Asia Business

S&P cuts Zambia credit rating to "selective default"

09h35 Ratings agency S&P has slashed Zambia's credit rating to "selective default" after the government missed an interest payment last week and announced it would suspend debt service to external commercial creditors.  Full story

Japan's SBI Holdings, Towa Bank to form capital tie-up -Nikkei

11h24 Japanese financial firm SBI Holdings Inc and regional lender Towa Bank Ltd will conduct a capital tie-up and take small stakes in one another, the Nikkei newspaper reported on Thursday.. . .  Full story

Hong Kong stocks inch higher as financials lend support

10h55 Hong Kong stocks ended marginally higher on Thursday, aided by gains in heavyweight financial firms.. . .  Full story

BOJ voices confidence over Japan's banking system, warns of risks

10h42 Japan's banking system remains stable as a whole and has sufficient buffers against risks, the central bank said in a semi-annual report, voicing confidence that domestic financial institutions can withstand the hit from the coronavirus. . .  Full story

Thai household debt levels to rise even further - c.bank gov

10h37 Thailand's household debt levels, already at the highest in 17 years, are expected to rise further, the central bank governor said on Thursday, as the coronavirus pandemic hammers its trade-and tourism-reliant economy.. . .  Full story

Indonesian govt finalises new rules for renewable electricity

10h33 Indonesia's government is finalising a draft regulation aimed at simplifying pricing for electricity from renewable sources and to encourage more investment in the sector, an energy ministry official said on Thursday.. . .  Full story

India, US set for military pact on satellite data during Pompeo visit

10h29 India is closing in on an agreement with the United States that will give it access to satellite data for better accuracy of missiles and drones, government and industry officials said, as it tries. . .  Full story

Japan ruling party member says there will 'surely' be a third extra budget

10h27 Japan's government will "surely" compile a third extra budget to help an economy devastated by the coronavirus, a senior ruling party lawmaker said on Thursday.. . .  Full story

Singapore's Grab says revenue nearly back to pre-pandemic levels

10h15 Singapore's Grab, which has evolved from a ride-hailing app operator to offer services such as food delivery and insurance, said on Thursday its third-quarter group revenue had risen to more than 95% of pre-COVID-19 levels.. . .  Full story

-Grab's Q3 revenue recovers to more than 95% of pre-pandemic levels

10h09 Singapore's Grab, which has evolved from a ride-hailing app operator to offer services such as food delivery and insurance, said on Thursday its third-quarter group revenue had risen to more than 95% of pre-COVID-19 levels.. . .  Full story

ADNOC pipeline investor Galaxy mandates banks for planned bond sales - document

09h49 Galaxy Pipeline Assets, which is owned by a consortium of investors that took a stake in ADNOC's gas pipeline assets, has mandated banks for sale of triple-tranche dollar bonds, a document showed.. . .  Full story

China stocks end lower as healthcare, industrials firms weigh

09h40 Chinese shares closed lower on Thursday, with healthcare and industrials stocks leading the declines, as investors looked past policymakers' vow to balance the need for stable economic growth and preventing financial risks.. . .  Full story

Japan's ANA to add budget carrier to loyalty programme as leisure demand outperforms-sources

09h16 ANA Holdings Inc will allow customers to redeem frequent flyer miles on its budget carrier Peach as it weighs boosting the proportion of domestic flights flown by the low-cost airline, three sources familiar with the. . .  Full story

Foreigners turn net sellers of Japanese equities for week ending Oct. 16

09h02 Foreign investors turned net sellers of Japanese equities last week, as the slow pace of U.S. stimulus talks and a surge in European COVID-19 cases dimmed global economic outlook.. . .  Full story

S. Korea finance minister loses home as housing policy comes back to haunt

08h42 South Korea's finance minister, the architect of rules aimed at protecting tenants and slowing deposit increases, has himself been forced to look for a new home as landlords react to the rules by quickly. . .  Full story

Toyota Tsusho bets on start-up Tugende's small loans to boost Africa business

08h36 The trading arm of the Toyota Group has invested $4 million in Ugandan start-up Tugende, saying it hopes the firm's loans to small, independent businesses will also help customers buy the carmaker's vehicles.. . .  Full story

Japan stocks end lower as firmer yen, U.S. political uncertainty weigh

08h22 Japanese shares ended weaker on Thursday, as a firmer yen threatened earnings of exporters and amid fears that agreement on a key U.S. stimulus bill will not be reached until after the presidential election. . .  Full story

