Opec+ wants to see full conformity on cuts after meeting in Abu Dhabi

Abu Dhabi: Any further cuts in oil production have been put on hold for now, as Opec+ ministers called on producers to abide by those that are already in place. This follows the Joint Ministerial Monitoring Committee (JMMC) meeting in Abu Dhabi. In a statement following their meeting, the Organisation of Petroleum Exporting Countries said […]

1% of Saudi Aramco can pull 10-year worth of proceeds

Dubai If Saudi Arabia moves ahead with plans to float 1 per cent of the world’s most profitable company, Saudi Aramco, it could raise proceeds equivalent to the last 10 years of initial public offerings in the country. There are still moving parts in what could be a game-changing IPO, but this week the company […]

Global markets’ optimism grows on trade and stimulus

LONDON World stocks rose for the sixth straight day on Wednesday and bond prices fell as investors unwound safety bets, encouraged by hopes of a resolution to the Sino-US trade standoff and signs Europe may be preparing to ease budget spending rules. Higher-risk assets such as equities and emerging markets rose almost across the board […]