DUBAI: The US should participate, rather than being a “loud opponent,” in carbon pricing, urged the director of the International Monetary Fund.Addressing the Business and Philanthropy Climate Forum alongside the UN Climate Conference, Kristalina Georgieva affirmed that the US must not hinder the world from “moving in the right direction.” Instead, the country should explore … Read more
TOKYO: Japan’s imports of Saudi crude oil for October reached 30.37 million barrels (42.4 percent of its total), according to Japanese government data. The amount was slightly up on September figures of around 29 million barrels (37.1 percent). During October, the Japanese Ministry of Economy, Trade, and Industry’s Agency for Natural Resources and Energy said … Read more
SINGAPORE: Oil was little changed on Thursday as investors remained cautious ahead of expected production cuts by the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, and as weaker-than-expected Chinese factory data underscored slowing growth in the world’s second largest economy, according to Reuters. Brent crude futures fell 15 cents, or 0.2 percent, … Read more
TOKYO/SINGAPORE: Oil edged higher on Wednesday as investors turned cautious ahead of a crucial meeting of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, to decide output policy in the coming months, while a supply disruption caused by a storm in the Black Sea provided a lift for prices, according to Reuters. … Read more
SINGAPORE: Oil prices rose slightly on Tuesday due to a weak dollar, and expectations that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, would deepen and extend output cuts due to fears demand would remain subdued, according to Reuters. Brent crude futures were up 11 cents, or 0.1 percent, at $80.09 a … Read more
RIYADH: Saudi Entertainment Ventures, also referred to as SEVEN, is set to construct a new destination in Asir with an investment of SR1.3 billion ($347.8 million). SEVEN, a wholly-owned subsidiary of the Saudi Public Investment Fund, stated that the project is strategically positioned between Abha and Khamis Mushait, near Abha International Airport, and covers an … Read more
RIYADH: New businesses and environmentally conscious companies stand to benefit from a new carbon credits mechanism set to be launched in Dubai during the upcoming UN Climate Change Conference. The Dubai Financial Market announced its plans to launch a trial platform during the COP28 at the end of this month, aiming to contribute to the development of … Read more
RIYADH: New businesses and environmentally conscious companies stand to benefit from a new carbon credits mechanism set to be launched in Dubai during the upcoming UN Climate Change Conference. The Dubai Financial Market announced its plans to launch a trial platform during the COP28 at the end of this month, aiming to contribute to the development of … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Wednesday, losing 29.12 points, or 0.26 percent, to close at 11,099.98. The total trading turnover of the benchmark index was SR4.22 billion ($1.12 billion) as 75 of the listed stocks advanced, while 146 retreated. Similarly, the Kingdom’s parallel market Nomu also dropped 6.20 points, or 0.03 … Read more
LONDON: Oil prices barely moved during Asian trade on Wednesday as the market awaited potentially mixed news on the supply front, with the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, expected to discuss output cuts and US crude stocks forecast to show a big build-up, according to Reuters. Brent crude futures fell 3 … Read more