Japan households' confidence slumps to decade low-BOJ

07h52 Japanese households' confidence in the economy slumped to a decade-low in the three months to September, a central bank survey showed, underscoring the pain the coronavirus pandemic has inflicted on the world's third-largest economy.. . .  Full story

JGBs mostly flat as traders eye U.S. political risk

07h21 Yields on Japanese government bonds were little changed on Thursday as traders avoided making big bets due to uncertainty over U.S. economic stimulus and caution ahead of U.S. presidential election on Nov. 3.. . .  Full story

Glencore sees logic in keeping coal, the market may disagree: Russell

07h09 Glencore wants to keep its coal mines but run them down over time, believing that this will be a better outcome for the climate than selling them to another operator or spinning them into. . .  Full story

China stocks fall as healthcare, industrial firms weigh; Hong Kong slips

06h44 Broad-based losses pulled China stocks lower on Thursday, with healthcare and industrials firms falling the most, even as policymakers vowed to balance the need for stable economic growth and preventing financial risks.. . .  Full story

Spurred by reform, China's niche LNG buyers to pour in investments, double imports

06h23 A group of niche Chinese gas firms is set to make waves in the global market with plans to invest tens of billions of dollars and double imports in the next decade as Beijing. . .  Full story

VW-backed EV battery maker Guoxuan eyes 100 GWh capacity by 2025

05h37 Chinese electric vehicle (EV) battery maker Guoxuan High-tech Co Ltd, which is backed by German automaker Volkswagen AG, plans to have annual battery manufacturing capacity of 100 GWh by 2025, an official said on Thursday.. . .  Full story

Sri Lanka cenbank holds rates steady, expects faster economic recovery

05h09 Sri Lanka's central bank left its key interest rates unchanged on Thursday, saying the economic recovery is expected to pick-up speed despite the latest increase in coronavirus cases.. . .  Full story

-Ant Group to launch $35 bln IPO after final nod from China regulator

05h05 China's Ant Group has won the final nod from the country's top securities watchdog for the registration of its Shanghai offering, the regulator said on Wednesday, clearing the last regulatory hurdle for its $35 billion. . .  Full story

Indian economy set for a near double-digit contraction this FY

05h05 The Indian economy will suffer its deepest contraction on record this fiscal year and recent government stimulus does not go far enough to significantly boost activity depressed by the coronavirus pandemic, according to economists polled. . .  Full story

Chinese online tutoring start-up Yuanfudao raises $2.2 bln, values firm at $15.5 bln

04h40 Beijing-based education technology startup Yuanfudao said on Thursday that it has secured $2.2 billion from major Chinese and international investors in two recent rounds of financing that it said lifts the company's valuation to $15.5. . .  Full story

Japanese airline operator ANA says considering reducing fleet size

04h31 Japanese airline operator ANA Holdings said on Thursday it was considering revamping its business including reducing its fleet size, as it grapples with a plunge in travel demand due to the COVID-19 pandemic.. . .  Full story

Japanese shares fall on rising yen, U.S. political uncertainty

04h29 Japanese shares fell on Thursday as a rise in the yen threatened earnings of export-focused stocks, while uncertainty ahead of the U.S. presidential election weighed on sentiment.. . .  Full story

Japan to ease entry rules for business trips of up to 3 days - report

04h14 Japan will ease entry restrictions on business travellers for stays of up to three days in a bid to revive economic activity after visits from abroad ground to a halt due to the COVID-19. . .  Full story

Turkey extends exploration in disputed Mediterranean waters to Oct. 27

21/10 Turkey said on Wednesday it extended the stay of its Oruc Reis survey vessel and two other ships in a disputed area of the eastern Mediterranean until Oct. 27, in a move likely to. . .  Full story

Brazil's BRF to halt Halal chicken plant for modernization work

21/10 Brazilian food processor BRF SA will stop production at a Halal chicken plant in the south of the country starting Nov. 16 for modernization work, the company said on Wednesday.. . .  Full story

Oman raises $2 bln in first bond deal in over a year

21/10 Oman sold $2 billion on Wednesday in its first international bond sale since July 2019 in a two-part debt offer as the small Gulf oil producer seeks to fill state coffers squeezed by low. . .  Full story

Ant Group to launch $35 bln IPO after final nod from China regulator

21/10 China's Ant Group has won the final nod from the country's top securities watchdog for the registration of its Shanghai offering, the regulator said on Wednesday, clearing the last regulatory hurdle for its $35 billion. . .  Full story

