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☆ Israel's workhorse Merkava tank could soon be refilling foreign arsenals depleted by the war in Ukraine
▼ + stars: | 2023-07-17 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Israel may be about to export its workhorse Merkava tank for the first time. Israel isn't selling the newest version of the 45-year-old Merkava tank family, the Merkava 5, or even the Merkava 4, which is used in front-line Israeli armored units. An Israeli Merkava tank in the Negev desert in November 1997. Israel Defense Forces/Michael ShvadronThough Israel is small, home to less than 10 million people, it's one of the world's top 10 arms exporters. If Merkava tanks are sold overseas, they may yet end up on surprising battlefields.

Persons: Yair Koles, Israel isn't, Antoine GYORI, Merkava, Mark, Michael Shvadron, Israel —, Efraim Inbar, MENAHEM KAHANA, Recep Erdogan, Michael Peck Organizations: Israel, Service, Israel's Ministry of Defense, Haaretz, Cypriot, El, Getty, Israel Defense Forces, United Arab, Morocco —, US Army, Jerusalem Institute for Strategy, Security, Polisario, Iranian, Defense, Foreign Policy, Twitter, LinkedIn Locations: Israel, Ukraine, Wall, Silicon, Arab, European, Turkey, Cyprus, Morocco, Spanish, El Espanol, Israeli, Soviet, Lebanon, Israel's, United Arab Emirates, Bahrain, Algeria, AFP, Turkish, Russian, Europe, Eastern, Merkavas, Russia, Syria, Iran, North Korea, Forbes

CNN —A blistering and deadly heat wave in Italy this week could break records, with temperatures predicted to soar past 45 degrees Celsius (113 Fahrenheit) in some parts of the country. The warning comes on the heels of a report published in Nature on Monday, which found that last year’s heat wave killed 61,672 people in Europe. The heat wave is also affecting other European countries including France, Germany and Spain. This heat wave follows another one in Spain in April, which saw temperatures soar to 38.8 degrees Celsius, smashing the previous national monthly record. Scientists found that this heat wave – which also affected Portugal, Morocco and Algeria – was made 100 times more likely by the human-caused climate crisis.

Persons: ” Luca Mercalli, Nicola Fratoianni, ” Fratoianni, Giuseppe Napolitano, Emanuele Perrone, Mercalli, Gregorio Borgia, Cerberus, Algeria – Organizations: CNN, Italian Meteorological Society, Twitter, Health Locations: Italy, Italian, Lodi, Rome, Tempio Pausania, Sardinia, Europe, Florence, Bologna, Nature, United States, Sicily, France, Germany, Spain, Portugal, Morocco, Algeria

U.S. West Texas Intermediate crude rose $2.15 from Monday's close, or 3.1%, to $71.91 a barrel by 11:36 a.m. EDT (1536 GMT). Brent crude futures rose 45 cents, or 0.5%, to $76.66 a barrel, after gaining $1.60 a barrel on Tuesday. "The July voluntary cuts and the extension into August should considerably tighten the oil market, but investors will stay on the sidelines until oil inventories will show substantial draws," said UBS analyst Giovanni Staunovo. The American Petroleum Association will report its weekly U.S. crude oil and products inventory report after 4:30 p.m. EDT (2030 GMT) on Wednesday. Morgan Stanley on Wednesday lowered its oil price forecasts, predicting a market surplus in the first half of 2024 with non-OPEC supply growing faster than demand next year.

