Business

Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.13, or 1.1%, to $107.93 a barrel at 1228 GMT. U.S. West Texas Intermediate (WTI) …

The ongoing conflict has not interrupted energy supplies Russia continues to supply natural gas to Europe through Ukrainian territory without interruptions, the spokesman for Russian energy major Gazprom, Sergey Kupriyanov, told the media on Monday. “Gazprom supplies Russian gas for transit through Ukrainian territory in accordance with requests of European …

Sri Lanka’s securities commission ordered the Colombo Stock Exchange to be halted next week to give investors time to digest the country’s economic conditions. The board of directors of the stock exchange, along with other stakeholders, had sought a temporary closure of the market, the Securities and Exchange Commission of …

Twitter Inc adopted a ‘poison pill’ on Friday to limit Elon Musk’s ability to raise his stake in the social media platform, as a buyout firm emerged to challenge his $43 billion bid for the company. Thoma Bravo, a technology-focused private equity firm that had more than $103 billion in …

Lebanon is ready to work with Cyprus to exploit potential gas deposits in waters between the two east Mediterranean countries, Lebanon’s top diplomat said Friday, even though a deal on offshore rights hasn’t been formally finalized. Cyprus and Lebanon signed an agreement delineating their respective offshore exclusive economic zones in …

The Tesla owner has questioned Saudi Arabia’s role in the tech company after the prince ‘rejects’ the proposed deal. Elon Musk has questioned Saudi Arabia’s role in Twitter Inc after Saudi Arabia’s Prince Alwaleed bin Talal tweeted his opposition to the billionaire entrepreneur’s offer to buy the social media company. …

Tunisia will raise local fuel prices every month this year by no less than 3 percent, an official in the energy ministry said on Thursday, which may mean an increase of at least 30 percent by the end of 2022. Tunisia raised fuel prices by 5 percent on Wednesday, its …

The offer comes after Musk, who owns nine percent of Twitter’s shares, said he will not be joining the company’s board of directors. Elon Musk is offering to buy Twitter. The revelation on Thursday came just days after the Tesla CEO said he would no longer be joining the social …

Oil prices extended gains on Wednesday after Moscow said peace talks with Ukraine had reached a dead end, feeding worries about tight supplies even after U.S. crude stocks rose by more than 9 million barrels. Brent crude was up $1.94, or 1.9%, to $106.58 a barrel by 11:03 a.m. (1508 …

A Twitter investor claims Elon Musk has gained millions of dollars by ‘deflating’ share prices through delayed disclosure A Twitter investor, Marc Rasella, has accused the SpaceX founder and the world’s richest man, Elon Musk of causing him to lose money through “misleading statements” about his purchase of a large …

Inflation hit a fresh 40-year record in March as U.S. consumer prices rose 8.5% from a year ago, the Labor Department said on Tuesday. The Consumer Price Index, which tracks a basket of goods and services, jumped 1.2% in March after increasing 0.8% in February, showing that inflation gained speed …

European Union officials will hold talks in Vienna with OPEC representatives on Monday amid calls for the producer group to increase output and as the EU considers potential sanctions on Russian oil. OPEC has resisted calls by the United States and the International Energy Agency to pump more crude to …

World food prices jumped nearly 13% in March to a new record high as the war in Ukraine caused turmoil in markets for staple grains and edible oils, the U.N. food agency said on Friday. The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded …

Oil prices drifted lower on Friday and were set to drop around 3% for the week as consuming countries’ planned release of 240 million barrels from emergency stocks offset some concerns over reduced supplies from Russia due to western sanctions. Brent crude futures edged lower by 55 cents, or 0.6% …

Oil prices rose on Thursday from a three-week low touched in the previous session after consuming nations announced a huge release of oil from emergency reserves, as worries over tight supplies still clouded the market outlook. Brent crude futures climbed $1.42 or 1.4%, to $102.52 a barrel at 0651 GMT, …

The Central Bank of Iraq announced today, Thursday, the size of the gold reserves in Iraq, while determining the country’s ranking globally. Deputy Governor of the Central Bank, Ihsan Shamran, said that “the gold reserves in Iraq are 96.4 tons.” Shamran added, “Iraq is in the 37th sequence of international …

Oil prices rose, in conjunction with the unrest in Kazakhstan, which raised concerns among consumers about the shrinking of supplies . After recording a stabilization in gas prices before the end of last year, Bloomberg Agency reported that natural gas prices rose by more than 40% this week, as Russian gas …

The oil market kicked off 2022 on a positive note even as concerns over demand waning due to rapidly spreading COVID-19 pandemic limited gains. Brent crude gained 0.86 percent to $78.45 a barrel, as of 0102 GMT, while US West Texas Intermediate crude futures gained 1.02 percent to $75.98 a …

The Ministry of Industry in South Korea said that exports rose by 25.8 percent in 2021 compared to the previous year . The ministry stated that exports recorded their highest level ever, against the backdrop of strong demand for chips and petroleum products amid the global economic recovery . The volume of …

Oil prices extended gains on Tuesday, with Brent crude trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, supported by supply outages and expectations that U.S. inventories fell last week. Brent crude rose by 60 cents, or 0.8%, to $79.20 a barrel by 12 p.m. …