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Saudi energy think tank urges global cooperation
The study comes amid moves in the international energy community for some form of combined approach by the three big producers — Saudi Arabia, the US and Russia — to stabilize markets.
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Trump Says World’s Biggest Oil Producers to Meet on Market Crash
Trump, speaking at the White House Tuesday, said he’s raised the issue in conversations with Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman. “They’re going to get together and we’re all going to get together and we’re going to see what we can do,” he said. “The two countries are discussing it. And I am joining at the appropriate time, if need be.”
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As Saudi Arabia Boosts Oil Output, Some Tankers Have Nowhere to Go
There are signs, however, that some of this new oil has virtually no place to go. Some of the vessels the kingdom has hired to help it increase exports are leaving ports filled with oil, but have no destination, casting doubts on whether the extra crude production will end up with customers and add to a global glut.
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Coronavirus: Millions will be left in poverty, World Bank warns
The financial impact of coronavirus will stop almost 24 million people from escaping poverty in East Asia and the Pacific, according to the World Bank. It says “significant economic pain seems unavoidable in all countries”.
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U.S. could rethink Iran sanctions in light of coronavirus: Pompeo
The comments reflected a shift in tone by the U.S. State Department, which has come under withering criticism for its hard line toward sanctions relief even in the face of a call by the U.N. secretary-general to ease U.S. economic penalties.
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Gulf banks put brakes on lending as dollar liquidity crunch looms
Gulf banks are limiting their lending to minimize potential losses from the coronavirus crisis and an expected squeeze in dollar liquidity in the oil reliant region, some bankers say.
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Top five MENA VC deals in the first quarter of 2020
The first quarter is usually an active one for venture capital (VC) investments in the Middle East and with the top five closed before the Coronavirus pandemic. The top five investments amounted to $173 million with the UAE once again accounting for most of that. Food technology garnered the most amount of funding, a trend that is likely to continue given the rise in demand for e-groceries at the moment. It remains to be seen how active the investment community will be in the second quarter of this year, but we are expecting an overall slowdown.
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Saudi Arabia’s crude oil supply rises above 12 million bpd, sources say
Saudi Arabia’s crude oil supply rose on Wednesday to more than 12 million barrels per day, two oil industry sources said. A global oil supply cut pact expired on Tuesday, lifting restrictions on output by OPEC members, Russia and other producers.
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Haifaa Al Mansour, first Saudi female filmmaker, talks about “going her own way”
“I really wanted to tell a story about a culturally conservative, traditional woman who decides to embrace the changes happening now and go out there and seize the moment,” says Haifaa Al Mansour, the first female filmmaker from Saudi Arabia, is a force to be reckoned with. Despite criticism, she tells EW why it’s crucial to march to the beat of her own drum.
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Saudi Arabia approves listing of state assets planned for privatization
Saudi Arabia’s government approved on Tuesday the listing of government assets planned for privatisation on its stock market. “Assets, sectors and services planned for privatisation shall be listed on the Saudi stock market through direct or indirect initial public offering (IPO),” the government said in a statement carried by the state news agency SPA.
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