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Oil gains after Saudi price hike indicating confidence in the demand outlook

  • RIYADH: Oil prices rose after top exporter Saudi Arabia raised prices for its crude sold to Asia and the US, shrugging off worries around the omicron variant and suggesting confidence in the demand outlook.  Bloomberg reported that oil giant, Saudi Aramco, raised its key Arab Light ...

Morocco plans $220m package to help COVID-hit tourism sector

  • RABAT: Morocco will provide 2 billion dirhams ($220 million) in aid to help tourism businesses and workers cope with COVID-19 restrictions, the tourism ministry said on Tuesday. Morocco has kept its borders shut since last November and reinforced its vaccine pass requirements in response to t...

IMF cuts growth forecasts for world economies including US, China as omicron spreads: Reuters

  • The International Monetary Fund lowered its economic forecasts for the United States, China and the global economy on Tuesday, and said uncertainty about the pandemic, inflation, supply disruptions and US monetary tightening posed further risks, reported Reuters. “We project global growth thi...

Tesla starts China sales of two new Model 3 variants

  • BEIJING: US electric vehicle maker Tesla Inc. said on Friday it has started China sales of two more Model 3 variants built at its Shanghai plant, meaning all Model 3 sedans sold in the country are now locally made and not subject to import tax. The development comes at the tail end of a Sino-...

Kleenex brings out new designs

  • Kleenex, a global pioneer in tissue manufacturing and widely-acknowledged for its soft tissues since 1923, has launched a range of new designs for its tissue boxes across the GCC....

Hyundai unveils ‘most powerful’ 2021 Sonata N Line

  • Hyundai Motor Company has unveiled more details about the 2021 Sonata N Line, a new model that is expected to inject excitement into the midsize sedan segment. The Sonata N Line provides an attractive entry point to Hyundai’s high-performance N Brand, distinguished by N Line-specific design a...

MYNM welcomes new MINI Hatch & Convertible

  • Mohamed Yousuf Naghi Motors (MYNM) Company, the official BMW Group importer in Saudi Arabia, has announced the arrival of the new MINI three-door and five-door Hatch and the MINI Convertible.  The original models in the small car premium segment are moving to the next stage of their evol...

BMW, Mercedes standardize cars to help buyers and boost margins

  • PARIS: Premium carmakers Mercedes-Benz and BMW are aiming to sell more standardized cars and services to boost profit margins and simplify the complex list of options for buyers — while also given them the choice of a bespoke car if they want.The move is partly aimed at attracting customers who...

Airbus hopes to deliver up to 80 A350 aircraft in 2017

  • PARIS: Airbus tentatively aims to deliver as many as 80 A350 jetliners in 2017, two people familiar with the plans said.The target marks a new stage in ambitious plans to raise output of the company’s newest long-haul jet to 10 a month in 2018, but depends mainly on how successful suppliers will...

Stocks stage small ‘Santa rally,’ Brexit deal hopes lift pound

  • LONDON: Stocks rose on Wednesday as a last-minute intervention by US President Donald Trump over pandemic relief plans failed to wipe out positive sentiment, while the pound gained on the possibility of a Brexit trade deal. In a video posted on Twitter, Trump said a stimulus bill, agreed...