Oil Updates – crude price extends fall as China’s economic reforms underwhelm investors

Saudi Arabia named ‘most improved country overall’ in US Chamber of Commerce IP Index RIYADH: Saudi Arabia has received recognition as “the most improved country overall” in the 12th edition of the US Chamber of Commerce International Intellectual Property Index.  Released on March 2, the report emphasizes the several achievements of the Kingdom, with Vice … Read more

Saudi Arabia extends voluntary oil cut of 1m barrels per day until mid-2024

RIYADH: Saudi Arabia is gearing up for LEAP 2024, the world’s most-attended tech event, from March 4 to 7 at the Riyadh Exhibition and Convention Center in Malham. The pre-event gathering on Feb 28 announced this year’s theme as “Into New Worlds,” which encompasses new opportunities, technologies, and capabilities in the tech sector. The event … Read more

Oil Updates – crude nudges higher after OPEC+ extends output cuts

SINGAPORE: Oil prices nudged higher on Monday after OPEC+ members agreed to extend voluntary oil output cuts to the end of the second quarter, largely in line with market expectations, while Russia pledged to cut production and exports, according to Reuters. Brent futures was 14 cents, or 0.2 percent higher, at $83.69 a barrel at … Read more

Oil Updates – crude extends losses after dollar rises on shifting interest rate outlook

SINGAPORE: Oil prices fell on Monday, extending losses from the previous session after the dollar rose on market views that higher-than-expected inflation could delay cuts to high US interest rates that have been capping global fuel demand growth, according to Reuters. Brent crude futures fell 14 cents, or 0.2 percent, to $81.48 a barrel by … Read more

Professional Fighters League extends global reach with launch of PFL MENA after inaugural Riyadh event

DUBAI: Italian Jasmine Paolini battled back from a set and a break down in the final of the Dubai Duty Free Tennis Championships to win 4-6, 7-5, 7-5, secure her first WTA 1000 title, and spoil qualifier Anna Kalinskaya’s fairytale week. Kalinskaya had already written her name into the history books, beating world No.1 Iga … Read more

Tunisia extends state of emergency by 11 months until Dec. 31

DUBAI: Since the eruption of the latest war in Gaza on Oct. 7, the international community has sought an immediate humanitarian ceasefire and a clear pathway to a two-state solution as a means to settle the decades-old Israeli-Palestinian conflict. However, Benjamin Netanyahu, the Israeli prime minister, has made it clear he would not allow the … Read more

Oil Updates – crude extends gains on Middle East supply worries

SINGAPORE: Oil prices rose on Thursday, adding to solid gains in the previous session on persisting concerns over Middle Eastern supply following disruptions at a field in Libya and heightened tension around the Israel-Gaza war, according to Reuters. Brent crude rose 38 cents, or 0.5 percent, to $78.63 a barrel by 7:40 a.m. Saudi time, … Read more

Oil Updates – crude extends weekly gains, up 1 percent as Red Sea tension persists

RIYADH: The Cairo to Jeddah sector has been ranked as the second busiest international route during 2023, with 4.8 million seats, according to a report. Launched by global travel data provider firm the Official Airline Guide, the report indicated a 2 percent capacity difference between first and second place. This comes as 2023’s busiest international … Read more

Saudi Arabia’s Tabby secures $700m in debt financing and extends series D round to $250m 

RIYADH: COVID-19 has propelled the global private aviation industry as safety concerns and travel restrictions fueled a surge in demand for flexible and secure travel options.  Speaking to Arab News on the sidelines of the recently concluded Saudi Airport Exhibition, held in Riyadh from Dec. 19 – 20, Fahad Al-Jarboa, CEO of Saudia Private Aviation, … Read more