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Hyundai launches ‘futuristic’ multipurpose vehicle Staria in MEA

  • Hyundai Motor Company officially launched Staria, the brand’s new multipurpose vehicle lineup, in the Middle East and Africa markets via a digital premiere. The Staria name combines “star” and “ria,” in reference to the vehicle’s future-oriented product values and streamlined design character...

OPEC+ meets under pressure from Biden and omicron

  • OPEC+ oil producers meet Thursday under pressure from US President Joe Biden, who has opened up his country’s taps hoping to bring down crude prices, and a new COVID-19 variant that has complicated the equation. The meeting “is shaping up to be one of the most significant since the pandemic d...

OPEC+ starts two days of talks amid oil price gyrations, Omicron fears

  • OPEC and its allies begin two days of meetings on Wednesday to decide whether to release more oil into the market or restrain supply amid big gyrations in crude prices and uncertainty about the impact of the Omicron coronavirus variant on energy demand. Oil prices fell to near $70 a barrel ...

US oil pares gains after weekly fuel stockpiles jump

  • DUBAI: West Texas Intermediate (WTI) crude oil futures slipped on Wednesday, reversing course from early gains after a US official said the country was still considering tools to lower energy prices, and as government data pointed to weaker gasoline demand. Also pressuring oil prices, a new co...

Bank of England hawk mulling pause on interest rate hike vote due to omicron: Reuters

  • LONDON: Bank of England policymaker Michael Saunders, who voted for an interest rate hike last month, said on Friday he wanted more information about the impact of the new omicron coronavirus variant before deciding how to vote this month. Saunders said omicron might slow Britain’s economy bu...

Oil steadies as investors assess omicron’s impact

  • NEW YORK: Oil prices edged lower in choppy trade on Wednesday, taking a breather after gains earlier this week, as investors assessed the impact of the omicron coronavirus variant on the global economy. The market had a muted reaction to US weekly inventory figures, which showed a smaller-tha...

Global stocks end 2021 with losses after a strong year

  • NEW YORK: Global stock markets closed lower on Friday, the final trading session of 2021. The year saw strong overall gains as economies recovered despite ongoing restrictions caused by the coronavirus pandemic. On Wall Street, the broad-based S&P 500 had its best December in over a ...

Oil rises 1% as OPEC+ agrees to planned output increase

  • LONDON: Oil prices rose 1 percent on Tuesday as OPEC+ producers agreed to stick with their planned increase for February based on indications that the omicron coronavirus variant would have only a mild impact on demand. Brent crude was up 79 cents, or 1.1 percent, at $79.80 a barrel by 1...

Xiaomi’s Redmi 10 series caters to digitally savvy Saudis

  • Smartphone company Xiaomi has responded to the digital transformation of the Kingdom by launching its most technologically advanced line of phones to date.  The Xiaomi Redmi 10 series — featuring the Redmi 10 2022, Redmi 10A, and Redmi 10C smartphones — has been specifically designed to ...

Tesla to raise vehicle prices by about 3% on average worldwide

  • BENGALURU: Electric carmaker Tesla said on Sunday it will raise vehicle prices by about 3 percent on average worldwide as it plans to keep more retail stores open. Tesla said the current prices are valid until March 18 and the price hikes will only apply to the more expensive variants of Model...