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Oil slips but seen ending week little changed on supply tightness
Oil prices eased on Friday but were poised to end the week largely steady after rebounding from a sharp drop earlier in the week, underpinned by expectations that supply will remain tight as demand recovers.
Brent crude futures fell 23…
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‘Pingdemic’ puts Britain’s food supply under strain
Britain’s supermarkets, wholesalers and haulers were struggling on Thursday to ensure stable food and fuel supplies after an official health app told hundreds of thousands of workers to isolate themselves after contact with someone with the…
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Ant-backed Zomato’s roaring India debut sets pace for Internet-based startups
Food delivery firm Zomato Ltd. shares on Friday nearly doubled in a stellar first listing of a local unicorn in India, setting the pace for a slew of such debuts by Internet-based startups that are thriving during the COVID-19 pandemic.…
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Oil climbs as risk appetite returns despite virus fears
Oil prices rose about 4 percent on Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in US oil inventories.
Brent crude futures gained $2.53, or 3.7…
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Generators business thrive in Iraq amid power cuts
Sweat drips from Aqeel Hassan as he tinkers with a labyrinth of wires that connect 270 homes in Baghdad’s sprawling Sadr City. It is a thankless job, but a crucial one amid another scorching heatwave.
His workplace is a humble shack…
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Kuwait to spend $65.1 billion on 19 strategic projects
Kuwait has allocated some 19.6 billion Kuwaiti dinars ($65.1 billion) covering 19 strategic projects during the current annual development plan, Al-Anba reported.
The newspaper catalogued progress on ten major projects, most notably the…
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Central banks, wealth funds going greener and more activist – ESG survey
The COVID-19 pandemic is accelerating a shift by central banks and sovereign wealth and public pension funds to greener and more activist investment strategies, one of the largest annual surveys of their behaviors showed.
The Global…
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Morocco’s economic growth to slow to 2.9% in 2022
Morocco’s economic growth is expected to slow to 2.9 percent in 2022 from a forecast 5.8 percent this year, the planning agency said on Monday.
The forecasts signal a recovery in domestic and foreign demand but remain shrouded in…
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NEOM aims to be world’s most competitive city
Saudi Arabia's NEOM is on a mission to become the world's most competitive free zone, said CEO Nadhmi Al-Nasr.
“NEOM is meant to be a model where this region will be a semi-independent free zone, it will have its own laws, it will have…
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OPEC+ members agree to raise output by 400,000 barrels a day from August
OPEC+, the oil producers alliance led by Saudi Arabia and Russia, has agreed a schedule of output increases to meet growing demand as the global economy recovers from the pandemic recession.
A special meeting arranged in Vienna endorsed…
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