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QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme
  • Kremlin slams Macron claims Russia trying to undermine Olympics

    Moscow, Russia - The Kremlin on Friday blasted as "unacceptable" French President Emmanuel Macron's claims that Russia was trying to undermine the Paris Olympics through a disinformation campaign. Macron had said Thursday that Moscow was trying to promote the narrative that France was unable to host the Games and that the...
  • Putin to visit UAE, Saudi Arabia for talks amid OPEC output cuts

    Russian President Vladimir Putin, according to his aide Yuriy Ushakov, will first arrive in the UAE this week and then visit Saudi Arabia to meet with the kingdom's Crown Prince Mohammed bin Salman. Putin's diplomatic journey to the Gulf region comes at a time of deepening ties with key Gulf...
  • 134 nations to put food, agriculture in national climate plans

    "This declaration is the moment when food truly comes of age in the climate process, sending a powerful signal to the nations of the world that we can only keep the 1.5 degree goal in sight if we act fast," said the group's CEO Ani Dasgupta.
  • Europe to splurge record $295bn on military in 2023, says official

    Moscow's all-out invasion of Ukraine in 2022 provided Europe with a wake-up call that it needed to pump more into defense to be able to confront the threat of its bellicose eastern neighbor.
  • Saudi Arabia, Russia extend voluntary oil cuts until March 2024

    Saudi Arabia will extend its voluntary cut of 1 million barrels per day. The latest Saudi cut is in addition to the voluntary cut of 500,000 barrels a day previously announced by the Kingdom in April 2023, which extends until the end of December 2024.
  • Diamond industry adopts tracking as Russia sanctions loom

    Antwerp, Belgium - As European capitals prepare to implement long-awaited sanctions on Russia's diamond exports, Belgian traders are bracing for new scrutiny of their industry. In Antwerp's renowned diamond district -- which handles an estimated 86 percent of the world's rough diamonds -- polishing "labs" are turning to blockchain technology to...
  • Stock markets on hold as investors await key US inflation data

    Stock markets were mostly in wait-and-see mode as investors eyed the release this week of key US inflation data that could guide Federal Reserve plans for interest rates. Oil prices slid nearly two percent before cutting their losses as dealers awaited a delayed meeting of OPEC and its allies to...
  • Global food-security crisis nudges GCC to look inward

    Billions of dollars are being invested into ventures to grow food in the GCC to make the arid, hot region self-sufficient, in a sector vulnerable to the vagaries of war, climate and disease.
  • Hamas frees more captives in Gaza as truce extension mooted

    Hamas released a third group of hostages including a four-year-old American girl with more Palestinian prisoners set to be freed in exchange. A source close to the group said it was willing to prolong a truce. The Israeli army said 13 released hostages were back in the country and another...
  • Oil slides further after OPEC delay as Asian stocks struggle

    Both main crude contracts slipped more than one percent on news that the much-anticipated gathering of the major producers would be put back by four days to November 30. Reports said the decision was made after Angola and Nigeria pushed back at lower targets urged on them, with Saudi Arabia...
  • Crude prices slip 4% after OPEC+ reschedules Vienna meeting

    The current output strategy by OPEC+ that saw nine members led by Riyadh to cut production in recent months to boost prices has failed to bring about lasting recovery. Some analysts have pointed to possible discord between top crude oil producers Saudi Arabia and Russia.
  • Iran and Russia to speed up railway project along Caspian Sea

    Tehran, Iran--Iran will begin construction work on joint railway projects with Russia as part of the International North-South Transport Corridor (INSTC). "The preliminary steps and obtaining the necessary permits for the construction of the Rasht-Astara railway have been carried out by the Iranian side, and we hope that with the...
  • Pakistan applies for BRICS membership in 2024: envoy to Russia

    Moscow, Russia - Pakistan has filed an application to join the BRICS group of nations in 2024 and is counting on Russia’s assistance during the membership process, the country’s newly appointed Ambassador to Russia Muhammad Khalid Jamali has told Russian news agency TASS in an interview. When asked whether the...
  • Top diplomats of some OIC countries arrive in Russia, to discuss Gaza