Persons: Prince Abdulaziz bin Salman, Giovanni Staunovo, Staunovo, Morgan Stanley, Shariq Khan, Natalie Grover, Yuka Obayashi, Muyu Xu, David Goodman, Jan Harvey, David Gregorio Our Organizations: Brent's Tuesday, Brent, . West Texas, American Petroleum Association, U.S . Energy, Administration, U.S, Thomson Locations: Saudi Arabia, Russia, BENGALURU, Monday's, Algeria, Saudi, OPEC, China, Europe

☆ Brent crude steady as economic fears offset supply cuts
▼ + stars: | 2023-07-05 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

LONDON, July 5 (Reuters) - Brent crude oil prices were little changed on Wednesday as concern over the global economy countered supply cuts announced this week by top crude exporters Saudi Arabia and Russia. Recent surveys have shown a slump in global factory activity, reflecting sluggish demand in China and Europe. Russia and Algeria, meanwhile, are lowering their August output and export levels by 500,000 bpd and 20,000 bpd respectively. Seperately, Kazakhstan oil output on July 4 plunged by about a fifth from July 2 levels after widespread power outages. Kazakh crude accounts for about 1.7% of global oil production.

Persons: Brent, Tamas Varga, Prince Abdulaziz bin Salman, Morgan Stanley, Natalie Grover, Yuka Obayashi, Xu, David Goodman Organizations: Brent, . West Texas Intermediate, U.S, Thomson Locations: Saudi Arabia, Russia, ., Monday's, China, Europe, Algeria, Saudi, OPEC, Seperately, Kazakhstan, London, Tokyo, Singapore

TOKYO/SINGAPORE, July 5 (Reuters) - Oil benchmark Brent fell on Wednesday, reversing some of the gains made after Saudi Arabia and Russia announced they would extend and deepen output cuts into August, as concerns over a global economic slowdown weighed on market sentiment. Brent was down 46 cents, or 0.6%, at $75.79 a barrel by 0704 GMT, after climbing $1.60 on Tuesday. Investors remained concerned about oil demand, however, after business surveys showed a slump in global factory activity because of sluggish demand in China and in Europe. "The trajectory of global oil stockpiles may soon become as relevant as OPEC+ supply cuts and macro headwinds given the International Energy Agency's outlook for a tightening oil market in H2 2023," analysts from Commonwealth Bank of Australia said in a note. Reporting by Yuka Obayashi in Tokyo and Muyu Xu in Singapore; Editing by Sonali Paul and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Brent, Tomomichi Akuta, Yuka Obayashi, Xu, Sonali Paul, Muralikumar Organizations: . West Texas, Mitsubishi UFJ Research, Consulting, Federal, Market, U.S, of, Petroleum, Investors, Traders, American Petroleum Institute, Reuters, International Energy, Commonwealth Bank of Australia, Thomson Locations: TOKYO, SINGAPORE, Saudi Arabia, Russia, ., Monday's, U.S, United States, Europe, China, Algeria, OPEC, Tokyo, Singapore

☆ Oil prices ease as worries over global economic slowdown weigh
▼ + stars: | 2023-07-05 | by ( ) www.cnbc.com time to read: +2 min

Oil prices eased on Wednesday, paring the previous day's gain as fears over a global economic slowdown denting fuel demand outweighed expectations of tighter supply due to output cuts announced by top exporters Saudi Arabia and Russia for August. Brent crude was down 14 cents, or 0.2%, at $76.11 a barrel by 0027 GMT, after climbing $1.60 on Tuesday. "Oil prices came under pressure again due to lingering worries over a slowdown in the global economy and further hikes of interest rates in the United States and Europe," said Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting. The latest decision by Saudi and Russia could be viewed as a bearish signal for prices, as it confirms that optimistic views on demand growth are faltering. Investors remained concerned about oil demand, however, after business surveys showed a slump in global factory activity because of sluggish demand in China and in Europe.

