An Aramco employee walks past near an oil tank at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia. Reuters
Reliance Industries’s June-quarter profit rose 7 per cent, as double-digit growth in the Indian conglomerate’s retail and telecoms businesses helped offset its worst oil refining margins in 18 quarters.
Rebutting rumours about the financial health of Reliance Group, its Chairman Anil D. Ambani on Tuesday said the Group has met debt servicing obligation of Rs 35,000 crore during the period from April 1, 2018 to May 31, 2019.
The end on Thursday of US sanctions waivers for purchases of Iranian oil is likely to hit India’s economy hard, increasing fuel costs and quickening inflation, analysts say.
India’s Reliance Industries, operator of the world’s biggest refining complex, posted a record net profit on Thursday as strong growth in retail and telecom businesses offset the impact of 17-quarter low refining margins. Reliance, controlled by billionaire Mukesh Ambani, said
Sharjah Asset Management (SAM), the investment arm of the Sharjah government, has announced the launch of a new company through its partnership with the largest engineering consulting firm in Malaysia (CHSS).
The Dubai Financial Market (DFM) on Sunday announced that it is reopening its Trading Floor and Customer Affairs counters for investors as of Tuesday, July 7, 2020, with the strict implementation of precautionary measures for the safety of clients and employees.
Dubai’s ease of doing business is expected to improve further following the Dubai Chamber of Commerce and Industry’s announcement that it is cooperating with the Dubai Airport Freezone Authority (Dafza) to connect the digital services of both organisations.
India’s major automobile players reported a sequential uptrend in June, as the rate of sales de-growth decelerated. According to analysts, two-wheelers and tractors off-take on a sequential basis in June showed narrowing of the de-growth rate.