Oil dips after forecast for record US output
Oil prices slipped away from 2019 highs on Wednesday, with surging U.S. supply and slowing economic growth tempering upward pressure from supply cuts led by producer club OPEC and from Washington's sanctions on Iran and Venezuela.US West Texas Intermediate (WTI) crude oil futures hit 2019 highs of US$56.39 per barrel...
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Alauddin A. Majid posing with newly-recruited assistant managers of BASIC Bank
Chairman of BASIC Bank Limited Alauddin A. Majid posing with newly-recruited assistant managers of the bank during a three-day orientation programme that concluded on Wednesday at BASIC Bank Training Institute in the capital
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Emirates brings Expo 2020 themed livery aircraft model collection
The Emirates Official Store has launched a new limited edition collection of Expo 2020 themed aircraft models for aviation enthusiasts and passionate scale-modellers. The highly detailed models are part of a 15 aircraft model collection ranging from Airbus A380s to Boeing 777s featuring the signature Expo 2020 logo in three...
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Demand for tea sags on lower quality
The quality of tea was by and large inferior this week which led to lower demand from all sections in the market as the local tea auction was held on Tuesday.In a statement the National Brokers Ltd said prices consequently eased with heavy withdrawals.Few select lines of good liquoring varieties...
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Gold prices hold at 10-month highs, markets await Fed minutes
Gold prices held at 10-month highs on Wednesday, supported by global slowdown concerns and a weaker dollar, with markets eyeing the release of the US Federal Reserve's policy meeting minutes later in the session, according to Reuters.Spot gold was marginally lower at US$1,339.61 per ounce as of 0021 GMT, having...
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Gazprom’s yes to agreement with Mitsubishi on compressors
MOSCOW (Reuters) - Russian gas giant Gazprom said on Wednesday its board had approved a provisional deal with Japan's Mitsubishi Heavy Industries Compressor Corporation over the construction of gas compressors in Russia.The agreement was signed on May 24, 2018, between Gazprom, Mitsubishi and REP Holding, a leading Russian power machine...
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Another lift in global dairy commodity prices
Global dairy commodity prices have continued to rise, posting a slight lift in the latest Global Dairy Trade (GDT) event, according to a global media report.Prices were up 0.9 per cent to an average price of US$3,271 per tonne at the February 19 GDT auction, with increased volumes behind the...
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