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OPEC+ began its meeting on Thursday, seeking to resolve a deadlock on oil quotas and consider further production cuts to shore up flagging crude prices.

By Robert Harvey

© 2023, The Economist Newspaper Limited. All rights reserved. From The Economist, published under licence. The original content can be found on www.economist.com

Quiver Quantitative — The Organization of the Petroleum Exporting Countries (OPEC+) and its allies, led by Russia, are deliberating new oil production cuts, potentially reducing output by as much as 1 million barrels a day. This significant proposal comes amidst the ongoing Middle East conflict and could lead to a surge in oil prices. Initially scheduled for last week, the OPEC meeting was postponed due to disagreements over production quotas and is now set to occur virtually. While a consensus on further cuts remains uncertain, with some members opposing the reduction, Saudi Arabia has expressed strong support for the measure.

London-based crypto trading firm Copper plans to start offering tokenized securities early next year, according to reports on Nov. 29. Under the leadership of former British Chancellor Phillip Hammond, the company expects to capitalize on institutional investors' demand.

By Maha El Dahan, Olesya Astakhova and Ahmad Ghaddar

In a high-profile showdown, Rome, Busan, and Riyadh are the top contenders to host the next World Expo, in 2030, as the organizing body prepares to vote on Tuesday in Paris

SINGAPORE (Reuters) -Oil prices rose slightly on Tuesday due to a weak dollar, and expectations that the OPEC+ producer group would deepen and extend output cuts due to fears demand would remain subdued.

Investing.com-- Oil prices rose in Asian trade on Tuesday as media reports suggested that the OPEC+ planned to extend or even deepen its ongoing production cuts at a meeting later this week. 

Russian crude. The region’s imports of diesel from India, one of the biggest buyers of Russian crude, are on course to soar to 305,000 barrels a day, the most since at least January 2017, data from market-intelligence firm Kpler show. While it’s not possible to say with certainty that the molecules originated in Russia — India also processes oil from elsewhere — Moscow’s deliveries have given Indian refineries the ability to produce abundant diesel and boost exports.

While it’s not possible to say with certainty that the molecules originated in Russia — India also processes oil from elsewhere — Moscow’s deliveries have given Indian refineries an ability to produce abundant diesel and boost exports. Arrivals into Europe in November include a rare shipment from Mumbai-based Nayara Energy Ltd., which imported almost 60% of its crude from Russia this year, according to Kpler. Reliance Industries Ltd., Europe’s top supplier of Indian diesel, draws more than third of its crude from Russia, the figures show. The surge in diesel imports from India also illustrates a fundamental shift in oil trading in the wake of the Kremlin’s war in Ukraine. A year ago, Russia was Europe’s top supplier of diesel, a fuel vital to the industrial and transport sectors. The European Union banned most seaborne imports of Russian crude in December and oil products in February.

commerce ministry is working to address issues related to non-tariff barriers and market access for domestic products in sub-Saharan African countries like Nigeria, Ethiopia, Ghana and Gulf nations to boost India's exports, an official said. The official said meetings have been held with Indian missions of the sub-Saharan African countries with which India has significant bilateral trade. The major trading partners of India in that region in 2022-23 were South Africa (total trade USD 18.9 billion, exports USD 8.5 billion); Nigeria (USD 11.85 billion, exports USD 5.15 billion); Togo (USD 6.6 billion, exports USD 6 billion), and Tanzania (USD 6.5 billion, exports USD 3.93 billion). The other countries were Mozambique (USD 5 billion, exports USD 2.5 billion); Angola (USD 4.22 billion, exports USD 621 million); and Kenya (USD 3.4 billion, exports USD 3.2 billion). «A virtual meeting with Indian Mission of top 10 countries (bilateral trade-wise) in sub-Saharan African region was held in September to discuss the overall economic and commercial relations with those countries, export performance and non-tariff barriers which are acting as impediments to bilateral trade and enhance exports,» the official said. A similar meeting was also held with Indian Missions in GCC countries. GCC is a union of six countries in the Gulf region — Saudi Arabia, the UAE, Qatar, Kuwait, Oman, and Bahrain.

