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Economy
Coronavirus: U-turn on face masks in France and the United States
Faced with changing official opinion and growing confusion among the general public about whether or not masks help to protect you from the coronavirus epidemic, the official stance on the wearing of masks has evolved in recent days,…
Putin pins blame on Saudi Arabia and coronavirus for collapse in oil prices
Russian President Vladimir Putin on Friday blamed the recent collapse in oil prices on Saudi Arabia’s withdrawal from an OPEC+ deal over oil supply, as well the impact of coronavirus on demand.
At a meeting with Energy Minister Alexander…
Putin to hold talks with Russian oil firms amid ‘unfavourable’ market
President Vladimir Putin will meet the heads of Russia’s top oil companies for talks on Friday, the Kremlin said, describing the atmosphere on the global market as “unfavourable”.
Kremlin spokesman Dmitry Peskov told reporters on a…
Iraq supports calls for emergency OPEC+ meeting
Iraq supports the call for an OPEC+ emergency meeting to restore oil market balance and stop oil prices collapsing, an oil ministry spokesman said in a statement on Thursday.
The statement added that Iraq is confident that a positive…
Saudi Arabia calls for emergency oil meeting
Saudi Arabia called on Thursday for an emergency meeting of OPEC and non-OPEC oil producers as it aims to reach a fair oil agreement to stabilize the oil market, state news agency SPA reported.
Trump says expects Russia-Saudi oil deal soon, invites U.S. oil chiefs to White House
U.S. President Donald Trump said he has invited U.S. oil executives to the White House to discuss ways to help the industry “ravaged” by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia.…
Putin and Trump agree oil market situation suits neither
Russian President Vladimir Putin and his U.S. counterpart Donald Trump agreed during a phone call on Monday that the current situation on world oil markets suited neither, the Kremlin said on Tuesday.
Trump and Putin agreed during their…
In coronavirus lockdown, Lebanese banks turn off dollar tap for hard-hit depositors
Since Lebanon was placed in lock-down to curb the spread of coronavirus, cash-strapped banks have cut access to dollars for depositors already separated from much of their savings by months of tightening controls.
The outbreak has…
Erdogan sees opportunities if Turkey contains coronavirus
President Tayyip Erdogan said on Wednesday the coronavirus was hitting Turkey just as it was recovering from a 2018 lira crisis but that there would be big opportunities if it could bring the outbreak under control in the coming weeks.…
Jordan’s central bank cuts bank reserves to inject liquidity
Jordan’s central bank cut compulsory reserves for commercial banks to 5% from 7% on Sunday to inject more than 500 million dinars ($705 million) of extra liquidity to mitigate the negative impact of coronavirus on the debt-straddled…