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MIDDLE EASTERN (B)

MIDDLE EASTERN (B)

OPEC, Non-OPEC Countries to Finalize Permanent Framework Ahead of US Sanctions

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Oil producers aim to agree a framework for long-term cooperation to ensure oil market balancing when Opec and non-Opec members meet in Vienna in December.

Stressing the need for oil producers to stick together for the good of the global economy as Iran faces renewed US sanctions, Opec secretary-general Mohammed Sanusi Barkindo said on Tuesday in Fujairah that an agreement between Opec and non-members that cut production and helped bring prices back up from lows of $30 a barrel in January 2016 was now “a permanent feature.”

Crude is averaging about $72 a barrel this year, and the International Energy Agency warned last week that prices could rise above $80. (Shutterstock)

Copyright © 2018 Khaleej Times. All Rights Reserved.

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MIDDLE EASTERN (B)

Bahrain Launches GCC's First Biometric Payment System

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Customers at Bahrain-headquartered Ithmaar Bank will soon be able to use just their fingerprint and pin number to take money out of cash points, dispensing with the need to carry their bank cards with them.

The technological solution has been developed by a Bahraini fintech firm Eazy Financial Services, and is set to be the Gulf region’s first biometric payment system. It is due to be launched in phases from the first quarter of 2019.

Cash withdrawals are now possible using simply a PIN and your fingerprint. (Shutterstock)

Copyright: Arab News © 2018 All rights reserved.

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MIDDLE EASTERN (B)

Report: Jordan's Tourism Sector Needs More Than 5,000 Jobs to Bridge Supply-Demand Gap

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The Kingdom’s tourism sector needs 5,896 jobs by the end of 2019, 2,369 for females and 659 for people with disabilities, a study revealed on Tuesday.

The study, titled “The gap between supply and demand in the tourism sector”, conducted by the National Centre for Human Resources Development, found a big gap between supply and demand in the sector, the Jordan News Agency, Petra, reported.

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The Kingdom’s tourism sector needs 5,896 jobs by the end of 2019. (Shuttertstock)

© Copyright The Jordan Times. All rights reserved.

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MIDDLE EASTERN (B)

Ivory Coast Investment Opportunities Lure Qatari Businessmen

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Qatari businessmen are keen to explore investment opportunities available in Ivory Coast in the fields of agriculture, mining, tourism and real estate, Qatar Chamber (QC) first Vice-Chairman Mohammed bin Ahmed bin Tawar al Kuwari has said.

Kuwari was speaking at a business meeting with Ivory Coast’s Secretary of State in charge of Private Investment Essis Esmel Emmanuel and Chairman of Ivory Coast Chambers of Commerce and Industry Faman Tourih in Doha on Monday.

Qatari businessmen are keen to explore investment opportunities available in Ivory Coast in the fields of agriculture, mining, tourism and real estate. (Shutterstock)

© Copyright Qatar Tribune. All Rights Reserved.

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MIDDLE EASTERN (B)

Saudi Carves a Slice of the Electric Car Market With $1 Billion Investment

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Saudi Arabia put a $1 billion charge into Lucid Motors Monday by investing in the electric car maker.

Through the Public Investment Fund of Saudi Arabia, the investment will fund the complete engineering development and testing of the Lucid Air, the company’s first electric-powered vehicle, construct a factory in Casa Grande, Ariz., and begin sales in North America by 2020.

Lucid and the PIF said they plan to work together to expedite the process of bringing Lucid’s vehicles to market.

Lucid Motors received a $1 billion investment from Saudi Arabia Monday that will get the Lucid Air electric vehicle through to commercialization by 2020. (Lucid Motors)

Copyright © UPI, 2018. All Rights Reserved.

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MIDDLE EASTERN (B)

No New Taxes to Fix Lebanon's Economic Meltdown

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Caretaker Finance Minister Ali Hasan Khalil said Monday that no new taxes would be enacted in next year’s state budget, as parliamentarians grappled with fixing Lebanon’s finances amid looming deadlines and the country still without a fully empowered government. “There are no new taxes in the 2019 draft state budget and talks about new additions on gasoline aren’t at all on the table,” Khalil wrote in a tweet.

The country has the third-highest debt rate in the world compared with gross domestic product, currently standing at about $81 billion, or 152 percent of the country’s GDP. (Shutterstock)

Copyright © 2018, The Daily Star. All rights reserved.

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MIDDLE EASTERN (B)

OPEC Reaffirms Iran's Membership Ahead of US Sanctions

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The head of the Organization of the Petroleum Exporting Countries (OPEC) said Tuesday that Iran remains “a very important member” of the oil cartel, AFP reported.

The comments by Mohammad Barkindo come as Tehran braces for a new round of US sanctions partially targeting its crude exports.

“Iran is a very important member of OPEC… and we have no choice but to continue working with all parties,” Barkindo was quoted as having said at the Gulf Intelligence Energy Forum in the emirate of Fujairah.

Iran is a very important member of OPEC. (Shutterstock)

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