Daily brief: Top 7 business stories for today
Here are the top seven business stories you need to know today:
After Saudi Arabia’s suspension, Egypt eyes Iran for oil
Egyptian Petroleum Minister Tarek El Molla was on his way to Iran on Sunday to try to strike new oil deals, sources close to his delegation said at Cairo airport, after Saudi Arabia suspended its oil agreement last month, according to Reuters.
KSA to push automotive, pharmaceutical and solar industries
In a bid to further diversify its economy, Saudi Arabia will push automotive, pharmaceutical and solar industries, the kingdom’s Energy Minister, Khalid Al-Falih, said.
Hyperloop One teaser reveals Dubai project details
High-speed transportation system, Hyperloop One, has revealed a teaser video highlighting the futuristic announcement it plans to make in Dubai on November 8.
“Dubai to Abu Dhabi in 12 minutes, Dubai To Riyadh in 48 minutes, Dubai to Doha in 23 minutes, Dubai to Muscat in 27 minutes,” the promotional teaser stated, highlighting the potential of the high-speed transportation method when completed.
ADIPEC kicks-off in Abu Dhabi
The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) welcomes thousands of professionals from the oil and gas industries today, as it begins activities for its 19th edition.
This year, ADIPEC is held under the theme of “Strategies for the New Energy Landscape” and will bring more than 2,000 companies, 25 country pavilions, 700 speakers and more than 100,000 trade professionals.
FBI clears Clinton in email investigation review
Just one days before the US presidential elections, the FBI said it stands by its earlier findings on the email investigation of US presidential candidate Hillary Clinton. More on the US elections here.
Oil prices revived after week of sharp falls
Oil prices rose on Monday after reaching the lowest point since August. Despite the rise, market fundamentals remain weak and analysts said a planned output cut, which was set to be agreed on during a meeting of OPEC and non-OPEC members on November 30, was encountering hurdles, according to Reuters.
Despite Trump, Morocco will stick to climate pact
Morocco will not be turning away from a global accord to combat climate change, the country’s oil minister said, amid fears that Donald Trump will try to pull out of the agreement if he wins the US presidency.
The 2015 Paris Agreement aims to slow global warming by shifting from fossil fuels.