Business

27 Feb 2022; MEMO: Saudi Aramco has discovered natural gas fields in four regions of the kingdom, the Saudi Press Agency reported on Sunday, citing Energy Minister Prince Abdulaziz bin Salman.

The fields were found in the central area of the kingdom, in the Empty Quarter desert, near its northern border and in the eastern region, he said, according to the state news agency.

27 Feb 2022; MEMO: Russia's invasion of Ukraine could lead to bread shortages across parts of the Arab world, including war-torn Yemen, where millions are already on the brink of starvation.

According to a special briefing by the US-based Middle East Institute (MEI) earlier this week, "the Ukraine crisis could trigger renewed protests and instability in several MENA countries."

28 Feb 2022; MEMO: Qatar Airways has asked a UK court to reinstate an order for 50 Airbus A321neo passenger jets that the European planemaker revoked as part of a bitter dispute over the partial grounding of larger A350s, a court filing showed on Friday, reported Reuters.

28 Feb 2022; MEMO: The Algerian Oil and Gas Group (Sonatrach) has expressed its readiness to supply Europe with additional quantities of gas through the gas pipeline linking Algeria and Italy, should Russian exports be reduced due to the war in Ukraine, the company's CEO said yesterday.

In an interview with French newspaper La Liberté, Toufik Hakkar said that Sonatrach "is a reliable gas supplier for the European market and it is ready to support its partners in the long term in case the situation deteriorates."

BEIJING, Feb. 28 (Xinhua) -- China has maintained its position as the world's largest manufacturing hub for 12 straight years, the Ministry of Industry and Information Technology (MIIT) said on Monday.

The value-added output of the manufacturing sector in 2021 increased 9.8 percent year on year to 31.4 trillion yuan (about 4.97 trillion U.S. dollars), accounting for 27.4 percent of the country's GDP, MIIT Minister Xiao Yaqing told a press conference.

Feb 28 (Reuters) - Iran said on Monday that reviving a 2015 nuclear deal is possible if Western powers take a political decision to resolve three remaining issues, as indirect negotiations between Tehran and Washington enter a crucial stage.

Iran's foreign ministry spokesman identified the remaining outstanding issues as: the extent to which sanctions would be rolled back, providing guarantees that the United States will not quit the pact again, and resolving questions over uranium traces found at several old but undeclared sites in Iran.

WASHINGTON, Feb 27 (Reuters) - Federal authorities are reinstalling fencing around the U.S. Capitol as Washington prepares for planned trucker protests inspired by demonstrations in Canada against COVID-19 pandemic-related restrictions, police said on Sunday.

SEOUL, Feb 28 (Reuters) - South Korea will tighten export controls against Russia by banning shipments of strategic items and join Western countries' moves to block some Russian banks from the SWIFT international payments system, Seoul's foreign ministry said on Monday.

"The Korean government condemned Russia's armed invasion of Ukraine and, as a responsible member of the international community, decided to actively participate in the international community's efforts, including economic sanctions, for a peaceful resolution of the situation," the ministry said in a statement.

LONDON, Feb 28 (Reuters) - World stocks slid, oil prices jumped and the rouble tanked to fresh record lows on Monday, as the West ramped up sanctions against Russia for its attack on Ukraine that included blocking banks from the SWIFT global payments system.

Russia's central bank raised its key interest rate to 20% from 9.5% in an emergency move, and authorities told export-focused companies to be ready to sell foreign currency as the rouble slid almost 30% to record lows versus the dollar.

Moscow, Feb 28 (AP) Russia's Central Bank has sharply raised its key rate from 9.5% to 20% in a desperate attempt to shore up the plummeting ruble and prevent the run of banks amid crippling Western sanctions over the Russian war in Ukraine.