Persons: paring, Brent, Tomomichi Akuta Organizations: Raffles, . West Texas, Mitsubishi UFJ Research, Consulting, Saudi, OPEC, of, Petroleum, Investors, Traders, American Petroleum Institute, Reuters Locations: Yantai, East China's Shandong province, Saudi Arabia, Russia, ., Monday's, U.S, United States, Europe, China, Algeria

☆ Oil prices rise 2% as market weighs supply cuts against economic outlook
▼ + stars: | 2023-07-04 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

LONDON, July 4 (Reuters) - Oil prices climbed 2% on Tuesday as markets weighed August supply cuts by top exporters Saudi Arabia and Russia against a weak global economic outlook. The total cuts now stand at more than 5 million bpd, or 5% of global oil output. "Clearly, the Saudis are taking proactive and pre-emptive steps to stabilize the price of crude oil as well as see gains to reach $80 a barrel to sustain their domestic budgets," said Andrew Lipow, president of Houston-based Lipow Oil Associates. Even so, the market will wait to verify Russia's announced cuts, and concerns continue that high interest rates will weigh on global demand, Lipow said. Oil benchmarks settled about 1% down in the previous session, as a gloomy macroeconomic outlook served to erase early gains.

Persons: Tamas Varga, Andrew Lipow, Russia's, Lipow, Craig Erlam, Natalie Grover, Rod Nickel, Arathy Somasekhar, Trixie Yap, Mark Potter, Alexander Smith, David Goodman, Bill Berkrot Organizations: Brent, . West Texas, Houston, Lipow Oil Associates, Independence, International Energy Agency, Thomson Locations: Saudi Arabia, Russia, Algeria, OPEC, China, Europe, U.S, London, Winnipeg , Manitoba, Houston, Singapore

☆ Oil up as market weighs supply cuts against gloomy economic outlook
▼ + stars: | 2023-07-04 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

LONDON, July 4 (Reuters) - Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook. However, oil benchmarks settled down about 1% in the previous session, after an initial rally, on the back of a gloomy macroeconomic outlook. Tuesday morning trade suggests little has changed in oil dynamics despite Monday's announcements, Craig Erlam, OANDA analyst told Reuters. Even before these new cut announcements, International Energy Agency (IEA) data suggested the oil market was set to show a supply deficit of roughly 2 million bpd in the third and fourth quarters, noted Commerzbank analysts. Still, oil prices did not jump significantly on the news, largely due to demand concerns, particularly given sluggish economic recovery in China following the lifting of coronavirus restrictions.

Persons: Tamas Varga, Craig Erlam, Natalie Grover, Arathy Somasekhar, Trixie Yap, Mark Potter, Alexander Smith Organizations: Brent, . West Texas, Reuters, International Energy Agency, Independence, Thomson Locations: Saudi Arabia, Russia, Algeria, OPEC, China, Europe, U.S, London, Houston, Singapore

REUTERS/Ramzi Boudina/File PhotoCompanies United States of America FollowDUBAI, July 3 (Reuters) - Saudi Arabia and Russia, the world's biggest oil exporters, deepened oil cuts on Monday, sending prices higher despite concerns over a global economic slowdown and possible further interest rate hikes from the U.S. Federal Reserve. The cuts amount to 1.5% of global supply and bring the total pledged by OPEC+ to 5.16 million bpd. OPEC+ already has in place cuts of 3.66 million bpd, amounting to 3.6% of global demand, including 2 million bpd agreed last year and voluntary cuts of 1.66 million bpd agreed in April and extended to December 2024. Oil prices rose on news of the cuts, with Brent up 89 cents to $76.30 a barrel by 0950 GMT. Russia, the world's second largest oil exporter after Saudi Arabia, has already pledged to reduce its output by 500,000 barrels per day (bpd) to 9.5 million bpd from March until year-end.

