Business

Business & Economy

Egypt delegation in Gaza to discuss reconstruction, ceasefire

The head of Egyptian intelligence, Abbas Kamel, and his accompanying delegation arrived in the Gaza Strip yesterday afternoon to hold talks on the ceasefire between Hamas and Israel.

Entering through the Beit Hanoun (Erez) checkpoint in the northern Gaza Strip, the delegation was received by the head of the Hamas movement in the Gaza Strip, Yahya Sinwar, and the movement's leadership.

This is Kamel's first visit to Gaza since he took office in 2018.

China's central bank tries to stop surge in currency's value

Beijing, Jun 1 (AP-PTI) China's central bank is trying to restrain the surging exchange rate of its currency, temporarily backtracking in efforts to make the tightly controlled yuan more flexible and market-oriented.

On Monday, commercial lenders were ordered to hold more of their foreign currency as reserves in the central bank to limit sales after the yuan hit a four-year high of 6.3674 to the US dollar.

India's manufacturing sector activity slips in May, heads towards stagnation

New Delhi, Jun 1 (PTI) India's manufacturing sector activity witnessed a significant loss of growth momentum in May due to the intensification of the COVID-19 crisis and its detrimental impact on demand, a monthly survey said on Tuesday.

The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI), fell to 50.8 in May, down from 55.5 in April, as companies observed the slowest rises in new work and output in ten months amid intensification of the COVID-19 crisis.

India: Bank frauds on the rise under Modi govt: Congress

New Delhi, May 31 (PTI) The Congress on Monday alleged that banking frauds have risen under the Modi government and accused it of allowing the fraudsters to either continue functioning in the country or leave.

Citing an Reserve Bank of India (RBI) report, Congress spokesperson Gourav Vallabh alleged that there have been bank frauds to the tune of 5 trillion rupees.

India: "PM's hall of shame - Minimum GDP, Maximum Unemployment": Rahul Gandhi

New Delhi, Jun 1 (PTI) Congress leader Rahul Gandhi on Tuesday attacked Prime Minister Narendra Modi over the adverse GDP and unemployment figures and raised the issue of "shortage" of drugs for treating black fungus.

"PM's hall of shame - Minimum GDP, Maximum Unemployment," he said on Twitter and shared a graph showing a rise in unemployment among the youth since 2014.

India: Shops open for longer time in city's market

Kanpur: The spate of Corona in the city has been receding so the demand to open the market has been boosted. 

According to a recent report, only 25 cases of corona has been detected on Sunday in the city areas.

Therefore 69% of people favour opening the shops in the market. 

The state government has given relief by reducing the hours of lockdown. The shops remained open for a longer time on Monday. The public was moving in the market and running of vehicles was also seen. It was after a long time the shops were opened upto 7 p.m.

Iranian oil output can reach 6.5 mln bpd: Zanganeh

31 May 2021; MEMO: Iran's oil output can easily reach 6.5 million barrels per day (bpd) when U.S. sanctions are lifted, Iranian Oil Minister Bijan Zanganeh said on Monday, according to the Ministry's SHANA website, Reuters reports.

Zanganeh also said an increase in Iranian oil output would boost the country's political power, as Tehran and world powers pursue talks to lift the U.S. sanctions that have stopped it from pumping anywhere near capacity since 2018.

India: Telangana extends lockdown till June 9; Owaisi opposes

Hyderabad, May 30 (PTI): Telangana Cabinet on Sunday extended the ongoing lockdown to contain the spread of COVID-19 by another 10 days with relaxations from 6 AM to 1 PM every day.

The present lockdown would end today.

The State Cabinet, chaired by Chief Minister Sri K Chandrashekhar Rao, has decided to extend the lockdown in the State for another 10 days from May 31, an official statement from the Chief Minister K Chandrashekhar Rao's office said.

India: Central Vista essential project, work to continue: Delhi HC

New Delhi, May 31 (PTI) Describing the Central Vista project as "vital and essential", the Delhi High Court on Monday allowed construction work on the project to continue and imposed a fine of Rs 1 lakh on the petitioners for their "motivated" plea.

The court said the legality of the project was already upheld by the Supreme Court. It added that even the Delhi Disaster Management Authority allowed it to continue, workers were already present at the site and, therefore, "we see no reason to stop the work".

Qatar sees positive stance in talks to mend UAE ties says foreign minister

30 May 2021; MEMO: Qatar has held several rounds of talks with the United Arab Emirates to mend fences following an agreement to end an inter-Arab feud and there is a "positive vision" to overcome differences, the Qatari foreign minister said, reports Reuters.

Subscribe to Business