The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg Russia “sincerely hopes†that a consensus on oil-output cuts will be formalised among the world’s biggest producers as talks to rescue global energy markets continue after Mexico balked at proposed measures, Interfax reports, citing Kremlin spokesman Dmitry Peskov. The Opec+ coalition, including Russia, were closing in on an unprecedented agreement to lower global crude production by about 10% after …
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April, 2020
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11 April
Coronavirus vaccine could be ready in six months: The Times
Bloomberg A vaccine against the coronavirus pandemic could be ready by September, according to a scientist leading one of Britain’s most advanced teams. Sarah Gilbert, professor of vaccinology at Oxford University, told The Times on Saturday that she is “80% confident†the vaccine would work, and could be ready by September. Experts have warned the public that vaccines typically take …
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11 April
Australia to boost oil stock to support global market
Bloomberg Australia will increase its oil stock through an agreement with the US to help support the global market, following a video conference with G-20 energy ministers. Energy markets in Australia were operating safely, securely and the government is working with the sector to maintain supply for electricity, gas and liquid fuels, Energy Minister Angus Taylor said in a statement. …
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11 April
India to extend virus lockdown to April 30
Bloomberg India is set to extend its 21-day nationwide lockdown until April 30 to allow authorities, health workers more time to control growing spread of Covid-19 infections. Delhi’s chief minister Arvind Kejriwal said on Twitter Prime Minister Narendra Modi — who was meeting with state leaders via video conference on Saturday — made the right decision to extend the lockdown, …
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11 April
Trump exhorts allies to ‘Buy American’ first
Bloomberg The Trump administration has a plan for helping drain US storage tanks filling up with crude: Persuade other countries to buy those American barrels first. That “Buy American†pitch is coming in the form of administration officials exhorting foreign allies to prioritise US crude. The effort involves both the departments of Energy and State, said two people familiar with …
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11 April
Australia to boost oil stock in support of global market
Bloomberg Australia will increase its oil stock through an agreement with the US to help support the global market, following a video conference with G-20 energy ministers. Energy markets in Australia were operating safely and securely and the government is working with the sector to maintain supply for electricity, gas and liquid fuels, Energy Minister Angus Taylor said in a …
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11 April
Cairn, Pharos advance in Shell Egypt assets deal
Bloomberg A consortium of Cairn Energy Plc, Pharos Energy Plc and Egypt’s Cheiron Petroleum has proceeded to a second round of bidding for Royal Dutch Shell Plc’s onshore assets in the African country, in a deal that could value the business at as much as $1 billion, people familiar with the matter said. Shell is proceeding with the planned sale …
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11 April
Nigeria ending fuel subsidies
Bloomberg Nigeria is ending decades of subsidies paid to ensure uniform gasoline prices in Africa’s biggest oil producer with crude prices at historical lows, the state-owned energy company said. Official gasoline prices have been cut twice in as many weeks, a move the Nigerian National Petroleum Corp (NNPC) said was intended to bring them in line with the current market …
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11 April
Apple, Google team up on Covid-19 contact-tracing tech
Bloomberg Apple Inc and Google unveiled a rare partnership to add technology to their smartphone platforms that will alert users if they have come into contact with a person with Covid-19. People must opt in to the system, but it has the potential to monitor about a third of the world’s population. The technology, known as contact-tracing, is designed to …
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11 April
Apps merge as race to control deliveries heats up in LatAm
Bloomberg Latin America’s delivery app wars are intensifying as Brazil’s iFood and a unit of Delivery Hero SE said they will merge operations in Colombia, setting up a battle with SoftBank-backed Rappi Inc on its home turf. Sao Paulo-based iFood and Domcilios.com, a subsidiary of Delivery Hero, said the merger will create one of the largest food delivery companies in …
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