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HuaweiKHOBAR- Petrokemya, a subsidiary of Saudi Basic Industries Corp, or Sabic, has signed an initial deal with Spanish oil engineering company Tecnicas Reunidas to build a petrochemical plant in Jubail, Sabic said on Saturday.
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DOHA - Qatar’s sovereign wealth fund lifted its stake in miner Xstrata, which is merging with commodities trader Glencore, to over 10 per cent, forging ahead with its recent spate of share-buying in European blue-chip companies.
International Monetary Fund Managing Director Christine Lagarde on Friday urged European leaders to act without delay to overcome the eurozone crisis.
When Germany faces Portugal at the Euro 2012 soccer championship on Saturday, another battle is playing out between sponsors Nike Inc and Adidas AG for the top spot in selling gear for the world’s most popular sport.
DUBAI — Qatar’s state budget surplus narrowed to 2.9 per cent of quarterly economic output in the third quarter of its 2011-12 fiscal year, as revenue dropped compared with the previous three months while spending took off, data showed on Thursday.
LONDON - European shares retreated from one-week highs on Friday as hopes for more global stimulus faded and data disappointed, with cyclical shares such as banks and miners that suffer in a difficult economic environment featuring among the top losers.
ATHENS - Greece’s economy shrank further in the first three months of 2012, shrivelling at a yearly rate of 6.5 percent against a backdrop of painful wage cuts, tax hikes and record unemployment.
Asian markets fell Friday as European debt woes and disappointment at US Fed chief Ben Bernanke’s failure to commit to any new stimulus measures overshadowed a surprise Chinese interest rate cut.
LONDON - Gold fell on Friday, extending losses from the previous day when the U.S. Federal Reserve gave no hint of plans for an imminent stimulus to the economy, disappointing investors and dampening the metal’s appeal as a hedge against monetary easing.
Asian stock markets fell on Friday, deflated after US Federal Reserve Chairman Ben Bernanke gave no hint of immediate action to jump-start growth in the world’s No. 1 economy.