Indian refiner Nayara's Sept oil imports halve from Aug - trade

21/10 India's Nayara Energy Ltd, part-owned by Russian oil major Rosneft, halved its oil imports in September from the previous month, according to data from the shipping industry and sources, ahead of a major. . .  Full story

Libya's troubled oil sector sees new revival

21/10 Libya's oil sector, shattered by unrest since the toppling of long-time leader Muammar Gaddafi in 2011, is back on the rise.. . .  Full story

IMF cuts Asia's growth forecast, warns of pandemic-driven risks

21/10 The International Monetary Fund slashed this year's economic forecast for Asia, reflecting a sharper-than-expected contraction in countries like India, a sign the coronavirus pandemic continues to take a heavy toll on the region.. . .  Full story

IMF endorses Japan PM Suga's reform agenda, urges BOJ to review inflation goal

21/10 The International Monetary Fund gave a thumbs-up on Wednesday to plans by new Japanese Prime Minister Yoshihide Suga to maintain the thrust of his predecessor's "Abenomics" stimulus programmes, while pushing through reforms to revitalise the. . .  Full story

Hit by pandemic, Japan's ANA to suffer $4.8 bln net loss this year - source

21/10 Japanese airline operator ANA Holdings is expected to suffer a net loss of around 500 billion yen ($4.8 billion) for the fiscal year to March after the COVID-19 pandemic battered travel demand, a. . .  Full story

China to balance stable growth and risk prevention - cbank

21/10 China will strike a balance between stabilising economic growth and preventing risks, even as debt was allowed to temporarily rise this year to support the coronavirus-hit economy, the head of the central bank Yi. . .  Full story

Japan to pledge to cut emissions to zero by 2050 -Nikkei

21/10 Japan's government will soon commit to cutting greenhouse gas emissions to zero on a net basis by 2050, in a shift in its position on climate change, the Nikkei reported on Wednesday, without citing. . .  Full story

Asia Distillates-Benchmark gasoil crack edges up on inventory draw

21/10 Asia's benchmark 10ppm diesel crack edged up 2 cents and jet fuel refining margins rose 20 cents to a two-session high of $3 a barrel and 93 cents a barrel, respectively, as stocks. . .  Full story

Thailand eases more rules to attract foreign tourists

21/10 Thailand on Wednesday further eased coronavirus restrictions and plans to shorten a quarantine period to encourage foreign tourists, an official said, after the country welcomed its first vacationers since a ban in April aimed at. . .  Full story

Investors heap pressure on Vietnam's Vung Ang 2 coal power project

21/10 Investors with assets totalling $3.6 trillion are writing to sponsors and financiers to urge them withdraw from Vietnam's Vung Ang 2 coal power station project, which they say is incompatible with Paris agreement goals on. . .  Full story

China debt crackdown: regulators asking property developers for more details than expected

21/10 Chinese regulators are asking property developers to provide more details about their debts than markets had expected, as authorities look to tackle unbridled borrowing in the real estate sector, according to a document seen by. . .  Full story

China's fiscal revenues rise 4.7% in Q3 as economy gains steam

21/10 China's fiscal revenues grew 4.7% in the third quarter from a year earlier, reversing a 7.4% drop in the previous quarter, the finance ministry said on Wednesday, as the country's economic recovery picked up. . .  Full story

U.N. acting Libya envoy 'optimistic' on ceasefire talks

21/10 The United Nations' acting Libya envoy said on Wednesday she was "quite optimistic" that ongoing talks between the warring sides would lead to a lasting ceasefire, after they agreed to reopen land and air. . .  Full story

Shanghai exchange to hold mock trading for international copper futures

21/10 The Shanghai International Energy Exchange (INE) said on Wednesday it would hold two weeks of mock trading in its upcoming copper futures as the much anticipated launch of the contract, which is open to. . .  Full story

Japan's Nitori considers bid for Shimachu in challenge to DCM offer

21/10 Japanese furniture retailer Nitori Holdings Co said on Wednesday it may bid for Shimachu Co, threatening a plan for the home improvement retailer to be bought by its bigger rival DCM Holdings Co in $1.6. . .  Full story

Cathay Pacific to slash workforce, end Cathay Dragon brand due to pandemic

21/10 Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it would slash 5,900 jobs and end its regional Cathay Dragon brand, joining peers in cutting costs as it grapples with a plunge in demand. . .  Full story

