KARACHI, Pakistan: Pakistani police fired tear gas to disperse supporters of former Prime Minister Imran Khan in the southern city of Karachi on Sunday, less than two weeks before a national parliamentary election that Khan was blocked from running in because of a criminal conviction. An Associated Press reporter at the scene saw between 20 … Read more
UNITED NATIONS: The volume of commercial traffic passing through the Suez Canal has fallen more than 40 percent in the last two months after attacks by Yemen’s Houthi rebels, according to the United Nations, raising concerns for global trade. The Iran-backed Houthis say they are targeting what they consider Israeli-linked commercial and military shipping in … Read more
RIYADH: Aramco has awarded contracts worth more than $3.3 billion to Chinese company Sinopec and Spain’s Tecnicas Reunidas to build a gas facility in Saudi Arabia. According to a disclosure on the Spanish Stock Exchange, Sinopec will own 65 percent of the project and Tecnicas Reunidas will have a 35 percent share. The contract includes … Read more
RIYADH: Saudi Arabia’s drive for environment-friendly materials is set to gain momentum as oil giant Aramco is collaborating with the Kingdom’s premier research university to establish a technology consortium. The world’s most valuable company has formalized an agreement with the King Abdullah University of Science and Technology to create ENERCOMP, a new initiative will focus … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index experienced a rise on Thursday, gaining 42.57 points, or 0.36 percent, to close at 11,931.92. This marks the highest close since October 2022. The total trading turnover of the benchmark index was SR7.19 billion ($1.91 billion) as 123 of the listed stocks advanced, while 91 retreated. Similarly, the … Read more
NEW YORK: Oil prices rose on Tuesday as attacks by Yemen’s Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels, according to Reuters. Brent crude futures rose 21 cents, or 0.27 percent, to $78.16 a barrel at 8:30 a.m. Saudi time. The front-month US West Texas … Read more
RIYADH: Trade and economic ties between Saudi Arabia and China are expected to further strengthen, with the recent investment conference in Beijing witnessing the signing of more than 60 memorandums of understanding and agreements valued at $25 billion. The China-Saudi Investment Conference on Tuesday witnessed the signing of agreements in various sectors, including energy, agriculture, … Read more
RIYADH: Saudi Aramco is set to enter the Pakistani fuels retail market for the first time after it signed an agreement to acquire a 40 percent stake in Gas & Oil Pakistan Ltd. GO, a diversified downstream fuels, lubricants and convenience stores operator, is one of the largest retail and storage companies in Pakistan. The deal will help Aramco secure … Read more