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Daily brief: Yahoo to be renamed, Kuwait expects big commitment to OPEC deal

After the closing of its deal with Verizon Communications, Yahoo said it would rename itself Altaba, and chief executive officer Marissa Mayer would step down from the board. Here are top seven business stories you need to know about.


Qatar to buy Turkish poultry firm Banvit in $470mn venture

Brazilian food processor BRF SA and Qatar’s sovereign wealth fund agreed to buy the operations of Turkish poultry producer Banvit in a joint venture, BRF said in a securities filing on Monday.


Yahoo to be named Altaba, Mayer to leave board after Verizon deal

Yahoo Inc said Monday that it would rename itself Altaba Inc and Chief Executive Officer Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc.


(Why it took 700 days to discover Yahoo accounts hacking?)


Saudi bourse to start T+2 settlement in second quarter

The Saudi Stock Exchange will introduce settlement of trades within two working days of execution during the second quarter of 2017, the bourse said on Monday as it published draft rules for short-selling and the borrowing and lending of securities.


(Saudi prince readies strategy if clerics oppose reforms-report)


Kuwait expects ‘big commitment’ to global supply cut deal

Kuwait Oil Minister Essam Al-Marzouq said on Monday that he expected a “big commitment” by OPEC and non-OPEC producers to the global oil supply cut deal reached late last year.


Saudi-Iran crisis, economic woes strain Oman’s neutrality

Caught between two vast neighbours locked in a regional struggle, Oman has long been to the Middle East what neutral Switzerland is to global diplomacy. But now its policy of being “friends to all and enemy to none” is under heavy strain.


(Oman 2017 state budget projects smaller deficit, continued austerity)


Europe misses out on global LNG surge as Russian gas pumps at record rate

Russia looks set to grab more market share in Europe’s natural gas sector in the first half of this year after gaining ground in 2016 despite EU efforts to diversify away from Moscow’s energy exports and a global glut of liquefied natural gas.


Iraq says December oil exports from Basra at record 3.51mn bpd

Oil exports from Iraq’s southern Basra ports reached a record high of 3.51 million barrels per day (bpd) in December, the oil ministry said on Monday.


(With Reuters)