Author: Steven Sahiounie

MOSCOW, May 3. /TASS/. Russia’s stock market closed mixed on Friday as the MOEX Index slipped by 0.03% to 3,441.77 points, while the dollar-denominated RTS Index added 0.57% to 1,184.68 points.

MOSCOW, May 3. /TASS/. The Board of Directors of Rusal intends to discuss the payment of final dividends for 2023 at a meeting that will take place on May 16, the Russian aluminum producer said in a statement posted on the Hong Kong Stock Exchange.

MOSCOW, May 3. /TASS/. The price of futures contracts of Brent crude oil for July delivery has dropped below $83 per barrel on London’s ICE for the first time since March 13, according to trading data.

Elon Musk’s carmaker Tesla has sued an Indian battery maker for infringing its trademark by using the brand name “Tesla Power” to promote its products, seeking damages and a permanent injunction against the company from a New Delhi judge.

NEOM: The Saudi Red Sea Authority and NEOM signed a memorandum of understanding on Friday to cooperate on developing legislation, regulations, and technology in marine tourism, reported the Saudi Press Agency.

RIYADH: Startups in Saudi Arabia saw massive growth during the last decade raking in $3.3 billion in venture capital funding, according to a report issued by MAGNiTT.

RIYADH: The materials sector led trading on Saudi Arabia’s Tadawul All Share Index, accounting for approximately SR87 billion ($23.2 billion) or 15.11 percent of the market, according to TASI’s 2024 first-quarter report.

Of the amount, $50mln will be dedicated to supporting small and medium-sized enterprises Riyadh: The Islamic Development Bank (IsDB) and Tunisia signed a financing agreement worth $60 million. Of the amount, $50 million will be dedicated to supporting small and medium-sized enterprises (SMEs), while the remaining $10 million will be provided as a grant in collaboration with the United Nations Development Program (UNDP) for the same purpose.The financing agreement was signed at the bank’s annual meetings in Riyadh by Tunisian Minister of Economy and Planning Feryel Ouerghi Sebai and IsDB Chairman Dr. Mohammed bin Sulaiman Al-Jasser. Source: Zawya

LONDON – Oil prices edged higher on Friday, but headed for their steepest weekly loss in three months as uncertainty about demand and high interest rates drove a sell-off limited by the prospect OPEC+ will continue to curb output.

The tightening of petroleum supplies and depletion of inventories widely anticipated at the start of the year has failed to materialise so far