Business

24 July 2020; MEMO: The Iraqi Oil Marketing Company (SOMO) yesterday denied reports claiming it had violated the OPEC+ production cut agreement in July.

New York, Jul 23 (AP/PTI) The operator of Ann Taylor and Lane Bryant filed for Chapter 11 bankruptcy protection on Thursday, the latest retailer to do so during the pandemic.

Mahwah, New Jersey-based Ascena Retail Group Inc., which operates nearly 3,000 stores mostly at malls, had been dragged down by debt and weak sales for years.

Washington, Jul 24 (PTI) The United States has proposed to help India in addressing its most serious developmental challenges through innovative finance tools, a top Trump Administration official has said.

We are actually right now proposing at US-India Development Foundation where we would help India mobilize their own resources to address the country's most serious developmental challenges looking to use innovative finance tools," USAID Acting Administrator John Barsa told members of the House Foreign Affairs Committee on Thursday.

Beijing, Jul 24 (PTI) China on Friday asked the US to close down its Consulate in Chengdu in retaliation to Washington's decision to shut the Chinese Consulate in Houston.

A statement by the Chinese Foreign Ministry said China has informed the US Embassy here of its decision to withdraw its consent for the establishment and operation of the US Consulate General in Chengdu.

New Delhi, Jul 24 (PTI) Vistara said on Friday it had received its first A321neo aircraft, which has 188 seats in three-class cabin configuration, from Airbus' Hamburg production facility.

The A321neo is a narrow-body aircraft that can be used on short to medium-haul international routes that are within seven hours of flying time.

23 July 2020; MEMO: Iran is likely to extend its “20-year cooperation agreement” with Russia, which is due to expire in March 2021, the Iranian foreign minister announced yesterday.

Mohammad Javad Zarif’s remarks came after a cabinet meeting in the Iraninan capital city of Tehran, during which he discussed the results of his meeting with Russian officials during his one-day visit to Moscow on Tuesday.

23 July 2020; MEMO: Sudanese Prime Minister Abdalla Hamdok announced long-awaited economic and political reforms on Wednesday aimed at rescuing the country’s economy and keeping its civilian transition on track after the ouster of Omar al-Bashir last year, Reuters reports.

23 July 2020; MEMO: French Foreign Minister Jean-Yves Le Drian is expected to urge Lebanon to enact badly-needed reforms to help get the country out of an acute financial crisis during a visit to Beirut which started on Thursday with a meeting with President Michel Aoun, Reuters reports.

Bengaluru, Jul 23 (PTI) Wipro Limited announced on Thursday it will launch its 5G edge services solutions suite which is built with IBM TRIRIGA and IBM Edge Application Manager.

Wipro will engage with clients to implement the Universal Edge solutions suite that leverages 5G network capabilities, the Bengaluru-headquartered company said in a statement.

The 5G edge services solutions suite is designed to significantly enhance Wipro's existing BoundaryLess Enterprise

Universal Edge portfolio, it said.

Washington, Jul 23 (PTI) Five top trade bodies, including the US Chamber of Commerce and National Association of Manufacturers, have filed a lawsuit challenging the presidential proclamation suspending for the rest of the year new non-immigrant visas that include the H-1B, the most sought-after among Indian IT professionals.