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Saudi Samba Shares Surge After $15.6 Billion Takeover Bid

Saudi’s Samba Shares Surge After $15.6 Billion Takeover Bid

(Bloomberg) -- Samba Financial Group jumped in Saudi Arabia after rival National Commercial Bank, the kingdom’s largest lender by assets, offered to acquire it for...
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Oil Holds Above $35 With OPEC+ Decision on Output Cuts in Focus

Oil Holds Above $35 With OPEC+ Decision on Output Cuts in Focus

(Bloomberg) -- Oil traded without direction for a second day as the market waited to see if OPEC and its allies will extend record production...
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Uber Eats Operations To Transition To UAE’s Careem

Uber Eats has decided to close its operations in eight of its markets, it announced on Monday with its operations in the UAE transitioning...
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U.S. Cases Climb 3.2%; Saudis Face ‘Painful’ Cuts: Virus Update

Virus Update: U.S. Cases Climb 3.2%; Saudis Face ‘Painful’ Cuts

(Bloomberg) -- U.S. cases of coronavirus rose 3.2%, which is higher than the one-week daily average. New York’s new deaths rose slightly while hospital admissions fell. The...
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saudi riyadh

Covid-19 Testing: Saudi Arabia, Chinese Firm Sign US$265mn Deal

Saudi Arabia has entered into a US$265 million ((Saudi Rials 995 million) deal with a Chinese firm to ramp up coronavirus (Covid-19) testing. The Kingdom,...
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Oil Regains Some Ground After 10% Drop While Demand Fears Linger

Oil Regains Some Ground After 10% Drop While Demand Fears Linger

(Bloomberg) -- Oil eked out a small gain after tumbling 10% on Tuesday as concerns over virus-driven demand destruction overshadowed a historic deal by the...
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The Secret Weapon Giving Mexico Power in the Oil Price War

The Secret Weapon Giving Mexico Power in the Oil Price War

(Bloomberg) -- As Mexico and Saudi Arabia fight over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall...
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Oil Retreats After Sharp Rally on Doubts Over Price-War Truce

Oil Retreats After Sharp Rally on Doubts Over Price-War Truce

(Bloomberg) -- Oil gave up some of last week’s rally after a delay to a planned meeting of top producers to discuss output curbs and...
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Oil Plummets to 17-Year Low as Broken Market Drowns in Crude

Oil Plummets to 17-Year Low as Broken Market Drowns in Crude

(Bloomberg) -- Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and...
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U.S. Calling on Saudis to Halt Plan to Unleash Record Oil Supply

U.S. Calling on Saudis to Halt Plan to Unleash Record Oil Supply

(Bloomberg) -- The Trump administration is pressing Saudi Arabia to dial back its plan to flood the oil market after a price war with Russia...
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