Saudi Arabia steeply cut its January oil prices for Asian and US buyers yesterday, a move some analysts said showed it was stepping up a battle for market share a week after refusing to support Opec output cuts.
Official Selling P
Brent crude oil rose to near $81 a barrel on Friday after China cut interest rates and on speculation that Opec could agree next week to reduce oil production.
China's central bank cut its benchmark interest rates for the firs
Struggling gold producers plan increasingly drastic measures such as scrapping dividends, cutting jobs, halting projects and shutting mines to survive the latest price plunge, but not all of them will make it.
Gold tumbled to a mo
Indian Prime Minister Narendra Modi has pledged to slash red tape and harness the benefits of a huge young population as he launched a campaign to attract global business to manufacture in the sub-continent.
Bahrain has registered an 85 per cent drop in the average duration of power cuts this year, the lowest number of blackouts ever in Bahrain's history, said Minister of State for Electricity and Water Affairs Dr Abdulhussain Mirza.
Bahrain’s national airline Gulf Air has claimed that it has cut year-on-year losses by nearly a third and increased overall revenue by 10 per cent in the first half this year.
However, the airline declined to provide figures
Malaysia Airlines , the country's loss-making flag carrier, will cut 30 per cent of its workforce as part of a sweeping restructuring that will cost six billion ringgit ($1.9 billion), majority investor Khazanah Nasional said.
Bahrain has planned to slash public debt and boost state revenues to bolster development. The government's financial policies took centre stage as the Cabinet convened for its weekly meeting yesterday (August 24).
A breakthrough in green automotive engineering allowing motorists to cruise for a third of every journey without using fuel, will soon become as common in cars on Middle East roads, said an industry expert.