Business

Olive Business Roots Young Farmers in Drying Rural Morocco

By Megan Rowling SIDI BADHAJ, Morocco, Nov 24  – Standing amid rows of healthy fava bean plants, El Badaoui Abdelatif explains how his team of young technicians has helped farmers in rural Sidi Badhaj, at the foot of the Atlas Mountains, grow more olives – and earn more money – despite a drying climate. Pruning,

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OPEC Experts Resume Talks on Oil Output Cut, Delegates Upbeat

VIENNA/DUBAI, Nov 22 – OPEC experts discussing how to implement a plan to cut oil output are likely to reach agreement later on Tuesday, a Nigerian delegate said, a possible sign of progress in finalizing the group’s first supply-limiting deal since 2008. The High-Level Committee – a technical body comprised mainly of OPEC governors and

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BP Ring-Fences CEO Dudley From Iran Decision-Making

By Ron Bousso LONDON, Nov 22 – BP has created a new executive committee to explore business in Iran which will exclude its American chief executive Bob Dudley in a bid to avoid potential violations of U.S. sanctions still in place. The new committee is headed by BP’s chief financial officer Brian Gilvary, who is

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Saudi Arabia to Establish National Water and Energy Efficiency Program

RIYADH, Nov 21  – Saudi Arabia will establish a national program to optimise water and energy consumption, it announced in a cabinet statement on Monday, further moves in areas where the government is seeking to cut back huge subsidies. The new program will review policy incentives currently in place for the energy and water sectors,

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Iraq to Make Suggestions to Facilitate OPEC Supply Cut Agreement

BAGHDAD, Nov 21 – Iraq’s oil minister Jabar Ali al-Luaibi will make suggestions at a meeting of OPEC oil ministers at the end of the month to implement an agreement to restrain crude supply in order to push up prices, according to a statement from his ministry on Monday. The statement didn’t indicate what these

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Iran has Shipped “Surplus” Heavy Water to Oman

DUBAI, Nov 21 – Iran has sent some “surplus” heavy water to Oman, an Iranian nuclear spokesman was quoted as saying on Sunday, after a U.N. atomic watchdog said Tehran was over a soft limit set under its nuclear deal with major powers. “In view of the progress of talks with several foreign firms and

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Stranded Trucks, Unpaid Workers: India Inc Counts Cost of Cash Crunch

By Suvashree Choudhury and Rajesh Kumar Singh MUMBAI/NEW DELHI, Nov 21 – Like millions of Indians fed up with corruption and counterfeiting, Vimal Somani cheered Prime Minister Narendra Modi’s shock move to replace all high-value banknotes. Two weeks on, his business is being hammered by the ensuing cash crunch. Sales at Somani’s aluminium foil maker,

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Asian Export Nations Wary Dollar Boost Gives Trump Pretext to Beat Them

By Tetsushi Kajimoto and Cynthia Kim TOKYO/SEOUL, Nov 20 – Asian currency policymakers are worried that the strengthening of the dollar on expectations of U.S. President-elect Donald Trump’s fiscal policies could be used by his administration as a stick to beat them with on trade protectionist grounds. China, Japan, South Korea and Taiwan are already

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Oil May Rise to $55 if All Producers Cooperate – Iran

DUBAI, Nov 19  – Iranian Oil Minister Bijan Zanganeh expressed optimism on Saturday about an upcoming OPEC meeting and said crude prices could jump to $55 a barrel if an agreement is reached and non-OPEC producers cooperate. “We are receiving positive signals that increase the likelihood of agreement at the meeting … and I’m optimistic

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