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BAHRAIN / WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, announced on Wednesday that its portfolio company, Calligo Holdings Limited, an end-to-end managed data services provider, has acquired Network Integrity Services (NIS). Network Integrity Services is a UK-based IT managed services and technology-led solutions provider with locations in Manchester, Birmingham, Leicester and Hemel …

Bloomberg Oil crept higher, with a demand increase from cold weather the latest addition to a rally that has pushed crude to a 10-month high. Demand could get a boost of at least 1 million barrels a day, Goldman Sachs Group Inc said, as frigid temperatures in Asia and Europe sent other energy markets soaring. In Japan, power generators have …

Bloomberg Oil in New York extended its recent rally to a new 10-month high as the dollar edged lower, increasing the appeal of commodities priced in the currency. Earlier, futures rose above $53 a barrel to the highest since February 2020. Prices have been climbing since the beginning of the year after promises of unilateral crude output cuts from Saudi …

Bloomberg Oil edged lower as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months. Futures in New York lost 0.9% as the dollar’s gains reduced the appeal of raw materials such as oil that are priced in the currency. Both West Texas Intermediate and Brent crude are trading …

Bloomberg Oil posted the biggest weekly gain since late September as Saudi Arabia’s plan to slice output spurred a surge in physical crude buying. Futures in New York advanced $3.72 this week and Brent oil topped $55 a barrel for the first time since February. Saudi Arabia’s pledge earlier this week to cut production by 1 million barrels a day …

JAKARTA / WAM/Reuters A Sriwijaya Air plane with 62 people on board lost contact after taking off from Indonesia’s capital Jakarta on a domestic flight on Saturday and rescuers said suspected debris had been found in the sea off the city, Reuters reported. The Boeing 737-500, en route to Pontianak in West Kalimantan, disappeared from radar screens after taking off …

Bloomberg India’s petroleum consumption fell for the first time in more than two decades in 2020 as the coronavirus pandemic shuttered businesses and factories, hurting demand from one of the world’s largest users of the fuel. Total petroleum demand declined 10.8% last year from 2019, and was at a five-year low of 193.4 million tons, according to Bloomberg calculations of …

BAHRAIN / WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, announced on Wednesday that its portfolio company, Impero, a provider of online student safety and classroom and network management software, has acquired Netop, an international software solutions provider to the education sector and corporates, from Consolidated Holdings A/S. Terms of the transaction were …

JEDDAH / WAM The Organisation of Islamic Cooperation (OIC) has welcomed the signing of Al Ula Declaration by the leaders of the GCC member states at the 41st GCC Summit which took place in Al Ula Governorate, Saudi Arabia. The OIC’s Secretary-General Dr Yousef bin Ahmad Al Othaimeen praised the efforts of the GCC’s leaders.

Bloomberg Oil breached $50 a barrel as Saudi Arabia pledged a voluntary oil-production cut next month, while most of the Opec+ alliance agreed to hold its production steady. Futures in New York rose as much as 5.1%, topping $50 a barrel for the first time since February before easing off the high. Saudi Arabia didn’t provide a volume on the …