A Conoco gasoline station in St. Louis, Missouri. (Reuters)
Global oil balances will increase in the first quarter of 2015 as oil demand remains subdued but oil supply continues to expand from the US, Russia and Iraq.
JEDDAH: Middle East funds are turning positive on Saudi Arabia’s stock market because of signs that oil prices are starting to stabilize, the latest Reuters survey of asset managers shows.
Saudi Arabia’s benchmark stock index recorded mild losses (-0.38 percent) on Thursday, as investors cashed in on large-cap stocks.
LONDON: New York oil prices tumbled to a near six-year low underneath $44 per barrel on Thursday, as record-high US crude inventories deepened worries over the global supply glut.
DETROIT: Ford Motor Co. said it would keep relying on North America for its profit this year as the No. 2 US automaker signaled that losses in Europe would be more than previously forecast.
Prince Saud bin Abdullah bin Thunayan, chairman of the Royal Commission for Jubail and Yanbu (RCJY), has signed three contracts worth SR520 million to provide essential equipment and develop industria
MANILA: Philippine officials voiced confidence the country had escaped a “boom-bust cycle” as they predicted that economic growth would accelerate in 2015, after expansion last year beat international
SEOUL: South Korea’s LG Electronics said its net profit last year soared 125 percent, boosted by surging sales of its flagship smartphones and television sets.
SEOUL: Samsung Electronics posted its first drop in annual net profit in three years and saw resurgent arch-rival Apple barge in on its pole position as the world’s top smartphone maker.
SAN FRANCISCO: Facebook said that profit soared on the wings of mobile ad revenue but stressed it is more concerned with investing in the future than making quick cash.
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