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Oil producers to have extra meeting if output cuts ‘not enough’: UAE

KUWAIT: If an agreed cut in oil output by 1.2 million barrels per day is not enough to balance the market, OPEC and allied producers will hold an extraordinary meeting and do what is necessary, the United Arab Emirates energy minister said on Sunday. Extending the output agreement signed in early December will not be a problem and producers will do as the market demands, Suhail al-Mazrouei told a news conference at a gathering of the Organization of Arab Petroleum Exporting Countries in Kuwait. “What if the 1.2 million…

Private schools’ association accepts SC’s verdict regarding fees cut

ISLAMABAD: All Pakistan Private Schools’ Association on Thursday accepted the Supreme Court verdict in a case pertaining to exorbitant fees being charged by private schools, ARY News reported. The top court has ordered a 20 per cent decrease in fees charged by upscale private schools, and dictated all those schools who have received the winter vacations’ fees from students, to return 50 percent to parents or adjust the amount in the fees of upcoming months. “The order will be applicable to private schools across the…

Italy may cut deficit target in bid to appease European Commission

ROME: Italy’s governing coalition may reduce next year’s budget deficit target to as low as 2 percent of gross domestic product to avoid disciplinary action from Brussels, two government sources said on Monday. The move set off a rally in financial markets but it was unclear if the downward revision would be enough to satisfy the European Commission. The goal in the draft budget is now 2.4 percent of GDP, much higher than the 0.8 percent set by the previous government, prompting European partners to first threaten a…