US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...
- Riyadh, Saudi Arabia -- Saudi Arabia retained the top spot across the Middle East and North Africa region in terms of...
KUWAIT CITY, KUWAIT - Kuwait reinvited Iran on Monday to talks on their sea borders after Tehran said it was ready...Iran and Kuwait have held unsuccessful talks for many years over their disputed maritime border area, which is rich in natural gas.
Saudi Arabia is also a part of the dispute since it shares with Kuwait maritime gas and oil resources in the area.
- In April, several OPEC+ members opted to slash production voluntarily by more than one million bpd -- a surprise move...
Brent crude, the international benchmark, and US counterpart WTI jumped after Riyadh extended a voluntary oil production cut.
"It's the usual knee-jerk reaction to reports of production cuts," IG analyst Chris Beauchamp told AFP, when asked about the latest oil-price gains
New tourism framework has been enacted, refining regulations and systems to lure investors, boost competitiveness, and elevate service quality in...Masmak Fortress in Riyadh, another major attraction, was once the home of the Saudi royal family. It is now a museum that tells the story of the founding of the Kingdom.
The once-closed Kingdom has relaxed some of the country's social and religious laws, making it easier for tourists to visit.
- Investcorp buys majority stake in SEC Newgate for $100m.
SEC Newgate's other shareholders will roll over 100 percent of their equity investment as part of the transaction.
The deal values Milan- headquartered SEC Newgate at over US$250 million, an Investcorp statement said.
- PIF ranked seventh with a score of 92 (on the GSR score of 100), followed by Mubadala (88), among the...
Global SWF said it observed a very significant increase in the overall score across funds from 59 percent in 2022 to 63 percent this year.
PIF, Abu Dhabi’s Mubadala and ADQ, Qatar’s QIA, and Bahrain’s Mumtalakat have embraced the rating tool and taken the opportunity to improve practices.
- ABU DHABI, UAE - UAE Ministry of Finance (MoF) released its annual report for the year 2022 highlighting performance, initiatives,...
The Ministry of Finance harnesses all capabilities to support the UAE's competitiveness, aligning with the government visions and directions.
The ministry has been keen on becoming a model and global reference for best practices and international standards in government financial work.
The cut which first took effect for July will continue in August and "can be extended", the Saudi Press Agency...The move leaves daily production by the world's biggest oil exporter at approximately nine million barrels per day.
Alexander Novak, the Russian deputy prime minister responsible for energy policy said Russia will voluntarily reduce its oil supply in the month of Aug by half a million bpd.
The contracts were awarded to Petrofac Emirates and a consortium.This expansion project, known as the sales gas pipeline network enhancement (ESTIDAMA) program, aims to extend ADNOC Gas' existing pipeline network.
The ESTIDAMA program comprises multiple packages, with the first package awarded in 2021 for early modification works on existing pipelines, which were completed in 2023.
- From April to June, the Texas-based electric vehicle giant produced 479,700 cars -- an 85 percent increase compared to the...
The nearly half million deliveries represent an 83 percent increase over the same period last year, and a 10 percent rise from the previous quarter
In the US, Tesla has also benefited from its expanded eligibility in the government's $7,500 tax credit program for electric car buyers
The shareholders approved to distribute an 8.3% dividend.The shareholders also endorsed the buyback of two million shares, to be earmarked for the employee stock incentive program
From the date of the EGM approval, the repurchased shares will be kept no longer than seven years and then allocated to employees
