Economy

Riyadh Gov. Prince Khaled bin Bandar has stated that the private sector (PS) is an effective partner in development as a key pillar of the national economy, representing 95 percent of the size of the...
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Reliance Q4 sales rise, refining margin narrows

MUMBAI: Indian energy company Reliance Industries Ltd. posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oil refining business offset higher revenue.



PetroChina hikes shale gas spending to more than $1.6bn

BEIJING: Chinese state energy giant PetroChina plans to spend more than 10 billion yuan ($1.6 billion) on shale gas this year, sources with knowledge of the matter said, as domestic competition heats



Mubadala: Performance of investments underpins earnings growth

DUBAI: Mubadala, the Abu Dhabi state-owned investment fund with a mandate to develop the emirate’s economy, said its 2013 net profit tripled as soaring stock markets boosted the value of its financi



Total strikes oil for second time offshore Ivory Coast

PARIS/ABIDJAN: France’s Total said it had discovered oil in a deep offshore area in the west of Ivory Coast, the company’s second oil find in a year in the West African country.



Oil exports rise to 1.2m barrels per day in Iran

TEHRAN: Iran’s crude oil exports have hit 1.2 million barrels per day, almost doubling from eight months ago when the country elected a new president, a top government official said.



Suez Canal March revenues rise 8.5%

CAIRO: Revenue from Egypt’s Suez Canal rose 8.5 percent to $441.9 million in March from $407.4 million in the same month a year ago, Egypt’s state information portal said.




Shell CEO meets Putin in bid to expand Russian projects

MOSCOW: The chief executive of Anglo-Dutch energy giant Royal Dutch Shell Ben van Beurden met President Vladimir Putin at his private residence, telling the Russian strongman that the company wanted t



Taiwanese auto company to compete in the UAE market

Luxgen, Taiwan’s premium automotive brand, has arrived in the UAE with its range which includes SUV and MPV, offering top technological features.



Europe car sales rise for seventh straight month

PARIS: European car sales advanced a seventh consecutive month as new models to replace aging vehicles and an economic rebound in Britain boosted demand at Renault, Ford and Peugeot Citroen.

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