REUTERS National Shipping Company of Saudi Arabia (Bahri) said on Sunday it signed a deal with Arab Petroleum Investments Corp. (APICORP) to launch a $1.5 billion investment fund that could buy up to 15 very large crude carriers (VLCCs). The fund will be seeded with $500 million on three occasions, subject to conditions, Bahri said in a bourse statement, ...

  REUTERS Guards protesting over pay shut the eastern Libyan oil terminal of Hariga on Sunday, delaying two shipments of crude, a port official said. A unit of Libya’s Petroleum Facilities Guard (PFG) took the action because they said they had not been paid their salaries recently, the Hariga official said. He said the protest had delayed two tankers, one ...

  Bloomberg Oil is flowing unhindered through Turkey’s pipelines and waterways, one of the world’s largest energy trading corridors, after a coup attempt against President Recep Tayyip Erdogan failed. The Turkish straits are open to shipping traffic, an official at the Istanbul-based shipping center said by phone ON Saturday. Crude oil shipments from Azerbaijan and Iraq into Turkey’s Mediterranean port ...

Jeddah / TNS Approximately 125 global companies in security services are providing solutions to the Saudi business sector in the light of the growing demand for security, safety services and protection from fires. “Saudi budgetary allocations for security across municipal, health, infrastructural, transport and construction sectors are increasing. This is why the world’s companies are targeting the Saudi market,” Mowfaq Alharithi, ...

  Amman / AFP Line’s dream is about to become a reality, the 14-year-old Jordanian girl will make history later this year when she takes part in her first ever football world cup. FIFA’s U-17 Women’s World Cup will kick off on September 30 in Jordan, the first time a Middle Eastern country hosts an international women’s football competition. Line ...

  Bloomberg High in the Arctic circle, three oil terminals on Russia’s northern coast are already exporting as much crude oil as Libya — and that flow could double in the next five years. It’s a sign the development of remote deposits in the country’s harsh and fragile north will play an increasingly important role as conventional production in the ...

  Bloomberg The UK will fall into a “short, shallow recession” around the turn of the year as Brexit hits house prices, jobs and spending, according to the EY Item Club. In a report to be published on Monday, the forecaster will say it’s slashing its 2017 growth estimate to 0.4 percent from 2.6 percent and predicting the Bank of ...

  AFP The head of Britain’s new Brexit ministry on Sunday said that EU migrants arriving between now and the country’s official departure from the bloc may not be guaranteed the right to remain. David Davis told the Mail on Sunday that he would negotiate with European leaders to secure “a generous settlement for EU migrants here now and a ...

  Bloomberg The U.K. and Australia are eager to negotiate a free-trade agreement as soon as possible, the two nations’ newly appointed premiers said following a telephone conversation. U.K. Prime Minister Theresa May, who took office 19 days after her country voted to leave the European Union, and her Australian counterpart Malcolm Turnbull said they will meet at the G-20 ...

  AFP Google CEO Sundar Pichai hit back on Sunday at accusations that the global internet giant failed to pay enough taxes in Europe, and warned of the potential fallout from Britain leaving the EU. As Google faces a raft of fiscal probes across the continent, Pichai told Germany’s Welt am Sonntag newspaper that the US company invested “very heavily” ...