Saudi Arabia, Russia and other key producers agreed to adjust upward the monthly overall production by 0.432 mb/d for the month of June. Prices had soared on Wednesday, with Brent North Sea crude closing above $110 a barrel.

Asian and European markets fell in holiday-thinned trade Monday following another tech-led rout on Wall Street, with focus on the Federal Reserve's expected interest rate hike this week. All eyes are on the US central bank's policy meeting this week, which is expected to see it hike borrowing costs by...

India seized $725 million from the local bank accounts of Xiaomi after a probe found the Chinese smartphone giant unlawfully sent money abroad in the guise of royalty payments, authorities said Saturday. The firm's India office was raided in December in a separate investigation over alleged income tax evasion.

The Purchasing Managers' Index (PMI), a key gauge of manufacturing activity, came in at 47.4 in April.

China will slash coal import tariffs to ensure energy security, the finance ministry said Thursday, the latest move to cast doubt on the country's environmental promises. The Chinese leadership has pledged the country will curb coal consumption after 2025.

Higher-than-expected credit losses and inflation are to blame.

Under its zero-Covid policy, China has used strict lockdowns, mass testing and severe travel restrictions to stamp out infections. But authorities are increasingly struggling with the impact of these protocols on the economy and business morale, especially when outbreaks appear in the country's most important cities.

Iran called on Monday for a new meeting "as soon as possible" in the talks that have been held in Vienna aimed at restoring its frayed 2015 nuclear deal with major powers. Tehran has been engaged in negotiations with Britain, China, France, Germany and Russia directly and the United States...

Stock markets sank Monday on growing concerns that lockdowns in China aimed at fighting a worsening Covid outbreak could threaten the country's economy and global supply chains. The losses extended a sell-off last week fueled by comments from Federal Reserve indicating officials will hike interest rates by half a point...

The 2022 Asian Games in China is facing the possibility of being postponed, an official told AFP on Thursday, after a rumor that it would be moved to next year. The Olympic-sized event is scheduled to be held in September in Hangzhou near Shanghai, which is grappling with a major...

More than a dozen Chinese coal power projects overseas were cancelled after a ban last year on funding such plants, but loopholes could allow 18 others to still go ahead, according to a study published Friday.

Oil began inching upward on Thursday after a day of losses over demand concerns linked to the Covid-19 lockdown in China. Ongoing restrictions in the country, including in the economic hub of Shanghai where tens of millions are confined to their homes, have hit transport networks but traders are balancing...

Tesla shares rose 5% to $1,026.99 in after-hours trading.

The company's first quarter sales jumped nearly a fifth.

The world's second-biggest economy was already losing steam in the latter half of last year with a property slump and regulatory crackdowns.

The Paris contemporary art scene has partly got its mojo back thanks to a slew of new museums, including the Louis Vuitton Foundation and Bourse de Commerce.

Russian oil supply, meanwhile, is expected to continue to fall in April by 1.5 million barrels per day amid its invasion of Ukraine, according to the IEA, which advises developed countries on their energy policies.

In a monthly report, the OPEC said world demand would rise by 3.67 million barrels per day (bpd) in 2022, down 480,000 bpd from its previous forecast

Asian stocks posted losses on Monday as unease lingered over tightening monetary policy by the Fed and rising prices in China.

The company said the fault could increase the risk of vehicle collision.

Beijing has refused to budge from its strict zero-Covid strategy, and that has forced many companies to halt production and slow new projects, while those still operating are struggling with a shortage of truck drivers on top of onerous permit and Covid testing requirements.

The European Central Bank has voiced its concern that cryptos can be used to evade Russian sanctions. But, the co-founder and CEO of Binance, the world’s largest crypto exchange by trading volume, said cryptos cannot be used to dodge sanctions.

Iranian foreign ministry spokesman Saeed Khatibzadeh said that the country's negotiators would not return to Vienna, the site of the year-long talks to restore the nuclear deal — formally called the Joint Comprehensive Plan of Action (JCPOA) — until Washington settles outstanding issues.

The International Air Transport Association (IATA) on Friday said its annual general meeting in June would be held in Qatar instead of Covid-hit China. China is experiencing its worst coronavirus outbreak since the start of the pandemic more than two years ago, with Shanghai posting record-high case counts. "It is deeply...

