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Saudi Arabia's US$53bil non-oil stimulus may last beyond 2021


DUBAI: Saudi Arabia’s 200 billion-riyal ($53 billion) lifeline to its non-oil economy may be in place for longer than planned as the kingdom supports industries struggling to cope with reforms that pushed up costs and dampened demand.

Saudi Arabia plans to pour 86 billion riyals ($23 billion) into beautifying its capital, Riyadh, with projects expected to create tens of thousands of jobs.

Indonesia posts biggest trade deficit ever in April

JAKARTA: Indonesia posted its widest monthly trade deficit in history in April as exports slumped, while the pace of fall in imports was slower than expected, data from the statistics bureau showed on Wednesday.

Indonesia posted its widest monthly trade deficit in history in April as exports slumped, while the pace of fall in imports was slower than expected.

Opec sees more 2019 demand for its oil as it keeps cutting output

LONDON: OPEC said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including U.S. shale producers slows, pointing to a tighter market if the exporter group refrains from raising output.

But the Organization of the Petroleum Exporting Countries, in a monthly report, said its output fell in April. Top exporter Saudi Arabia cut output despite oil prices hitting a 2019 high above $75 a barrel and U.S. President Donald Trump urging action to lower prices.