New Commerzbank CEO prepares road ahead with $1.8 billion write-off

2/2 © Reuters. Commerzbank AG annual results news conference in Frankfurt 2/2 FRANKFURT (Reuters) – Just a week into the job, Commerzbank (DE:)’s new chief executive on Friday made a 1.5 billion euro ($ 1.84 billion)goodwill write-off at the German bank and raised risk provisions relating to the coronavirus pandemic. Shares in Germany’s second largest […]

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Iran prepares to raise oil exports if sanctions eased: state media

© Reuters. FILE PHOTO: A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf (Reuters) – Iran has instructed its oil ministry to prepare installations for production and sale of at full capacity within three months, state media said on Sunday, ahead of a possible easing of U.S. […]

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U.S. Gulf Coast prepares for second hurricane in a month

© Reuters. FILE PHOTO: Buildings damaged by Hurricane Laura are seen in an aerial photograph in Lake Charles HOUSTON (Reuters) – Tropical Storm Sally strengthened off the west coast of Florida on Sunday and was poised to become a hurricane, bringing the threat of dangerous storm surges and high winds to the U.S. Gulf Coast, […]

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Algeria prepares new plan to revive economy, reduce dependence on oil

© Reuters. ALGIERS (Reuters) – OPEC member Algeria, facing financial pressure after a fall in energy revenue, will launch a new economic plan to reduce reliance on oil and gas and give the private sector a greater role, the government said on Tuesday. President Abdelmadjid Tebboune, who was elected in December, has repeatedly vowed to […]

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