Hedge Funds Get Bullish on Oil Again as OPEC Prepares to Meet - Bloomberg:
"After two months of cutting bets on rising prices, hedge funds are feeling optimistic again as OPEC prepares to meet. Whether that optimism is warranted remains an open question. Falling output from Iran and Venezuela briefly had analysts touting the possibility of $100-a-barrel oil ahead, and hedge funds boosted wagers on a price rebound in the week ending on Tuesday. Since then, though, a push by Saudi Arabia and Russia for production increases ahead of next Friday’s OPEC meeting has injected an uncertain new element into the picture, pushing futures in London down 4 percent over two days."
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Saturday, 16 June 2018
UAE Cabinet's Eid bonanza for businesses | ZAWYA MENA Edition
UAE Cabinet's Eid bonanza for businesses | ZAWYA MENA Edition:
"The UAE Cabinet's new announcements on employment, tourist and transit visa rules will make movement of people easier, attract good talent and boost tourism numbers and revenues in the country. The UAE Cabinet's decision to scrap a mandatory bank guarantee for employment visas was hailed by businessmen and corporate leaders as a surprise Eid bonanza that will lead to a Dh14 billion liquidity infusion, providing a major stimuluss to a cash-strapped market. MA Yusuff Ali, chairman of Lulu Group International & director board member of Abu Dhabi Chamber, said the decision will surely further boost various industries, especially Small and Medium Enterprises (SMEs), in the country."
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"The UAE Cabinet's new announcements on employment, tourist and transit visa rules will make movement of people easier, attract good talent and boost tourism numbers and revenues in the country. The UAE Cabinet's decision to scrap a mandatory bank guarantee for employment visas was hailed by businessmen and corporate leaders as a surprise Eid bonanza that will lead to a Dh14 billion liquidity infusion, providing a major stimuluss to a cash-strapped market. MA Yusuff Ali, chairman of Lulu Group International & director board member of Abu Dhabi Chamber, said the decision will surely further boost various industries, especially Small and Medium Enterprises (SMEs), in the country."
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Saudi Arabia plans leaders' summit this year for OPEC, allies: sources | Reuters
Saudi Arabia plans leaders' summit this year for OPEC, allies: sources | Reuters:
"Saudi Arabia plans to host a leaders’ oil summit later this year for OPEC and non-OPEC countries participating in a supply cut pact, two sources familiar with the matter said on Friday.
Riyadh and Moscow took the first step in institutionalizing the long-term framework for co-operation between OPEC and non-OPEC nations this week, the sources said.
Saudi Crown Prince Mohammed bin Salman met President Vladimir Putin at the Kremlin. Russia and Saudi Arabia played the opening match of the soccer World Cup, which Russia is hosting.
"
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"Saudi Arabia plans to host a leaders’ oil summit later this year for OPEC and non-OPEC countries participating in a supply cut pact, two sources familiar with the matter said on Friday.
Riyadh and Moscow took the first step in institutionalizing the long-term framework for co-operation between OPEC and non-OPEC nations this week, the sources said.
Saudi Crown Prince Mohammed bin Salman met President Vladimir Putin at the Kremlin. Russia and Saudi Arabia played the opening match of the soccer World Cup, which Russia is hosting.
"
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