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  Sharjah / WAM Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC) operator, has been named ‘Airline of the Year’ at the 2022 Air Transport Awards that took place in Athens, Greece with the participation of industry leaders. The winners of the Air Transport Awards were voted for by the readers of Air Transport …

  Bloomberg India has received proposals worth $20.5 billion from five companies to manufacture semiconductor fabs and display fabs locally, according to a government statement. Companies including Vedanta in joint venture with Foxconn, Singapore-based IGSS Ventures pte, and ISMC have proposed $13.6 billion investments for manufacturing the chips, which are used in a wide array of products ranging from 5G …

  Bloomberg Oil headed for the first weekly loss in two months as investors weighed the crisis over Ukraine and the potential return of Iranian barrels to the market. West Texas Intermediate slipped, trading near $91 a barrel after losing as much as 3% on Friday. Oil’s recent rally has shown signs of cooling, albeit from an exceptionally high level. …

  Bloomberg Oil recovered from its biggest one-day loss this year as investors attempted to assess whether the Ukraine crisis was easing after Russia said it had pulled some troops back from the border. West Texas Intermediate rose near $93 a barrel. President Joe Biden said the US hasn’t verified the claim that Russia is pulling back some troops and …

  Dubai / WAM Amanat Holdings, one of the GCC’s healthcare and education investment company, has announced record financial results for the year ended December 31, 2021, with a total income of AED367.0 million, a significant five-fold increase on the AED70.6 million recorded last year. Strong total income growth translated through to Amanat’s bottom-line, with the company reporting a record …

  Bloomberg Oil rises for an eighth straight week as tensions between Ukraine and Russia heightened concern about tight global supplies. The global benchmark rose 1.3% this week, touching $95 a barrel before paring gains. National Security Advisor Jake Sullivan said that the US believes Russia could take offensive military action or attempt to spark a conflict inside Ukraine as …

  Bloomberg Oil prices, already up around 20% this year, could be boosted by China potentially replenishing its inventories and financial investors increasing their long positions, according to Vitol Group. The world’s biggest independent oil trader said there’s a chance China looks to build up stockpiles following the Lunar New Year holiday. “I think it’s fair to state China is …

  Bloomberg Oil has rocketed to a fresh seven-year high near $93 a barrel, and almost every indicator is pointing to the rally extending. The market’s structure is trading at its strongest level in years, indicating scarce supply. Diesel — the fuel that helps power the global economy — is also surging as a cold snap hits the US and …

  Bloomberg Oil retreated from a fresh seven-year high as Opec+ agreed to another modest hike in output and Iran said its ready to supply markets quickly if sanctions are removed. West Texas Intermediate edged lower 0.2% after hitting its highest level since 2014 earlier in the session. Global benchmark Brent traded near $89 a barrel, with prices steeply backwardated …

  Bloomberg Oil markets opened the week higher and were heading for the biggest gain in at least 30 years as robust demand outpaced fresh supply. The global crude benchmark rises 1.3%, paring earlier gains, but remains on track for a 17% gain this month. West Texas Intermediate futures traded above $87 a barrel. Traders were greeted on Monday with …