    MOSCOW, RUSSIA – The foreign ministers of Saudi Arabia, Jordan, Egypt, Indonesia, Palestine and the Secretary General of the Organization of Islamic Cooperation (OIC) have arrived here to discuss the Gaza Strip with Russian Foreign Minister Sergey Lavrov, a diplomatic source told TASS. "They have arrived, the meeting will start...
  • BRICS urges immediate ceasefire in Gaza, S.Africa decries ‘genocide’

    "The collective punishment of Palestinian civilians through the unlawful use of force by Israel is a war crime. The deliberate denial of medicine, fuel, food and water to the residents of Gaza is tantamount to genocide," said South African President Cyril Ramaphosa.
  • Putin to speak at online BRICS summit on Middle East

    Moscow, Russia - President Vladimir Putin will take part in an online BRICS summit on the escalation of the situation in the Middle East, the Kremlin press service said on Monday. "On November 21, Russian President Vladimir Putin will take part in an extraordinary BRICS summit (in the videoconference format)...
  • Top Iran and Russia diplomats hold talks, voice concern at ‘confrontation’ in Gaza

    Moscow, Russia-- Iran and Russia have held talks over the ongoing Israel's war on the Gaza Strip, expressing "concern over the continuing armed confrontation" there. The deliberations were conducted in talks over telephone between the Russian and Iranian foreign ministers, Sergey Lavrov and Hossein Amir-Abdollahian, the Russian foreign ministry said...
  • Bahrain and Russia look to boost economic cooperation

    Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In this regard, Dr. Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs, met Roman Panov, the President of the Russian GEOTEK company, a...
  • Iran and Russia diplomats hold discussions on BRICS

    Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities in the spheres of trade, finance and economy. Mahdi Safari, Iran's Deputy Foreign Minister for Economic Diplomacy hosted the Deputy Minister of Foreign Affairs of the Russian Federation and the country's special envoy for BRICS affairs...
  • Almost all oil and gas producers developing unneeded fields: NGO

    Germany's Urgewald, along with 50 other NGOs, analyzed the investment plans of 1,623 companies involved in the oil and gas industry - representing 95 percent of global hydrocarbon production. Urgewald estimates that 539 companies -- including Saudi Aramco, QatarEnergy and Russia's Gazprom are preparing to produce an extra 230 billion...
  • Iran to link up electricity grid with Russia via Azerbaijan

    Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its power shortfall. The Islamic republic's minister of energy said the electricity grids of Iran and Russia would be connected, adding that feasibility studies for the connection via the Republic of...
  • Ukraine officer had key role in Nord Stream sabotage: reports

    Mystery has surrounded who was behind the blasts that damaged the pipelines, cutting off a major route for Russian gas exports to Europe and fuelling already high tensions over Moscow's invasion of Ukraine. Different theories have emerged pointing the finger at Ukraine, Russia or the United States. All have denied...
  • Russia spreading disinformation on Middle East situation, says Microsoft

    Paris, France - Russia has been spreading "disinformation" about the situation in the Middle East, the president of Microsoft said on Saturday, as tensions soar in the region due to the Israel-Hamas war. Brad Smith, Microsoft vice chair and president, was asked about the role of the US tech giant in...
  • Israeli bombing leaves Gaza with no safe zones, says Russia to UN

    New York, USA - There are no safe zones left in Gaza amid Israeli strikes, Russian Permanent Representative to the United Nations Vasily Nebenzya said. "(Israel’s) deliberate strikes on civilian facilities are a blatant violation of international humanitarian law," he pointed out at a UN Security Council meeting on the...
  • Aramco profits down

    The oil giant posted a 23% drop in profits for Q3 to US$32.58bn.
  • Stocks extend global rally as US jobs data cements rate hopes

    Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned optimism that the Federal Reserve had reached the end of its interest rate hiking cycle. After a tough year for traders, the bank's decision last week to pause on monetary...
  • Russia calls for collective action to end fighting between Israel, Hamas

