Oil prices fell on Friday, pulled down by a sell-off following two sessions of strong rises and on caution ahead of a gathering of Opec ministers next week in Algeria to discuss possible production cooperation to rein in global oversupply.
World stocks were headed for their fourth week of gains in five on Friday after a surge in oil prices helped propel Wall Street's three main indexes to co-ordinated record highs for the first time since 1999.
Oil rose after the biggest quarterly gain since 2009 as falling US supply added to speculation the global surplus is easing, said a report.
Futures gained 0.6 per cent in New York, taking its advance for the week to 2 per cent. US
Asian shares made guarded gains as a gathering of world finance leaders provided a welter of reassuring comments, but little in the way of actual policy stimulus.
Setting the tone for the Shangahi meeting of th
Asian shares were set to hold on to this week's gains, while the dollar took a breather on Friday after stepping back from seven-month highs as investors grappled with the prospects of higher US borrowing costs and slower global economic g
Asian shares hit a two-month high on Friday, catching some of Wall Street's shine after upbeat US price and jobless claims data calmed some concerns about the strength of the US economy.
Bahrain-based Venture Capital Bank (VCBank) has reported a net profit of $14.1 million for the year ended June 30 this year as against $14.6 million for the previous year and a return on net paid-up capital of 7.8 per cent. In a statement issu
Crude oil futures rose on Friday, adding to their biggest one-day rally in over six years the day before, led by recovering equity markets and news of diminished crude supplies.
US crude are on track for their
Bahrain-based shipyard Asry, which netted revenues of $161 million from the repair of 193 vessels last year, is confident of efficiency-driven gains this year, despite challenging market conditions. According to chief executive Nils Kristian B
Bahrain-based wholesale bank Securities & Investment Company (Sico) has reported its net profit for the first half of the year was BD3.5 million ($9.2 million).
When compared with net profit of BD5.1 million for the first six