Vehicles drive past the King Abdullah Financial District in Riyadh, Saudi Arabia. Reuters
The world’s largest oil exporter is facing a deep recession after the COVID-19 pandemic curbed global crude demand and measures to contain the coronavirus hurt domestic activity.
Profits in Russia’s banking sector rose to 70 billion roubles ($975 million) in June from just 500 million roubles in May, which included some weeks of lockdown due to the coronavirus pandemic, the central bank said in a report on Friday.
The Russian Central Bank plans to resume its purchases of foreign currency for state reserves that are pegged to oil prices in 2022, after pausing them this year amid the rouble crash, Governor Elvira Nabiullina said.
Most emerging market (EM) currencies made small moves on Monday as surging number of coronavirus cases kept risk appetite muted ahead of a slew of emerging market central bank meetings this week, with focus also on a European recovery fund plan.
Featuring a rich exhibition programme that covers energy-related technology, innovation, collaboration, and digitalisation, ADIPEC 2023 is expected to attract over 160,000 attendees from 164 countries for its biggest edition ever.
IBMC, the UAE-based financial services consultancy and eMarket Place Trade Flow Service Providers, has launched an innovative Integrated International Trade-Flow System,
The UAE’s aviation sector registered a record growth in terms of air traffic and passenger numbers through the country’s airports.