DOHA: Qtel, recently rebranded as Ooredoo, yesterday confirmed that the required legal and regulatory approvals have been obtained and the company’s legal name has changed to Ooredoo QSC. The change was previously approved by shareholders at the company’s extraordinary general assembly meeting held on 31 March 2013.
Oil price dips after surprise rise in
US stockpile
LONDON: Oil prices slumped yesterday after data showed an unexpected rise in US crude stocks, which combined with earlier disappointing economic data to stoke concerns about the outlook for demand in the world’s top consumer.
Brent crude for August delivery was down 76 cents at $100.50 a barrel by 1355 GMT. US crude was down $1.32 to $94.00 a barrel.
Weekly crude stocks rose 18,000 barrels to 394.14 million barrels, according to the Energy Information Administration (EIA), while analysts surveyed by Reuters had forecast a draw of 1.7 million barrels. Supplies increased in Cushing, Oklahoma, the delivery point for the US benchmark crude, further weighing on prices.
The Peninsula./Reuters
