Oil Updates – prices slip further on US demand, interest rate fears

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RIYADH: The Saudi capital finds itself in global competition with cities like New York and Tokyo for a skilled workforce, according to its mayor. With a population exceeding 7 million, the city is experiencing an ongoing transformation as it becomes a hub for attracting talent and boosting entrepreneurship. In an interview with Arab News at … Read more

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

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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

Saudi Arabia seeing rising interest in credit ratings amid broader investments and economy diversification: Moody’s exec

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Startup of the Week – supply chain platform Omniful aims to boost Saudi Arabia’s e-commerce space CAIRO: E-commerce and supply chain operations platform Omniful is aiming to significantly boost its presence in the Saudi market after a successful $5.85 million seed funding round. In an interview with Arab News, CEO and co-founder of Omniful, Mostafa … Read more

Oil Updates – crude falls after US Fed governor says no rush to cut interest rates

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AI will drive efficiency amid global economic slowdown, leading financiers tell FII Priority Summit MIAMI: The chiefs of four of the world’s leading corporations stressed on Thursday, during the first day of the Future Investment Initiative Miami Summit, that while artificial intelligence has the potential to drive higher investment and economic growth across the world … Read more

Bruno Guimaraes warns off Real Madrid, Barcelona and Liverpool interest

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Saudi Arabia talent should be ‘playing in Europe’: Future Falcons technical director It has been another AFC Asian Cup disappointment for Saudi Arabia. It has now been 17 long years since the Green Falcons last made it to the quarterfinals of the tournament, and by the time the Kingdom hosts the next edition in 2027, … Read more

More countries express interest in joining OPEC+, says top official

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RIYADH: Achieving global power security is everyone’s responsibility, according to Saudi Energy Minister Prince Abdulaziz bin Salman.  Speaking at the International Petroleum Technology Conference in Dahran on Feb. 12, the minister said that the Kingdom is continuously working toward ensuring market stability.  He added that Saudi Arabia has significant surplus oil production capabilities. “We are … Read more

Global Markets – stocks set to snap 9-week winning streak on interest rate rethink

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LONDON/TOKYO: Global equities were on course to snap a nine-week winning streak, government bonds sold off, and the dollar was poised for its strongest weekly advance since mid-May, as bets on aggressive central bank rate cuts were rolled back, according to Reuters. MSCI’s broadest index of global stocks dipped 0.3 percent, heading for a 2 … Read more

GCC central banks keep interest rates unchanged, mirroring Fed’s move    

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RIYADH: Lebanon’s steep economic distress has led US-based Moody’s Investors Service to uphold its rating to “C” in light of its bondholders’ losses likely to exceed 65 percent.  According to Moody’s, the rating reflects the losses incurred due to Lebanon’s ongoing default since March 16, 2020.  The country has steeped in an economic, financial and … Read more