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Oil prices rise thanks to improved investor appetite for risk
Oil prices rose for the sixth consecutive session, today, Wednesday, following the impact of a broad-based rise in global markets.
And US crude futures, "West Texas Intermediate", rose 0.3% to $ 76.19 a barrel, by 01:01 GMT.
Brent…
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Jabal Omar increases share offer to Alinma Makkah Fund to settle liabilities
Jabal Omar Development Co. has increased its share offer to Alinma Makkah Real Estate Fund’s manager to settle payment obligations owed by the developer to the fund.
The offer was revised from 193.07 million to 225.13 million shares with…
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Egypt achieves 55% higher gasoline production in the last 7 years
Egypt’s local production of gasoline has increased by 55 percent from 2014 to 2021, the country’s minister of petroleum and mineral resources said in a statement.
Tarek El-Molla said that local gasoline production reached 6 million…
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Saudi Sidra Capital buys former HQ building of Southwestern Energy in Houston
Saudi-based financial services provider Sidra Capital has acquired the Houston 10,000 Energy Drive property, which was formerly the headquarters of the NYSE-listed oil and gas business Southwestern Energy.
The property includes two…
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Suez Canal Economic Zone signs $2.6bn petchem deal
The Suez Canal Economic Zone has signed a $2.6 billion contract to build an international methanol and ammonia production complex in Ain Sukhna in Egypt, on the western shore of the Red Sea.
The project will be implemented in two phases,…
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Lira rallies late after Erdogan props up currency
Turkey’s lira ended the session up over 20 percent on Monday after President Tayyip Erdogan introduced a series of steps that he said will ease the burden of the weakened currency on Turks, while vowing to press on with a low-rates policy…
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Saudi Crown Prince launches Jeddah Downtown $20bn master development plan
Crown Prince Mohammed bin Salman has launched the master development Downtown Jeddah project, formerly known as “New Jeddah Downtown”, to develop 5.7 million square meters with a total investment of SR75 billion ($19.98 billion).
The…
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Adidas launches NFT collection; Russia calls cryptocurrencies ‘swindle’: crypto wrap
Adidas has teamed up with non-fungible token specialist Bored Ape Yacht Club, cryptocurrency investor Gmoney, and Punks Comic to release its own set of NFTs as the sportswear brand pushes further into the metaverse.
The Adidas Originals…
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IMF examines extent of Lebanon’s financial sector losses
Amid ongoing talks on a new aid program, the IMF is examining data from Lebanon’s government on the scope of financial sector losses, estimated at about $69 billion, a fund spokesman said Thursday.
“I’d say there’s been considerable…
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The European Central gradually reduces pandemic support due to “Omicron”
The European Central Bank rejected a sudden withdrawal of its pandemic-related support for the economy, while the new mutated Corona virus "Omicron" raises confusion and concern for the recovery of the old continent.
The European Central…
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