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Nigeria oil minister says Opec cuts unlikelyNigerian oil minister Emmanuel Ibe Kachikwu said that while a cut in the Organization of the Petroleum Exporting Countries (Opec) production is unlikely, there is hope a meeting of producers in Algeria next month could help shore up crude pric More… |
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Mitsubishi Heavy seeks cost cuts at steel venture with SiemensMitsubishi Heavy Industries Ltd, maker of everything from submarines to nuclear reactors, is seeking to cut costs at its steel-making equipment venture with Germany’s Siemens AG in the face of a contracting market, said a Bloomberg report. More… |
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Boeing reduces size of tech workforceBoeing Co said on it was reducing the size of its tech support unit as part of an ongoing drive to lower costs. The company declined to comment on how many information technology workers are being laid off, after the Seattle Times More… |
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Opec, Russia coordinated oil output cuts unlikely: SachsCoordinated oil production cuts between Opec producers and Russia are "highly unlikely" since a deal would require further cooperation between Opec members amidst Iran's growing production and ongoing rift with Saudi Arabia, Gold More… |
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Stricter spending cuts on the way in BahrainA wave of strict measures to further reduce government spending in Bahrain will be introduced in the coming weeks, it was revealed. Government ministries and bodies will bear the brunt of the new rules, said Finance Minister Shaikh Ahmed bin M More… |
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Expat subsidy cuts agreement in Bahrain 'imminent'Negotiations are underway between Bahrain’s MPs and the government to scrap electricity and water subsidies for expatriates and big businesses. Parliament’s public utilities and environment affairs committee chairman Adel Al Asoomi More… |
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Kuwait Emir urges spending cuts as oil slumpsThe Emir of Kuwait urged the cabinet and parliament on Tuesday to cut state spending in response to slumping oil prices, warning that any delay would increase the damage to the government's finances. The remarks by Sheikh Saba More… |
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Opec, others unlikely to cooperate on cutsA meeting of Opec and non-Opec oil market experts this week is unlikely to increase the prospect of joint co-operation on supply curbs or show much support for Venezuela's proposed price band, Opec delegates and analysts said. More… |
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Cuts in global oil investment ‘biggest ever this year’Global oil investments this year are on track to drop by 20 per cent, marking their biggest decline in history, Fatih Birol, head of the International Energy Agency, said on Friday. A halving in oil prices in t More… |
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Business leaders urge subsidy relief for SMEs in BahrainSubsidy relief must be offered to help small and start-up businesses succeed in the wake of planned government cuts, a prominent business leader has argued. Plummeting oil prices over the past 12 months have forced Bahrain to rethink its subsi More… |
