KARACHI, Pakistan (Reuters) – An $11 billion penalty against Pakistan will be waived under a deal with Barrick Gold to restart the Reko Diq gold and copper mining project, Pakistan’s Finance Minister Shaukat Tarin said on Friday. He said the out-of-court deal with the Canadian mining company will bring in $10 billion in investment in…
FRANKFURT (Reuters) – Germany’s finance minister has called for fresh talks over a free trade agreement between the European Union and the United States, a newspaper reported on Sunday, aiming to revive discussions halted by former U.S. President Donald Trump. Trump ended negotiations over the so-called Transatlantic Trade and Investment Partnership (TTIP) and instead pressed…
By Saeed Azhar and Maha El Dahan DUBAI (Reuters) – Saudi Arabia’s state oil company Aramco, under pressure from the West to boost output amid soaring prices, pledged on Sunday to hike investments by around 50% this year as it reported a doubling in 2021 profits. Oil prices leapt 50% last year as demand recovered…
CAPE TOWN (Reuters) – A South African court has halted construction of Amazon’s new Africa headquarters after some descendants of the country’s earliest inhabitants said the land it would be built on was sacred. The Western Cape division of the High Court interdicted the project developer from continuing with works at the Cape Town site…
DUBAI(Reuters) – Saudi Arabian state oil giant Aramco on Sunday reported a more than doubling of annual net profit in 2021, boosted by higher oil prices, and announced plans to sharply lift capital expenditure in 2022. The oil giant has benefited from a more than 50% rise in crude prices last year, as increased COVID…
TOKYO (Reuters) – Norway’s sovereign wealth fund, the world’s largest, voted in favour of a shareholder proposal requesting Toshiba Corp solicit buyout offers from private equity firms ahead of an extraordinary meeting on March 24. The fund voted against the Japanese industrial conglomerate’s plan to break itself up by spinning off its devices business, a…
TOKYO (Reuters) – Norway’s sovereign wealth fund, Norges Bank Investment Management, voted in favour of a shareholder proposal requesting Toshiba Corp solicit buyout offers from private equity firms, according to a voting record. Norges, the world’s largest sovereign wealth fund, voted against the Japanese conglomerate’s plan to break itself up by spinning off its devices…
ZURICH (Reuters) – European Central Bank (ECB) policymaker Robert Holzmann told an Austrian newspaper that the bank could send a clear message about fighting inflation by raising interest rates before ending its stimulus programme of bond purchases. The ECB left rates steady this month and will be in no hurry to raise them, President Christine…
By Sanjeev Miglani NEW DELHI (Reuters) – India’s oil imports from the United States will rise by 11% this year, officials said on Saturday, as the severely energy-deficient country looks to secure supplies from producers around the world, including heavily sanctioned Russia. The surge in oil prices following Russia’s invasion of Ukraine last month threatens…
TOKYO (Reuters) -Japan’s Suzuki Motor plans to invest about 150 billion yen ($1.26 billion) to produce electric vehicles and batteries in India, Japanese media reported on Saturday. Japanese Prime Minister Fumio Kishida is visiting India on Saturday to meet his Indian counterpart Narendra Modi. Suzuki’s investment plan will be part of an announcement by Kishida…
