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UAE forced to juggle China trade or loose F-35 jet deal with US

11 June 2021; MEMO: The UAE has come under pressure from the Biden administration to remove China's Huawei equipment from its networks within the next four years or risk termination if its deal with Washington to purchase F-35 jets and drones; a major reason for why the Gulf state normalised ties with Israel last year.

India: Old tempos, autos to stop running in city's outer areas from July

Kanpur: Regional Transport Office has taken a decision to make the city free of pollution. Older tempos and autos will no longer run in outer areas. 

It has been made clear that tempos and autos running in the city's outer areas will not run from July. This decision has taken place to control pollution.

As many as 1000 tempos and 100 autos that are 15 years old will turn into scraps if seized. 

Diesel propelled tempos and autos were banned years ago in city areas but these were running into the rural areas. These were licensed to run.

India: Forex reserves cross USD 600 bn mark for first time

Mumbai, Jun 11 (PTI) The country's foreign exchange reserves crossed the USD 600 billion mark for the first time after increasing by USD 6.842 billion in the week ended June 4, RBI data showed on Friday.

The reserves surged to a record USD 605.008 billion in the reporting week, helped by a rise in foreign currency assets (FCA), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI).

In the previous week ended May 28, 2021, the reserves had swelled by USD 5.271 billion to USD 598.165 billion.

Turkey discovers new $1.2bn gold reserves

11 June 2021; MEMO: Turkey discovered around 20 tonnes of gold with a market value of $1.2 billion (10.2 billion lira) and 3.5 tonnes of silver reserves with a market value of $2.8 million in the eastern Agri province, Industry and Technology Minister Mustafa Varank announced yesterday.

According to reports, Varank referred to the discovery of the reserves as an important development for both Turkey and the region.

Russia to provide Iran with advanced satellite

11 June 2021; MEMO: Russia is preparing to provide Iran with an advanced satellite that would enable it to track potential military targets across the Middle East, the Washington Post reported yesterday.

The plan would deliver a Russian-made Kanopus-V satellite equipped with a high-resolution camera which could be launched from Russia within months, Reuters reported the Post saying.

US charges Israelis in insider trader scheme

11 June 2021; MEMO: US prosecutors yesterday unveiled criminal charges in Manhattan accusing two Israeli traders of illegal trading in several biotechnology and healthcare companies in connection with a sprawling international insider trading scheme, Reuters reported.

 

Tomer Feingold and Dov Malnik were accused in a 15-count indictment of securities fraud, wire fraud, tender offer fraud, concealment of a money laundering scheme and conspiracy.

Iran ships tankers containing 1.4m barrels of crude oil to Syria

11 June 2021; MEMO: A further 1.4 million barrels of Iranian crude oil is expected to arrive in Syria's Baniyas port in 24 hours, according to naval tracking firm Tanker Trackers on Thursday, Anadolu Agency reports.

"In roughly 24 hours from now, the first two out of three tankers shall arrive in Baniyas, Syria with around 1.4 million barrels of Iranian crude oil," Tanker Trackers said.

Approximately 300,000 further barrels are in the Suez, the naval tracking firm said.

US lifts some sanctions from Iran energy sector

11 June 2021; MEMO: The United States yesterday announced it had removed sanctions on three former Iranian officials and two companies that previously traded Iranian petrochemicals, a step one official called routine but that could show Washington's readiness to ease sanctions when justified, Reuters reported.

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