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Russia is China’s top oil supplier for 2nd month, Saudi volumes tumble
Russia held its spot as China’s top oil supplier for a second month in June as Chinese buyers cashed in on lower-priced supplies, slashing more costly shipments from Saudi Arabia, data showed on Wednesday.
Imports of Russian oil,…
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‘World’s largest’ vertical farm officially opens in Dubai
Emirates Flight Catering and Crop One Holdings have officially opened what they describe as the largest vertical farm in the world.
Located close to Al-Maktoum International Airport in Dubai, the facility, called Bustanica, is the first…
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News of real progress in resolving the grain export crisis from Ukraine
Several well-informed sources said that the negotiating parties on the grain export issue have made great progress, but there are still technical problems to be resolved.
Negotiations were held in Istanbul between military delegations from…
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TASI starts slightly lower as investors watch the market: Opening bell
Saudi stocks started Tuesday slightly lower as investors kept an eye on the market in the face of high oil prices and inflation.
Saudi Arabia’s main index, TASI, started 0.16 percent lower at 11,537, while the parallel market, Nomu,…
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“For force majeure” .. “Gazprom” informs its customers in Europe that it will not supply them with…
Reuters published the text of a notification sent by the Russian company, "Gazprom" to its customers in Europe, on the 14th of this month, in which it notified them, "that it will not guarantee their supply of gas due to force majeure…
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Crude up; Petronas taking steps to protect global assets; Venezuela denounces attack on gas pipeline
Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand.
Brent crude futures for…
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Saudi retailer Jarir Bookstore’s profits fall to $114m in H1 on lower sales
Saudi Jarir Marketing Co., known as Jarir Bookstore, saw its profits drop by 6 percent during the first half of 2022, on the back of lower sales.
The company’s net profit dropped to SR428.5 million ($114 million), compared to SR456.9…
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Alinma Bank to pay $239m in dividends for the first half of 2022
Saudi Arabia’s Alinma Bank will distribute cash dividends amounting to SR896 million ($239 million) to its shareholders for the first half of 2022.
The bank will distribute the dividends at SR0.45 per share to around 1.99 billion…
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Saudi sovereign fund to become Aston Martin’s no.2 shareholder
Saudi Arabia’s sovereign wealth fund will become the second-largest shareholder of Aston Martin with a nearly 17 percent stake in a capital raise aimed at paying off debt and shoring up its business, the British luxury carmaker said on…
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Saudi Arabia, US ink 18 agreements, including on space, investment, energy
The Saudi ministers of energy, investment, communications and health have concluded 18 agreements with their US counterparts.
The agreements unlock new avenues for joint cooperation in investment, energy, information and communications…
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