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Oil prices rise as US debt default risk diminishes

SINGAPORE: Oil prices rebounded on Friday from losses of more than 1 percent the previous day as investors turned cautiously optimistic over the fading risk of a US debt default, according to Reuters. Brent futures rose 59 cents, or 0.8 percent, to $76.45 a barrel by 7:20 a.m. Saudi time, while US West Texas Intermediate crude climbed 48 cents, or 0.7 percent, to $72.34.
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TASI rises 71.58 points with Food & Beverage sector leading

RIYADH: Saudi Arabia’s Tadawul All Share Index gained 71.58 points, or 0.64 percent, to close at 11,277.60 on Wednesday as 136 of the 224 stocks finished in the green, while 75 ended in the red. The top performing sector of the Saudi Stock Exchange was Food & Beverages, which soared 2.35 percent, while the Insurance and Banks sectors followed by 1.70 and 1.50 percent, respectively. While the parallel market Nomu rose 0.88 percent to close at 20,864.69, the MSCI Tadawul Index edged up 0.85 percent to close at 1,517.45.
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Saudi Arabia’s NDMC Raises $6 Billion from Islamic Bond Sale

RIYADH: Saudi Arabia’s National Debt Management Center has raised $6 billion from the sale of Islamic bonds, or sukuk, under its Global Trust Certificate Issuance Program. A statement issued on Tuesday said the Kingdom sold a $3 billion six-year tranche at 80 basis points over US Treasuries and another $3 billion in 10-year notes at 100 bps over UST.  Order books for the deal hit over $27 billion, it added. The bid-to-cover ratio reflects the strong demand for the Kingdom’s issuances, confirming the international investors’ confidence in the Saudi economy.
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Challenges After Venezuela Summit: A Tough Road Ahead

Conference in Colombian capital marks positive step, analysts say, but quick fix to Venezuelan crisis unlikely.
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India Accuses China of Border Agreement Violation

Indian defence minister held 'frank discussions' with his Chinese counterpart, India’s defence ministry says.
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India’s Holy City: Where Elderly Hindus Embrace Death (with Photos)

In Varanasi, the elderly can break the tenuous cycle of death and rebirth, an article of faith for many Hindus.
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IMF Predicts UK to be One of Worst Performing Economies in 2021

It is predicted to be the worst performing out of the G20 nations in 2023, including Russia.
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