Saudi Arabia has been one of the most proactive regional economies in this regard. Development requires its efficient pooling and allocation. In recent years, new types of funding vehicles have gained ground, whether REITs or funds set up with public sector participation. As the Gulf economies pursue the goals articulated in Saudi Vision 2030 and […]
Brent crude rose by 55 cents, or 0.7 percent, to $79.15 a barrel by 1410 GMT, after hitting a session high of $79.85. Investors are awaiting an OPEC+ meeting on Jan. OPEC and the entire energy industry should thank Saudi Arabia for helping oil prices recover from negative territory last year, and the market would […]
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 the Kingdom to manage, Robert Yawger, executive director of Energy Futures at Mizuho Securities said in an interview on Bloomberg Television in July. Bitcoin more than doubled […]
The sector’s exports saw a 3.2 percent year-on-year hike during Nov. 2021, recording $65 million, up from $63 million, the agency reported citing a report by the Export Council of Medical Industries. The organization’s monthly growth indicator declined by 11 points to 21 points in the three-month period ending in December. The gauge is based […]
RIYADH: The annual inflation rate in the US hit 6 percent in October, its highest level since the 1990s. The London-based company does not share the bleak opinion that this high level will correspond to negative returns such as was the case in the 1970s. Secondly, since inflation is set to be around 3 percent, […]
Most observers do not realize that carbon-based fuels account for 85 percent of global needs, and these same observers are unlikely and/or unwilling to revert to a standard of living that likens the Stone Age. …Read the full story
When compared to other indexes in the Gulf Cooperation Council region, Tadawul led the gains earlier today. At closing bell, UAE’s main index DFM was up by 0.46 percent, Abu Dhabi’s index ADI lost 0.4 percent, and the Qatari index QSI went up 0.31 percent. To improve the ministry’s services, Al-Hogail said they have invested in […]
The fall was influenced by the emergence of the COVID-19 variant omicron and the US decision to bring 50 million barrels from its strategic petroleum reserve to the market. For example, Japan canceled key figure skating events leading up to the Winter Olympics; flights to and from African countries and some other regions are being […]
The factors that are responsible for keeping the prices above the $70-mark include low levels of inventories, OPEC+ falling spare capacity, seasonal strong demand and Iran nuclear. Since the peak reached in August 2020 following the outbreak of COVID-19, Asian inventories, crude and products, have been declining at a steady pace. Oil prices followed the […]
30, the front-month Dutch TTF Gas Futures, a European price benchmark, with delivery during January 2022, closed down 1 percent from the previous day at €92.5 after it jumped by more than 5 percent in early morning trading, according to data on Intercontinental Exchange, Inc. MOSCOW: The longer the prices for natural gas remain at […]
MADRID: The coronavirus pandemic will cost the global tourism sector $2.0 trillion in lost revenue in 2021, the UN’s tourism body said Monday, calling the sector’s recovery “fragile” and “slow.” The forecast from the Madrid-based World Tourism Organization comes as Europe is grappling with a surge in infections and as a new heavily mutated Covid-19 […]
“It’s obvious that traders are concerned about the implications of the newly mutated virus which brings back the lock-down memories from last year. If Saudi decides to impose more restrictive measures the economy will be impacted significantly and the growth prospects next year will vanish”, Mohammed Al-Suwayed, chief executive officer of Razeen Capital, said. “The […]
“We believe this was the formula that made Wafeer what it is right now, the broad and diverse experience that each founder brings to the table and of course our value add investors,” Al-Bassam told Arab News. …Read the full story
“As travel and tourism represents over 10 percent of global GDP this is good news for jobs and economies. …Read the full story
It will also establish a creative research partnership to benefit the Kingdom’s water sector through technology transfer and conducting research projects and strategic studies on issues that positively affect water resources, planning and governance, the relationship between water, agriculture, energy, water security, and the overall performance of the water sector. The agreement contributes to achieving […]
Taiba Investments Co. signed a hotel management agreement with London-listed InterContinental Hotels Group to operate the four-star Crowne Plaza Taiba Hotel & Suites in Riyadh, which is owned by Al Aqeeq Real Estate Development Co., a fully-owned subsidiary of Taiba. RIYADH: French company TotalEnergies and US-based ConocoPhillips will announce their acquisition of the US Hess Co. […]
Traders remained attentive to a possible release of crude oil from the US SPR, and surging COVID-19 cases in Europe, which could curb oil demand growth. Meanwhile, the International Energy Agency forecasts a 1.5 million barrels per day increase in global oil supply in November and December, while investors shrugged off an Energy Information Administration […]
Rivian has become the third-largest car company in terms of market capitalization, according to Bloomberg. Looking at their growth year-to-date, Tesla’s share price went up by 49 percent to close at $1,089 on Nov. Observing debt-equity ratios, Tesla and Lucid had much lower ratios when compared to their traditional counterparts, as they stood at 0.3 […]
“As long as I am holding this job, I will continue my fight against interest rates and inflation until the end. Following the decision, the value of Turkey’s lira has fallen by 4 percent, hitting 11 against the US dollar for the first time in Turkish history. “Turkey is a net debtor, and is therefore […]
“As long as I am holding this job, I will continue my fight against interest rates and inflation until the end. Following the decision, the value of Turkey’s lira has fallen by 4 percent, hitting 11 against the US dollar for the first time in Turkish history. “Turkey is a net debtor, and is therefore […]