EU opens anti-dumping probe into Chinese steel wind towers

21/10 The European Union has begun an anti-dumping investigation into imports from China of steel towers used for wind turbines, the EU official journal said on Wednesday.. . .  Full story

China vice premier says economy will very likely achieve positive growth this year

21/10 China's Vice Premier Liu He said on Wednesday the economy will very likely achieve positive growth this year, adding that China's prudent monetary policy should be kept appropriate and flexible, and liquidity reasonably ample.. . .  Full story

China shares inch lower as EVs, tech firms drag; optimism around economy caps losses

21/10 China shares ended lower on Wednesday, dragged down by profit-taking in new-energy vehicle and technology stocks due to their high valuations, while confidence in the country's economic recovery from the COVID-19 pandemic restrained the losses.. . .  Full story

Japanese stocks rise on U.S. stimulus optimism

21/10 Japanese shares closed higher on Wednesday as optimism that U.S. lawmakers could reach an agreement on a pre-election stimulus package lifted riskier assets globally.. . .  Full story

JGB drop in line with U.S. Treasuries on stimulus hopes

21/10 Japanese government bonds (JGBs) dipped on Wednesday, tracking an overnight rise in U.S. Treasury yields, as hopes that the United States was nearing a deal on coronavirus relief dampened the safe-haven appeal of debt.. . .  Full story

Thailand welcomes tourists back as Bangkok protests heat up

21/10 Thailand received a group of tourists from China on Tuesday, its first such arrivals since commercial flights were banned in April to combat the coronavirus pandemic, the visitors seemingly undeterred by escalating street demonstrations in. . .  Full story

Hong Kong shares gain on U.S. stimulus hopes; property stocks drag down Shanghai

21/10 China shares slipped on Wednesday, weighed down by property stocks on a gloomy outlook for the sector, while Hong Kong stocks rose for a fourth session as hopes of a new round of U.S.. . .  Full story

China says environment still grim despite 5 years of progress

21/10 China's environment conditions are "grim", falling short of public expectations even after five years of efforts to improve air quality, boost clean energy and curb greenhouse gas emissions, a senior official said on Wednesday.. . .  Full story

Malaysia's September CPI drops 1.4% y/y, more than forecast

21/10 Malaysia's consumer price index (CPI) fell for the seventh straight month in September, declining 1.4% from a year earlier, government data showed on Wednesday.. . .  Full story

BOJ member says swift action needed if COVID-19 delays economic recovery

21/10 Bank of Japan board member Makoto Sakurai said on Wednesday the central bank must take "swift and appropriate" action if the coronavirus shock delays the country's economic recovery.. . .  Full story

China forecasts Lunar New Year pork supplies to be 30% higher than year ago

21/10 Pork supplies during the upcoming Lunar New Year holiday in China, the world's top consumer, will be 30% higher than a year ago, an agriculture official said on Wednesday, after significant efforts to rebuild a. . .  Full story

Japan shares recover on U.S. stimulus hopes

21/10 Japanese shares on Wednesday recovered from losses in the previous session as optimism that U.S. lawmakers could reach an agreement on a pre-election stimulus package lifted riskier assets.. . .  Full story

China's 2020 auto production and sales could return to 2019 levels - govt official

21/10 China's 2020 auto production and sales may possibly be close to last year's levels should they keep growing in the fourth quarter, an official from the country's state planner said on Wednesday.. . .  Full story

S.Korea Oct 1-20 exports drop 5.8% on year

21/10 South Korean exports returned to contraction in the first 20 days of October after growing in September, government data showed on Wednesday.. . .  Full story

Russia's Novak says premature to talk about OPEC+ plans beyond 2020

20/10 Russia's energy minister said on Tuesday it was too early to discuss the future of global oil production curbs beyond December, less than a week after saying plans to reduce the output restrictions should. . .  Full story

Thailand welcomes backs tourists after April virus ban as political protests heat up

20/10 Thailand received a group of tourists from China on Tuesday, its first such arrivals since a ban on commercial flights was imposed in April to combat the coronavirus pandemic, a senior official said, as. . .  Full story

Japan's Nitori considers hostile bid for Shimachu, Nikkei reports

20/10 Japanese furniture retailer Nitori Holdings Co is considering making a bid for Shimachu Co that would challenge an offer for the home improvement retailer made by DCM Holdings, the Nikkei business daily reported.. . .  Full story

Iraq flags oil project delays, sees recovery next year -minister

20/10 The Iraqi oil minister said on Tuesday that oil projects are being delayed in his country because of the OPEC+ production cuts, but he expects an oil price recovery from the second quarter of. . .  Full story