Persons: Ramzi Boudina, Alexander Novak, Brent, Maha El Dahan, Jana Choukeir, Jason Neely, David Evans Organizations: Organization of, Petroleum, REUTERS, Companies, U.S . Federal Reserve, OPEC, Ministry of Energy, Thomson Locations: OPEC, Algiers, Algeria, States, America, DUBAI, Saudi Arabia, Russia, Saudi, Moscow

☆ Middle Eastern regimes have a history of shutting down the internet. But it’s costing them
▼ + stars: | 2023-07-03 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +6 min

CNN —When authoritarian Middle Eastern regimes feel threatened by their public, they often shut down the internet. Internet Society, a US-based non-profit organization that advocates for global internet access, last week released a new tool called NetLoss, which calculates the economic damage of government-imposed internet blackouts. After tracking global internet shutdowns in 2022, the organization found that countries in the Middle East and North Africa tightened restrictions on internet access over time. In the Middle East, internet shutdowns are correlated with authoritarian regimes, particularly during social unrest or conflict, Jones said. Neither country has ever imposed a complete internet shutdown, according to Internet Society, and both have a shutdown risk of under 10%.

Persons: ”, Marc Owen Jones, Hamad, Jones, Hanna Kreitem, Kreitem, ” Kreitem, “, ” Jones Organizations: CNN, Internet Society, Rapid Support Forces, Bank, Society, Hamad Bin Khalifa University Locations: Libya, Egypt, Syria, Bahrain, Iraq, Algeria, Iran, US, East, North Africa, Sudan, Saudi Arabia, UAE, India, Ukraine

☆ Putin vows to punish those involved in mutiny, accuses them of treason
▼ + stars: | 2023-06-24 | by ( Christine Wang | ) www.cnbc.com time to read: +1 min

Russian President Vladimir Putin delivers a statement following talks with Algeria's President at the Kremlin in Moscow on June 15, 2023. Russian President Vladimir Putin pledged to punish everyone involved in the "armed rebellion" and accused them of treason. His comments come after Yevgeny Prigozhin, chief of the mercenary Wagner Group, accused the Kremlin of deliberately bombing Wagner troops. He characterized the unprovoked war in Ukraine as a struggle for Russia's future, an effort that Putin said requires unity among its forces. The Russian leader said, "I repeat, any internal turmoil is a deadly threat to our statehood, to us as a nation."

Persons: Vladimir Putin, Putin, Yevgeny Prigozhin, Wagner, Prigozhin's Organizations: Kremlin, Wagner Group, Russia's Ministry of Defense Locations: Moscow, Ukraine

The deal fits the Italian group's plan to increase the share of gas in its total hydrocarbon production and is expected to boost its earnings immediately, Eni said in a statement. Eni, which is controlled by the Italian government, owns 63% of Vaar and is the main beneficiary of cash dividends from the Oslo-listed unit. VAAR EXPANDING IN NORWAYUnder the agreement, Eni will acquire Neptune's entire portfolio other than its operations in Germany and Norway. The German operations will be carved out prior to the Eni transaction and the Norwegian operations will be acquired by Vaar directly from Neptune in a separate deal, the two groups said in a statement. The Vaar transaction will close immediately prior to the Eni deal with the proceeds from the Norway sale remaining with the business purchased by the Italian group.

Persons: Italy's Eni, Eni, Claudio Descalzi, Descalzi, Vaar, Torger Roed, Rothschild, Ernst, Young, Shadia Nasralla, Terje Solsvik, Alvise Armellini, Jason Neely, Simon Cameron, Moore, Philippa Fletcher Organizations: Eni, MILAN, Italy's, Neptune Energy, Vaar Energy, LNG, Eni's Gas, Royal Bank of Canada's, Neptune, China Investment Corporation, Carlyle Group, CVC Capital Partners, HSBC, White, Case, Thomson Locations: Europe, Algeria, Indonesia, Milan, Russia, Oslo, Norway, Vaar, NORWAY, Germany, Norwegian, Neptune, Neptune Norway, Italian, Britain, Netherlands, LNG, London

☆ Most liveable cities: The 2023 rankings are in
▼ + stars: | 2023-06-21 | by ( Tamara Hardingham-Gill | ) edition.cnn.com time to read: +8 min

