Browsing: Economy

Türkiye has become the largest importer of Russian energy in the Western Hemisphere after European countries halted most Russian oil and natural gas imports, Reuters reported this week.

Russia has been added to Germany’s list of “non-cooperative jurisdictions for tax purposes,” according to an announcement published in the Bundesanzeiger (Federal Gazette) earlier this week.

Restrictions on the Arctic LNG 2 energy project endanger vital fuel supplies, according to Chinese energy majors

Oil prices rose as much as 1 percent on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, according to Reuters.

Qatar’s Industrial Production Index experienced an uptick in the third quarter of 2023 to reach 105.08 points, marking a 1.7 percent increase from the previous quarter, according to official data.   

The total trading turnover of the benchmark index was SR5.24 billion ($1.39 billion) as 63 of the listed stocks advanced, while 154 retreated. 

During the visit, Bandar Alkhorayef emphasized attracting investments to contribute to the Saudi industrial and mineral sectors. 

Shares in Raiffeisen Bank International (RBI) rallied around 12% on Wednesday shortly after the banking group announced plans for its Russian unit to purchase a stake in Austrian construction giant, Strabag.

Finance Minister Anton Siluanov has warned that Moscow will respond in kind if the European Union decides to utilize profits generated from frozen Russian assets.

Shipping companies have redirected about $35 billion worth of cargo away from the Red Sea amid the risk of attacks from Houthi militants in Yemen, CNBC reported this week.