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Oil holds near five-month high on US output cuts and inventories

LONDON, Aug 26 (Reuters): Oil rose towards $46 a barrel on Wednesday, near the highest since March, lifted by US producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a drop in US crude inventories.Renewed worries over the Covid-19 pandemic, which...

American Airlines to cut 19,000 jobs in October

NEW YORK, Aug 26 (AFP): American Airlines warned Tuesday it will lay off around 19,000 workers on October 1 after federal aid expires unless lawmakers vote to give beleaguered US carriers more money.American has been forced to slash flights and seen thousands of employees depart under voluntary programmes as it...

Freeport Indonesia mine operations hit by protests over Covid-19 rules

JAKARTA, Aug 26 (Reuters): Mining operations at Indonesia's Grasberg gold and copper mine have been disrupted as protests by workers over coronavirus restrictions extended into a third day at the mine operated by a unit of Freeport-McMoran Inc.Workers have been blocking access to the world's second-largest copper mine in the...

Tk 1.31b disbursed from stimulus package for CMSMEs: BSCIC

Bangladesh Small and Cottage Industries Corporation (BSCIC) has said Taka 1.31 billion (131.14 crore) has so far been disbursed under the supervision of the district SME loan distribution monitoring committee from the government stimulus package for the cottage, micro, small and medium enterprises (CMSMEs), reports BSS.According to the loan administrative...

Gold falls on firm dollar

BENGALURU, Aug 26 (Reuters): Gold prices fell on Wednesday as the dollar gained, while investors waited for US Federal Reserve Chairman Jerome Powell's speech for a snapshot of the central bank's monetary plan to revive the pandemic-hit economy.Spot gold was down 0.5 per cent at $1,918.59 per ounce by 0954...

Regional ties for rural dev in Asia-Pacific region in focus

The inaugural session of the international seminar on "Rural Development in Asia Pacific Region - with Special reference to North East India and its Bordering countries" was held online recently due to the Covid-19 pandemic, says a statement. National Institute of Rural Development and Panchayati Raj (NIRD&PR), North Eastern Regional...

China's private refiners hire new executives for Singapore desks

SINGAPORE, Aug 26 (Reuters): Private Chinese oil refiner and petrochemical manufacturers Hengli Petrochemical Corp and Rongsheng Petrochemical Corp have each hired a new executive for its Singapore trading desk, company officials said on Wednesday.Hengli Petrochemical (Singapore) Pte Ltd, the trading unit for Hengli Petrochemical, hired James Zhang, formerly a commodities...

Phillips 66 shuts more Louisiana energy facilities

LOUISIANA (US), Aug 26 (Reuters): Phillips 66 will shut its Lake Charles terminals and pipelines in Louisiana and its Gulf Coast lubricants plant by mid-day Wednesday, in addition to its refining complex, as hurricane Laura approached the US Gulf coast.The Beaumont terminal, located along the Sabine-Neches Waterway in Nederland, Texas,...