#Russia

Global debt tops $313tn in 2023, says IIF

Global debt hits new record high at $313tn in 2023, says IIF

India, Argentina, China, Russia, Malaysia and South Africa registered the largest increases, signalling potential growing challenges in debt repayments

red sea

Russian oil flows through Red Sea still face lower risks

Recently, four tankers carrying Russian Urals crude passed through the Bab-el-Mandab strait with another three heading south through the Red Sea

BRICS SUMMIT-SOUTH AFRICA

Russia’s Vladimir Putin officially welcomes UAE, Saudi into BRICS

Two GCC nations, the United Arab Emirates and Saudi Arabia, are now formally part of the BRICS bloc

President Putin in rare foreign visit to UAE, Saudi Arabia

President Putin visits UAE and Saudi Arabia, to meet Crown Prince Mohammed bin Salman

The Russian President is due to hold talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan and Saudi Arabia’s Crown Prince Mohammed bin Salman

oil

OPEC+ panel holds oil policy steady as Saudi Arabia, Russia keep cuts

Saudi Arabia, Russia will continue with their respective production cuts in a bid to “balance the global oil market”

oil price

Saudi Arabia, Russia extend oil cuts until December, crude jumps to highest level in 2023

Oil prices rose above $90 a barrel for the first time in 2023 on the back of the announcements made by Saudi Arabia and Russia

oil imports

India’s crude oil imports from Saudi Arabia surges

The world’s third largest oil importer has increased its purchase of oil from Saudi Arabia

BRICS SUMMIT-SOUTH AFRICA

UAE, Saudi Arabia to join BRICS; President Sheikh Mohamed welcomes membership

The BRICS grouping has announced an expansion in its ranks with six new members, including UAE, Saudi Arabia, Ethiopia and Egypt

Crude oil market on tenterhooks over OPEC meet. Image credit: Getty Images

Oil watchers predict OPEC+ to maintain steady supply

Forecasters predict OPEC+ to keep output steady due to demand in China, and the current curbs, should rapidly deplete world inventories

Samara

Air Arabia launches new route to Samara in Russia

The airline will operate three flights weekly, starting from October 1, 2023

Oil

Oil extends steep weekly drop with demand outlook in question

West Texas Intermediate fell toward $77 a barrel after dropping the most since the banking crisis in March last week

Flydubai to launch daily flights to St Petersburg

Flydubai to launch daily flights to St Petersburg

The carrier has grown its network to 114 destinations

Air Arabia

Air Arabia launches flights to three cities in Russia

Air Arabia operates the Airbus A320 and A321 neo-LR aircraft

UAE President Sheikh Mohamed arrives in Russia, meets Vladimir Putin

The two leaders reviewed a number of regional and international issues, and developments of common concern

GCC unified visa

These are the world’s most and least powerful passports in 2022

As recently as 2017, Asian countries barely featured among the world’s 10 most-accepted passports

Stocks

Big tech sinks stocks as clock ticks on earnings

All major groups in the S&P 500 retreated with losses in megacaps like Tesla and Apple weighing heavily on trading

Oil powers to sixth monthly gain as EU set to curb Russian flows

Global benchmark Brent topped $122 a barrel, hitting a two-month high

Oil

Oil steadies after four-day surge as US product markets run hot

Oil has rallied by more than 50 per cent this year in extremely volatile trading

Oil extends decline as Europe softens some Russian sanctions

West Texas Intermediate futures fell below $103 a barrel in early Asian trading

Oil edges lower as market tightness eases, pipeline restarts

Oil extends advance above $100 as Ukraine crisis continues

US crude output will grow at a slower pace than previously expected

Oil retreats as US weighs reserves release to combat inflation

West Texas Intermediate futures slid 5 per cent to trade near $102 a barrel, trimming a monthly advance

OPEC+ still sees no need to change plan despite Ukraine crisis

Brent futures briefly surged to a 13-year peak near $139 a barrel earlier this month

Gold near 19-month high amid Ukraine crisis

Bullion has gained 12 per cent this year

Wheat soars to record, surpassing high during global food crisis

The elevated prices are triggering concerns about growing food insecurity

Ukraine

Ukraine: UAE sends 30 tonnes of emergency medical and relief aid

The aircraft landed in Lublin and the aid was handed over to the Ukrainian authorities in Poland to be further transported to Ukraine

Commodities rack up more stunning gains as supply fears deepen

Brent crude surged as much as 18 per cent after opening on Monday

Sheikh Mohamed bin Zayed Al Nahyan has ordered the completion of all housing grant applications submitted in previous years through the Sheikh Zayed Housing Programme, at a total cost of around Dhs2.3b

Sheikh Mohamed discusses Ukraine, energy market stability in call with Vladimir Putin

Sheikh Mohamed stressed the need for a peaceful solution to the Ukraine crisis in a way that maintains the interests and national security of all parties

Dubai Airport

Dubai’s Emirates suspends partner airline flights to select cities in Russia, Ukraine and Belarus

Emirates said that the decision was made due to the closure of airspace over certain areas

Oil soars past $100 as Russia attacks targets across Ukraine

OPEC+ meets on March 2 to decide on output for April

Brent oil hits $100 a barrel for the first time since 2014

Russia is a key supplier of energy to global customers