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Economy
Oil steady as virus infections rise, but hopes for vaccine lends support
Oil prices were little changed on Monday as coronavirus cases increased in many countries, though cautious investor optimism about a potential COVID-19 vaccine and ongoing talks over a European Union fund to revive economies hit by the…
Spanish FM: Spain does not reject conditions on EU fund transfers
Spain does not reject the setting of conditions on the disbursement of European Union funds to help countries recover from the coronavirus pandemic, nor strong governance to oversee their distribution, Foreign Minister Arancha Gonzalez Laya…
Lebanon central bank sets up committee to restructure banks
Lebanon’s central bank has set up a committee to restructure financially stricken commercial banks and study their performance, according to a memo by the bank seen by Reuters on Thursday.
The panel will also propose measures to preserve…
Oil steady after Saudi minister signals OPEC+ may reduce cuts
Oil prices steadied on Wednesday, supported by a sharp drop in U.S. inventories, but further gains were held in check as the Saudi oil minister said OPEC and allies may ease supply curbs from August as the global economy slowly recovers…
IMF urges Lebanese to unite around government financial rescue plan
The International Monetary Fund urged Lebanese authorities on Monday to unite around a government rescue plan and warned that attempts to lower losses from the financial crisis could only delay recovery.
“It is very important that the…
Oil steady despite surge in Coronavirus infections
Oil prices were little changed on Monday after falling earlier as a record daily rise in global coronavirus cases boosted concerns that demand could fall again, while a producer meeting this week was expected to recommend an increase in…
Gove: UK government looking at several sites for post-Brexit checks
Britain’s government is looking at several sites in southern England for sites to process post-Brexit checks on lorries ferrying goods to the European Union, cabinet office minister Michael Gove said on Monday.
“It is not the case that…
Mexican finance minister says has recovered from coronavirus
On Monday, Mexican Finance Minister Arturo Herrera said he had recovered from the novel coronavirus after his latest test results for the virus came through negative, and that he was returning to work.
Herrera made the announcement on…
Iran to develop oil industry despite U.S. sanctions
Iran is determined to develop its oil industry in spite of U.S. sanctions imposed on the country, Iranian Oil Minister Bijan Zanganeh said in a televised speech on Saturday.
“We will not surrender under any circumstances ... We have to…
Oil falls on resurgence of virus cases
On Friday, Oil prices dropped and were headed for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand.
Brent crude was down…