Daily brief: Disney creates Snapchat shows, oil prices rise on weaker dollar

December 22, 2016 10:05 am

Closeup stack of newspapers. (Image: Alamy)

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.

 

(Also: Libya’s NOC reopens oil pipelines, expects 270,000 bpd boost in 3 months)

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.

(Snapchat vs Instagram Stories)

 

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.

 

(Iraq gets new World Bank loan to cope with low oil price)

 

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.

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By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.



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