Business

Business & Economy

Chile’s poor clash with police amid concerns over food shortages

SANTIAGO, May 19 (NNN-AGENCIES) — Police and protesters clashed in Santiago amid a city-wide lockdown meant to stem the spread of the coronavirus as local officials warned that food shortages had hit one of the Chilean capital’s poorest neighborhoods.

A group of protesters threw rocks, shouted and burned piles of wood along a street in the destitute neighborhood on Santiago’s southern fringe. Images on social media and local television showed police spraying tear gas and water cannons to disperse the growing crowd.

Saudi debts increased 1500% during Salman's rule

18 May 2020; MEMO: Saudi’s national debt has increased 1,500% since King Salman came to power in 2015 according to data released by the World Bank.

At the end of 2019, the kingdom’s debt reached $183.7 billion, compared to $11.8 billion in 2014; a rise of over 1,560 per cent, according to data collected by Arabi21.

Delhi metro to remain shut till May 31

New Delhi, May 17 (PTI) Metro services will remain closed for commuters till May 31, in view of the lockdown extension, the Delhi Metro Rail Corporation (DMRC) said on Sunday.

The ongoing countrywide lockdown has been extended till May 31, the National Disaster Management Authority (NDMA) announced on Sunday.

In an order, the NDMA said lockdown measures need to be implemented for a further period of 14 days in the country to contain the spread of COVID-19.

Malaysia: O&G exploration to remain muted 2020 – Bumi Armada

KUALA LUMPUR, May 18 (NNN-BERNAMA) — Offshore oil and gas (O&G) exploration activities is expected to remain muted in 2020, given the current lower oil price and demand environment amidst the COVID-19, says Bumi Armada Bhd.

Its chairman, Tunku Ali Redhauddin Ibni Tuanku Muhriz said the COVID-19 pandemic has had a significant impact on the global economy.

Northern Cyprus slams EU declaration on East Mediterranean

17 May 2020; MEMO: The premier of the Turkish Republic of Northern Cyprus (TRNC) on Saturday slammed the EU declaration urging Turkey to “respect EU countries’ maritime jurisdiction and sovereignty in territorial waters.”, Anadolu reports.

“It is a violation of law and lack of vision that the EU still adopts a pro-Greek Cyprus attitude and ignore the rights of Turkish Cypriot and Turkey in the Eastern Mediterranean,” said Prime Minister Ersin Tatar.

India: Govt to auction six more airports under PPP model: FM

New Delhi, May 16 (PTI) The government will soon start auctioning of six more airports under public private partnership and additional investment by private players in total of 12 airports will be around Rs 13,000 crore, Finance Minister Nirmala Sitharaman said on Saturday.

Airports Authority of India (AAI) has already awarded three out of the six aerodromes that were bid out for operation and maintenance under public private partnership (PPP).

India: Govt moving in wrong direction, has dearth of ideas: BMS

New Delhi, May 16 (PTI) Objecting to the fourth tranche of the economic package announced by Finance Minister Nirmala Sitharaman on Saturday, RSS-affiliate Bharatiya Mazdoor Sangh said the government is moving in the "wrong direction" and has "dearth of ideas".

The Union minister on Saturday announced the easing of limits on foreign direct investment in defence manufacturing, privatisation of six airports, opening up of more air space and allowing private sector in commercial coal mining.

India: Govt to suspend new bankruptcy filings for a year: FM

New Delhi, May 17 (PTI) The government on Sunday announced suspension of new bankruptcy filings on loan defaults for one year and raised the threshold for insolvency as it moved to ease COVID-19 pain for the industry.

It also announced a new policy for companies under state control saying public sector undertakings under the non-strategic sector will be privatised while those in the identified strategic sector would be capped by not more than four by merging some of them.

Towers Construction Of World's Longest Suspension Bridge In NW Turkey Completed

ISTANBUL, May 17 (NNN-ANADOLU) – The construction of a bridge, which will connect Asia and Europe in northwestern Turkey, advanced to a next phase on Saturday with the completion of its towers.

A ceremony was held for the installation of the last steel block of 318-metre towers of the Canakkale 1915 Bridge, in the Canakkale province.

Turkish President, Recep Tayyip Erdogan, attended the ceremony via video-conference from Istanbul.

Subscribe to Business