The rise of radical Islam in the Middle East and the reintroduction of border controls in Europe is disrupting supply chains and raising costs for business, according to a global trade body. Unstable commodity prices, a more assertive Russia and the cross-border presence of Isis have heightened risk. Source: FT
OPEC kingpin Saudi Arabia does not wish to impose a 1973-style oil embargo on Western consumers, the country’s energy minister reportedly said Monday, amid a deepening crisis over the killing of journalist Jamal Khashoggi. Source: CNBC
Saudi Arabia signed deals worth more than $50 billion in oil, gas, infrastructure and other sectors at an investment conference in Riyadh on Tuesday, officials there said. Source: Reuters
The European Commission is set to reject Italy’s budget on Tuesday (23 October) due to an “unprecedented” breach of EU fiscal rules, while Rome has stuck to its guns and presented the breach as a “difficult but necessary decision” taken by the government. Source: Euractiv
