Fears of a second coronavirus wave to weigh on oil prices

Abu Dhabi: Oil prices on Friday posted a first weekly loss in seven weeks, with rising number of worldwide COVID-19 cases putting pressure on oil markets with fears of a second wave. Global benchmark Brent crude saw its prices fall below the $40 mark with trading closing on $38.73 and West Texas Intermediate (WTI) at […]

China’s factory goods prices slump on virus shock

Beijing: China’s factory-gate prices remained at four-year lows in May, official data showed Wednesday, as the demand shock from the coronavirus continued to take a toll on the world’s second-largest economy. The producer price index (PPI), which measures the cost of goods at the factory gate, deepened its contraction last month, shrinking 3.7 percent on-year. The […]

Dubai: Tomatoes and potatoes see drop in prices, chicken too! Stock up

Dubai: Are you someone who stocks the kitchen with a week’s worth of grocery supplies? Then, you must be informed that prices of different fish varieties have gone up. The price of 1kg hammour has increased from Dh46.9 on June 11 to Dh49.9 on June 14. Similarly, the price of 1kg salmon now stands at […]

Mukesh Ambani’s Jio adds TPG to backers with $600 million stake sale

TPG Capital agreed to pay 45.4 billion rupees ($600 million) for a stake in Jio Platforms Ltd., the telecommunications and digital services business of Reliance Industries Ltd., India’s largest company. The deal is for a 0.93% share, Reliance said in a statement. The Texas-based private equity firm’s backing adds to the list of well-known investment […]

Abu Dhabi’s Dh1b waterfront project on track for year-end completion

Abu Dhabi: Abu Dhabi’s newest waterfront destination, Al Qana is on track for completion by the end of Q4 this year, with the project costing over Dh1 billion to construct so far. Under development by Al Barakah International Investment, the waterfront location will include attractions such as the region’s largest aquarium, a virtual reality zone, and […]