Business

CANBERRA, Nov 11 (NNN-XINHUA) – The Norwegian Government is set to be the major beneficiary, if oil drilling in the Great Australian Bight goes ahead.

According to an analysis by think tank, The Australia Institute, while the Federal Government would reap a minimum of 7.4 billion Australian dollars (5.07 billion U.S. dollars) in petroleum taxes over 40 years, the Southern Australia (SA) state government would receive only 300 million Australian dollars (205.7 million U.S. dollars).

ATHENS, Nov 11 (NNN-Xinhua) — Chinese President Xi Jinping arrived in Greece Sunday for a three-day state visit to consolidate traditional friendship and strengthen cooperation between the two countries.

It is the first visit by a Chinese head of state to the European nation in 11 years.

Xi and his wife, Peng Liyuan, were greeted by senior Greek officials at the airport.

Upon arrival, Xi said Greece boasts long history and glorious culture and has made outstanding contributions to the progress of human civilizations.

AMMAN, Nov 11 (NNN-PETRA) – Jordan, on Sunday said, there will be no extension or renewal of an agreement which leases part of Jordan’s lands to Israel.

Early Sunday, King Abdullah II of Jordan announced the official termination of an agreement, which leases part of the kingdom’s lands to Israel.

“Today, I also announce the expiration of the Peace Treaty annexes on Baqoura and Ghumar, and the imposition of our full sovereignty over every inch of those lands,” the king said.

11 Nov 2019; MEMO: In the presence of the head of Iran’s Atomic Energy Organisation Ali Akbar Salehi Russian officials and contractors, Iran laid down the cornerstone of the second Bushehr Nuclear Plant, the New Khaleej reported yesterday.

Salehi had previously announced that construction of the second Bushehr Nuclear Plant would start yesterday and work on the third facility would begin soon.

11 Nov 2019; MEMO: Qatar Petroleum (QP) yesterday announced the launch of the Egyptian Refining Company (ERC)’s in the Mostorod refinery plant located in the north of the Egyptian capital city of Cairo.

“QP is pleased to announce a successful launch of the ERC’s refinery project in Mostorod,” the company told Russia’s Sputnik. QP owns 38.1 per cent of the Arab Refining Company, which in turn owns 66.6 per cent of the ERC.

HANGZHOU, China (Reuters) - Chinese retailer Alibaba Group Holding Ltd said on Monday that sales for its annual Singles’ Day shopping blitz crossed the $30 billion mark at 4:31 p.m. (0831 GMT), putting the event on track to set a record in its 11th year.

The figure is equivalent to over 80% of U.S. rival Amazon.com Inc’s online store sales in the latest quarter and matches takings across Alibaba’s e-commerce platforms on Singles’ Day last year.

OGUN, Nigeria, Nov 10 (NNN-XINHUA) – Chinese construction giant, China Civil Engineering Construction Corporation (CCECC), will build a rolling stock assembly plant in Nigeria, to promote the country’s railway modernisation project.

At a groundbreaking ceremony for the plant at Kajola, a town in the southwestern state of Ogun, Nigeria’s Vice President, Yemi Osinbajo, said, it is a “historic turning point” in Nigeria’s railway modernisation plan.

ANKARA, Nov 10 (NNN-ANADOLU) – Turkish President, Recep Tayyip Erdogan, and his Russian counterpart, Vladimir Putin, discussed Syria and bilateral relations over the phone, Turkey’s presidential office said.

Both leaders confirmed their commitment to the “Sochi deal” reached on Oct 22, between Ankara and Moscow, for the withdrawal of Syrian Kurdish fighters from the areas along the Turkish border in northern Syria.

Washington, Nov 10 (PTI) In a temporary relief to thousands of Indians living in America, a US court has refused to strike down, for the time being, an Obama-era rule that allowed spouses of H-1B visa holders to work in America.

The H-1B visa is a non-immigrant visa that allows the US companies to employ foreign workers in specialty occupations.

LONDON, Nov 9 (NNN-AGENCIES) — Moody’s on Friday downgraded the outlook for Britain’s debt, citing mounting policy challenges amid the Brexit debate.

The agency cut the outlook to negative from stable but kept the debt at the investment grade Aa2.

The ratings agency Fitch had similarly put Britain on “negative watch” in February.

Pointing to “paralysis that has characterized the Brexit-era policymaking process,” Moody’s said London has “struggled to cope with the magnitude of policy challenges that they currently face.”