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Naira Breaks Free From Oil Dependence As Bold Reforms Restore Investor Confidence
09 Jul 2025 12:31 GMT
In a remarkable turn that signals a new era for Nigeria’s economic direction, the Naira is steadily decoupling from its historical dependency on global oil prices — a development that reflects the strength of recent structural reforms and the rising …
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Oil dependence limits Iran’s partnerships with Russia, China: experts
03 Jul 2025 14:28 GMT
The Israel-Iran conflict revealed the limits of Tehran’s global partnerships in part because Moscow and Beijing have other interests in the Middle East and both can benefit from oil price changes, experts said during events held June 30 and July 1.
China …
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Israel-Iran conflict exposes Asia's oil dependence, slow pace of clean energy transition
27 Jun 2025 06:30 GMT
The war between Israel and Iran has underscored Asia's heavy reliance on oil and gas from the Middle East and its sluggish progress in transitioning to renewable energy — vulnerabilities made worse by the region's dependence on shipments passing …
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Middle East crisis: Why is India’s oil dependence a risk again? And what Vedanta’s Agarwal thinks should change
25 Jun 2025 06:20 GMT
Amid escalating geopolitical tensions in the Middle East and rising global oil prices, Vedanta Group Chairman Anil Agarwal has called on India to accelerate domestic oil and gas production to secure its long-term energy needs.
In a post on X (formerly, …
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Exploring Qatar’s shift from oil dependence to tourism
24 Jun 2025 14:53 GMT
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Oman becomes first Gulf state to launch income tax in bid to reduce oil dependence
23 Jun 2025 11:25 GMT
Oman will impose income tax starting 2028, becoming the first Gulf state to do so. The new 5% tax applies only to annual incomes of 42,000 rials ($109,000) and above, affecting roughly the top 1% of earners, Bloomberg quoted the state-run Omani News Agency …
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Oil dependence behind Nigeria’s economic woes – Oyelaran-Oyeyinka
15 May 2025 15:10 GMT
From Okwe Obi, Abuja
Professor Banji Oyelaran-Oyeyinka, Special Advisor to African Development Bank (AfDB) President Akinwumi Adesina, has attributed Nigeria’s economic distress and lack of industrialisation to its heavy dependence on crude oil.
Delivering …
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CITN warns against oil dependence, urges tax-driven development
30 Apr 2025 07:11 GMT
The President and Chairman of the Council of the Chartered Institute of Taxation of Nigeria (CITN), Mr Samuel Agbeluyi, has warned that Nigeria’s continued dependence on oil revenue is economically risky and unsustainable.
He urged the federal government …
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Czechs hail end of Russian oil dependence with first increased deliveries from west
17 Apr 2025 13:07 GMT
FILE PHOTO: Pipes are seen at the Mero central oil tank farm in the village of Nelahozeves, near Kralupy nad Vltavou, Czech Republic, January 14, 2025. REUTERS/David W Cerny
PRAGUE - The Czech Republic has become fully independent of Russian oil …
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Czech Republic Ends Russian Oil Dependence
17 Apr 2025 12:52 GMT
The Czech Republic has become fully independent of Russian oil for the first time ever following the launch of an expanded pipeline from western Europe, Prime Minister Petr Fiala said Thursday.
The EU and NATO member of 10.9 million people signed a deal …