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Business
SoftBank’s Vision Fund posts $2bn profit, share weakness casts shadow
SoftBank Group Corp’s Vision Fund unit on Tuesday posted a 236 billion yen ($2.14 billion) profit in the first quarter after gains from listing portfolio companies were offset by falling shares in firms like e-retailer Coupang Inc.
The…
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Crypto coins edge higher as industry awaits changes
Bitcoin, the leading cryptocurrency in trading internationally, traded higher on Monday, rising by 3.21 percent to $46,033.54 at 5:22 p.m. Riyadh time. Ether, the second most-traded cryptocurrency, traded at $3,151.89, up 1.67 percent,…
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Aramco to continue paying current dividends as oil majors increase yields
Saudi Aramco has no plans for now to increase its quarterly dividends of $18.7 billion even as other oil majors are increasing the yields to investors.
“We’ll advise later this year whether we’ll be sticking to the ordinary dividend or…
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Dubai-based crypto platform BitOasis posts strong H1 results
Dubai-based digital asset platform BitOasis saw trade volumes exceeding $3 billion during the first half of 2021 – a positive sign for the region’s crypto market.
Launched in 2015, the platform also recorded a doubling of its user base…
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Crypto rallies ahead of US infrastructure plan
Bitcoin and Ether, two of the most traded crypto currencies, are at their highest levels in more than two months after a significant pullback in recent months.
The price movements come as the US infrastructure bill that could affect the…
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Saudi Aramco’s Asian crude prices hike comes at risky time amid Chinese COVID resurgence
Saudi Arabia’s decision to raise the price of the oil it sells in Asia this month may prove costly as Chinese demand weakens amid a resurgence in coronavirus cases and the US and Russia seek to undercut the Kingdom’s product with cheaper…
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Gazprom assessing impact of plant fire as gas prices soar
Gazprom is analyzing the market impact of a fire that broke out Thursday at one of its facilities, with natural gas prices soaring after the incident.
The fire was at a gas preparation plant in Urengoy and the Russian firm was assessing…
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Ethereum could overtake bitcoin as world number one cryptocurrency, analysts say
The price of ether, Bitcoin’s biggest competitor, rose on Thursday after the Ethereum core network was upgraded.
Ether was trading 6.2 percent higher at $2,781 at 2:43 p.m. in London, according to Coindesk data. The second-largest…
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Iraq eyes up to $4bn loan from IMF
Iraq restarted talks with the International Monetary Fund (IMF) after previously halting efforts to secure aid, the country’s finance minister Ali Allawi told reporters on Thursday, according to Bloomberg.
Talks between both parties…
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Egypt’s central bank keeps key interest rates unchanged
Egypt’s central bank kept its key interest rates unchanged during its monetary policy committee (MPC) meeting on Thursday, the bank said in a statement.
The committee kept the overnight lending rate at 9.25 percent and the overnight…
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