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Tag Archives: middle east

Gulf’s private-sector growth slows as price of oil falls

DUBAI – The private sector in the two biggest Gulf Arab economies grew at the slowest pace in years in October, corporate surveys showed on Tuesday, indicating low oil prices are starting to slow business activity across the region. The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers’ Index for last month dropped to 55.7, its lowest level since the ...

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Oil nearly unchanged on minor technical correction

NEW YORK – Oil prices were little changed in quiet technical trade on Tuesday as declining U.S. production and a “rebalancing” momentum in the market offset expectations of Iranian barrels adding to the already persistent supply glut. Brent futures for December delivery fell 17 cents to $48.44 a barrel, a 0.4 percent loss, by 11:49 a.m. EDT (1549 GMT). U.S. ...

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$400M floating gas terminal to be built

MANAMA, Bahrain — A contract to set up a multi-million dollar floating gas terminal off the coast of Bahrain will be awarded next month. The $400 million Liquefied Natural Gas (LNG) terminal will be constructed near Khalifa Bin Salman Port, on Bahrain’s northeast shore. Energy Minister Dr Abdulhussain Mirza said it would be operational by early 2018 and would receive ...

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Iran nuclear deal is done, but not the debate in Congress

WASHINGTON — It’s a done deal, yet opponents of the Iran nuclear agreement won’t go quietly. The 60-day congressional review period has expired, and last week the State Department outlined its plan to put in place an accord that aims to prevent Iran from acquiring nuclear weapons. Congress is poised to start cranking out legislation to reinstate sanctions or shore ...

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Comerica economist Robert Dye: Fed will raise interest rates slowly

APTOS — Comerica economist Robert Dye expects the Federal Reserve will decide Thursday to start raising interest rates from their historic low, but “the first step in that climb will be very, very small,” he told more than 100 people Wednesday at the Seascape Golf Clubhouse. “Stanley Fischer has been using the word ‘crawl,'” said Dye, referring to the Fed’s ...

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Interview – U.S. energy envoy sees bright spot for natgas in Middle East

WASHINGTON – Signs of hope are scarce in the Middle East, a region awash in violence, civilians fleeing crumbling states, and economies built largely on oil squeezed by a dive in global prices. But Amos Hochstein, the U.S. energy envoy, sees some long-term potential for natural gas development to help provide economic security from Iraq to the eastern Mediterranean. Low ...

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