Author: Steven Sahiounie

SINGAPORE: Oil prices were little changed on Tuesday after rising in the previous session helped by expectations of increased fuel demand this summer, but investors were cautious ahead of US consumer price data, according to Reuters. Brent futures for August settlement eased 5 cents to $85.96 a barrel as of 8:40 a.m. Saudi time after gaining 0.9 percent on Monday, while US crude futures were down 3 cents at $81.60 a barrel after climbing 1.1 percent a day earlier. Both benchmarks rose about 3 percent last week, marking two straight weeks of gains. Gasoline demand is rising and oil and fuel stockpiles…

PARIS: Airbus softened key industrial and financial targets and took a hefty €900-million ($965 million) charge for its troubled space activities as Europe’s largest aerospace group sought a clean slate approach to supply disruptions and commercial risks, according to Reuters.

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 33.73 points, or 0.29 percent, to close at 11,730.77.

RIYADH: Saudi Arabia has completed its riyal-denominated sukuk issuance for June at SR4.4 billion ($1.17 billion), according to the National Debt Management Center.

RIYADH: The Gulf region’s luxury sector is growing twice as fast as the global industry, reaching $12.5 billion in 2023, driven by strong macroeconomics and flourishing tourism, a new report revealed. According to the findings by luxury goods retailer and distributor Chalhoub Group, further growth is anticipated, bolstered by projected robust economic reforms set to enhance the market due to high consumer confidence. In its analysis of the Gulf Cooperation Council luxury retail market, the group noted a positive outlook on the regional economy, reflected in consumers’ personal finances, with 93 percent of respondents claiming to be doing well financially. Jasmina Banda,…

RIYADH: Bahrain’s national bank appointed Goldman Sachs as a financial adviser for its negotiation with top banking institutions regarding a potential merger deal between the two, a disclosure showed.

RIYADH: Saudi Arabia has garnered strong interest from British investors in its renewable energy sector and sustainable infrastructure, aligning with its Vision 2030 for green initiatives in environmental projects. 

RIYADH: Multinational professional services firm EY has chosen to locate its regional headquarters in Riyadh, joining a growing list of international companies in the city. 

RIYADH: “Drastic and coordinated actions” are needed to reduce the global reliance on fossil fuels, a climate think tank leader has warned after a new analysis showed oil and coal consumption are at record levels.

RIYADH: Bond offerings in Saudi Arabia are set to expand with increased activity, highlighting significant growth opportunities in the Kingdom’s financial sector, according to the investment minister.