Sudanese strains surface as U.S. pressure triggers debate on Israel

20/10 U.S. pressure on Sudan to normalise ties with former adversary Israel has stirred public debate on a topic that was long taboo, exposing splits that could complicate any swift settlement of. . .  Full story

Botswana sees 7.7 % growth in 2021 on diamond industry recovery

20/10 Botswana's economy will rebound and grow 7.7% in 2021 from a 8.9% contraction forecast this year, on the back of improved sentiment in the global diamond industry, the finance minister said. . .  Full story

Oman's bond market return to test credibility of reform path

20/10 Oman's return to the international bond market this week will be a test of its ability to convince investors that long-awaited fiscal reforms have started to put it on a sustainable financial footing.. . .  Full story

China crude storage flows accelerate as last of cheap oil offloads: Russell

20/10 China's flow of crude oil into storage accelerated in September, reversing two months of declines, as the world's biggest importer of the fuel continued to work its way through massive volumes purchased during a brief. . .  Full story

Asia Distillates-10ppm crack falls as renewed lockdowns hurt demand

20/10 Asia's benchmark 10ppm diesel crack dived 13.1% to hit a three-week low of $2.98 a barrel to Dubai crude, while jet fuel cash differential was also at its lowest since end September <JET-SIN-DIF>. . .  Full story

Emerging-market cross-border lending sinks for first time since 2016, BIS says, led by Latam

20/10 Cross-border lending to emerging markets fell in the second quarter for the first time since 2016, mainly driven by a decline of $43 billion in Latin America and the Caribbean, the Bank for International. . .  Full story

Egypt has more than four months of sugar reserves -official

20/10 Egypt has more than one million tonnes of sugar reserves, sufficient for over four months, an agriculture ministry official said on Tuesday.. . .  Full story

Israeli pipeline company signs deal to bring UAE oil to Europe

20/10 Israeli pipeline company EAPC said on Tuesday it had signed a preliminary deal to help transport oil from the United Arab Emirates to Europe via a pipeline that connects the Red Sea city of. . .  Full story

Japan's Nishimura hopes to meet British trade minister if she visits

20/10 Japan's economy minister, Yasutoshi Nishimura, hopes to meet British trade minister Liz Truss to discuss a trans-Pacific trade pact on a visit to the Asian nation that is being arranged but not yet finalised,. . .  Full story

Thousands join protest against Indonesia jobs law

20/10 Several thousand students and workers protested in Indonesia's capital Jakarta on Tuesday against President Joko Widodo's new jobs law, the latest in a series of rallies opposing legislation that the government says is needed to. . .  Full story

Cathay Pacific to cut 6,000 jobs, axe Cathay Dragon brand -SCMP

20/10 Hong Kong's Cathay Pacific Airways Ltd will cut around 6,000 jobs, or 18% of its workforce, and axe regional brand Cathay Dragon to help it weather the coronavirus pandemic, the South China Morning Post. . .  Full story

Hong Kong's July-Sept unemployment at near 16-yr high, pressure remains

20/10 Hong Kong's seasonally adjusted unemployment rose slightly to 6.4% in the period from July to September, as government relief measures provided some support and coronavirus curbs helped contain infections in an economy already in recession.. . .  Full story

Consumer firms, tech giants nudge Hong Kong shares higher

20/10 Hong Kong shares ended marginally higher on Tuesday, supported by gains in consumer firms and Chinese tech giants, but investor caution ahead of Nov. 3 U.S. presidential election and concerns over surging global COVID-19 cases. . .  Full story

Didi lines up 2021 IPO in Hong Kong, targets more than $60 bln valuation, sources say

20/10 China's top ride-hailing firm Didi Chuxing is considering Hong Kong for a multibillion-dollar initial public offering next year, dropping previous aims to list in New York amid rising Sino-U.S. tension, people with knowledge of the. . .  Full story

Philippines' PNOC aims to start S.China Sea venture with CNOOC by 2021

20/10 The president of the exploration arm of the Philippine National Oil Company (PNOC) said on Tuesday the company aimed to start an energy exploration venture with China National Offshore Oil Corp (CNOOC) in the. . .  Full story

China shares claw higher as economic recovery quickens

20/10 China shares ended higher on Tuesday in a relatively tepid session, as optimism over recovering consumption lifted the benchmark index, though data showed a slowdown in new home price growth in the world's second-largest economy. **. . .  Full story

