County Gulf Financial News

commerce ministry is working to address issues related to non-tariff barriers and market access for domestic products in sub-Saharan African countries like Nigeria, Ethiopia, Ghana and Gulf nations to boost India's exports, an official said. The official said meetings have been held with Indian missions of the sub-Saharan African countries with which India has significant bilateral trade. The major trading partners of India in that region in 2022-23 were South Africa (total trade USD 18.9 billion, exports USD 8.5 billion); Nigeria (USD 11.85 billion, exports USD 5.15 billion); Togo (USD 6.6 billion, exports USD 6 billion), and Tanzania (USD 6.5 billion, exports USD 3.93 billion). The other countries were Mozambique (USD 5 billion, exports USD 2.5 billion); Angola (USD 4.22 billion, exports USD 621 million); and Kenya (USD 3.4 billion, exports USD 3.2 billion). «A virtual meeting with Indian Mission of top 10 countries (bilateral trade-wise) in sub-Saharan African region was held in September to discuss the overall economic and commercial relations with those countries, export performance and non-tariff barriers which are acting as impediments to bilateral trade and enhance exports,» the official said. A similar meeting was also held with Indian Missions in GCC countries. GCC is a union of six countries in the Gulf region — Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and Bahrain.

By Ateeq Shariff

Aden, Yemen, on Sunday, authorities said. While no group immediately claimed responsibility, it comes as at least two other maritime attacks in recent days have been linked to the Israel-Hamas war. The attackers seized the Central Park, managed by Zodiac Maritime, in the Gulf of Aden, the company and private intelligence firm Ambrey said.

(Reuters) — Around 61,165 barrels of daily oil output from at least six producers, making up about 3% of crude oil production in the Gulf of Mexico, has been shut in by Third Coast Infrastructure's underwater pipeline leak, the U.S. Coast Guard said on Wednesday.

As much as 1.1 million gallons of oil may have been discharged into the Gulf of Mexico from a pipeline system off Louisiana’s southeast coast

SpaceX launched its mega rocket Starship but lost both the booster and the spacecraft in a pair of explosions minutes into a second test flight

Far off the Texas coast there is a beautiful surprise in the Gulf of Mexico that draws divers from around the world: a stunning amount of coral coverage on undersea mountains

India's G20 sherpa, Amitabh Kant, has said the India-Middle East-Europe Economic Corridor (IMEC) will be a resounding success, despite the Israel-Hamas conflict casting a shadow over its viability. «India will continue to play a central role, balancing interests and aligning incentives to ensure IMEC reshapes global trade,» Kant told ET, adding that the project is resilient enough to withstand the current turbulence in the Middle East. Minted in New Delhi on the sidelines of the G20 summit in September, this ambitious geo-economic and geo-strategic project is designed with two components — an eastern corridor connecting India to the Gulf region, and a northern corridor that will link the Gulf to Europe through a ship-rail transit network and road transport routes. «Despite the ongoing geopolitical tensions, on which India's position has been made clear at the United Nations, we should focus on the long-term significance of projects such as IMEC,» said Kant.

Elon Musk-owned company's Starbase launch site near Boca Chica in Texas, boosting the Starship spacecraft roughly 55 miles (90 km) above ground on a planned 90-minte flight into space. But the rocket's Super Heavy first stage booster, though it appeared to achieve a crucial maneuver to separate with its core Starship stage, exploded over the Gulf of Mexico shortly after detaching, a SpaceX webcast showed.

Pakistan over the past two years. The Pakistani government and the banned militant organizations associated with it have remained silent about these killings.

SpaceX is poised Saturday for the second test launch of Starship, the largest rocket ever built that Elon Musk hopes will one day colonize Mars, while NASA awaits a modified version to land humans on the Moon. It comes after a first attempt to fly the spaceship in its fully-stacked configuration back in April ended in a spectacular explosion over the Gulf of Mexico. SpaceX has insisted that explosions during the early stages of rocket development are welcome and help inform design choices faster than ground tests — though time is ticking down for a modified Starship to be ready for a planned lunar landing in 2025. Blast off from the company's Starbase in Boca Chica, Texas, is set for 7:00 am local time (1300 GMT) with a launch window of 20 minutes. The event will be live streamed on both SpaceX's website and on X, the social media platform owned by Musk. When the two stages of Starship are combined, the rocket stands 397 feet (121 meters) tall — beating the Statue of Liberty by a comfortable 90 feet. Its Super Heavy booster produces 16.7 million pounds (74.3 Meganewtons) of thrust, almost double that of the world's second most powerful rocket, NASA's Space Launch System (SLS) — though the latter is now fully operational. Both systems are designed to be fully reusable, a key element of SpaceX's design meant to greatly reduce costs.

A federal appeals court has ordered the Biden administration to carry on with an auction of oil and gas drilling leases for Gulf of Mexico waters in 37 days — rejecting arguments by environmentalists

Karoon Energy is raising around $US300 million ($460 million) via Macquarie Capital, to fund the purchase of assets in the Gulf of Mexico from the privately held LLOG Exploration Company.

By Roxanne Liu and Kane Wu

Also Read: Excitement and worry as stock options trading booms in India Dubai Taxi’s IPO will be the first share sale by the government in more than 12 months, after it raised $8.3 billion selling stakes in four state-owned companies in 2022, including the city’s main water and electricity utility. The IPOs are part of a plan unveiled about two years ago to list 10 state-owned companies in a bid to boost flagging trading volumes and catch up with IPO drives in Abu Dhabi and Riyadh. Dubai paused the listings this year, contributing to a drop in the overall IPO volumes in the Middle East.

By Md Manzer Hussain

FRANKFURT (Reuters) — German Foreign Minister Annalena Baerbock said on Saturday in Tel Aviv that the international community should focus on limiting the impact of military operations in Gaza on the civilian population.

More than $280 billion in federal COVID-19 aid was potentially plundered.

Onafriq is using Ripple’s crypto-enabled payments technology to open up three new payments corridors between Africa and the rest of the world.Customers of PayAngel in the UK, Pyypl in the Gulf Cooperation Council, and Zazi Transfer in Australia can use the technology for remittance and business payments to recipients in 27 countries across Onafriq’s pan-African network.The firms say that their partnership will bring faster, more efficient, and cost-effective international money transfers to Africa, accelerating financial inclusion across the continent.Dare Okoudjou, CEO, Onafriq, says: “Our mission is to make borders matter less when it comes to payment within, to, and from Africa.

Crypto payments giant Ripple has partnered with fintech Onafriq for cross-border payments between Africa and the rest of the world.

Ripple will power new payment corridors between 27 African countries and Australia, the United Kingdom and the Gulf Cooperation Council (GCC) under a deal with African mobile payments provider Onafriq.