Economy
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Sonatrach and Saudi Aramco cut selling prices for LPG in June by 17-20 pct
Algeria’s Sonatrach and Saudi Arabia’s state oil producer Aramco dropped June official selling prices (OSPs) for liquefied petroleum gas (LPG)…
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Russia’s rupee trap is adding to $147 bln hoard stuck abroad since Ukraine invasion
A lopsided trade relationship with India is forcing Russia to accumulate up to $1 billion each month in rupee assets…
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Saudi PIF-backed company to hold world’s largest voluntary carbon credit auction
The world’s largest sale of voluntary carbon credits, backed by Saudi Arabia’s Public Investment Fund (PIF), will be held in…
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UAE rolls out 9 pct business tax to boost non-oil revenue
The UAE began rolling out a 9 percent business tax on Thursday, with relief for small firms and likely exemptions…
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Abu Dhabi’s ADNOC Logistics & Services trades 44.8 percent over IPO price in debut
Shares in Abu Dhabi’s ADNOC Logistics & Services climbed 44.8 percent above their listing price on its market debut on…
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US holiday air passenger travel tops 2019 pre COVID-19 levels
US holiday air passenger travel topped 2019 pre-COVID levels over the Memorial Day weekend, which typically marks the start of…
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Creator of world’s largest floating waterpark in Jeddah plans Saudi expansion
The company behind the world’s largest floating waterpark – Pure Beach in Jeddah – plans to expand in the ‘El…
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QatarEnergy to sign long-term LNG supply deal with Bangladesh
QatarEnergy will sign a long-term liquefied natural gas (LNG) supply deal with Bangladesh’s state-owned gas company Petrobangla on Thursday, the second Asian…
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Toyota, Daimler Truck merge truck manufacturing subsidiaries to boost margins
Toyota Motor Corp. and Daimler Truck have agreed to merge their truck manufacturing subsidiaries, Hino Motors Ltd. and Mitsubishi Fuso…
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Saudi flour milling company’s IPO pulls in $18 bln of orders
Saudi Arabia’s First Milling Co. set the price for its initial public offering at the top of the marketed range…
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