#Asia

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

Saudis raise crude price to Asia as vaccines buoy oil market

Aramco also increased pricing for light crude grades to the Mediterranean region

Radisson hotel group launches new brand; signs 10 new hotels across EMEA in Q3 2020

The new signings build on the 15 hotel signings which were announced in Q2 2020

Saudis raise oil prices for Asia in sign of market strength

The Organization of Petroleum Exporting Countries and allies including Russia are to meet on November 30-December 1 to review policy on production

Oil holds losses near $40 amid deteriorating demand outlook

Prices jumped 10 per cent last week after Saudi Arabia indicated it would defend the market

Dubai’s Emirates NBD lists $750m bond on Nasdaq Dubai

The perpetual bond is callable after six years and pays a coupon of 6.125 per cent

saudi arabia riyadh

Saudis cut July oil supply to some Asian buyers by up to 40%

The cuts were widespread across the region from South Asia and Southeast Asia to some parts of North Asia

Saudis make biggest oil price hike in 20 years after OPEC+ cuts

Brent crude, down 36 per cent this year, has clawed back some of its losses and ended trading on Friday at more than $40 a barrel