Home The Buzz Morning briefing: 2 May 2013


Morning briefing: 2 May 2013

Saudi to raise oil output, plus other news

by Executive Staff

Economics and Policy

Saudi Arabia wants to raise its crude oil production capacity from its current 12.5m barrels per day to 15m barrels per day by 2020, a prince in the kingdom was quoted as saying.

More from Arabian Business

 

Egypt's government must seek political compromise to win broad support for a crucial IMF loan in order to revive the country's ailing economy, a senior opposition figure, Mohamed ElBaradei, said.

More from Reuters

 
 
Qatar is wary of a major spike in inflation as the country embarks on a spending spree ahead of the 2022 World Cup.
 

 

Companies and Business

Royal Dutch Shell says it has officially kicked off a multibillion-dollar project to tap natural gas in Iraq's south.

More from Associated Press

 

EFG Hermes, one of the largest investment banks in the Middle East, plans to cut costs, sell non-core assets, and return cash to shareholders after a planned tie-up with Qatar's QInvest failed on Wednesday.

More from Reuters

 

Du, the United Arab Emirates’ number two telecom operator, posted on Thursday a 40.5 per cent rise in first-quarter profit, beating analysts’ estimates as lower taxes, reduced operating costs and a rising customer base added to the bottom line.

More from Reuters

 

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