Despite geopolitical tensions, the Emirates will continue to attract foreign investment by offering a stable economy and investor-friendly rules
business1 hour ago
Mexico has completed its annual oil hedging programme for 2020 at $49 a barrel, the finance ministry said, at a time when the finances of both the sovereign and state oil company Pemex are particularly vulnerable.
The oil hedging programme, the world's largest financial oil deal, is designed to protect Latin America's second-largest economy against oil price crashes. It was unclear how many barrels were hedged or how much was spent.
While the finance ministry has previously withheld information about how many barrels are covered, this is the first time since at least 2001 that it did not disclose the programme's overall cost.
The hedge price is notably lower than 2019, which was hedged at $55 per barrel, but in line with the oil price set out in the 2020 budget. Mexico typically hedges using options, which gives it the right to sell oil at a predetermined price, even if the price on the market is lower.
Despite geopolitical tensions, the Emirates will continue to attract foreign investment by offering a stable economy and investor-friendly rules
business1 hour ago
The Challenge Tour returns to Europe and Seville, following the recent two-week mini-swing in the UAE
sports1 hour ago
A strong UAE and Middle East participation is expected at the event which celebrates and rewards excellence in golf
sports1 hour ago
During the war, Gaza's hospitals have been repeatedly attacked by Israel
world1 hour ago
Last week, the Dubai Government announced that all operations at Dubai International will be transferred to Al Maktoum International over the next few years
uae1 hour ago
Bryson DeChambeau ‘s Crushers GC lead team competition with seven more tournaments still to come
sports2 hours ago
The caracal has now been handed over to a zoo, which will provide the appropriate care and environment for the animal
uae2 hours ago