Less oil from Saudi Arabia
Saudi authorities announced the extension of a voluntary cut in oil production by 1 million bpd (barrels per day) for September, SPA news agency reported. At the same time, in…
UK raises rates to 5.25%
The Bank of England raised interest rates to 5.25% from previous 5%, signaling a prolonged period of tighter borrowing conditions. The key rate was increased by a quarter point, a…
The following countries have officially applied to join BRICS
Algeria
Argentina
Bahrain
Bangladesh
Egypt
Ethiopia
Indonesia
Iran
Mexico
Nigeria
Saudi Arabia
United Arab Emirates
Venezuela
Niger junta says it will not back down despite ‘inhumane’ sanctions
The self-declared new leader of Niger on Wednesday said the military government would not bow to pressure to reinstate ousted President Mohamed Bazoum. Abdourahamane Tiani said the junta “rejects these…
Shell shall fell – out of Nigerian fields
Shell will sell its stakes in onshore oil fields in Nigeria to local businessmen. The reason for the sale is the inability to control the situation on the ground, Bloomberg…
Brazil opposes BRICS expansion
Brazil is resisting gathering momentum in the BRICS group of major emerging economies to add more member countries, but debate over admission criteria seems inevitable at this month’s summit, Reuters…
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