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Business & Economy

Scotland is taking steps towards independence vote

BRUSSELS, Feb 11 (NNN-AGENCIES) — Scotland is already taking steps to hold a referendum on independence and believes it is a matter of when rather than if the country separates from the rest of Britain, Scotland’s First Minister said.

“We should agree a process between ourselves and the UK government for a referendum in line with the clear mandate given by the people of Scotland,” Nicola Sturgeon told a news conference in Brussels on her first foreign trip since Britain left the European Union.

Singapore tourism to take ‘significant hit’ in 2020 due to coronavirus, up to 30% fewer visitors expected

SINGAPORE, Feb 11 (NNN-CNA) — The tourism sector will take a “significant hit”, with visitor arrivals estimated to fall by 25 per cent to 30 per cent this year due to the novel coronavirus outbreak, said the Singapore Tourism Board (STB). 

The coronavirus outbreak has significantly impacted visitor arrivals, especially from China, which accounts for about 20 per cent of international visitor arrivals here, said STB in a media release. 

India: Economy close to collapse, fear in country: Chidambaram

New Delhi, Feb 10 (PTI) Former finance minister P Chidambaram on Monday tore into the Modi government's handling of the economy, saying it was close to collapse and was being attended by "very incompetent doctors."

Initiating the debate on the Union Budget for 2020-21, he said rising unemployment and falling consumption was making India poorer.

Malaysian-born Maha Sinnathamby invites the world to share his A$88 billion private city

KUALA LUMPUR, Feb 10 (NNN-BERNAMA) — The journey from Negeri Sembilan to Queensland, Australia can take a day if you travel by plane, but for Maha Sinnathamby, it has taken a lifetime.

The billionaire was born in the village of Rantau 80 years ago and never dreamed he would one day become one of Australia’s richest men, let alone the founder of one of the most successful master-planned cities in the world.

South Africa seeks to unlock stalled arms sales to Saudi, UAE

09 Feb 2020; MEMO: South Africa aims to free up over a billion dollars in stalled weapons sales, including to Saudi Arabia and the United Arab Emirates, by amending a document at the heart of an export row, a senior arms control official told Reuters.

Local defence firms have lobbied the government for months to change a clause in the export document requiring foreign customers to allow South African officials to inspect their facilities to verify that weapons aren’t being transferred to third parties.

Iran Plans To Develop Two Oilfields Near Iraqi Border

TEHRAN, Feb 9 (NNN-IRNA) – Iranian Petroleum Ministry, awarded a deal worth 1.4 billion U.S. dollars, to an Iranian energy enterprise, to develop two oilfields located at the southeast of the country, state TV reported.

The deal was signed between Iranian Petroleum Ministry and MAPNA Group, which operates in the area of construction and development of thermal power plants, under EPC scheme, independent power plants (IPP), oil and gas, as well as, rail traction projects.

Istanbul municipality hikes public transport prices by 35%

08 Feb 2020; MEMO: Istanbul’s municipality said it was hiking the price of public transport by 35% as of Monday to alleviate transport sector losses, in a move which will likely impact inflation, Reuters reports.

The price hike decision came after Istanbul’s Transportation Coordination Centre (UKOME) met representatives from the Istanbul Chamber of Tradesmen and Artisans (ISTESOB) on Thursday, the municipality said.

Indian businessman Anil Ambani to pay USD 100 mn in conditional order for Chinese banks: UK court

London, Feb 7 (PTI) A UK court on Friday directed Reliance Group chairman Anil Ambani to pay USD 100 million towards a conditional order granted to three Chinese banks pursuing the recovery of over USD 680 million owed to them as part of a loan agreement.

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