Browsing: Business

A prominent Turkish businessman has been sanctioned by the Biden administration for violating U.S. restrictions on the sale of Iranian oil, the Associated Press reports. Several companies controlled by Sitki Ayan and his family and associates were penalized by the

As the global energy crisis spurs new policies aimed at cutting reliance on fossil fuels, global government spending on clean energy has risen by more than $500 billion since March, according to the IEA. With this increase, governments have allocated

The UAE issued Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax Law”). From 1 June 2023, businesses will be subject to UAE Corporate Tax (“Corporate Tax”). The UAE’s corporate tax regime imposes

The Jordanian Ministry of Planning and International Cooperation signed a Memorandum of Understanding (MoU) for a 15 billion JPY ($110 million) soft loan provided by the Japanese government to support the general budget of Jordan. As part of Japan’s pledge

Pakistan has requested Saudi Arabia to urgently provide $3 billion in cash after its foreign exchange reserves fell to a critically low level. During his maiden visit to the country, the country’s army chief is expected to play a role

In order to achieve its goal of nearly tripling the country’s clean-power capacity by 2030, the Indian government, under Prime Minister Narendra Modi, has unveiled a Rs 2.44 lakh crore ($29.6 billion) plan to build transmission lines for renewable generation

Considering India’s increased resilience to global shocks, the World Bank raised its GDP growth forecast for FY23 to 6.9%. In its India Development Update, the World Bank stated that the revision was due to the Indian economy’s increased resilience to

Since last week, Iran has stopped signing any deals to import tea and basmati rice from India. The reason for this sudden stoppage has not been clarified by Iranian buyers, but Indian exporters believe it is due to strong anti-hijab

As the first of a new fleet of long-range stealth nuclear bombers for the United States Air Force, Northrop Grumman Corp unveiled its next-generation B-21 Raider jet. In Palmdale, California, the B-21 was unveiled during a dramatic ceremony at Northrop’s

According to an official from the Indian Oil Ministry, the country will continue to purchase Russian crude oil even after the embargo and price cap are implemented on December 5. India has consistently stated its intention to purchase whatever crude