November 23 2020, - Biz in 60

Business in 60 Seconds

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November 23 2020, - Biz in 60

Business in 60 Seconds

US reportedly seeks ban on exports to 89 Chinese firms The Trump administration is reportedly seeking a ban on exports to 89 Chinese companies. According to a draft copy seen by Reuters, the firms will be prevented from buying a range of US goods and technology due to their ties with China's military. The move could escalate tensions with Beijing as US president-elect Joe Biden prepares to take over the White House. Abu Dhabi discovers 22 billion barrels of oil reserves Abu Dhabi National Oil Company has announced the discovery of 22-billion- barrels of unconventional reserves. The latest discoveries come as the firm plans to increase its production capacity to 5-million barrels a day by 2030. Meanwhile, Abu Dhabi has pledged 122-billion- dollars in capital expenditure for its state oil company over the next five years. Cineworld secures $450M in emergency funding British movie chain operator, Cineworld, has secured 450-million- dollars in emergency funding as it looks to survive the coronavirus crisis. The group, which shut all of its 660 movie theatres in the US and the UK in October, says it now has enough liquidity to make it through to next year. Shares in Cineworld jumped around 20-percent on the announcement.
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US reportedly seeks ban on exports to 89 Chinese firms The Trump administration is reportedly seeking a ban on exports to 89 Chinese companies. According to a draft copy seen by Reuters, the firms will be prevented from buying a range of US goods and technology due to their ties with China's military. The move could escalate tensions with Beijing as US president-elect Joe Biden prepares to take over the White House. Abu Dhabi discovers 22 billion barrels of oil reserves Abu Dhabi National Oil Company has announced the discovery of 22-billion- barrels of unconventional reserves. The latest discoveries come as the firm plans to increase its production capacity to 5-million barrels a day by 2030. Meanwhile, Abu Dhabi has pledged 122-billion- dollars in capital expenditure for its state oil company over the next five years. Cineworld secures $450M in emergency funding British movie chain operator, Cineworld, has secured 450-million- dollars in emergency funding as it looks to survive the coronavirus crisis. The group, which shut all of its 660 movie theatres in the US and the UK in October, says it now has enough liquidity to make it through to next year. Shares in Cineworld jumped around 20-percent on the announcement.
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