Bloomberg Oil rose near $34 a barrel following Russia’s prediction that the market may balance as early as next month as global producers take historic amounts of crude out of the market. Russia, a key member of the Opec+ alliance that has pledged record output cuts, expects the market to balance in June or July. Energy Minister Alexander Novak said ...

ABU DHABI / WAM The Federal Tax Authority (FTA) issued a decision to postpone implementation of the ban on supplying, transferring, storing, and possession of water pipe tobacco and electrically heated cigarettes in the UAE that do not carry digital tax stamps until January 1, 2021. The ban had previously been scheduled to come into effect on June 1 this ...

Bloomberg The Philippines’ Trade Department wants lawmakers to pass a 1.3-trillion peso ($26 billion) stimulus package that will aid the recovery of industries and their displaced workers. Of the total stimulus being discussed at the House of Representatives, about 628 billion pesos is planned for wage subsidies and loans for businesses hit by the lockdown, the Trade Department said in ...