The ranking of the world’s most liveable cities for 2023 has just been released by the Economist Intelligence Unit (EIU), and Vienna has come out on top yet again. The world's most liveable cities for 2023: The Economist Intelligence Unit (EIU) Global Liveability Index ranked Osaka, Japan as the 10th most liveable city in the world. Vladislav Zolotov/iStockphoto/Getty Images The world's most liveable cities for 2023 have been revealed (photos) Prev Next“The removal of covid-related restrictions has overall boded well for global liveability in 2023,” Upasana Dutt, Head of Liveability Index at EIU, said in a statement. Stability declineCalgary was one of three Canadian cities to make it into the top 10 on the 2023 list. Damascus, consistently one of the lowest-ranked cities in the survey, has seen no improvement in its liveability scores this year.

Persons: CNN — It’s, Pierre Ogeron, David Hanson, Vladislav Zolotov, ” Upasana Dutt, ”, Barsali Bhattacharyya, “ Organizations: CNN, Economist Intelligence Unit, Denmark’s, Sydney, Melbourne, Japan’s Osaka, Zurich, Geneva, Calgary, Getty, “, London, Industry Research, Algeria’s, Kyiv Locations: “, Austrian, Vienna, Melbourne, Sydney, Canada, Calgary, Vancouver, Toronto, Switzerland, Osaka, Japan, jenifoto, Geneva, Swiss, Zurich, Cavan, Australia, New South Wales, Copenhagen, Denmark, Austria, EIU, Asia, Europe, Stockholm, Edinburgh, Ukraine, Honolulu, Hawaii’s, San Diego, Los Angeles, Algeria’s Algiers, Libya’s Tripoli, Syria’s Damascus, Damascus, Ukrainian, ”, Kiev

WASHINGTON, June 15 (Reuters) - The U.S. sharpened its criticism of Russia's record on human trafficking on Thursday, citing Moscow’s treatment of conscripts and Ukrainian children, in an annual report on countries that Washington says are failing to protect victims. The State Department’s 2023 Trafficking in Persons report kept Russia on a list of "state sponsors" of human trafficking and ranked Russia among the world's worst at addressing the problem. A section on Russia included more criticism than last year of Moscow's detention of people in Ukraine. “There was a government policy or pattern of trafficking of Ukrainian citizens and North Korean workers,” it added. The report put Russia in Tier 3, which groups the worst offenders in human trafficking, where it was last year.

Persons: Vladimir Putin, ”, Matt Spetalnick, Simon Lewis, Cynthia Osterman Organizations: Criminal, State Department, Thomson Locations: U.S, Washington, Russia, Moscow, Ukraine, North, Syria, Russia's, Tier, Algeria, Chad, Djibouti, Equatorial Guinea, Malaysia, Vietnam

☆ Without climate change, these extreme weather events would not have happened
▼ + stars: | 2023-06-15 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +13 min

People often want to know if an extreme weather event happened because of climate change, said Friederike Otto, climate scientist and co-lead of the World Weather Attribution initiative. And, more often than not, they are finding the clear fingerprints of climate change on extreme weather events. “We’re always going to have extreme weather, but if we keep driving in this direction, we’re gonna have a lot of extreme weather,” said Ted Scambos, a glaciologist at the University of Colorado-Boulder. Alexander Nemenov/AFP/Getty ImagesSiberian heat wave, 2020In 2020, a prolonged, unprecedented heat wave seared one of the coldest places on Earth, triggering widespread wildfires. A study from the journal Nature Climate Change found the period from 2000 to 2021 was the driest the West has ever been in 1,200 years, noting human-caused climate change made the megadrought 72% worse.