The plant fiber reached $1.3171 per pound (about 453 grams) on the key US futures contract, the highest since July 2011.

Strong pricing helps company offset lower China sales

A China Eastern passenger jet carrying 132 people crashed in southern China on Monday, aviation authorities said, with state media reporting it led to a fire on a mountain and the number of casualties unknown. State broadcaster CCTV reported that the plane crashed in Teng county near Wuzhou.

Evergrande and all its units halted trading in Hong Kong on Monday.

Russia's claim on Saturday to have unleashed its new hypersonic Kinzhal missile would mark a new escalation of its campaign to force Ukraine to abandon hopes of closer ties with the West, even as Volodymyr Zelensky urged Vladimir Putin for presidential-level talks.

Secretary-General of the Ministry of Investment, Zaher Qatarneh held a virtual meeting with a group of Jordanian businessmen in China.

Oil prices plunged on Tuesday as China, a major energy consumer, placed nearly 30 million people under COVID lockdown, and Hong Kong and Chinese mainland stock markets dove, while Wall Street stocks rallied. Brent oil futures finished under $100 a barrel for the first time in nearly three weeks, reflecting...

With Russia threatening to take ‘full control’ of several major cities in Ukraine, the fourth round of talks failed to deliver a breakthrough on the 19th day of the invasion, even as the US tried to talk down China from helping its neighbor.

Art auctions saw a record year in 2021 with $17.1 billion (15.6 billion euros) in sales as the market continued its rapid growth in Asia and recovered from its coronavirus slump, experts Artprice said Monday. The figure marked a 60-percent increase on 2020, when sales were hit by the initial...

Ten months of talks in Vienna have brought major powers close to renewing a landmark 2015 agreement on regulating Iran's nuclear program. But the negotiations were halted again after Russia demanded guarantees that Western sanctions imposed following its invasion of Ukraine would not damage its trade with Iran.

China cannot relax its zero-Covid policy just yet despite the low fatality rate of Omicron, say medical experts.

The organization says the real alarm came six years earlier March 11, 2020 but "few people bothered to sit up and take notice".

The refinery, in China’s Panjin, should be operational by 2024.

France warned Tuesday that further delays could stymie a revived nuclear agreement between world powers and Iran, with the West at loggerheads with Russia over its invasion of Ukraine, while Washington said it would cede nothing to Moscow. Russian Foreign Minister Sergei Lavrov has demanded written assurances from Washington that...

Saudi Arabia has teamed up with China to manufacture unmanned aerial vehicle payload systems in the kingdom.

Beijing will target gross domestic product growth of around 5.5% this year, according to a prepared speech by Premier Li Keqiang.

Saudi Arabia’s Crown Prince Mohammed bin Salman has created quite a few ripples with his views on all things important during his first interview to a non-Saudi publication in two years.

In a statement issued Thursday, the AIIB said that "in the best interests of the bank, management has decided that all activities relating to Russia and Belarus are on hold.

Negotiators meeting in Vienna to try and salvage the 2015 nuclear deal, which is meant to prevent Tehran from acquiring an atomic bomb, have made ‘significant progress,’ US State Department deputy spokeswoman Jalina Porter told reporters, echoing other nations in recent weeks.

The app is now letting users upload videos as long as 10 minutes.

All sides to the negotiations have signaled progress in the talks being held in the Austrian capital, but add that they are at a critical stage. Iran has repeatedly emphasized the need for the West to make certain "decisions".

The government said the non-oil foreign trade figures of all emirates also witnessed growth individually in varying levels. The growth was consistent across all areas, including exports, imports and re-exports.

The United Arab Emirates said Wednesday it plans to buy a dozen Chinese L15 aircraft, as it seeks to bolster its defenses after a series of attacks by Yemeni rebels. The country intended to sign a contract with the Chinese company to purchase 12 of the L15 training and light...

The drop followed reports that the Ant Group was being probed.

Saudi Aramco is interested in investing in China, its President and CEO Amin H Nasser, said. He asserted that Aramco has a huge interest in investing in the economic powerhouse. The CEO was speaking at the International Petroleum Technology Conference 2022 in Riyadh. “Definitely, we are looking for more investment...

Digital economy has driven the startup investment upsurge in the MENA region in 2021.