Oil prices edged to new 2016 highs on Friday, lifted by a weak dollar and falling production in the US, although a looming rise in Middle East output capped gains.
Brent crude futures were trading at $48.30 a barrel at 0644 GMT, u
Saudi Arabia's central bank, which serves as the kingdom's sovereign wealth fund, reported a fall of $6 billion in net foreign assets in March as low oil prices took their toll.
Net foreign assets held by the central bank
Volkswagen brand sales kept falling in March as the carmaker struggles to overcome its diesel emissions scandal, though the pace of the slowdown eased compared with February.
Global deliveries of Volkswagen'
Oil prices slipped on Monday after banks dampened hopes that the result of next Sunday's meeting of producers in Qatar aimed at freezing current output levels would improve the current supply-demand balance.
Fashion Forward Dubai (FFWD), the region’s progressive fashion platform, endorsed by the Dubai Design and Fashion Council (DDFC), closed its Fall/Winter ’16 season to great acclaim from industry figures, having presented 39 apparel
Oil futures fell below $40 per barrel, with the market growing increasingly sceptical that a looming deal to freeze crude production can help clear a global glut.
Saudi Arabia will freeze its oil output only if
Oil rose by more than six per cent on Friday, as a cold snap boosted demand for heating oil across the United States and Europe, but was still mired near its lowest since 2003 and set for its largest drop in January in at least 25 years.
Dar Al Arkan, a leading property developer in Saudi Arabia, reported a 57.9 per cent fall in fourth-quarter net profit on Thursday.
Arkan made a net profit of SR48.7 million ($13 million) in the three mon
Saudi Arabia's Al Tayyar Travel Group posted a 6.9 per cent fall in fourth quarter net profit on Wednesday.
The company made a net profit of SR215 million ($57.3 million) in the three months to December 31, down from SR231 million (