Riyadh / WAM Saudi Arabia’s real gross domestic product (GDP) grew by 8.8 percent in the third quarter of 2022 compared to the same period last year driven by an increase in oil activities, according to a report released by the General Authority for Statistics (Gastat). Gastat noted that the real GDP growth in the third quarter was up 2.1 …
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Geneva / WAM Some 20 million jobs could be created by investing in policies that support nature and address climate change, disaster risk, food insecurity, and other major challenges, according to a UN report Launched by the International Labour Organization (ILO), UN Environment Programme (UNEP) and International Union for Conservation of Nature at the UN’s Biodiversity Conference (COP15) in …
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Bloomberg Tata group-owned Air India Ltd. is close to signing a deal with Boeing Co to buy up to 150 737 Max planes, marking the first major aircraft order after the carrier’s privatisation, the Economic Times reported, citing people it did not identify. Air India is likely to place a firm order for 50 737 Max jets with an …
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DHAHRAN / WAM The Saudi Arabian Oil Company (Aramco) and Shandong Energy group, are exploring collaboration on integrated refining and petrochemical opportunities in China. The companies have signed a memorandum of understanding (MoU) which includes a potential crude oil supply agreement and chemicals products offtake agreement, supporting Aramco’s role in building a thriving downstream sector in Shandong Province. The …
Read More »Geneva / WAM The global aviation sector is set to return to profitability next year for the first time since the coronavirus pandemic broke out in Europe at the beginning of 2020, the International Air Transport Association (IATA) reported in Geneva. In statement carried by Deutsche Presse-Agentur (dpa), the IATA estimated total profit at some $4.7 billion is expected …
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Bahrain / Gulf Time Investcorp, a leading global alternative investment firm, on Monday announced it has agreed to acquire Marble Point Credit Management LLC (Marble Point), a leading US-based collateralised loan obligation (CLO) manager. “The proposed acquisition of Marble Point is a significant milestone in Investcorp’s 40-year journey of growth through diversification, geographic expansion and building scale. With $50 billion …
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Bloomberg The Opec+ alliance decided to maintain production at current levels, pausing to take stock of a global oil market that’s roiled by uncertainty over Chinese demand and Russian supply. The outcome of the brief online meeting on Sunday reflects the unpredictability of supply and demand in the coming months, and the wild gyrations in prices of the past week. …
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Brussels / WAM In 2021, the EU spent $12.43 billion (€11.8 billion) on imports of non-plug-in hybrid cars (41% of total extra-EU imports of hybrid and electric cars), €11.4 billion on full electric cars (39%) and €5.9 billion on plug-in hybrid cars (20%), according to figures published by Eurostat, the statistical office of the European Union. For all three …
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Bloomberg Oil tumbled to its lowest price in almost a year as a wave of unrest in China punished risk assets and clouded the outlook for energy demand, compounding the stresses in an already volatile crude market. West Texas Intermediate sinks towards $74 a barrel following three weeks of losses, while Brent traded at around $81. Protests over harsh …
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Bloomberg Oil posted a third weekly loss as the European Union (EU) suspended talks over a Russian oil price cap amid disagreements between member states. West Texas Intermediate futures falls 2.1% to settle at $76.28 a barrel after trading in a more than $3 range. European diplomats remain locked in talks over how strict the cap should be, having previously …
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