Persons: Friederike Otto, Otto, We’re, we’re, ”, Ted Scambos, Alexander Nemenov, Andrew Ciavarella, Kathryn Elsesser, San Salvador de la, Aitor De Iturria, ” Otto, Mamunur Rahman Malik, “, Fadel Senna, Debarchan Chatterjee, Saeed Khan, koalas, David Paul Morris, Lake Powell, Hurricane Ian, Ricardo Arduengo, Ian, Lawrence, Abdul Majeed, António Guterres Organizations: CNN, University of Colorado -, Getty, UK’s Met, Oregon Convention, Northern, World Health Organization, South Asia, Bloomberg, Western, Stony Brook University, Lawrence Berkeley National Laboratory ., UN Locations: University of Colorado - Boulder, Siberia, AFP, Oregon, Portland, Pacific, . Oregon, Washington, Canada, British Columbia, Canadian, Lytton, San Salvador de, Cercs, Catalonia, Spain, North America, Europe, China, Dahably, Wajir County, Kenya, Africa, Horn of Africa, Somalia, Ethiopia, Masseoud, Morocco, Portugal, Algeria, Kolkata, India, South Asia, South, Vietnam, Myanmar, Laos, Bangladesh, Thailand, New South Wales, Australia, Oroville, Oroville , California, States, California, Lake Oroville, Lake Mead, Lake, Nevada, Arizona, Mexico, Hurricane, Matlacha , Florida, Caribbean, Florida, Swat, Bahrain, Khyber Pakhtunkhwa, Pakistan, Sindh, Balochistan

☆ Three historical shipwrecks uncovered in the Mediterranean
▼ + stars: | 2023-06-08 | by ( Ashley Strickland | ) edition.cnn.com time to read: +5 min

CNN —An international team of scientists discovered three historical shipwrecks during an underwater archaeological expedition last year in the Mediterranean Sea. Scientists conducted their expedition in the Mediterranean last year aboard the Alfred Merlin research vessel. The team used the research vessel’s underwater mapping and imaging equipment to catalog shipwrecks, dating from ancient times to the 20th century, with sonar. Located along a heavily traveled route in the Mediterranean, the Skerki Bank in the Strait of Sicily is one of the most treacherous maritime areas. As you know, the Mediterranean with its very rich history, and its countless shipwrecks and archaeological sites offer a unique and fascinating stage for such expeditions.

Persons: Robert Ballard, Anna Marguerite McCann, Alfred Merlin, Arthur, Keith Reef, Angel Fitor, DRASSM, ”, Barbara Davidde, Lazare Eloundou Assomo Organizations: CNN, UNESCO, Skerki Bank of, Skerki Bank, DRASSM UNESCO, Drassm, UNESCO World Heritage, “ UNESCO Locations: Paris, Algeria, Croatia, Egypt, France, Italy, Morocco, Spain, Tunisia, Skerki Bank of Tunisia, Strait, Sicily, Tunisian

Morocco considers Western Sahara its own, but the Algeria-backed Polisario front demands an independent state there. The NSC's head, National Security Adviser Tzachi Hanegbi, met Moroccan foreign minister Nasser Bourita on Wednesday, Morocco's foreign ministry said without offering further details. At that meeting, Moroccan Foreign Minister Nasser Bourita said: "I hope we will meet very soon in a different desert but with the same spirit." Moroccan media reported a possible plan to reconvene in the Western Sahara town of Dakhla. Holding it in coastal Dakhla could pose a challenge for Washington, which has never followed through on Trump's pledge to open a U.S. consulate in Western Sahara.

Persons: Yair Lapid inaugurates, Moroccan Foreign Ministry Mohcine, Benjamin Netanyahu's, Donald Trump, Tzachi Hanegbi, Nasser Bourita, Eli Cohen, Israel's, Abraham, Dan Williams, Ahmed Eljechtimi, Christina Fincher, Lisa Shumaker Organizations: Moroccan Foreign Ministry, Israel Ministry of Foreign Affairs, REUTERS, Wednesday, Western, Reuters, National Security Council, National Security, Israeli, Abraham Accords, Moroccan, Washington, Thomson Locations: Rabat, Morocco, REUTERS JERUSALEM, RABAT, Sahara, Western Sahara, Algeria, Polisario, Israel, statecraft, Moroccan, Spain, NEGEV, Abraham, Dakhla, U.S, Laayoune, United Arab Emirates, Bahrain

