Aramco will pay Saudi Arabia's sovereign wealth fund in several installments
Saudi Aramco has completed a deal it reached last year to buy a 70% stake in Saudi Basic Industries Corp. for around $70 billion.
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133,000 customers benefitted from the liquidity support of CBUAE extended through banks
The First Abu Dhabi Bank in Abu Dhabi. Fifteen leading UAE banks have fully utilised their share of the Dh50 billion liquidity support package provided by the Central...
After flooding US with crude earlier this year, Saudi Arabia has all but cut off the tap
Workers at Saudi Aramco’s Abqaiq crude oil processing plant. The kingdom has exported just one cargo to the U.S. so far in June,...
With all those job losses happening now, it’s time next generation gets taught right
A recent study showed only 33 per cent of adults can be considered financially literate with wide disparities between countries.
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The...
Laggards no longer have excuses to pay lip service to cuts and then ignore them
Despite the crippling losses caused by the short-term oil price war, a new foundation was introduced in the relationship among OPEC+ countries as well as...
US crude stockpiles rose by 3.86 million barrels in the past week
Flags fly from a Royal Dutch Shell oil rig in Texas. The American Petroleum Institute reported U.S. crude stockpiles rose by 3.86 million barrels in the past week.
Stage is set for government and central bank to come up with immediate incentives
Jobless rates have spiked in the UK despite an earlier move by government to prevent it from happening. But without the furlough scheme, it could have...
They should head back to some semblance of normal within two years
Current oil consumption is at 2013 levels, but there are signs of demand returning, says UAE oil minister
Abu Dhabi: Oil production limits adopted by a group of major...
Even with lockdowns easing, demand gains have not been that substantial to date
Oil demand is likely to record its biggest ever decline through the rest of the year. Even massive production cuts are yet to help stabilise demand.
Abu Dhabi:...
It will offer line-of-credit to meet operating expenses for up to three months
Small and mid-sized Saudi industrial firms will be able to cover their operational expenses for up to three months through tapping the new aid package.
Riyadh: Saudi Arabia...
