Business

06 April 2022; MEMO: Ukraine received almost 30 times as much defence industry equipment from Turkey in the first quarter as it did a year earlier, while it prepared for and fought against Russian invasion, official data showed, and Anadolu News Agency reports.

According to the report, Turkey exported $59.1 million of such products to Ukraine in the period, compared with $1.9 million in the first quarter of 2021, data published by the Turkish Exporters' Assembly showed.

06 April 2022; MEMO: Turkey is to appoint a new ambassador to Egypt, after leaving the position vacant for almost nine years, as the two countries approach closer reconciliation.

According to an anonymous senior Turkish official who spoke to the news organisation, Middle East Eye, the diplomat to be appointed as ambassador to Cairo will be Salih Mutlu Sen, Ankara's former representative to the Organisation of Islamic Cooperation (OIC).

06 April 2022; MEMO: Turkish exports to Saudi Arabia spiked by 25 percent in the first quarter of 2022, as the two countries continue to make efforts to reconcile and improve relations after years of tension.

According to data released by the Turkish Exporters' Assembly (TIM) this week, Turkiye's exports increased from around $55 million in the first three months of last year to almost $70 million during the same period this year.

04 April 2022; MEMO: Lebanon as a State, and its Central Bank, has gone bankrupt, according to Deputy Prime Minister, Saadeh Al-Shami.

"The State has gone bankrupt as did the Banque du Liban, and the loss has occurred, and we will seek to reduce losses for the people," Al-Shami told the local Al-Jadeed channel.

He said the losses will be distributed among the State, the Banque du Liban, banks and depositors.

"There is no conflict of views about the distribution of losses," he added.

OTTAWA, Apr 6 (NNN-AGENCIES) – The various trade sanctions against Russia, indirectly drove up Canadian export values, with higher demand and substantial price increases, Statistics Canada said yesterday, publishing trade data in Feb, with crude oil contributing the most to the export growth.

Washington, Apr 6 (PTI) India is unlikely to follow the American advice on pursuing an alternative option to defence and energy procurement from Russia, a leading American global strategy and commercial diplomacy firm said Tuesday.

In a report on India, the prestigious Albright Stonebridge Group (ASG) said that it has heard from involved officials that there is disappointment with India's neutral approach to Russia.

New Delhi, Apr 6 (PTI) CNG prices in Delhi, Mumbai and Gujarat on Wednesday saw steep hikes after the government raised input natural gas prices to record levels.

Mahanagar Gas Limited (MGL) raised compressed natural gas (CNG) price by Rs 7 per kg to Rs 67 per kg in Mumbai while Gujarat Gas hiked rates by Rs 6.5 per kg to Rs 76.98.

In the national capital, Indraprastha Gas Ltd (IGL) raised CNG price by another Rs 2.5 per kg, taking the total increase in rates in the last one month to about Rs 10 per kg.

06 April 2022; MEMO: Egyptian President Abdel Fattah Al-Sisi yesterday announced that his country's wheat stock for domestic consumption was "sufficient for the next four months."

"Egypt's total wheat trade amounts to 18 million tonnes annually on average," Al-Sisi told reporters, adding that around two million tonnes are being "lost annually as a result of storage-related reasons."

06 April 2022; MEMO: The Central Bank of Morocco, the Foreign Exchange Authority and the Capital Market Authority have called on Moroccans to comply with laws that prohibit the use of cryptocurrency.

The regulators said in a joint statement issued yesterday that "despite previous warnings regarding the risks associated with the use of cryptocurrencies such as Bitcoin, it has been observed that some continue to use this type of operation."

06 April 2022; MEMO: An Irish factory which specialises in electrical parts and car cables has decided to suspend its activities in Ukraine and relocate to other countries, including Morocco, the Moroccan television website SNRTnews reported.

According to the station, Aptiv, which is based in Dublin, will move production to Poland, Romania, Serbia and Morocco.

"The process of moving production outside Ukraine will take more than six weeks," it added.