Last year, eBay Inc. According to the binding agreement, BlackRock Real Assets, together with Mubadala, will invest $525 million via compulsorily convertible instruments for a 10.53 percent stake in the company, translating to a base equity valuation of $4.46 billion, according to a statement released by Mubadala. This newly created platform will consist of five […]
NFTs are ownership certificates of a unique digital item such as a video, recording, or cyber artwork. In a statement, Shell said Wednesday’s auction represented “another milestone” in its focus on Brazil, a country that accounts for about 13 percent of its global oil and gas production. BOSTON: Multiple US government agencies issued a joint […]
Work on the Red Sea Project is progressing steadily, and the first guests are expected to be welcomed by the end of 2022. Upon completion in 2030, the Red Sea Project is expected to house 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland […]
Thousands of cryptocurrency enthusiasts will be attending the Bitcoin 2022 conference in Miami from Wednesday to Friday. Last year, cryptocurrency exchange FTX acquired the naming rights for the NBA arena in downtown Miami, replacing American Airlines. Work on the Red Sea Project is progressing steadily, and the first guests are expected to be welcomed by […]
“In the coming weeks, we’ll continue to run further tests and gather the necessary data. I’m really looking forward to showing it in public for the first time, which we’ll be announcing more on shortly,” the E1 CEO, Rodi Basso, said. Earlier in the year, Riyadh-based SABIC posted a massive increase in annual profit of […]
NEW YORK, LONDON: Oil futures fell sharply on Wednesday following a surprising rise in US crude stocks and after large consuming nations said they would release oil from reserves in conjunction with the United States to counter tightening supply. That US 60 million commitment is part of Washington’s previously announced plans to release a million […]
is suspending all business operations in Russia, effective immediately, the US chipmaker said on Tuesday, adding that it has implemented business continuity measures to minimize disruption to its global operations. Core inflation, which excludes volatile food and energy costs, also jumped 2.9 percent from a year earlier, staying at the rate seen in February. This […]
Oil prices were also buoyed up by the US Energy Information Administration weekly data that showed another US crude stock drawdown last week. However, pressure on prices putting cap is now wobbly with inflation squeezing consumers and the coronavirus disease hitting demand and supply chains in China. Another crucial influencer is the Biden administration’s decision […]
During a summit session titled “Meeting the 2022 challenge: Will energy security derail the energy transition?” organized as part of the Atlantic Council Global Energy Forum, the panel discussed ways in which countries can shift their energy priorities to meet these challenges. Running until March 30, the GEC focuses on making it easier for entrepreneurs […]
So, Brent crude fell below $100 a barrel on Tuesday , a week after reaching a 14-year high of $130, and WTI crude dropped to $96.4 a barrel, the lowest closing level since February 28. The decline in oil prices was also supported by news that the US is considering the option of lifting sanctions […]
The company reported a decline in profit during the nine months ending Dec. With the new facility, Farrukh is optimistic about the company capturing more market share in the Kingdom. “Based on the experience that we have seen from Alphabet’s Waymo in Arizona, the revenue that you will generate from that deployment will be very, […]
“Now it’s the year of delivery. “Our plans include building further specialist steel, aluminum and composite vessels. A key provider of maritime defense and security capabilities in the Kingdom, Zamil participated at the WDS to showcase its 32-meter high-speed interceptor for the RSNF. The first one is a strategic partnership with UK-based global manufacturer Ribcraft […]
The price of Bitcoin, the most traded cryptocurrency, has fallen from its November highs of nearly $70,000 to around $35,000. Policymakers have faced a very complex task in simultaneously improving public health, restoring normal economic and social interaction, and respecting individual freedom. Inflation is a supplement to the decline in employment and production, it reduces the […]
The weekly Meradia market has been attracting city dwellers to the Rampura area for over a century. Ibrahim Mollah has been selling fruits in the market for the past 16 years. “I am a man from a blacksmith family, and I learnt this craftsmanship from my father who also used to sell our goods in […]
Historically, crude oil prices have not only reached but have also exceeded the $100 a barrel benchmark twice before, as unbalanced market fundamentals left the market in search of equilibrium price while dealing with a low stock of crude oil. …Read the full story
Oil prices ended with their first weekly decline in nine weeks, although the uncertainty surrounding Russia and Ukraine may change that. In parallel, news emerged that Asian refineries are in cautious talks with Iran to resume oil imports if a deal is reached. This value corresponds to about 0.9 percent of global demand and may […]
The specter of a Russian invasion of Ukraine and the possible sanctions on Moscow are pushing crude prices up. The market seems to be in a panic mode as it would be difficult to make up for the missing Russian barrels in the case of sanctions. This is the supply scenario. At its peak, the […]
Less than a week later, Reliance announced plans to become one of the world’s biggest producers of blue hydrogen. With so many countries vying for leadership of the clean hydrogen space, it is heating up to be a highly competitive market. In the Middle East, Abu Dhabi is aiming for a 25 percent share of […]
The National Federation for Independent Business, a trade group, said it found in a monthly survey that 61 percent of small companies increased their prices in January, the largest proportion since 1974 and up from just 15 percent before the pandemic. In December, economists at the University of Pennsylvania’s Wharton Business School estimated that the […]
and IEA head Fatih Birol will join some 26,000 petroleum industry figures, global CEOs and government representatives who will descend on Egypt for an international conference from Feb. …Read the full story