Friday , 2 January 2026

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Oil drops from 15-month high on uncertainty over Russian stance

  Bloomberg Oil fell from a 15-month high amid uncertainty over whether Russia would join an OPEC deal to curb supply. Futures fell as much as 1.4 percent in New York after climbing 3.1 percent Monday. Russia’s biggest producer Rosneft PJSC said it won’t reduce output, according to Reuters, after President Vladimir Putin said his country is willing to join …

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Russia, Turkey agree to build gas pipeline under Black Sea

  Bloomberg Russia and Turkey agreed to build a natural-gas pipeline under the Black Sea that could be up and running by the end of 2019, capitalizing on a recent improvement in relations between the two nations. Approval for Turkish Stream — a dual pipeline project consisting of one link serving the Turkish market and another one possibly to southern …

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Islamic finance body looks to finalise new standards by year-end

  Reuters The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) plans to finalize several new standards by the end of the year, as the standard-setting body works through a revamp of its guidance for the $2 trillion industry. Bahrain-based AAOIFI has published a draft sharia standard for gold-based products with a one month consultation period ending Nov. 9, …

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