin Salman arrived in Greece on Tuesday on his first visit to a European Union member state since the gruesome 2018 killing of Saudi journalist Jamal Khashoggi in the Saudi Consulate in Istanbul.

29 July 2022; MEMO: Egypt has cancelled contracts for 240,000 tonnes of Ukrainian wheat which were meant to be delivered in February and March but were prevented by the Russian invasion of Ukraine.

29 July 2022; MEMO: French President, Emmanuel Macron, was hosting Saudi Crown Prince, Mohammed bin Salman, on Thursday as part of increased Western efforts to court the major oil-producing State amid the war in Ukraine and faltering talks to revive a nuclear deal with Iran, Reuters reports.

28 July 2022; MEMO: The leader of the Christian Lebanese Forces party, Samir Geagea, has backed a proposal by the Hezbollah movement to import fuel from Iran.

27 July 2022; MEMO: A new joint coordination Centre in Istanbul, established as part of a historic deal to restart Ukrainian grain exports to the world, officially opened on Wednesday, Anadolu News Agency reports.

"The duty of the Centre is to provide safe sea transportation of grain and similar food products to be exported from Ukraine," Turkish Defence Minister, Hulusi Akar, said at the opening ceremony, held at the National Defence University in Istanbul.

27 July 2022; MEMO: Vladimir Putin approached Turkiye's Recep Tayyip Erdogan with a proposal that Turkish attack drone maker, Baykar, set up a production plant in Russia, local media, CNN Turk, reported on 27 July.

According to the report, Erdogan told colleagues at a top party meeting on 26 July that Putin approached him during their July 19 meeting in Tehran to suggest the Baykar deal.