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Barclay brothers avoid bankruptcy after deal with HSBC over £143m debt
Bank says it has withdrawn proceedings against former Telegraph owners Aidan and Howard Barclay at high courtThe former owners of the Telegraph have avoided bankruptcy after reaching a settlement with HSBC over more than £140m in overdue debts.At a high court hearing on Tuesday, Europe’s biggest bank said it had withdrawn proceedings against Aidan and Howard Barclay, whose family lost control of the Daily and Sunday Telegraph in 2023 over £1.16bn of unpaid debts owed to Lloyds Bank. Continue rea...
UAE’s decision to exit OPEC could lead to other countries leaving organization — expert
Countries, including Qatar, Ecuador and Angola have left the group in past years, the TV channel noted
Cosco’s Profit Drops by Half as Lower Freight Rates Bite
Cosco Shipping Holdings Co. reported a 50% drop in first-quarter profit on weaker freight rates, warning that war in the Middle East has posed “significant challenges” for the industry.
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Russia ready to expand military cooperation with Malaysia — Russian ambassador
Nail Latypov also pointed out strong ties with the republic in the area of technical cooperation
US Gas Prices Surge to a 4-Year High as Iran Stalemate Drags On
Gas prices surged to their highest levels in nearly four years as negotiations to end the war between the United States and Iran remain deadlocked. The average cost for a gallon of regular now stands at $4.23 and experts warn the timing couldn’t be worse with the summer travel season just weeks away. NBC’s Christine Romans reports for TODAY.
The UAE’s OPEC exit is not about oil; it is the end of Gulf solidarity
The move reflects a widening confrontation with Saudi Arabia and a fundamental realignment of alliances.
Shot in the arm for GSK and AstraZeneca from cancer drug sales
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UAE exit from OPEC to reshape hydrocarbon transit and consumption system — expert
The departure of one of the largest producers, accounting for more than 12% of the cartel’s output, undermines OPEC’s ability to coordinate the market, which will reinforce the fragmentation trend
UAE exit from OPEC+ may boost global oil output in 2027 — expert
Alexander Frolov does not rule out increased competition in the market following the restoration of oil supplies
Russia-ASEAN Business Forum to be held as part of summit in Kazan on June 17-19
"The Forum will become a strategic step toward creating the optimal conditions for the development of trade and economic ties, as well as for diversifying the formats and areas of cooperation between Russia and Southeast Asia," Anton Kobyakov said
Sber expects key rate to be within 12-13% by end of 2026
Taras Skvortsov opined that the Central Bank would keep the cautious approach towards monetary policy softening
Russia says UAE's exit from OPEC will increase global production, bring down oil prices in future
Russia is a member of the OPEC group of countries and has been coordinating its policies with OPEC members.| India News
China’s Shenzhen Relaxes Home Buying Rules to Boost Demand
China’s tech hub of Shenzhen will ease home buying restrictions in the city’s prime districts and raise housing provident fund loan caps in the latest attempt by authorities to contain the nation’s prolonged property slump.
UAE exit from OPEC not linked to Riyadh’s output reduction proposal — minister
The United Arab Emirates has the highest respect for the Saudis for leading OPEC and OPEC+ as a major producer, Suhail Mohamed Al Mazrouei said
Chiesi Agrees to Buy KalVista Pharmaceuticals for $1.9 Billion
Chiesi Farmaceutici SpA agreed to acquire US-listed KalVista Pharmaceuticals Inc. for about $1.9 billion in its biggest acquisition to date, expanding the Italian company’s rare immunology portfolio.
Former ECB's Trichet: the Enemies are Inflation Secondary Effects
The former ECB President Jean-Claude Trichet talks about the impact on Europe from the geopolitical tensions, a day before the ECB decision. He argues that recession is an option given the level of uncertainty, and the secondary effects of inflation are the real enemies of the ECB. (Source: Bloomberg)
Oil price jumps to $115 after reports of 'extended' Iran blockade
Oil price jumps to $115 after reports of 'extended' Iran blockadeJust nowShareSaveAdd as preferred on GoogleNaomi RaineyandEmer Moreau,Business reportersGetty ImagesCrude oil is a key ingredient in petrol and dieselOil prices have climbed sharply following reports that the US is preparing for an 'extended' blockade of Iran.Brent crude rose to around $115 (£85) a barrel on Wednesday, having closed at just over $110 (£81) on Tuesday evening. The price had fallen slightly to $11...
Morocco to Create 1.7 Million Jobs by 2035 Through Major Reforms
Agadir – Morocco could generate 1.7 million additional jobs by 2035 and boost its real GDP by nearly 20% above baseline projections if it pursues structural reforms, according to a new report released on Tuesday by the World Bank Group. Morocco Growth and Jobs Report, developed in partnership with the Moroccan government, outlines reforms aimed at accelerating growth, attracting private investment, and expanding employment opportunities, particularly for women and youth. According to the W...