By Paul Carsten

Saudi Arabia has introduced stricter rules for issuing visas to recruit domestic workers from abroad, saying that the minimum age for a single employer to obtain such a visa is 24 years. The regulations, recently announced by Musaned, a government platform overseeing domestic labor in Saudi Arabia, outline specific eligibility criteria for visa applications. Under these rules, Saudi citizens, Gulf nationals, foreign wives of Saudi men and their mothers, along with holders of Saudi premium residency permits, can apply for visas to hire overseas domestic labor, contingent on the financial capabilities of the employers. This move comes as part of Saudi Arabia's efforts to streamline and regulate the domestic labor market. The Ministry of Human Resources has established the Musaned platform to empower customers with information about their rights, duties, and related services. These services encompass visa issuance, recruitment requests, and the contractual relationship between employers and workers. The Musaned platform facilitates wage transfers to labor through digital services such as STC pay and Urpay apps. Additionally, it offers features like the transfer of a house worker's service between employers, authentication of domestic labor contracts, and the resolution of disputes. The Ministry emphasizes the necessity of conducting contracting through Musaned, which serves as the official recruitment platform for domestic labor in the country.

Scores of hostages have been freed, and the pause in the fighting has also allowed humanitarian relief to reach thousands. This may not be the end of the conflict, which has claimed over 11,000 lives since Hamas’ 7 October terror attack. But how exactly did we get here? The truce was brokered by the United States, Qatar, and Egypt.

By Ateeq Shariff

New Delhi: India plans to showcase the Global Biofuels Alliance (GBA) at the upcoming UN Climate Conference (COP28) in the UAE, one of the world’s leading oil-producing nations. As part of the advocacy, the government also plans to light up the iconic Burj Khalifa with ‘GBA’, said two people aware of the development. The marquee alliance with India, the US and Brazil as its founding members was launched at the G20 summit hosted by New Delhi in September, and has grown rapidly, with a total of 22 countries having agreed to join the GBA.

₹6,338 per bbl, having swung between ₹6,330 and ₹6,436 per bbl during the session, against a previous close of ₹6,374 per barrel. -The first group of hostages freed from captivity in Gaza returned to Israel on Friday, on the first day of a planned four-day truce during which further exchanges of hostages for Palestinian detainees are due to take place.

La Liga match on Sunday. Real Madrid has 32 points from 13 matches and is at the second place. Cadiz has 10 points from 12 games and is reeling at 16th place. The La Liga soccer game between Real Madrid and Cádiz will be played at Estadio Nuevo Mirandilla on Sunday, November 26. The kick off is scheduled at 12.30 pm (ET) and 9.30 am (PT). In the US, Real Madrid vs Cádiz soccer game will be live telecast on ESPN+. The live streaming of the game will be available on fubo TV. fubo TV is available on a free trail basis. Real Madrid's match against Cadiz is likely to be a smooth affair for Galacticos as experts predict 3-1 victory for Carlo Ancelotti's side. Madrid visits 16th-place Cadiz on Sunday needing to find replacements for forward Vinícius Júnior and multi-use midfielder Eduardo Camavinga. Vinícius tore a leg muscle in his left leg during Brazil's 2-1 loss at Colombia on Friday. That should sideline the player who was key to Madrid winning its 14th European Cup two seasons ago for several weeks. Vinícius' injury leaves Carlo Ancelotti without one of his top scorers after Karim Benzema left in the offseason for Saudi Arabia. Newcomer Jude Bellingham has so far picked up the scoring load with a league-high 10 goals and 13 goals in all competitions. The 23-year-old Vinícius has chipped in with six goals overall. Vinícius' absence could open the door for Joselu to start alongside Rodrygo in attack, and perhaps lead to more minutes for Luka Modric or Brahim Díaz. The 38-year-old Modric has become a second-half substitute for Ancelotti this season after being a career starter.

India’s private sector investment pickup will not be broad-based and will follow the pattern of international investments in the country, said a top functionary of management consultancy firm Arthur D Little. “Private capex will not be so spread out across sectors. Those sectors where international players have come in, you will see private capex coming in because there will be support infrastructure required for those large industries,” Thomas Kuruvilla, managing partner of Arthur D Little Middle East and India, told ET. Experts have been pointing out that private investment will be the primary driver of economic activity in the coming fiscal year. “We have many international investors coming into India, like Apple.

Ben Stokes to miss next year's IPL, will focus on Test series against India "Yes, I can confirm that there have been talks of Hardik going to MI. There remains a chance that he might switch sides but at this moment, nothing more can be confirmed as of now as the deal is yet to be signed," said an IPL source to PTI news agency.