Barclays bank to stop financing new oil, gas projects
London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas...Business Climate Change
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...Business Economy
Filing says Elon Musk to borrow less for Twitter bid
Elon Musk notified US regulators on Wednesday that he will rely less on loans in his bid to buy Twitter,...The Tesla chief said in a filing with the US Securities and Exchange Commission that he would seek $13 billion in loans for the Twitter buy
Analysts were concerned about Musk using billions of dollars worth of his Tesla shares to back loans
Tokyo shares climb up after Wall Street gains
Tokyo stocks opened higher on Thursday following gains on Wall Street, despite ongoing worries over inflationary pressure due to the...The benchmark Nikkei 225 index added 0.14 percent or 36.94 points to 26,714.74, while the broader Topix index rose 0.45 percent, or 8.43 points, to 1,885.01
Market players are now eyeing the release of US GDP data later in the day, said Stephen Innes of SPI Asset Management
Spiralling inflation spurs GCC gold demand
Gold consumption in the GCC region reached 47 tons in the first quarter of 2022, up 18 percent from the...Gold consumption in the GCC region reached 47 tons in Q1 2022, up 18 percent from the prior year
UAE consumption reached 12.50 tons in Q1 2022, an increase of 50 percent from the previous year
Partnerships, collaborations signed during Global Aerospace Summit 2022
Several partnerships and collaboration agreements were signed between leading aerospace, aviation, space and defense organizations during the sixth edition of...LeoLabs announced a multi-million dollar award to provide data and services for the Japan Air Self Defense Force (JASDF).
Sanad and Triumph Group sign MoU outlining their plans to collaborate on the provision of next-generation engine MRO capabilities in UAE.
Russia to pay overseas debt in rubles as US exemption ends
Russia said Wednesday that it will start paying its foreign debt in rubles after the United States ended an exemption...Punishing Western sanctions on Russia have largely severed the country from the international financial system.
Russian Finance Minister Anton Siluanov said the current situation was "artificially created by an unfriendly country".
Sanctions hit Russia, Iran to boost cooperation in energy and trade
Tehran and Moscow are seeking to expand cooperation in energy and trade, officials said Wednesday, as Russian Deputy Prime Minister...Both countries have huge oil and gas reserves but are constrained by sanctions imposed by the West.
The two countries vowed to increase the use of their national currencies in their trade exchange.
Saudi non-oil exports hit $21 billion in the first quarter of 2022
Saudi Arabia’s non-oil exports in the first quarter of 2022 reached 77.8 billion riyals ($21 billion), growing nearly 29 percent...Overall merchandise exports increased by 72.7 percent in Q1 2022 compared to Q1 2021, reaching 359.3 billion riyals, up from SAR 208.0 billion in Q1 2021.
This increase originated mainly from oil exports, which rose by SAR 133.6 billion or 90.3 percent in the same period, the General Authority for Statistics said.
Seeking new start, Russian professionals set up shop in Dubai
Entrepreneurs, lawyers and art dealers are among those flocking to the financial hub in the oil-rich United Arab Emirates, which...They are attracted by the ease of setting up a business, and the prospect of better opportunities as sanctions bite at home -- and a more welcoming environment.
The city, with its luxury hotels and tourist facilities, is well known to Russians as a high-end destination for the wealthy, particularly those interested in real estate.
After banning wheat shipments, India caps sugar exports
India said it has capped sugar exports to safeguard its own supplies and ease inflation, days after a ban on...The world's largest sugar producer and number two exporter after Brazil said on Tuesday that shipments would be limited to 10 million tonnes for the current marketing year
Although India is a marginal player on the global market, the move sparked a further surge in already-soaring global food prices
Oil, gas firms use Ukraine war to resist climate efforts: report
The London-based think tank InfluenceMap analyzed advertisements and declarations by the companies in the weeks before and after Russia's invasion...The London-based think tank InfluenceMap analyzed advertisements and declarations by the companies in the weeks before and after Russia's invasion of Ukraine
Oil and gas sector has quickly mobilized around the war in Ukraine and high gas prices to promote the need for more 'American-made energy'
