Saudi Energy Minister Khalid al-Falih speaks during the Gulf Intelligence Saudi Arabia Energy Forum in Riyadh. File
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 Crown Prince Mohammed Bin Salman plans to visit South Korea this week as the two countries seek to bolster economic ties, officials in Seoul said on Monday.
Saudi Arabia on Tuesday said that drones attacked one of its oil pipelines as other assaults targeted energy infrastructure elsewhere in the kingdom.
Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking vote of market confidence for the oil giant. State-owned Aramco›s bond issue, split into maturities ranging from three to 30 years, is seen as a gauge of potential investor interest in the Saudi company›s eventual initial public offering.
Dubai Economy issued fines to nine pharmacies and two pharmaceuticals suppliers for inflating the prices of face masks and trying to take undue advantage of the high demand for hygiene essentials following the nationwide alert against the Covid-19 pandemic.
The total value of the UAE’s non-oil trade in the first half of 2019 increased to Dhs786 billion, a 3.3 per cent growth compared to Dhs760.5 billion in the first half of 2018, according to the Federal Competitiveness and Statistics Authority, FCSA.
The UAE Rulers’ initiatives keep us motivated. The country has recently approved an additional support package of Dhs16 billion, bringing the total stimulus package to Dhs126 billion.
Egypt’s central bank is expected to leave its main interest rates unchanged as it weighs the impact of an emergency 300 basis point cut two weeks ago to soften the economic impact of the coronavirus outbreak, a Reuters poll showed.