    Russia called for "collective action" to end fighting between Israel and Hamas, including an international conference, almost a month into the war that has left thousands dead. Russia, which has been waging a large-scale military operation in Ukraine for over 20 months, has also repeatedly criticized Western policies in the...
  • Russia to continue voluntary oil export cuts by 300,000 barrels a day until yearend

    Moscow, Russia - Russia will continue additional voluntary oil export cuts by 300,000 barrels a day until the end of the current year, Russian Deputy Prime Minister Alexander Novak said on Sunday, Russian news agency TASS reported. "Russia will continue additional voluntary decrease of supplies of its oil and oil...
  • gaza, israel, oil, crude

    Saudi Arabia to continue voluntary oil cut until end of Dec 2023

    Riyadh, Saudi Arabia -- Saudi Arabia has announced it will continue the voluntary cut of one million barrels per day, which went into implementation in July 2023 and was later extended until the end of December 2023. The Kingdom’s production in the month of December 2023 will be approximately 9...
  • Russian Foreign Ministry specifies conditions for resuming grain deal

    Moscow, Russia - Moscow on Thursday reiterated the need to fully implement the provisions of the Russia-UN memorandum for the resumption of the grain deal, Alexey Polishchuk, head of the second department of the CIS countries at the Russian Foreign Ministry said in an interview with the Russian news agency...
  • Putin revokes Russia’s ratification of Nuclear Test Ban Treaty

    During parliamentary hearings, State Duma speaker Vyacheslav Volodin said the move to revoke the treaty was a response to the United States' "cynicism" and "boorish attitudes" on nuclear weapons.
  • US sanctions Turkey, China, UAE entities to disrupt Russia war

    "Russia is dependent on willing third-country individuals and entities to resupply its military and perpetuate its heinous war against Ukraine and we will not hesitate in holding them accountable," said Treasury Secretary Janet Yellen in a statement. The Treasury added on Thursday that Russia has been exploiting "otherwise legitimate economic...
  • BP rebounds with $4.9bn Q3 profit

    The oil giant had posted a net loss of $2.2bn the previous year.
  • Holocaust memorial decries envoy for wearing yellow star at UN

    His wearing of the badge, which has come to symbolize the oppression of Jews since its imposition in Nazi-occupied Europe, was swiftly criticized by Yad Vashem, Israel's Holocaust memorial, which urged him to wear the Israeli flag instead.
  • The ‘Pax Americana,’ the ‘American world’ with a single hegemon is crumbling: Putin

    Novo-Ogaryovo, Russia: The United States and its satellites are benefiting from conflicts in the Middle East and other parts of the world, Russian President Vladimir Putin said on Monday. "We must not, have no right and cannot afford to be guided by emotions. We must clearly see who is really...
  • Biblical-scale catastrophe unfolding in Gaza Strip: Russia’s UN envoy

    United Nations, New York - A humanitarian catastrophe on a biblical scale is unfolding in the Gaza Strip, Russia’s Permanent Representative to the UN Vasily Nebenzya said at a session of the UN Security Council. "It’s time to call it what it is: a humanitarian catastrophe on a biblical scale...
  • Russia points fingers at ‘external’ forces behind anti-Israel riot

    Moscow, Russia - Russia on Monday blamed "external interference" for an anti-Israel riot that closed an airport in the Muslim-majority region of Dagestan the previous day. "Yesterday's events at Makhachkala airport are, to a large extent, the result of external interference," Kremlin spokesman Dmitry Peskov told reporters. Russian police on Monday...
  • Britain grants 27 new oil and gas exploration licenses in North Sea

    London, United Kingdom - Britain on Monday awarded 27 new licenses for oil and gas exploration in the North Sea as it seeks to quickly boost energy security, but the announcement angered environmentalists. The Conservative government has argued that drilling for new oil and gas is necessary to bolster Britain's energy...
  • Russian ambassador summoned by Israeli over Hamas visit to Moscow

