Maersk profit plunges amid weak trade, low oil prices
Danish conglomerate A.P. Moller-Maersk on Wednesday reported an 82-percent drop in annual profit as its shipping unit was hit by lower freight rates and...
Saudi Aramco expects oil prices to rise by end of 2016
Saudi Arabia's state-owned oil giant expects oil prices will climb toward the end the year, saying the current price of around $30 a barrel...
Iran struggles to find enough ships for oil exports
Iran faces a struggle to increase oil exports because many of its tankers are tied up storing crude, some are not seaworthy, and foreign...
Oil rebounds above $40, with eyes on Doha
The oil market rebounded sharply this week, with Brent back above $40 per barrel, as hopes grew of an output freeze at the looming...
Crude prices up on Canada fires and Saudi oil minister replacement
Crude prices extended gains in Asia Monday as raging wildfires hit production in Canada, while traders digested news that Saudi Arabia had replaced its...
Saudi Arabia to raise domestic petrol prices by 'up to 40%'
Saudi Arabia will raise domestic petrol prices by up to 40 per cent, AFP has reported, citing the kingdom's state press agency, SPA.
Initial reports...
Apple Pay expands as it vies for broader acceptance
Apple's year-old mobile-payments service is expanding to more countries, banks and merchants, as it faces growing competition and some challenges before it becomes as...
Oil slides on Kuwait-Saudi oilfield agreement
World oil prices sank on Tuesday after producers Saudi Arabia and Kuwait announced a deal to gradually resume production at a joint oilfield.
The agreement...
World Bank approves $1.15 bln development policy loan for Egypt
The World Bank Group said its executive board approved on Tuesday a $1.15 billion development policy loan for Egypt to support the country's economic...
Microsoft's Gates to start multi-billion-dollar clean tech initiative
Microsoft co-founder Bill Gates will launch a multi-billion-dollar clean energy research and development initiative with heads of state on Monday, the opening day of...
