Economy
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With oil prices slumping, OPEC+ producers weigh more production cuts
The major oil-producing countries led by Saudi Arabia and Russia are wrestling with whether to make another cut in supply…
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Saudi Arabia to cut oil output in July, OPEC extends deal into 2024
Saudi Arabia will make deep production cuts in July as part of a broader output-limiting OPEC+ deal as the group…
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US auto safety agency steps up probe into air bag ruptures
US auto safety regulators have stepped up a long-running investigation into potentially defective air bag inflators that can cause metal…
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Saudi PIF agrees to buy 30 pct of Tamimi supermarket’s share capital
Saudi Arabia’s Public Investment Fund (PIF) has agreed to purchase 30 percent of the shares of leading Saudi supermarket chain…
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UAE’s booming trade opens doors to 2.2 bln consumers: Minister
UAE exporters can reach more than 2.2 billion consumers today thanks to new trade agreements with some of the world’s…
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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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