☆ Five nations elected to U.N. Security Council, but Belarus denied
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +2 min

UNITED NATIONS, June 6 (Reuters) - The United Nations General Assembly elected Algeria, Guyana, Sierra Leone, Slovenia and South Korea to the U.N. Security Council on Tuesday for two-year terms starting on Jan. 1, 2024, while Belarus - allied with Russia in its invasion of Ukraine - was denied a spot. Algeria, Guyana, Sierra Leone and South Korea ran unopposed for a spot on the 15-member body, which is charged with maintaining international peace and security. The Security Council is the only U.N. body that can make legally binding decisions such as imposing sanctions and authorizing use of force. Guyana received 191 votes, Sierra Leone 188, Algeria received 184 votes, South Korea 180. "The Russians have always argued that a lot of states support Ukraine in public at the U.N., but sympathize with Russia in private.

Persons: Richard Gowan, Michelle Nichols, Will Dunham Organizations: UNITED NATIONS, United Nations General Assembly, . Security, South Korea, Belarus, United, United Arab Emirates, The Security, General, Sierra, Slovenia, Soviet Union, Thomson Locations: Algeria, Guyana, Sierra Leone, Slovenia, South Korea, Belarus, Russia, Ukraine, South, Albania, Brazil, Gabon, Ghana, United Arab, Britain, China, France, United States, General Assembly, Soviet

☆ Exxon, Chevron Near Deals to Drill in Gas-Rich Algeria
▼ + stars: | 2023-06-02 | by ( Matthew Dalton | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/exxon-chevron-near-deals-to-drill-in-gas-rich-algeria-8aeed887

Persons: Dow Jones, 8aeed887 Organizations: exxon Locations: algeria

Two OPEC+ sources said they did not expect the group to agree further output cuts on Sunday, when OPEC+ ministers gather at 2 p.m. in Vienna (1200 GMT). Before then, OPEC ministers will meet at 11 a.m. on Saturday. As the economic outlook worsened, several members of OPEC+ in April pledged voluntary cuts starting from May, adding to a 2 million barrels per day (bpd) reduction agreed last year. A fourth source said the idea of formalising the voluntary cuts as an OPEC+ decision was being looked at. Last week, Prince Abdulaziz told investors he said were shorting the oil price to "watch out", which many market watchers interpreted as a warning of additional supply cuts.

Persons: Prince Abdulaziz bin Salman, Prince Abdulaziz, Alexander Novak, Ahmad Ghaddar, Alex Lawler, Maha El, Kirsten Donovan Organizations: OPEC, Organization of, Petroleum, Saudi Energy, United, Thomson Locations: VIENNA, OPEC, Russia, Vienna, Algeria, United Arab Emirates, Russian

☆ BRICS ministers put on show of strength as Putin arrest warrant looms large
▼ + stars: | 2023-06-01 | by ( Wendell Roelf | ) www.reuters.com time to read: +4 min

"The answer is the president (Cyril Ramaphosa) will indicate what the final position of South Africa is. At a news conference later, the ministers side-stepped a barrage of questions about the Putin issue. The ICC accused Putin in March of the war crime of forcibly deporting children from Russian-occupied territory in Ukraine. South Africa had invited Putin in January. The BRICS bloc "was inclusive ... in sharp contrast to some countries' small circle, and so I believe the enlargement of BRICS will be beneficial to the BRICS countries," he said.

