LONDON: The Organization of the Petroleum Exporting Countries on Thursday predicted robust fuel use in the summer months and stuck to its forecast for relatively strong growth in global oil demand in 2024, while saying there was a chance the world economy could do better than expected this year, according to Reuters. OPEC, in a … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index closed at 12,656.94 points on Monday, marking a decrease of 139.15 points or 1.09 percent. Conversely, the parallel market, Nomu, concluded at 27,237.44, registering an uptick of 397.03 points or 1.48 percent. The MSCI Index descended by 20.19 points to settle at 1,592.39, a drop of 1.25 percent. … Read more
UNITED NATIONS: The United Nations has warned that widespread famine in the Gaza Strip is “almost inevitable” without action. A formal conclusion that famine has arrived in the coastal enclave of 2.3 million people could come next week. WHAT IS FAMIME AND WHO DECLARES ONE?A famine is assessed by the Integrated Food Security Phase Classification … Read more
SINGAPORE: Oil prices on Thursday extended declines from the previous session after a larger-than-expected build in US crude stockpiles stoked worries about slow demand, while signs that US interest rates could remain elevated added to pressure, according to Reuters. Brent crude futures fell 14 cents, or 0.2 percent, to $83.54 a barrel by 7:20 a.m. … Read more
RIYADH: In a bid to attract global talent and diversify its economy away from oil, Saudi Arabia has added five new categories to its premium residency program. The program, launched in 2019, aims to allow eligible foreigners to live in the Kingdom and receive benefits such as exemption from paying expat and dependents fees, visa-free … Read more
RIYADH: Since its establishment in 1974, the Saudi Fund for Development has been extending a helping hand to other countries in the form of soft loans and grants for different development projects in various fields. According to official data, since its inception, the fund supported more than 800 development projects worth $20 billion in over 100 … Read more
RIYADH: Saudi Arabian Mining Co. has announced the discovery of a substantial gold resource potential along a 100 km strike from the existing Mansourah-Massarah gold mine. The state-owned firm, also known as Ma’aden, unveiled this as the first discovery within its intensive exploration program launched in 2022, according to a statement. The initiative … Read more
WASHINGTON: Republican presidential contender Donald Trump posted a poll on Truth Social on Tuesday, highlighting that the word voters most associate with a potential second term under his command is “revenge.” With campaigning ramping up ahead of the first Republican nomination contest, the post followed a separate Truth Social message on Christmas Day, in which … Read more