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Moody’s gives Modi a boost by raising India’s sovereign bond rating

JK NNI NEWS REUTERS MUMBAI/BENGALURU: Moody’s Investors Service upgraded its ratings on India’s sovereign bonds for the first tim e in nearly 14 years on Friday, saying continued progress on economic and institutional reform will boost the country’s growth potential. The agency said it was lifting India’s rating to Baa2 from Baa3 and changed its rating outlook to stable from ...

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Experts: 700 new companies needed to cover Umrah market

JK NNI NEWS TARIQ AL-THAQAFI MAKKAH: Experts expect that the number of Umrah companies in Saudi Arabia will increase from 48 to 700 to meet the Kingdom’s vision of increasing Umrah and Hajj pilgrims to 30 million by 2030. Marwan Shaaban, the head of the National Committee for Hajj and Umrah, said that new Umrah companies could benefit from the ...

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China’s Silk Road revival hits the buffers

JK NNI NEWS AFP SINGAPORE: From a stalled Indonesian rail project to an insurgency-threatened economic corridor in Pakistan, China’s push to revive Silk Road trade routes is running into problems that risk tarnishing the economic crown jewel of Xi Jinping’s presidency. The “One Belt, One Road” initiative, unveiled by Xi in 2013, envisages linking China with Africa, Asia and Europe ...

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First pineapple farm opens in Gaza

JK NNI NEWS AFP KHAN YUNIS, Palestinian Territories: Pineapples are being harvested in the Gaza Strip for the first time as part of efforts to help the impoverished Palestinian territory work toward food self-sufficiency. The fruit, for domestic sale, is grown in a 1,000-square-meter greenhouse in the southern Gaza Strip town of Khan Yunis as part of a project sponsored ...

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India gold demand to hit lowest in 8 years in 2017, WGC says

JK NNI NEWS IANS MUMBAI: India’s gold consumption is likely to drop to its lowest in eight years in 2017, hit by government moves to make bullion trading more transparent and by faltering demand from some rural areas, the World Gold Council (WGC) said on Thursday. Evidence of weaker appetite in a country where gold is used in everything from ...

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Saudi Arabia wants to be top tourism destination for Muslim travelers

JK NNI NEWS IANS LONDON: Saudi Arabia wants to be the top global destination for Muslim tourists by the end of the decade according to a top official. It comes amid a massive push to develop the Kingdom’s Red Sea coastline and maximize tourism spending among the millions of Muslims who already visit the Kingdom each year as part of ...

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Oil prices edge down from near 2-1/2 year high

JK N NI NEWS IANS TOKYO: Oil prices edged lower on Tuesday after posting the biggest gains in six weeks a day earlier, buoyed by moves by Saudi Arabia’s crown prince to tighten his grip on power and rising tensions between the kingdom and Iran. US West Texas Intermediate (WTI) crude slipped 10 cents, or 0.2 percent, to $57.25 a ...

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Facebook knows it has 270 million fake accounts

JK NNI NEWS IANS Already under lens for its role in Russia’s meddling into the 2016 US election, Facebook has admitted that up to 270 million accounts on the platform are either fake or duplicate. The social media giant this week released its third quarter earning and buried in those results, it disclosed that there are tens of millions more ...

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Pemex makes Mexico’s biggest onshore oil find in 15 years

JK NNI NEWS IANS MEXICO CITY: Mexico’s national oil company Pemex has made its biggest onshore oil discovery in 15 years with a find in the eastern state of Veracruz, President Enrique Pena Nieto said on Friday. Pena Nieto said Pemex made the discovery by drilling its onshore Ixachi well, near the municipality of Cosamaloapan, and that the overall field ...

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