INTERNATIONAL. Saudi Arabia pumped the most oil in three decades last month, reaching 9.8 million barrels a day and boosting OPEC production, the International Energy Agency said. Increased output in Angola helped replace lower supply in Libya.
Daily supply from the 11 Organization of Petroleum Exporting Countries members bound by quotas rose to 27.37 million barrels a day in July from 27.22 million in June, the Paris-based IEA said today in its monthly oil market report.
“Output has regained levels close to those seen before the Libyan crisis, although OPEC spare capacity now stands at
INTERNATIONAL. The world is well aware of the concerns around terrorism and Nigeria's ongoing struggle with poverty. However the report finds that Nigeria has the potential to expand its economy by roughly 7.1% per year through 2030.
UAE. The escalation of turmoil in the world is yet to play a role for the market, but be warned: everything economic has a delayed reaction of nine to twelve month. If the present state of alertness continues through the summer you can bet on higher energy prices having a serious impact.
UAE. According to an EY report, the increasing role of the private sector in both power generation and water could boost opportunities for large-scale transactions in MENA; Growth rather than consolidation is expected to be a dominant driver of activity.
INTERNATIONAL. Janet Yellen is very different from any of her predecessors. She is likely the most dovish and politically leftist Fed Chair in the Central Bank's history; She sees the Fed's mission as a tool to promote progressive social policy.
INTERNATIONAL. Another sign of deteriorating relations between the United States and Russia; The Cold War treaty, ratified in 1988, was designed to eliminate ground-launched cruise missiles with ranges of 500 to 5,500 km.
EGYPT. EMC EMEA's leadership team shares key innovations and milestones of Egypt's Centre of Excellence; Reiterate commitment to customers and partners to help redefine the future of IT in Egypt, as "Third Platform" applications rise to prominence.
INTERNATIONAL. In a presidential statement, the 15-member body expressed strong support for a ceasefire, and urged all parties to accept and fully implement it into the Eid period marking the end of the Muslim fasting month of Ramadan and beyond.