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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Kremlin says OPEC+ cut output to stabilize oil markets

Representatives of OPEC member countries attend a press conference in Vienna on October 5. (AFP)
  • Kremlin spokesman Dmitry Peskov it was proof that "some countries understand the absurdity" of Washington's demand for a price cap on Russian oil.
  • The European Union has also proposed introducing a price cap on Russian oil as part of new sanctions over Ukraine.

Moscow—The Kremlin said Thursday that an OPEC+ decision to sharply cut production was designed to stabilize global oil markets, after Washington said the move was a concession to Moscow.

“The decisions that were taken were aimed at stabilising oil markets,” Kremlin spokesman Dmitry Peskov said.

He said it was proof that “some countries understand the absurdity” of Washington’s demand for a price cap on Russian oil.

The decision from the 13-nation OPEC cartel helmed by Saudi Arabia and a group of 10 exporters led by Russia angered the United States, which has been lobbying to hold down fuel prices and isolate Russia over its Ukraine aggression.

The European Union has also proposed introducing a price cap on Russian oil as part of new sanctions over Ukraine.

Moscow on Wednesday that a price cap on its oil would have a “detrimental effect” on global markets and warned it would not supply crude to countries that introduce it.