Oil tanks seen at the Saudi Aramco headquarters in Damam. Reuters
Saudi Arabia raised the local price for Octane 95 to 2.10 riyals from 2.02 riyals last quarter and Octane 91 to 1.44 riyals from 1.37 riyals per litre, state oil firm Saudi Aramco said on Saturday. The change goes into effect on Sunday (April 14), the company said in a statement,
Saudi Arabia unveiled the design of its pavilion at the Expo 2020 Dubai on Sunday. The pavilion will be second in size only to that of the UAE pavilion, covering an area the size of two football pitches.
Riyadh is committed to “stabilise” the oil market after a US decision to end sanction exemptions for Iran’s customers, Saudi Arabia›s Energy Minister Khalid Al Falih said on Monday. The kingdom reaffirms its longstanding policy, which seeks to stabilise the markets at all times,” he said in a statement carried by the official Saudi Press Agency.
The Federation of UAE Chambers of Commerce and Industry in partnership with the Dubai Chamber of Commerce and Industry and the Saudi Food and Drug Authority recently hosted a workshop for UAE business and stakeholders interested in exporting to Saudi Arabia.
European firms are “caught in the crossfire” of the US-China trade war and fewer are optimistic about their future in the world’s second-largest economy, a business survey showed on Monday.
Jebel Ali Free Zone (Jafza), the Middle East’s leading special economic zone and key growth engine of Dubai’s economy, has announced it will waive an estimated Dhs35 million in fines owed by its customers, in commemoration of the UAE Government’s designation of 2019 as the Year of Tolerance.
The Pakistan Tehreek-e-Insaf (PTI) government has accepted the long outstanding demand of stockbrokers to constitute a fund for stabilising the stock market. Adviser to Prime Minister on Finance Abdul Hafeez Shaikh accepted the proposal to form the fund at a meeting with the Pakistan Stock Exchange’s (PSX)
India’s foreign exchange reserves increased by $1.368 billion during the week ended May 10, official data showed. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $420 billion from $418.687 billion reported for the week ended May 3.