#Asia

il prices dropped by Saudi Arabia

Saudi Arabia cuts oil prices for main market as demand slows

High-interest rates and a strong dollar have hit demand in the US, Europe and China

Nomura

Nomura to hire bankers in Dubai for Middle East push

The Japanese firm has received in-principle approvals from the Monetary Authority of Singapore and Dubai Financial Services Authority to set up a branch in the Middle East

Emirates A380 returns to Perth

Emirates boss sees unprecedented travel surge once China reopens

Tim Clark said Emirates flights to Asian destinations that have already reopened are essentially full

Investcorp plans major ramp up of India assets to $5bn

The asset manager has been expanding holdings from the US to Asia as it seeks to reach assets of about $100bn

Gold is heading East as a falling price lures Asian buyers

Since peaking in March, gold prices have tumbled 18 per cent as the Federal Reserve’s rate hikes caused mass liquidation by financial investors

Saudi Arabia’s foreign minister and the secretary general of the Digital Cooperation Organization in Riyadh

Digital Cooperation Organization to establish HQ in Riyadh

Saudi Arabia, Bahrain, Cyprus, Djibouti, Kuwait, Morocco, Nigeria, Oman, Pakistan, Jordan and Rwanda are member states of the organisation founded to drive collaboration in digital transformation

Their call comes in a year of record profits for Big Oil as energy prices surged with the world economy reopening from Covid lockdown

Oil steadies as traders fret global slowdown will erode demand

Oil has made a weak start to September, extending a run of three monthly losses

Saudi Arabia raises oil prices for Asia to record levels

State producer Saudi Aramco increased its Arab Light grade for next month’s shipments to Asia to $9.80 a barrel

IPOs

Here are Asia’s biggest IPOs to watch for the second half

Share sales globally plummeted some 70 per cent from a year ago in the first half, to levels not seen in almost two decades

Saudi Arabia raises oil prices for Asia with demand holding up

Saudi Arabia sends more than 60 per cent of its crude exports to Asia

Saudi Arabia

Saudi raises oil prices amid Asia rebound

Saudi Arabia sends more than 60 per cent of its crude exports to Asia, with China, Japan, South Korea and India being the biggest buyers

Dubai

Dubai welcomes 3.97 million overnight visitors in Q1 2022

In the first three months of 2022, hotels across Dubai achieved average occupancy levels of 82 per cent

Saudi Aramco shares hit record as oil demand rebounds

Crude prices have surged around 20 per cent this year

Saudi Arabia cuts oil prices for Asia buyers as OPEC adds supply

On Tuesday OPEC+ decided to increase production in February by 400,000 barrels a day

Oil trades near $80 as global power crisis set to boost demand

Crude has gained more than 60 per cent this year as the roll-out of Covid-19 vaccines lifted movement curbs and, subsequently, oil demand

Fuel prices spike across Asia as global energy crunch takes hold

The electricity crisis is roiling energy markets from Europe to Asia

Brent oil gains with stocks after worst losing streak since 2018

Asia is set to send excess diesel supplies to Europe and possibly to the US as the delta variant dents demand

The era of cheap natural gas ends as prices surge by 1,000%

The appetite for liquefied natural gas is expected to grow by 3.4 per cent a year through 2035, outpacing other fossil fuels

Oil holds decline as investors track delta’s spread across China

West Texas Intermediate was slightly higher after slumping 3.6 per cent on Monday

Mubadala’s GlobalFoundries invests $4bn in Singapore chip plant

GlobalFoundries is prepping a US initial public offering that could value the chipmaker at $30bn

Omani plastics firm Octal weighs $800m sale

The company is working with JPMorgan Chase & Co. as it considers selling a majority stake

Oil extends drop with rally pausing after bouncing off 2018 high

Futures in New York dropped back below $69 a barrel on Tuesday after closing 0.6 per cent lower in the previous session

Dubai’s Aramex appoints Othman Aljeda as CEO

Aljeda replaces Bashar Obeid who submitted his resignation to the board on April 29

Citigroup to exit retail banking in 13 markets, including Bahrain

The move is part of an ongoing review of the company’s strategy by its chief executive officer

Spotify to add 85 new markets with 1 billion people

Spotify is the largest paid music service in the world, and has become the single biggest source of revenue for the recording industry

Brent oil passes $65 with US crisis now a global supply shock

More than 4 million barrels a day of US oil output is now offline

First Abu Dhabi Bank appoints new International Banking head

Clarence Singam-Zhou will begin his new role from March 1, 2021

Qatar wealth fund plans Asia push to diversify from Europe, US

The wealth fund holds stakes in some of the world’s top companies

Oil steady near $50 after surging on Saudi output cut

The kingdom’s pledge comes amid more stay-at-home orders and travel restrictions to rein in a surge of infections

Covid-19 impact: How the pandemic wreaked havoc on airlines in 2020

Even with a vaccine that may bring back air travel around the corner, carriers face a desperate few months