ARN News Centre

Russia foreign minister hopes for oil deal in UAE

Tuesday, 2 February 2016 10:31

Moscow hopes to strike a deal with GCC countries to prop up the oil market as its foreign minister visits the Emirates. Sergey Lavrov is scheduled to meet UAE leaders in Abu Dhabi, before heading to Oman. Russia’s economy is hit hard by the effects of falling oil prices, and hopes OPEC’s proposal to cut production by 5% pushes through. It’s unusual for Lavrov to travel on an economic mission. Our reporter Albina Kovalyova talks about the importance of the trip.

Also on the agenda is the fresh round of peace talks in Geneva, aimed at finding a solution to Syria’s five-year-old civil war.

More from Business

Dubai Chambers, Standard Chartered to support global expansion of local businesses

Dubai Chambers and Standard Chartered signed a Memorandum of Understanding (MoU) to enhance collaboration aimed at fostering the growth of UAE businesses and supporting their expansion into promising global markets.
OPEC+ postpones output policy meeting to December 5

The OPEC+ alliance of oil-producing countries has postponed its next meeting on output policy to December 5 from December 1 to avoid a conflict with another event, OPEC said on Thursday.
UAE, Philippines expand cooperation

The UAE and the Philippines have signed key agreements in several new areas of cooperation, including in culture, energy transition, AI, and diplomacy, during President Marcos’ working visit to the UAE this week.
Microsoft faces wide-ranging US antitrust probe

The US Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday.
UAE President chairs ADNOC board meeting, approves $80 billion investment arm

The UAE's President His Highness Sheikh Mohamed bin Zayed Al Nahyan has chaired the annual meeting of the ADNOC Board of Directors.