S.Korea finmin to issue 2-year treasury bonds on regular basis

20/10 South Korea's finance ministry said on Tuesday it plans to issue 2-year treasury bonds on a regular basis, starting next January, to diversify demand for the nation's record debt sales planned for this. . .  Full story

Malaysia's Oct. 1-20 palm oil exports rise 4.3% m/m -AmSpec Agri

20/10 Exports of Malaysian palm oil products for Oct. 1-20 rose 4.3% to 1,084,701 tonnes from 1,040,085 tonnes shipped during Sept. 1-20, according to independent inspection company AmSpec Agri Malaysia on Tuesday.. . .  Full story

BOJ to cut growth, inflation forecasts as pandemic pain persists - sources

20/10 Japan's central bank is expected to cut its growth and price forecasts for the current fiscal year at next week's rate review, sources familiar with its thinking said, as the coronavirus pandemic weighs on. . .  Full story

Shanghai shares sag as China's home prices grow at slowest rate since 2016

20/10 Shanghai shares edged lower on Tuesday, as data showing a slower pace of growth in new home prices dragged on stocks of banks, industrial firms and property developers. ** New home prices in China grew. . .  Full story

Stock market boom, new listings mint China billionaires at record pace

20/10 China is minting new billionaires at a record pace despite an economy bruised by the coronavirus pandemic, thanks to booming share prices and a spate of new stock listings, according to a list released. . .  Full story

Japan regulators plan on-site probe of Tokyo exchange, media say

20/10 Japan's Financial Services Agency (FSA) will conduct an on-site investigation of the Tokyo Stock Exchange (TSE) and may issue a business improvement order after a system failure caused a full-day trade suspension earlier this month,. . .  Full story

China's new home prices grow at slowest rate since 2016 on tighter rules

20/10 New home prices in China grew at their slowest pace in over 4-1/2 years as tightening measures in some big cities helped cool the property market despite a broader economic recovery.. . .  Full story

Japanese shares slide on caution about U.S. stimulus package

20/10 Japanese shares fell on Tuesday, tracking a lower close on Wall Street, as investors cautiously looked to whether U.S. lawmakers could reach an agreement on a stimulus package against the backdrop of a deadline. . .  Full story

China keeps lending benchmark LPR steady for 6th straight month as expected

20/10 China kept its benchmark lending rate for corporate and household loans steady for the sixth straight month at its October fixing on Tuesday, encouraged by an extended recovery in the world's second-largest economy from the. . .  Full story

China's new home prices rise 0.4% m/m in September

20/10 New home prices in China grew at a slightly slower monthly pace in September, data showed on Tuesday, weighed down by tightening measures in some big cities to curb a potential market bubble.. . .  Full story

Singapore's Ocean Tankers wants to return most ships to owners - sources

20/10 The court-appointed manager for Ocean Tankers Pte Ltd has applied to the Singapore court to return most of the ships the company manages to the shipowners, as cash is running low and Ocean Tankers. . .  Full story

Russia's Novak sees more uncertainty on oil market in winter

19/10 Russian Energy Minister Alexander Novak said on Monday the oil market will likely see more uncertainty in winter when demand for fuel typically declines.. . .  Full story

Output at Libya's Sharara oilfield rises to around 150,000 bpd -sources

19/10 Production at Libya's Sharara oilfield has risen to around 150,000 barrels per day, around half its capacity, two industry sources with knowledge of the matter told Reuters on Monday.. . .  Full story

Worried about weak oil demand, OPEC pledges action

19/10 OPEC and allied producers on Monday pledged action to support the oil market as concerns mounted that a second wave of the COVID-19 pandemic will hobble demand and an earlier plan to raise output. . .  Full story

OPEC+ makes no new proposal on policy from Jan 2021 - draft

19/10 A key OPEC+ ministerial panel has made no new policy proposals from January 2021, according to a draft OPEC+ statement seen by Reuters. (Reporting by OPEC newsroom; Writing by Dmitry Zhdannikov; Editing by Jan Harvey). . .  Full story

Saudi retail chains join growing informal boycott of Turkish products

19/10 Saudi Arabia's biggest supermarket chains this week joined a growing boycott of Turkish imports proposed by business leaders and Saudis on social media, as political tensions spilled into trade between the two regional powers.. . .  Full story

UAE firms sign agriculture deals in Israel as pact approved

19/10 Israeli irrigation company Netafim has agreed to open an office in the United Arab Emirates, UAE state news agency WAM said, under one of four deals announced on Monday in the wake of a. . .  Full story