Saudi calls OPEC members to stick to limits, sees oil demand up

Saudi calls OPEC members to stick to limits, sees oil demand up

OPEC leader Saudi Arabia said on Monday the group would quickly address weak compliance with output cuts by some OPEC states and would monitor rising production from Nigeria and Libya, which have been exempted from the curbs. OPEC has agreed with several non-OPEC producers led by Russia to cut oil output by a combined 1.8 million bpd from January 2017 until the end of March.


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Ride-hailing firm Grab to get $2.5 billion as firms pump funds into SE Asia startups

Ride-hailing firm Grab to get $2.5 billion as firms pump funds into SE Asia startups

Ride-hailing firm Grab expects to raise $2.5 billion to spend extending its lead over Uber Technolgies Inc and expanding into financial services, in the latest injection of funds into Southeast Asia's burgeoning tech scene. Chinese peer Didi Chuxing and Japan's SoftBank Group Corp will contribute most of the money, which a person close to the Singapore-based firm said would value it at $6 billion. The investment would be the latest in a Southeast Asian tech startup as major companies seek growth in the region's huge developing economies with young, tech-savvy demographics.


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