Business


OPEC figures show oil output cuts exceeded pledge in March

Brent crude, a global benchmark, was down 2 cents, or less than 0.1%, at $55.96/bbl at 4:17 p.m.in Dubai, after falling as much as 0.5% earlier in the day. Oil is riding its longest winning streak since December on optimism Saudi Arabia will support an extension to Opec-led output cuts just as United States stockpiles show signs of shrinking.


VP Pence praises Indonesia's democratic, tolerant values

VP Pence praises Indonesia's democratic, tolerant values

The South China Sea, where China's territorial claims, land reclamation and construction have drawn criticism from its neighbors and the USA, is also likely to factor in talks between Pence and Turnbull. It was also the first visit of a USA high-ranking official at ASEAN headquarters in Jakarta after former U.S. secretary of state Hillary Clinton visited during Cambodia's ASEAN chairmanship in 2012.


Saudi Energy Minister Praises OPEC Oil Price Boost

Saudi Energy Minister Praises OPEC Oil Price Boost

A surprise build in U.S. gasoline stocks last week triggered a sharp sell-off across the oil complex Wednesday, even though weekly USA inventory data also showed draws in both crude and distillate inventories. Still, increased supplies from producers in the fourth quarter of 2016 is now "a dark cloud hanging over the market" and a failure to extend the output agreement would send prices "precipitously lower", they said.



Trump order to target foreign worker visa programme

He said the order sets in motion the first steps to initiate "long-overdue" reforms to end "visa abuses". In Kenosha, Trump said the H-1B program "should include only the most skilled and highest-paid applicants and should never, ever be used to replace American workers".


U.K. Parliament approves Theresa May's snap vote

U.K. Parliament approves Theresa May's snap vote

There were also a number of abstentions. Britain will lose more than the European Union from its decision to leave the bloc, the EU's top diplomat said on Thursday, and talks with London were expected to be hard. Sir, - Theresa May's surprise announcement that Britain will be going to the polls (again) on June 8th should be welcomed this side of the Irish Sea.


Britain must pay EU divorce bill in euros: document

Britain must pay EU divorce bill in euros: document

The brush-off in Berlin shows the struggle that remains for Prime Minister Theresa May to convince even some of her more sympathetic European counterparts to give Britain the best possible Brexit deal. "The European Parliament will vote against only if the citizens rights is outside". It added: "We go into these negotiations in a spirit of goodwill and seeking a constructive agreement".