Daily brief: Disney creates Snapchat shows, oil prices rise on weaker dollar
Walt Disney’s US television arm will create shows for Snapchat application. Oil prices nudged higher in tepid Asian trading on Thursday, supported by a weaker dollar and optimism that crude producers would abide by an OPEC deal. Here are the top seven business stories you need to know today.
Kuwait’s central bank fine-tunes governance of Islamic banks
Kuwait’s central bank has issued new governance rules for Islamic banks, including requirements for external sharia audits, as regulators seek more transparency and accountability in the sector.
Libya’s Sharara oilfield resumes production after pipeline blockade lifted
Production at the major Libyan oilfield of Sharara reached 58,000 barrels on Wednesday as operations gradually resumed after the lifting of a two-year pipeline blockade, the National Oil Corporation (NOC) said.
Disney will create shows for Snapchat
The Walt Disney Company’s U.S. television arm will create shows for Snap Inc’s Snapchat, Disney announced on Wednesday, in Snapchat’s latest deal with a major U.S. media company.
Dubai plans small 2017 budget deficit as it boosts infrastructure spending
Dubai plans to post a small budget deficit next year of AED2.5 billion ($681 million), or 0.6 per cent of gross domestic product, as it sharply raises spending on infrastructure, the government said on Wednesday.
Zain Iraq to pay $94mn to settle Iraqna tax case
Zain Iraq will pay $94 million to settle a tax case related to the 2007 acquisition of rival operator Iraqna from Egypt’s Orascom Telecom, its Kuwaiti parent Zain said on Wednesday.
Oil prices rise on weaker dollar, optimism on output cuts
Oil prices nudged higher in tepid Asian trading on Thursday, supported by a weaker dollar and optimism that crude producers would abide by an agreement to curb output to prop up markets.
Kuwait fund signs loan agreement for financing substation in Cote d’Ivoire
Kuwait Fund for Arab Economic Development and the Republic of Cote d’Ivoire signed a loan agreement in Abidjan on Wednesday, whereby the fund will lend the republic about $23.8 million to assist in financing a Substation Construction Project.