Persons: Putin, Naledi Pandor, Vladimir Putin, Pandor, Cyril Ramaphosa, Subrahmanyam Jaishankar, Ma Zhaoxu, Hossein Amir, Prince Faisal bin Farhan Al Saud, Carien du Plessis, Anait, Bhargav Acharya, Nellie Peyton, Alexander Winning, Estelle Shirbon, Joe Bavier, John Stonestreet, Ros Russell, Andrew Heavens Organizations: West, International Criminal Court, ICC, United Nations Security Council, New Development Bank, China's, BRICS, Iran's, Saudi, United, Thomson Locations: Cape Town, Africa, South Africa, Johannesburg, Brazil, Russia, India, China, Ukraine, Moscow, Beijing, Venezuela, Argentina, Algeria, United Arab Emirates

☆ BRICS ministers meet in push to establish group as counterweight to West
▼ + stars: | 2023-06-01 | by ( Wendell Roelf | ) www.reuters.com time to read: +3 min

South African authorities confirmed that foreign ministers from Brazil, Russia, India, and South Africa are attending Thursday's meeting in Cape Town. Amid the growing geopolitical polarisation resulting from the war in Ukraine, BRICS leaders have said they are open to admitting new members, including oil producing countries. South Africa, though the bloc's smallest member, is among its biggest champions. As an ICC member South Africa would face pressure to arrest Putin, were he to attend the meeting in Johannesburg. "Obviously, the best solution for South Africa is if Putin decided not to come."

Persons: Vladimir Putin, Putin, van Staden, William Gumede, Nic Borain, Wendell Roelf, Carien du, Joe Bavier, Grant McCool Organizations: BRICS, Criminal Court, South African Institute of International Affairs, New Development Bank, South, United, ICC, Independent, Thomson Locations: Ukraine, August CAPE, South Africa, Johannesburg, Moscow, Brazil, Russia, India, Cape Town, China, Beijing, South African, Venezuela, Argentina, Iran, Algeria, Saudi Arabia, United Arab Emirates, African, . South Africa, Africa, Pretoria, Carien du Plessis

☆ Tourists kept turning up at a woman's house in London after it was mistakenly listed as up for rent on Booking.com
▼ + stars: | 2023-05-31 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

A woman told the BBC that tourists kept showing up at her house after a Booking.com error. Around 20 guests showed up in the last month, thinking her house was a holiday rental, she said. "We just need it to stop somehow," Arsenius told the BBC. The tourists who have turned up are from countries including Algeria, Canada, India, and the US, the BBC reported. The company told the BBC in a statement that scammers are behind the mistake and that it had removed the listing from its site.

Persons: Booking.com, scammers, —, Karin Arsenius, Arsenius, Sabrina Salomé Schneider, Schneider Organizations: BBC, Service Locations: London, Plumstead , London, Algeria, Canada, India, Argentina, Booking.com

☆ Gucci-Owner Kering, Drugmaker GSK and Others Are Developing Global Targets on Nature Loss
▼ + stars: | 2023-05-25 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Luxury group Kering and biopharma company GSK are among more than a dozen companies preparing targets to develop a gold standard for how businesses can protect nature. Yet the issues surrounding nature loss are complex and many companies are unsure how to measure it or what to do. The Taskforce on Nature-Related Financial Disclosures, a business-backed effort to protect biodiversity, is working on a reporting framework, and SBTN is developing standards to evaluate companies’ nature targets. “We expect that the landscapes will be similar [to the ones under the SBTN targets], ” Gonçalves Krebsbach said. In 2020, GSK started to map out stressed water basins in its supply chain.

☆ Citi appoints new North Africa, Levant and Central Asia head
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: 1 min

DUBAI, May 8 (Reuters) - Banking group Citi has appointed Omar Hafeez as head of its North Africa, Levant and Central Asia operations based in Dubai after a reorganisation of the company's MENA region, it said on Monday. Hafeez transfers from Japan, where he was head of the corporate banking business, the third largest for Citi globally. The North Africa, Levant and Central Asia sub-cluster consists of Algeria, Tunisia, Morocco, Egypt, Jordan, Lebanon, Turkey, Kazakhstan and Israel, Citi said. Reproting by Yousef Saba Writing by Lisa Barrington Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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