LONDON: Economic losses caused by extreme weather events, from hurricanes to wildfires, are surging fastest in parts of the world outside the tropics — places that once saw relatively few such disasters, scientists and statisticians have warned. In those temperate zones — from the US and Canada to Europe and Australia — the cost of the…
LONDON: Economic losses caused by extreme weather events, from hurricanes to wildfires, are surging fastest in parts of the world outside the tropics — places that once saw relatively few such disasters, scientists and statisticians have warned. In those temperate zones — from the US and Canada to Europe and Australia — the cost of the…
LONDON: Oil prices rose as high as $60.65 a barrel on Friday after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, but bearish oil demand forecasts soon pulled crude off session highs. The Iranian Suezmax crude tanker Sabiti was ablaze and suffered heavy damage…
LONDON: Oil prices rose as high as $60.65 a barrel on Friday after Iranian media said a state-owned oil tanker had been struck by missiles in the Red Sea near Saudi Arabia, but bearish oil demand forecasts soon pulled crude off session highs. The Iranian Suezmax crude tanker Sabiti was ablaze and suffered heavy damage…
TOKYO: Toyota Motor Corp. unveiled a redesigned hydrogen-powered fuel cell sedan on Friday in its latest attempt to revive demand for the niche technology that it hopes will become mainstream. Japan’s biggest automaker has been developing fuel-cell vehicles for more than two decades, but the technology has been eclipsed by the rapid rise of rival…
RIYADH: The opening up of Saudi Arabia’s stock exchange to international investors has attracted scrutiny of the Kingdom’s publicly traded companies and their standards of compliance and integrity, according to the CEO of SABIC. Yousef Al-Benyan, CEO and chairman of Saudi Basic Industries Corp. (SABIC), said that companies with the highest standards of corporate governance…
MOSCOW: Russian President Vladimir Putin will visit Saudi Arabia on Monday for talks on oil and tensions between Riyadh and Tehran, exacerbated by a recent attack on Saudi oil infrastructure, the Kremlin said. The planned visit is the first by Putin since 2007 and will include a meeting with Saudi King Salman as well as…
LONDON: A deeper cut in oil supplies is among options for OPEC and its allies to consider in December, its secretary general said on Thursday as the producer group’s forecasts pointed to slower global growth and lower demand next year. OPEC, Russia and other producers, an alliance known as OPEC+, have since January implemented a…
SEOUL: Saudi Arabia remains the largest crude supplier for South Korea in the absence of Iranian oil shipments, according to customs data. South Korea’s oil imports from Iran were halted after the US re-imposed sanctions against the Islamic republic in May. The statistics, released by the Korea National Oil Corporation, show that South Korea bought a…
LONDON: Wide variations in the way oil companies report their efforts to reduce carbon emissions make it difficult to assess the risk of holding their shares as the world shifts away from fossil fuels, senior fund managers say. Investors have poured money into so-called sustainable funds, which take into account companies’ environmental, social, legal and other…
LONDON: Wide variations in the way oil companies report their efforts to reduce carbon emissions make it difficult to assess the risk of holding their shares as the world shifts away from fossil fuels, senior fund managers say. Investors have poured money into so-called sustainable funds, which take into account companies’ environmental, social, legal and other…
WASHINGTON/SHANGHAI: The US government widened its trade blacklist to include some of China’s top artificial intelligence startups, punishing Beijing for its treatment of Muslim minorities and ratcheting up tensions ahead of high-level trade talks in Washington this week.The decision, which drew a sharp rebuke from Beijing, targets 20 Chinese public security bureaus and eight companies…
LONDON: The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, has opened its first foreign office in Saudi Arabia. It comes amid deepening commercial ties between the two countries, which have already established the Russia-Saudi Investment Fund, the Platform for Russian-Saudi Energy Investment and the $1 billion Russian-Saudi platform for investments in the technology sector.…
LONDON: The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, has opened its first foreign office in Saudi Arabia. It comes amid deepening commercial ties between the two countries, which have already established the Russia-Saudi Investment Fund, the Platform for Russian-Saudi Energy Investment and the $1 billion Russian-Saudi platform for investments in the technology sector.…
ABU DHABI: The United Arab Emirates lifted a ban on its citizens visiting Lebanon on Monday as the Beirut government sought UAE help in steering the heavily indebted economy out of deep crisis.Prime Minister Saad al-Hariri, leading a delegation to Abu Dhabi seeking support, had told Reuters he was hoping the UAE would inject cash into…
RIYADH: Riyadh Gov. Prince Faisal bin Bandar inaugurated Saudi Build 2019 at the Riyadh International Convention & Exhibition Center on Monday. The construction exhibition — which takes place on Oct. 7-10 — will provide opportunities for investors who are eager to enter the Saudi market. Mohammed Al-Sheikh, head of marketing and corporate communications at the…
RIYADH: Riyadh Gov. Prince Faisal bin Bandar inaugurated Saudi Build 2019 at the Riyadh International Convention & Exhibition Center on Monday. The construction exhibition — which takes place on Oct. 7-10 — will provide opportunities for investors who are eager to enter the Saudi market. Mohammed Al-Sheikh, head of marketing and corporate communications at the…
LONDON: As much as $71 billion in Japanese coal assets could be at risk as the economic viability of plants is undermined by cheaper renewable energy, research by the University of Tokyo, Carbon Tracker and the Carbon Disclosure Project showed on Sunday. The report, called Land of the Rising Sun and Offshore Wind, used project financial…
LONDON: As much as $71 billion in Japanese coal assets could be at risk as the economic viability of plants is undermined by cheaper renewable energy, research by the University of Tokyo, Carbon Tracker and the Carbon Disclosure Project showed on Sunday. The report, called Land of the Rising Sun and Offshore Wind, used project financial…
BEIRUT: Fears of a monetary devaluation in Lebanon, where the exchange rate has been fixed for more than two decades, are on the increase following a dollar shortage and the downgrading of the country’s sovereign credit rating. Panic has gripped Lebanon in recent weeks when it became nearly impossible to withdraw dollars from ATMs or to…
