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Kuwait nominates former governor as new OPEC chief
Kuwait has nominated its former governor to the Organization of the Petroleum Exporting Countries (OPEC), Haitham al-Ghais, to lead the oil producer group after Mohammad Barkindo's term as secretary general, two sources close to the matter…
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Indonesian president in UAE to woo investment ahead of capital city relocation
Indonesia’s president was on Wednesday hoping talks in the UAE would help provide a crucial investment shot-in-the-arm toward driving forward plans to relocate his country’s capital from Jakarta to the island of Borneo.
Joko Widodo wants…
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Google to allow third party app payments for first time in South Korea
Alphabet’s Google said on Thursday it plans to allow third-party payment systems in South Korea to comply with a new law, marking the first time the US tech giant has amended its payment policy for a specific country.
Google’s…
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19 nations plan to end public financing of fossil fuel projects
The British government was in last-minute talks on Wednesday with at least 19 countries in an attempt to build a coalition commitment at the COP26 climate summit to stop public financing for fossil fuel projects abroad by the end of next…
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UK plans to become world’s first net zero finance hub
The UK plans to become the world’s first net zero-aligned financial center, the Treasury announced on Tuesday.
Under the proposals, UK financial institutions and listed companies will be required to publish their net zero-transition…
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Dubai announces new financial market initiatives
Dubai on Monday announced the listing of 10 government and state-owned companies on the Dubai Financial Market, in an effort to accelerate new listings in various sectors including energy, logistics and retail.
Sheikh Maktoum bin…
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Saudi Arabia and Oman sign deal to develop land, air transport
Saudi Arabia and Oman on Monday signed two agreements to enhance cooperation in land and air transport.
“The memorandums of understanding aim to exchange experiences between the two sides and enhance cooperation in these sectors,” the…
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Ryanair posts first quarterly profit since 2019, but sees annual loss
Ryanair reported on Monday its first quarterly profit since before the onset of COVID-19, but it downgraded its annual forecast to a loss of up to 200 million euros ($231 million) as it sells discounted tickets to fill its planes over the…
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Oil falls after China releases reserves of gasoline, diesel
Oil prices fell on Monday after China said it released reserves of gasoline and diesel to boost supply, while investors unwound long positions ahead of an OPEC+ meeting on Nov. 4.
China released reserves of the two fuels to increase…
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Saudi Aramco tops Apple, Google to be world’s most profitable company in Q3
Saudi Aramco is the world's most profitable company in Q3, beating tech giants such as Google, Amazon and Apple, as well as other listed energy companies such as ExxonMobil and Shell.
Thanks to the recent increase in oil prices, the…
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