– Bank of America logo – image from Reuters archive. — DUBAI (Reuters) – Dubai may see a recession of about 5.5 percent in 2020 as it faces debt maturities of about $ 10 billion this year, while revenues are expected to decline along the lines of the 2009 crisis, the Bank of America said … Read more
(To distinguish the share and coin value for the Disney and Bank of America deals in the third paragraph) DUBAI (Reuters) – A disclosure to the US Securities and Exchange Commission showed that the Saudi public investment fund, the kingdom’s sovereign wealth fund, bought minority stakes in major US companies including Boeing, Facebook and Citigroup. … Read more
DUBAI (Reuters) – Saudi Aramco is seeking to restructure a purchase of a controlling stake in the Saudi Basic Industries Corporation (SABIC) after the latter’s value fell more than 40 percent after a collapse in oil prices and the Corona virus pandemic, two sources told Reuters. – Saudi Aramco logo – Image from Reuters archive. … Read more
– An oil rig in Texas, in the image from the Reuters archive. — LONDON (Reuters) – Oil prices fell more than 6 percent on Thursday after US President Donald Trump suddenly announced restrictions on flights from Europe to try to stem the spread of the Corona virus after the World Health Organization described the … Read more
DUBAI / MOSCOW (Reuters) – Saudi Arabia announced on Tuesday that it would increase crude supplies to a record high in April, escalating a standoff with Moscow over market share and appeared to reject Russian overtures to fresh talks. – Amin Al-Nasser, CEO of Saudi Aramco, in Dhahran on November 3, 2019. Photo: Hamad Muhammad … Read more
– Russian Rosneft logo in image from Reuters archive. — MOSCOW (Reuters) – Russia’s oil giant Rosneft said on Sunday that the agreement between the Organization of Petroleum Exporting Countries (OPEC) and other producers to reduce oil production did not serve Russia’s interests as the United States moved quickly to make up for lost quantities … Read more
SINGAPORE (Reuters) – Asian oil traders are preparing for another round of big price declines on Monday for Brent crude and Dubai’s major crude after Saudi Arabia, the world’s largest exporter, slashed prices to reignite the market share battle between big producers. – An oil platform in the Caspian Sea. Image from Reuters archive — … Read more
– US President Donald Trump in Washington on October 11, 2019. Photo: Yuri Gripas – Reuters. — (Reuters) – US President Donald Trump said on Monday he would immediately re-impose tariffs on US steel and aluminum imports from Brazil and Argentina, which prompted at least one of his counterparts to pledge to talk to him. … Read more
(Reuters) – A surge in gold prices stopped on Tuesday as the dollar’s rise overshadowed growing concerns about a new Corona virus that has fueled demand for safe-haven assets. – A gold ingot in the Dubai Gold Market in a photo from Reuters archive. — By 0456 GMT, spot gold fell 0.1 percent to $ … Read more
– Argentine President Alberto Fernandez following his inauguration ceremony in Buenos Aires on December 10, 2019. Photo: Ricardo Morais-Reuters. — BUENOS AIRES (Reuters) – Argentina’s consumer prices rose 53.8 percent in 2019, the biggest increase in 28 years and a significant challenge to the management of new president Alberto Fernandez in Latin America’s third largest … Read more