Last Monday, the People’s Bank of China for the first time in several years lowered the interest rate of its medium-term loans by 10 basis points and hinted at the possibility of further easing in its monetary policy. On the geopolitical side, despite the calming of tensions in Kazakhstan, and its oil production being restored, […]
Tensions between Russia and Ukraine, and the impact on the Nord Stream 2 regulatory process are mitigating downside risk and will continue to be a bullish factor through most of this year, as many believe the pipeline is Europe’s only shot at a boost in export volumes from Russia. …Read the full story
“This is the lowest unemployment rate since August 2008, just before the start of the Global Financial Crisis and Lehman Brothers collapse, when it was 4 per cent. This is also close to the lowest unemployment rate in the monthly series — February 2008 — and for a rate below 4 we need to look […]
The Dubai-based aviation firm, which is owned by sovereign wealth fund Investment Corporation of Dubai, had a total fleet of 153 Boeing aircrafts, with 30 units of Boeing 373 MAX 8 model, as of Dec. …Read the full story
For example, Amazon has committed $1 billion to its “The Lord of the Rings” even before an episode has aired, while Netflix was forecast to spend more on original programming than ever before. She was accused of engaging in terror propaganda and being a member of a banned left-wing group — the Marxist-Leninist Communist Party. […]
RIYADH: The Kingdom’s stock market is to see two new company listings on Tuesday, Jan. …Read the full story
“The strategic partnership between the UAE and Korea provides many opportunities to enhance cooperation in various fields, including economy, trade, food security, health, culture, space, energy and tourism,” he said, adding the Emirates is South Korea’s top trade partner in the region. “We also appreciate the active participation of the South Korea pavilion at Expo […]
China’s annual crude oil imports slid to 10.3 million barrels per day in 2021, dropping for the first time since 2001, as Beijing clamped down on the refining sector to curb excess domestic fuel production while refiners drew down massive inventories. India’s daily new COVID-19 cases have averaged 173,000 over the past week, up from […]
“Reid’s appointment as Cougar Drilling Solution CEO is to build on the company’s strong manufacturing and technical capabilities and expand its directional drilling offerings to our global customers,” TAQA CEO Khalid Nouh said in a statement. A central bank digital currency managed by the Bank of England and used by consumers could harm financial stability, […]
LONDON: Social media giant Facebook , now known as Meta Platforms, faces a 2.3 billion pound plus , one of the biggest challenges by the US government against a tech company in decades as Washington attempts to tackle Big Tech’s extensive market power. The plans vary based on variables like the number of screens users […]
These three commodities, all of which are already being mined in the Kingdom, will no doubt be much discussed at Future Minerals Forum, to be held in Riyadh between Jan. The Saudi Arabian Mining Co., or Ma’aden, said that the $6.4 billion expansion of its phosphate fertilizer portfolio will add 3 million tons of capacity, […]
US electric vehicle maker Tesla Inc. sold 70,847 China-made vehicles in December, the highest monthly rate since it started manufacturing in Shanghai in 2019, data from the China Passenger Car Association showed on Tuesday. It also brought Tesla’s total sales of China-made cars for last year to 473,078, according to Reuters’ calculations. series EVs in […]
RIYADH: The Saudi stock exchange’s main TASI index extended its gains in the prior session amid a resilient oil market, even as the Saudi Health Ministry confirmed 3,045 new COVID-19 cases on Wednesday, up from only 34 on Dec. As of 8:44 a.m. QIC also plans to appeal to locals or expats looking for second […]
LONDON: Oil prices extended gains on Wednesday, rising toward $81 a barrel after OPEC+ producers stuck to an agreed output target rise for February and investors assessed the impact of a spike in COVID-19 cases caused by the omicron variant. …Read the full story
Hedge funds and other money managers purchased the equivalent of 70 million barrels in the six most important petroleum futures and options contracts in the last two weeks of December. Last week’s buying was the fastest since August, and among the most rapid rates for more than a year. Portfolio managers seem to expect the […]
on Monday became the first company to hit a $3 trillion stock market value, before ending the day a hair below that milestone, as investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality. “The market is rewarding companies that have strong fundamentals […]
As many as 1,024 coronavirus cases were newly confirmed together with one coronavirus-caused death in the Kingdom on Sunday, Jan. The group, which recently moved its headquarters from Palo Alto, California to Austin, Texas, sold 911,208 Model 3 and Model Y vehicles as well as 24,964 vehicles of its luxury S and X models . […]
In the GCC region where the Kingdom led the downturn, the UAE’s main index DFMGI dropped 0.8 percent, followed by Oman’s MSX30 which closed 0.1 percent lower. OPEC and the entire energy industry should thank Saudi Arabia for helping oil prices recover from negative territory last year, and the market would be best left to […]
