Oman

Cut off from the West, Russia is pitching its $2 trillion economy to giants like China and Saudi Arabia and longerterm prospects like Zimbabwe and Afghanistan at its premier investment forum in St. Petersburg, which was established by the tsars as a window to. Europe. The war in Ukraine has caused the most significant upheaval in. Russia's relations with the West since the 1962 Cuban Rocket. Crisis, and Western sanctions have required a once-in-a-century. revolution in Russia's financial relations. Since Peter the Great laid the foundations of the modern. Russian state and made St Petersburg the capital in the early....

Major stock markets in the Gulf were suppressed in early trading on Tuesday in the middle of unpredictable oil prices, while investors looked forward to inflation data later this week for ideas on the course of U.S. rates of interest cuts. Oil prices, a driver for the Gulf's monetary markets, swept in between gains and losses as markets waited for an OPEC+. meeting on June 2. Brent edged as much as $83.18 a barrel by. 0800 GMT. The Federal Reserve's preferred step of inflation, core. individual intake expenses, due on Friday, will be. closely watched by investors for hints on...

Turkey and the Gulf Cooperation Council (GCC) have actually signed a deal to launch negotiations for a Free Trade Agreement (FTA), Turkish Trade Minister Omer Bolat stated on Thursday, as Ankara steps up efforts to broaden financial ties with the region. After years of stress, Turkey introduced a diplomatic charm offensive in 2020 to repair ties with Gulf nations, particularly the United Arab Emirates (UAE) and Saudi Arabia. Ankara currently has a trade agreement, dubbed an extensive economic collaboration arrangement, with the UAE. Ever since, Ankara has actually signed deals worth billions with Gulf countries, including Qatar, with which it...

Omer Bolat, Turkish Trade Minister said that Turkey and the Gulf Cooperation Council have signed an agreement to begin negotiations for a Free Trade Agreement. Ankara is stepping up its efforts to expand the economic ties to the region. After years of tensions, Turkey launched in 2020 a charm offensive to repair relations with Gulf countries - namely, the United Arab Emirates and Saudi Arabia. Since then, it's signed deals worth billions of dollars with Gulf nations including Qatar with whom it enjoys strong relationships. Bolat, a social media user, said that the agreement would liberalize trade of goods and...

Settlements between China and an Arab bloc for an open market agreement have stalled over concerns by Saudi Arabia that low-cost Chinese imports could undermine its aspirations to transform the kingdom into an commercial powerhouse, sources state. Saudi Arabia has backed renewed efforts over the past 2 years for the Gulf Cooperation Council (GCC), the Arab bloc which includes the kingdom, United Arab Emirates and Qatar, to name a few, to finally seal a long sought handle China. But five sources briefed on the negotiations stated the sides were at an impasse over Saudi bookings with a list of items...

Here are some factors that might affect Middle East stock exchange on Tuesday. has not validated the press reports and does not guarantee their accuracy. INTERNATIONAL/REGIONAL * GLOBAL MARKETS-Asia shares hit 15-month high as traders wait for CPI * Oil constant as investors eye US inflation, OPEC report * PRECIOUS-Gold rates edge greater as essential United States inflation information looms * MIDEAST STOCKS-Gulf markets end mixed ahead of United States inflation data * Israeli forces press Gaza offensive from north and south * Erdogan defends Hamas, says members are being dealt with in Turkish hospitals * White House sees no...

Marine fuel supplier TFG Marine, majorityowned by products trader Trafigura, has participated in an arrangement with Oman's SOHAR Port and Freezone to established its very first Middle Eastern bunker fuel supply, the business said in a statement late Tuesday. Located in Oman near the Strait of Hormuz and dealing with the Arabian Sea, the SOHAR Port and Freezone is located on one of the world's key shipping paths, linking the Middle East and the Indian subcontinent with the remainder of the world. TFG Marine plans to start bunker deliveries when its very first bunker vessel gets to the port, in...

Significant stock exchange in the Gulf tumbled on Monday, tracking Asian shares lower on worries that the United States could be heading for recession, while concerns about a widening dispute in the region contributed to the worries. The U.S. joblessness rate jumped to near a three-year high of 4.3% in July amid a substantial downturn in hiring, heightening fears the labor market was deteriorating and potentially making the economy susceptible to a recession. The worryingly weak July payrolls report saw markets price in a 78% chance the Federal Reserve will not just cut rates in September, however ease by a...

The majority of major stock markets in the Gulf alleviated in early trade on Tuesday following a decrease in oil prices as investors waited for the result of the U.S. main bank's meeting. Oil costs-- a driver for the Gulf's monetary markets-- extended losses from the previous session in the middle of concerns about need in China, while the marketplace shook off the risk of dispute escalating in the Middle East. Saudi Arabia's benchmark index dropped 0.3%, with aluminium products maker Al Taiseer Group losing 0.9% and Al Rajhi Bank down 0.4%. Separately, the kingdom's Manara Minerals is taking a...

Significant stock markets in the Gulf were mixed in early trade on Wednesday as business incomes failed to cheer investors, while the Saudi index was on course to fall for a 3rd successive session. Saudi Arabia's benchmark index fell 0.2%, with Saudi National Bank, the nation's leading lender, losing 0.5%. The kingdom's financial growth will likely be one of the slowest amongst the Gulf Cooperation Council countries this year, according to a poll of economists who decreased development projections from three months ago due to prolonged oil output cuts. Economic experts said lower oil profits were likely to constrain investments...

The majority of major stock markets in the Gulf increased in early trade on Tuesday, assisted by positive profits, while financiers looked for additional signs that the U.S. Federal Reserve might start to cut interest rates as soon as September. Dubai's primary share index got 0.4%, with blue-chip developer Emaar Properties rising 0.8%,. while Emirates Integrated Telecom advanced. 1.5%, following a sharp rise in second-quarter incomes. In Abu Dhabi, the index added 0.1%. The United Arab Emirates hopes to reactivate trade talks. with the European Union by the end of the year, the UAE trade. minister said on Monday, and...

Gold producer Polymetal International prepares to double output by 2029 through acquisitions in Central Asia and will halt dividends while pursuing that goal, it stated on Tuesday in a strategy shift because the sale of its Russian properties. Polymetal's Russian company came under U.S. sanctions in 2023 after Moscow sent troops into Ukraine in February 2022. The group offered its Russian assets, which represented about 70% of output and more than 50% of core earnings, for about $3.7. billion this year. We will need a hell of a great deal of capital to achieve our. vision, and at the exact...

Emirati and Omani companies have actually signed offers worth 129 billion dirhams ($ 35.12 billion) in sectors including energy and transportation during the Omani ruler's. see to the United Arab Emirates this week. The UAE financial investment ministry announced the deals on Tuesday,. a day after Oman's Sultan Haitham bin Tariq showed up for a. two-day state visit and consulted with UAE President Sheikh Mohammed. bin Zayed Al Nahyan. The contracts were dominated by a 117 billion dirham. commercial and energy megaproject organizing wind, solar. projects and green metals production. Abu Dhabi National Energy Co. (TAQA), Abu Dhabi Future. Energy...