OPEC to try to stem oil price plunge amid coronavirus slowdown

14 Sept 12:02 Key points summarised by AI

OPEC+ convenes to counter a 30% oil price drop since January, driven by the coronavirus outbreak severely reducing global demand.
Producers, led by Saudi Arabia, seek significant production cuts, potentially up to a million barrels per day, to stabilize prices after prior cuts proved insufficient against the epidemic's impact.
Russia's commitment to new cuts remains uncertain, as President Putin stated current oil prices are acceptable for their budget, contrasting with Saudi Arabia's push for higher prices.
The International Energy Agency's revised, lower oil demand forecast for 2020, coupled with rising non-OPEC supply, intensifies pressure on OPEC to act decisively while balancing market share concerns.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.