Sunday 2 August 2015
 
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US oil giants majorly hit by slump in oil prices

Earnings of US petroleum giants ExxonMobil and Chevron were knocked down yesterday (July 31) by lower oil prices, said a report. ExxonMobil’s second-quarter profits fell by 52.3 per cent year-over-year to $4.2 billion as it

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US oil giants majorly hit by slump in oil prices

Earnings of US petroleum giants ExxonMobil and Chevron were knocked down yesterday (July 31) by lower oil prices, said a report. ExxonMobil’s second-quarter profits fell by 52.3 per cent year-over-year to $4.2 billion as it

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Egypt raises electricity prices for mid-to-high households

Egypt raised electricity prices on Thursday for mid-to-high household usage by an average of 19 percent for the 2015/2016 fiscal year, the electricity ministry said. The government began raising electricity prices last year as par

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Oil prices climb, but stay in bear market territory

Oil prices edged up on Friday after closing at their lowest in months in the previous session as oversupply and disappointing Chinese factory activity dragged on the market. Oil prices in the US have slumped more than 20 per cent

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Oil prices rise on China stocks rebound, Greek deal hopes

Oil prices rose on Friday on hopes that the Greek debt crisis could be resolved and as Chinese stocks rebounded, but analysts said bigger jumps were unlikely as global crude production remained high. Greece has tabled a cash-for-r

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ME lenders struggle with falling loan pricing

The reluctance of local lenders to join the $3 billion loan for Abu Dhabi National Energy Company (Taqa), which is in general syndication, is highlighting how previously liquid local Middle East banks are being priced out of the market as low oi

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Oil prices steady, all eyes on Greece

Oil prices were little changed in thin trade on Friday, with investors focusing on talks aimed at averting a Greek debt default. Brent crude for August delivery was up 19 cents at $63.39 a barrel by 0334 GMT after ending the previ

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Oil prices ease on higher shale output forecast

Oil futures prices dipped slightly in thin trade on Friday as forecast higher production by US shale oil producers this year added to lingering worries over demand. US July crude shed four cents to $60.41 a barrel as of 0302 GMT a

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US boost as consumer prices post major gains

US consumer prices in May recorded their largest increase in more than two years as gasoline prices surged, suggesting the drag on inflation from lower oil prices was fading. Other data on Thursday showed the economy was regaining

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Ramadan food prices ‘will be stable’ in Bahrain

Market prices for all basic food items, especially those in high demand during Ramadan will be stable in Bahrain, a top official has asserted. Industry and Commerce Ministry Under-Secretary for trade affairs Nader Almoayyed met wi

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