Bloomberg Oil steadied near a three-month high on cautious optimism that a preliminary trade deal between the US and China will support global fuel consumption. Futures held near $60 a barrel in New York after settling at the highest since September 16. While the partial trade deal leaves most of the tariffs built up over the 20-month conflict in place, …
Read More »BRUSSELS / WAM During a forum held in Brussels, attended by Omar Ghobash, Deputy Minister of Foreign Affairs and International Cooperation for Cultural Affairs, European parliamentarians and representatives of various religions called for the continued implementation and monitoring of the Document on Human Fraternity for World Peace and Living Together. The document was signed on February 4, 2019 in Abu …
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Bloomberg Saudi Aramco shares advance for a third session — though the market valuation remained below $2 trillion — with investors focusing on energy company’s inclusion in major global equity indexes this week. The stock climbed 1.6% in Riyadh, extending gains since it started trading on Wednesday to 17%. The main Saudi index also advanced, along with most peers in …
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NEW DELHI / WAM The Indian state of Madhya Pradesh has announced plans for developing economic relations with the Arabian Gulf countries. The state government will organise a ‘Mini-Investors’ Meet’ next year in the state capital Bhopal, which will be exclusively focused on enhancing investment ties with the Gulf. This was announced in a report on the outcome of the …
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Abu Dhabi / WAM Held under the patronage of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs, Chairman of Abu Dhabi Agriculture and Food Safety Authority (Adafsa), the 10th anniversary edition of Sial Middle East, one of the largest food, beverage and hospitality events in the region, and the fifth edition of Abu Dhabi …
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Bloomberg The US and China agreed to the first phase of a broader trade agreement that will see the US reduce tariffs, and at least temporarily calm fears of an escalating trade war between the world’s two largest economies. The deal announced hinges on China increasing purchases of American farm goods such as soybeans, and making new commitments on intellectual …
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Bloomberg A new law on Indian citizenship is threatening to pull Prime Minister Narendra Modi’s focus away from a flagging economy as protests and criticism builds against the divisive plan. The government was forced to call in the army to quell protests in some parts of the country after the parliament passed legislation that will prevent undocumented Muslim migrants from …
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Bloomberg Oil settled above $60 a barrel for the first time since missile strikes on Saudi Arabia sparked a record price surge three months ago. Futures closed 1.5% higher in New York, buoyed by a partial truce in the US-China trade war that has imperiled demand all year. “The market has just priced in this outcome to a certain extent …
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Bloomberg India’s Parliament approved a controversial bill that prevents illegal Muslim migrants from neighbouring countries from receiving citizenship after hours of heated debate among lawmakers and protests in some parts of the country. The bill, which offers amnesty to non-Muslim illegal migrants from three neighbouring countries, was approved in the upper house of Parliament on Wednesday after it secured more …
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FUJAIRAH / WAM Refined oil product stocks at the Middle Eastern hub of Fujairah rose 2.5 percent in the week to December 9 on the back of increased gasoline and other light distillate stockpiles, according to data released on Wednesday by the Fujairah Oil Industry Zone, FOIZ. Total inventories rose to 21.337 million barrels during the last week, bringing the …
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