    Moscow, Russia - Israeli authorities have summoned the Russian Ambassador to Israel, Anatoly Viktotov, in response to a recent visit by a Hamas delegation to Moscow, Israeli media reported. The Israeli Foreign Ministry expressed concern over Russia's failure to issue a clear and unequivocal condemnation of Hamas, and raised questions...
  • Musk says Starlink internet to support Gaza’s ‘recognized’ aid groups

    Paris, France - Billionaire Elon Musk said on Saturday that his Starlink satellite service would support internet access for "internationally recognized aid organizations in Gaza," which have faced a telecommunications blackout since Friday. Starlink is a network of satellites in low Earth orbit that can provide internet to remote locations, or...
  • Hamas seeks to let go Russian-Israeli hostages, says Russian media

    Hamas is trying to locate eight Russian-Israeli dual citizens among nearly 230 taken hostage during its members' attack on Israel after Moscow's request to free them, Russian news agencies reported. Russia has good relations with Hamas and has launched a diplomatic effort to try to free hostages held in Gaza.
  • Iran, Russia to invest $38bn in developing INSTC

    TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a key element of the transportation network in Eurasia. Speaking in a specialized meeting of INSTC- New Concept, which was held in Astrakhan Port of Russia, Dariush Jamali pointed to the...
  • Palestine’s Abbas expected in Moscow for talks with Putin soon: Russian diplomat

    Moscow, Russia - Palestinian leader Mahmoud Abbas will soon visit Moscow for talks with Russian President Vladimir Putin, a senior Russian diplomat announced. "I can say that he [Abbas] will soon arrive on an official visit in Moscow; talks with Vladimir [Putin] will be held here," said Russian Deputy Foreign...
  • TotalEnergies Q3 profit up 1.5%

    The French energy firm earned a net profit of $6.7 billion.
  • Putin warns Israel-Hamas conflict could escalate beyond the Middle East

    Moscow, Russia - Russian President Vladimir Putin warned on Wednesday that the Israel-Palestine conflict could potentially extend beyond the Middle East, Reuters reported. Russian leader stressed the need to protect innocent civilians, during a meeting with religious leaders of various faiths in the Kremlin and called for an end to...
  • With Mideast crisis, Russia and China hope to turn tables on US

    The Chinese and Russian reprimands ring hollow for US officials, who doubt the rival powers will engage in painstaking diplomacy along the lines of Secretary of State Antony Blinken's recent trip to the region. But the United States has historically stood out as a lonely voice in its close embrace...
  • Stora Enso posts loss again

    Stora Enso registered a loss of $272m euros in Q2 2023.
  • UN General Assembly to discuss Israel-Hamas war on Thursday

    Many states including Jordan on behalf of an Arab group of nations, Russia, Syria, Bangladesh, Vietnam and Combodia formally requested General Assembly president to schedule the meeting. The UN Security Council, regularly divided on the Israeli-Palestinian issue, rejected a Russian draft resolution last week calling for a "humanitarian pause."
  • Treaty on strategic partnership between Russia and Iran 85% ready: Lavrov

    Tehran, Iran--A treaty on comprehensive strategic partnership between Russia and Iran is about 85 percent ready, Russian Foreign Minister Sergey Lavrov said on Monday. "The work on a new big treaty is at an advanced stage. I would say that it is 85 percent agreed. Several specific issues are yet...
  • Putin calls for ‘unhindered access’ for humanitarian aid into Gaza

    MOSCOW, RUSSIA - Russian President Vladimir Putin called on Monday for "unhindered access" for humanitarian aid to enter Gaza, in a telephone call with his Brazilian counterpart Luiz Inacio Lula da Silva, the Kremlin said. According to a readout of the call from the Kremlin, the two leaders "expressed serious concern...
  • Russia FM to visit Iran amid tensions in Middle East

    Iran and Russia have bolstered ties in many fields over the last few years and Moscow has turned to Tehran for military support and economic partnerships as both countries face a raft of Western sanctions. The West has accused Tehran of supporting Russia's offensive in Ukraine by providing it with...