UAE healthcare firm Burjeel Holdings plans listing on Oct 10

Register now for FREE unlimited access to Register DUBAI, Sept 26 (Reuters) – Abu Dhabi-based hospital operator Burjeel Holdings plans to sell an 11% stake in an initial public offering that will list its shares on the emirate’s exchange, the company said in a statement on Monday. Burjeel said it plans to offer about … Read more

Saudi leads Gulf bourses lower on recession worries

Bahraini traders are seen at the Bahrain Bourse in Manama, Bahrain, November 4, 2020. REUTERS/Hamad I Mohammed Register now for FREE unlimited access to Register Sept 25 (Reuters) – Saudi Arabia’s stock market tumbled on Sunday, leading declines across the Middle East, in response to Friday’s fall in energy prices and on fears that … Read more

Column: Recession will be necessary to rebalance the oil market

LONDON, Sept 22 (Reuters) – Unused capacity in global oil production has fallen to exceptionally low levels, contributing to the intense upward pressure on prices until very recently. Restoring spare capacity to more comfortable levels will require a business-cycle downturn, which is why a recession or at least a serious slowdown is inevitable. In common … Read more

Oil prices surge more than 2% as Putin mobilizes more troops

Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China August 22, 2019. REUTERS/Stringer Register now for FREE unlimited access to Register SINGAPORE, Sept 21 (Reuters) – Oil jumped more than 2% on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and … Read more

US adds Iran cargo planes flying to Russia to export violation list

Register now for FREE unlimited access to Register WASHINGTON, Sept 19 (Reuters) – The US Commerce Department on Monday said it will add three Iranian cargo planes serving Russia to a list of aircraft believed to violate US export controls under the Biden administration’s sanctions. Using commercially available data, the Commerce Department identified Boeing … Read more

Germany to sign LNG contracts in UAE, German economy minister says

German Chancellor Olaf Scholz addresses the media after Germany placed the German subsidiary of Russian oil giant Rosneft under trusteeship amid the energy crisis following the Russian invasion of Ukraine, in Berlin, Germany, September 16, 2022. REUTERS/Christian Mang Register now for FREE unlimited access to Register BERLIN, Sept 19 (Reuters) – German Chancellor Olaf … Read more

Oil little changed as markets debate fat hikes and supply woes

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, US April 21, 2020. REUTERS/Drone Base Register now for FREE unlimited access to Register Strong dollar weighs as Fed rate decision looms Supply concerns limit decline Easing COVID-19 restrictions in China could lend support HOUSTON, Sept … Read more

UAE indexes extend rally as oil rebounds on growth outlook

Register now for FREE unlimited access to Register Sept 16 (Reuters) – Stock markets in the United Arab Emirates closed higher on Friday as oil prices rebounded on expectations of better demand in the long run, offsetting fears that more interest rate hikes could curb global economic growth. Two of the most closely followed … Read more

Gulf stocks sink as markets brace for more aggressive rate hikes

Register now for FREE unlimited access to Register Sept 14 (Reuters) – Gulf markets tumbled on Wednesday as investors bet on the US Federal Reserve taking a more aggressive policy to tame runaway inflation. Oil, which fuels the region’s growth, was trading on the back foot as more rate hikes in the United States … Read more

Gulf major indexes advance as oil, global markets recover

An investor monitors a screen displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014. Register now for FREE unlimited access to Register Sept 11 (Reuters) – A tentative return of risk appetite to global stock markets and rebound in oil prices at the end of last week helped lift major Gulf … Read more