SINGAPORE: Oil prices edged up on Tuesday, lifted by supply cuts led by producer club OPEC and US sanctions against Iran and Venezuela, but signs of a sharp economic slowdown and potentially even a recession kept markets from rising further.Brent crude oil futures were at $67.33 per barrel at 0416 GMT, up 12 cents, or…
DUBAI: Bahrain’s liquefied natural gas (LNG) terminal will start commercial operations in May, with the first LNG shipment to be imported mostly from the UAE’s ADNOC, state media quoted the CEO of Bahrain’s National Oil and Gas Authority (NOGA) as saying.Bahrain LNG is the developer of the receiving and regasification terminal within the Khalifa bin…
DUBAI: Bahrain’s liquefied natural gas (LNG) terminal will start commercial operations in May, with the first LNG shipment to be imported mostly from the UAE’s ADNOC, state media quoted the CEO of Bahrain’s National Oil and Gas Authority (NOGA) as saying.Bahrain LNG is the developer of the receiving and regasification terminal within the Khalifa bin…
ADDIS ABABA/SINGAPORE: Boeing will brief more than 200 global airline pilots, technical leaders and regulators this week on software and training updates for its 737 MAX aircraft, as Ethiopian Airlines expressed confidence in the planemaker despite a recent crash.The carrier will work with Boeing and other airlines to make air travel safer, its chief executive,…
DUBAI/HAMBURG: Egypt, the world’s largest wheat importer, will go back to paying its grain suppliers within 180 days instead of immediately, a government source and traders said on Monday.Egypt’s state grain buyer GASC had said in January it would start immediate on-sight payment after obtaining financing from Islamic Trade Finance Corp. for its international purchasing…
NEW DELHI: Jet Airways Chairman Naresh Goyal will step down from the board and reduce his stake in the cash-strapped Indian carrier, the company said on Monday as it closes in on a rescue deal led by state-run banks. The banks, led by State Bank of India (SBI), will convert their debt into equity and…
NEW DELHI: Jet Airways Chairman Naresh Goyal will step down from the board and reduce his stake in the cash-strapped Indian carrier, the company said on Monday as it closes in on a rescue deal led by state-run banks. The banks, led by State Bank of India (SBI), will convert their debt into equity and…
DUBAI: Bahrain’s liquefied natural gas (LNG) terminal will start commercial operations in May, with the first LNG shipment to be imported mostly from the UAE’s ADNOC, state media quoted the CEO of Bahrain’s National Oil and Gas Authority (NOGA) as saying.Bahrain LNG is the developer of the receiving and regasification terminal within the Khalifa bin…
WASHINGTON: US economists are less optimistic about the outlook and sharply lowered their growth forecasts for this year, amid slowing global growth and continued trade frictions, according to a survey published Monday.And while the odds of a recession by 2020 remain low, they are rising, the National Association for Business Economics said in their quarterly…
WASHINGTON: US economists are less optimistic about the outlook and sharply lowered their growth forecasts for this year, amid slowing global growth and continued trade frictions, according to a survey published Monday.And while the odds of a recession by 2020 remain low, they are rising, the National Association for Business Economics said in their quarterly…
SYDNEY: Investors ditched shares on Monday and fled to the safety of bonds while the Japanese yen hovered near a six-week high as risk assets fell out of favor on growing fears about a US recession, sending global yields plunging.US stocks futures fell, with E-minis for the S&P 500 skidding 0.5 percent. MSCI’s broadest index…
HOUSTON: When Tad Smith and I spoke early last week, we had one overriding thing in common: jet lag.I was one day into an ordeal that, on past experience of West-East long-haul air travel, would last at least a week.The 53-year-old chief executive officer of Sotheby’s, the international auction house, was midway through his torment,…
ABU DHABI: Abu Dhabi will commit up to $272 million to support technology start-ups, it said on Sunday, in a dedicated hub as part of efforts to diversify its economy. US tech giant Microsoft will be a strategic partner, providing technology and cloud services to the businesses that join the hub as the capital of…
HAMBANTOTA, Sri Lanka: Oman’s oil minister said on Sunday he was excited to be part of a Sri Lanka oil refinery project, an indication plans for the sultanate’s involvement may be back on track.The comments by Mohammed bin Hamad Al-Rumhy came after an Omani official last week had denied the Middle Eastern country had agreed…
HAMBANTOTA, Sri Lanka: Oman’s oil minister said on Sunday he was excited to be part of a Sri Lanka oil refinery project, an indication plans for the sultanate’s involvement may be back on track.The comments by Mohammed bin Hamad Al-Rumhy came after an Omani official last week had denied the Middle Eastern country had agreed…
INTERVIEW: Sotheby’s boss sees Saudi Arabia as important supplier and buyer in auction room Updated 19 min 25 sec ago March 24, 2019 00:24 HOUSTON: When Tad Smith and I spoke early last week, we had one overriding thing in common: jet lag.I was one day into an ordeal that, on past experience of West-East…
INTERVIEW: Sotheby’s boss Tad Smith sees Saudi Arabia as important supplier and buyer in auction room HOUSTON: When Tad Smith and I spoke early last week, we had one overriding thing in common: jet lag.I was one day into an ordeal that, on past experience of West-East long-haul air travel, would last at least a…
ROME: Italy endorsed China’s ambitious “Belt and Road” infrastructure plan on Saturday, becoming the first major Western power to back the initiative to help revive the struggling Italian economy.Saturday’s signing ceremony was the highlight of a three-day trip to Italy by Chinese President Xi Jinping, with the two nations boosting their ties at a time…
PARIS: The five largest publicly listed oil and gas majors have spent $1 billion since the 2015 Paris climate deal on public relations or lobbying that is “overwhelmingly in conflict” with the landmark accord’s goals, a watchdog said Friday.Despite outwardly committing to support the Paris agreement and its aim to limit global temperature rises, ExxonMobil,…
LONDON: The Gulf is overtaking Asia as the global leader in cryptocurrencies, as countries such as Saudi Arabia and the UAE embrace blockchain technology despite the crash in coin prices, according to the cofounders of a new digital-currency exchange.Bitcoin prices have plummeted by more than 50 percent in the last year, from a high of…
