LONDON: Oilfield services company Hunting Plc warned operating profit may slide by up to 75 percent this year as weak oil prices lead to ongoing cuts in oil drilling, although there were some signs th
SEOUL: Refiners in South Korea, the world’s fifth-largest crude oil importer, have stepped up spot purchases this year, buying at prices depressed by an oil glut as they run their plants at high rates
LONDON: BP Plc has reached a comprehensive $18.7 billion settlement with the US government and five states, a landmark deal that effectively ends years of litigation over environmental damage and huma
RIYADH: “Philanthropy is a personal responsibility, which I embarked upon more than three decades ago and is an intrinsic part of my Islamic faith,” says Prince Alwaleed bin Talal, chairman of Kingdom
LONDON: Benchmark crude oil prices have barely moved for more than two months, implying the market has found a temporary equilibrium after the enormous price shock in the second half of 2014 and early
NEW YORK: Oil prices rose slightly after tame US jobs and economic data signalled the Federal Reserve might be less hasty to raise interest rates and as a surge in gasoline futures drove expectations
ABU DHABI: The UAE, seeking to bolster state revenues, is likely to complete the drafting of laws introducing corporate tax and value-added tax in the third quarter of this year, a senior Ministry of
JEDDAH: Saudi Arabia’s economy accelerated in the first quarter of 2015, showing the world’s top oil exporter can cope with low energy prices, but growth may slow as the government faces pressure to r
JEDDAH: The Saudi stock index rose 0.4 percent on Thursday. PetroRabigh climbed 2.2 percent after saying it would pay a cash dividend of SR0.5 per share for 2014.
ATHENS: Greece’s dive into financial uncertainty is forcing struggling businesses to take unusual steps to survive, including hoarding euros in cash.
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