TEHRAN // Iran's oil minister said on Monday Opec might meet before its planned gathering in December if current market conditions continued and added non-Opec producers should help the group manage supply and demand. Gholamhossein Nozari, the oil minister, said he understood that Russia had announced that it was ready to work with Opec to manage the market. Iran is Opec's second largest producer. Opec agreed at an emergency meeting on Oct 24 to reduce production by 1.5 million barrels per day, or around 5 per cent, to halt a plunge in the price of crude from a peak of $147 per barrel in July. US crude traded at $64.90 on Monday. "Opec's decision is that if the existing conditions continue there is a probability that Opec's meeting will be before December," Mr Nozari said at an energy exhibition in Tehran. "Our principle discussion in the next meeting will be about supply and demand and we will have to manage this. Non-Opec producers must join Opec (to manage the market)," he said. Oil, which lost nearly 10 per cent last week, rose more than 3 per cent on Monday, fuelled by Saudi Arabia's plans to cut December supplies to Asia and hopes that global economies' plans to lift growth could avert recession. Russian Deputy prime minister Igor Sechin last week said Russia will work with Opec but would set production policies independently. Increased co-operation between Russia, one of the world's largest energy producers, and the Opec exporter group has raised consumer nations' concerns they may act together to exert control over the market. "In the news we have from Russia, they have announced readiness to co-operate with Opec," Mr Nozari said. *Reuters
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Company%20Profile
Who is Tim-Berners Lee?
Sir Tim Berners-Lee was born in London in a household of mathematicians and computer scientists. Both his mother, Mary Lee, and father, Conway, were early computer scientists who worked on the Ferranti 1 - the world's first commercially-available, general purpose digital computer. Sir Tim studied Physics at the University of Oxford and held a series of roles developing code and building software before moving to Switzerland to work for Cern, the European Particle Physics laboratory. He developed the worldwide web code as a side project in 1989 as a global information-sharing system. After releasing the first web code in 1991, Cern made it open and free for all to use. Sir Tim now campaigns for initiatives to make sure the web remains open and accessible to all.
Company Profile
Founders: Tamara Hachem and Yazid Erman
Based: Dubai
Launched: September 2019
Sector: health technology
Stage: seed
Investors: Oman Technology Fund, angel investor and grants from Sharjah's Sheraa and Ma'an Abu Dhabi
Q&A with Dash Berlin
Welcome back. What was it like to return to RAK and to play for fans out here again?
It’s an amazing feeling to be back in the passionate UAE again. Seeing the fans having a great time that is what it’s all about.
You're currently touring the globe as part of your Legends of the Feels Tour. How important is it to you to include the Middle East in the schedule?
The tour is doing really well and is extensive and intensive at the same time travelling all over the globe. My Middle Eastern fans are very dear to me, it’s good to be back.
You mix tracks that people know and love, but you also have a visually impressive set too (graphics etc). Is that the secret recipe to Dash Berlin's live gigs?
People enjoying the combination of the music and visuals are the key factor in the success of the Legends Of The Feel tour 2018.
Have you had some time to explore Ras al Khaimah too? If so, what have you been up to?
Coming fresh out of Las Vegas where I continue my 7th annual year DJ residency at Marquee, I decided it was a perfect moment to catch some sun rays and enjoy the warm hospitality of Bab Al Bahr.
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Ferrari
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Killing of Qassem Suleimani
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One star
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Rating: 4/5
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Ki-Jana Hoever
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Yasser Larouci
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
While you're here
THE SPECS
Jaguar F-Pace SVR
Engine: 5-litre supercharged V8
Transmission: 8-speed automatic
Power: 542bhp
Torque: 680Nm
Price: Dh465,071
Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
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COMPANY%20PROFILE
A%20QUIET%20PLACE
SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Women%E2%80%99s%20Asia%20Cup
Disclaimer
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Stars: Tom Holland, Zendaya, Jacob Batalon
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY PROFILE
Wicked
Draw
Quarter-finals
Real Madrid (ESP) or Manchester City (ENG) v Juventus (ITA) or Lyon (FRA)
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Atalanta (ITA) v Paris Saint-Germain (FRA)
Ties to be played August 12-15 in Lisbon
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