Articles
Oil fluctuates amid tight market, demand concerns and possible return of Iranian crude
A three-day rally in crude prices last week lost momentum amid weaker Chinese economic data
Oil rally loses steam on fears of global economic slowdown
US crude stocks for the week to August 12 fell by 7.1 million barrels from the previous week
Lebanon expected to record second-highest Inflation rate globally in 2022
Elevated global commodities and oil prices, a higher exchange rate, and an increase in custom tariffs and the cost of bread will further fuel inflation
Saudi Arabia's PIF boosts US stock holdings with $7.6bn of new investments
The Public Investment Fund snapped up positions in Alphabet, Amazon, Microsoft, Zoom, JP Morgan Chase and BlackRock, among others
Saudi Arabia's sovereign wealth fund and Cain invest $900m in Aman Group
The transaction values the Swiss hospitality group at $3bn
Aramco posts record second-quarter profit on higher oil prices
Company recorded a net income of $48.4bn and declared a $18.8bn dividend to be paid in the third quarter
Oil prices settle higher as Opec+ set to meet amid tight market
Latest data shows crude oil stocks for the week ending July 22, excluding the Strategic Petroleum Reserve, decreased by 4.5 million barrels from the previous week
Alpha Dhabi's Q2 profit surges as revenue more than doubles
The company expanded in the three-month period to the end of June and made strategic investments that boosted its total assets to about $28bn
Aldar Properties' second-quarter profit climbs 55% on stronger demand
Pent-up demand and improved investor sentiment helped to drive property sales
Aldar agrees to buy four properties from Mubadala in $1.17bn deal
The transaction is for a total net leasable area of 180,000 square metres and marks one of the largest real estate transactions to be completed in the UAE
Borouge second-quarter net profit surges 35% on higher revenue
Revenue in the second quarter increased an annual 18 per cent to $1.87bn
Gulf central banks raise interest rates after Fed doubles down to tame inflation
The US Federal Reserve raised its key policy rate by 75 basis points to fight inflation, which is at a four-decade high
IMF cuts global growth on 'gloomy' outlook of Ukraine war and inflation
With increasing prices squeezing living standards worldwide, taming inflation should be the first priority for policymakers, fund says
Lebanon's inflation hits 210% in June as government formation stalls
Water, electricity, gas and other fuels soared 594% while the health segment surged 492%
UAE economy set for strongest expansion in 11 years
Central Bank projects 5.4 per cent GDP growth this year and 4.2% in 2023
