OPEC+ Extends Voluntary Oil Production Cuts Amid Geopolitical Tensions
OPEC+ extends voluntary oil production cuts for three months in a bid to boost oil prices amidst geopolitical tensions. The decision aims to counteract escalating US production and lackluster global demand, which have driven oil prices down. Despite recent turmoil in the Middle East, oil prices remain below $100 per barrel, prompting the widely anticipated extension of production cuts. Saudi Arabia, a key player in the cuts, has reduced its output by 1 million barrels per day and abandoned plans to expand production capacity, signaling a shift in approach.
Americana Restaurants International Plc Restructures and Cuts Jobs Amid Consumer Boycott
Americana Restaurants International Plc, the Middle East operator of KFC and Pizza Hut, has undergone internal restructuring and cut almost 100 jobs in response to a consumer boycott of its brands following the Israel-Hamas war. The company, listed in Abu…
Saudi Arabia’s Cultural Revolution: Opera and Art Take Center Stage
Opera and art are taking center stage in Saudi Arabia as the kingdom embarks on a cultural revolution to boost tourism and showcase its rich heritage. The £50 billion gamble to bring opera and art to Saudi Arabia is a…