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Oil crisis: Prices decline again after Saudi Arabia refuses to cut production
February 19th, 2016
Oil prices declined after Saudi Arabia’s foreign minister Adel al-Jubeir said that his country will not cut production. The statement made on 18 February is contrary to what Saudi Arabia had agreed to at the recent emergency meeting in ...
Plus500 reports Preliminary Unaudited Results for 2015
February 17th, 2016
Preliminary Unaudited Results for the year ended 31 December 2015 Plus500, a leading international online trading platform provider for retail customers to trade CFDs, announces its preliminary unaudited results for the year ended 31 December 2015. Financial Highlights: Strong revenue growth due to ...
Iran ready to discuss oil with Saudis
February 10th, 2016
Iran’s Oil Minister Bijan Zangeneh said on Tuesday that Iran is ready to negotiate with Saudi Arabia over the current conditions in international oil markets. “We support any form of dialogue and cooperation with OPEC member states including Saudi ...
No Agreement on OPEC Meeting After Venezuela Meets With Saudi Arabia
February 9th, 2016
The prospects for an emergency OPEC meeting to initiate coordinated production cuts took a hit this weekend. Venezuela’s oil minister Eulogio del Pino flew to Riyadh to meet with Saudi officials, which followed a recent trip to Moscow to ...
Saudi economy is resilient, says World Bank expert
February 8th, 2016
Saudi Arabia has five years’ worth of reserves at current spending levels and oil prices, Shantayanan Devarajan, chief economist of the World Bank’s Middle East and North Africa Region said in an interview with Tass. “The fact is that ...
Oil Trades Near $31 After Saudi-Venezuela Talks as Bets Increase
February 8th, 2016
Al-Naimi speaks with counterpart about other producer meetings Vitol CEO says crude to stay between $40 and $60 for 10 years Oil traded near $31 a barrel after Saudi Arabia and Venezuela met to discuss cooperating to stabilize the ...
Russia is now China’s biggest oil partner — and it’s a huge problem for Saudi Arabia
February 4th, 2016
Saudi Arabia has long trumped Russia in the Chinese oil market. The Saudi share of Chinese crude imports at the beginning of the decade was about 20%, while Russia’s was below 7%, according to data cited by RBC Capital ...
Lower oil prices hit UAE and Saudi Arabia economies, latest PMI survey shows
February 4th, 2016
The economies of the UAE and Saudi Arabia slowed further last month, according to monthly trackers of business activity published yesterday, as falling oil prices and a stumbling global economy hit the region. The UAE purchasing managers’ index, which ...
Saudi Arabia struggles to cope with cheap oil
February 1st, 2016
Saudi Arabia has managed to buy itself a couple of months. The global rout of oil prices is taking its toll on the kingdom’s bottom line. The country has been forced to cut government spending in its upcoming budget ...
Toshiba replaced EY with a new auditor
January 28th, 2016
Toshiba picks PwC as auditor after accounting scandal Toshiba Corp said on Wednesday it had chosen PricewaterhouseCoopers Aarata as its auditor from the business year starting April 1, replacing Ernst & Young’s local affiliate after a debilitating accounting scandal ...
