Oil edged up above $34 a barrel on Friday, a gain of some 25 per cent from the 12-year lows seen earlier in January, on hopes that a deal between major exporters to cut production could help reduce one of the worst oil gluts in history.
Asian shares took their cue from Wall Street and slipped on Friday, but were still on track for gains in a week marked by the first US interest rate hike in nearly a decade and a depreciating yuan.
Oil prices headed for their largest weekly rise in six weeks on Thursday, although an unexpectedly large increase in US inventories may temper some of the optimism among investors that global demand and supply could soon be in balance.
China's recent stock market pain is proving to be India's gain, with share prices in the south Asian nation reviving as investors who cut their holdings earlier this year switch out of Chinese equity markets and back into India's.
The Middle East and North Africa (Mena) region had the greatest gain in the food security index with a 2.4-point increase from last year, according to the 2015 Global Food Security Index.
Despite the rapid stri
Gold was little changed on Friday, on track for a second weekly gain, bolstered by the Federal Reserve's caution on US interest rate hikes and worries over Greece, but a recovering dollar capped the upside.
Spot gold was up 0.
US producer prices in May recorded their biggest increase in more than 2-1/2 years as the cost of gasoline and food rose, suggesting that an oil-driven downward drift in prices was nearing an end.
The stabilisation in producer pri
Momentum is building up in Bahrain's real estate space with pent up demand for new real estate coming to the surface after a five-year hiatus, Kuwait Finance House-Bahrain managing director and chief executive Abdulhakeem Al Khayyat has said
Oil has rounded out its best monthly gain in six years on Thursday, with the two global benchmarks for crude rising between 20 and 25 per cent in April, helped by a weaker dollar and bets that a supply glut would ease.
After the J
Gold fell on Friday, snapping a seven-day rally as the dollar rebounded after Federal Reserve officials signalled they remained on track to raise rates this year, but the metal still looked set to post its second straight weekly gain.