South-West Asia

Kuwait is taking steps to merge its two state-owned oil companies, reported the news agency Kuna on Tuesday. The OPEC producer wants to restructure their energy industry. Kuwait National Petroleum Company (KNPC) plans to acquire Kuwait Integrated Petroleum Industries Company (KIPIC), Kuna reported citing KNPC Chief Executive Officer Wadha Al-Khateeb. KIPIC is in charge at Al Zour Refinery, while KNPC oversees Kuwait's refinery industry. Al-Khateeb, cited by Kuna as saying that the rapidly changing global oil and gas industry places a huge responsibility on the energy sector of a country to adapt to and enhance such changing dynamics. Kuna reported...

Donald Trump stated on Monday that he believes Iran intentionally delays a deal on a nuke with the United States. He also said Iran must give up any efforts to develop a nuclear weapon, or else face a possible strike on Tehran's nuclear facilities. Trump said to reporters that he believes the Iranians are using us as pawns. He made this statement after U.S. Special Envoy Steve Witkoff had met with a senior Iranian government official in Oman, on Saturday. Iran and the United States both said that they had "positive" and constructive" talks in Oman. The second round of...

His press secretary warned reporters Friday, ahead of Saturday's talks between U.S.-Iran delegations. White House Press Secretary Karoline Leavitt stated that Trump's "ultimate goal is to ensure that Iran cannot obtain a nuclear weapons" and that Trump believed in diplomacy. However, she added that "all options" are available if diplomatic attempts fail. "He's made it clear to the Iranians and his team of national security will do the same, that all options were on the table and Iran had a choice. The president believes that if you don't agree with President Trump's demands, there will be hell to pay. Leavitt...

Sudan informed the International Court of Justice that the United Arab Emirates violated the Genocide Convention on Thursday by supporting paramilitary groups in Darfur. The UAE, however, argued that the case should not be heard as the court lacks jurisdiction. Sudan requested that the judges issue an emergency order to prevent the attacks of the paramilitary Rapid Support Forces (RSF) and other Arab militias in West Darfur in 2023, which were documented by. The United Arab Emirates are complicit in the genocide of the Masalit, according to Sudan's acting Justice Minister, Muawia osman. The UAE have repeatedly dismissed Sudan's case...

Saudi Arabia's stock exchange led its Gulf counterparts higher on Thursday morning, following global shares. This was after U.S. president Donald Trump made the unexpected decision to suspend most of his recently implemented tariffs. Trump announced on Wednesday a 90-day suspension of many of his new tariffs. However, he increased the tariff rate on China from 104% to 125%, effective immediately. Saudi Arabia's benchmark stock index rose 4% on its way to the biggest intraday gain since March 2020. The increase was boosted by Al Rajhi Bank's 3.8% and Saudi National Bank's 3.9% increases. Saudi Arabia is currently subject to...

The major Gulf stock markets rose early on Tuesday following gains in Asian stocks, recovering from a global selling off on hopes that the United States would be willing to negotiate its high import tariffs. Saudi Arabia's benchmark Index advanced 2% on track to extend gains made in the previous session. This was led by Al Rajhi Bank's 2.3% increase and Saudi National Bank's 2.1% rise. Saudi Aramco, the oil giant, rose by 1.2%. The Saudi index fell 6.8% on Sunday, its largest one-day drop since the beginning of the COVID-19 Pandemic in 2020. A survey revealed that the non-oil...

OMV, Austria's oil and gas group, said that it expects its first-quarter results to be boosted by the merger of Borealis and Borouge with ADNOC. Abu Dhabi National Oil Company (ADNOC) and OMV agreed last month to merge their polyolefin business to create Borouge Group International. The new company will have a $60 billion enterprise valuation. Vienna-based company stated that the positive impact of its clean operating results would be a mid-double digit million euro range for the first quarter compared to the final three months in 2024. Clean operating results are based on current costs of supply and exclude...

Two delegates said that the top OPEC+ Ministers meeting on Saturday will not make any new changes to oil output policy. This is after this week's unexpected decision by the group to increase production further sent prices to pandemic levels. At 1200 GMT, a joint ministerial monitor committee (JMMC), or Organization of the Petroleum Exporting Countries plus allies, led by Russia will be held online. The JMMC is a group of oil ministers that includes Saudi Arabia, Russia, and other major producers. It meets about every two months, and it can make policy recommendations. On Saturday, two sources stated that...

India's Foreign Ministry announced on Saturday that India and the United Arab Emirates had agreed to build an energy hub in Sri Lanka. This comes as New Delhi's rivalry with China in the Indian Ocean Island nation grows. The three nations signed a pact to create the hub during Indian PM Narendra Modi’s visit to Sri Lanka. This was the first time a world leader visited Sri Lanka since Anura Kumara dissanayake became president in September. New Delhi and Colombo are working to strengthen their ties, as India's southern neighbor recovers from the severe financial crisis that was triggered in...

The Gulf stock markets fell on Thursday morning, amid concerns that the U.S.'s reciprocal tariffs could worsen trade tensions globally and tip the world towards recession. On Wednesday, U.S. president Donald Trump announced a 10% tariff as a baseline on all imports and increased duties on dozens countries, including its largest trading partners. Saudi Arabia's benchmark stock index fell by 0.4% after the return to trading following a four-session Eid holiday. Saudi National Bank, the country's largest lender, fell 1.5%. Saudi Aramco, the oil giant in Saudi Arabia was down by 0.8%. Oil prices, which are a major factor in...

Lawrence Stroll, the team owner of the Silverstone-based outfit, said that the Aston Martin brand would be present in Formula One for many decades to come. Aston Martin has announced that it will raise more than 125 millions pounds ($161.9million) from Stroll, the company's chairman, as well as the sale of the stake in its F1 team, which is controlled and owned by the Canadian. The billionaire stated in a press release that "these moves demonstrate Aston Martin's position on the Formula One Grid is as secure and ever." Aston Martin and its British racing-green colours will continue to compete...

The threat by U.S. president Donald Trump to impose secondary duties of 25 to 50 percent on buyers of Russian crude is so outrageous and bold that it may achieve his stated goal of a ceasefire between Ukraine and Russia. What is important now is how the other key players react to the latest move of this mercurial, inconsistent U.S. president. Do Russian President Vladimir Putin and Indian Prime Minister NarendraModi, as well as Chinese President Xi Jinping, believe that Trump is going to follow through on his promises? If so, what will this mean for the energy situation of...

Four sources confirmed that Congolese officials, as well as negotiators from the M23 rebels, who are supported by Rwanda, have arrived in Doha to hold talks on a ceasefire. The aim is to end months of fighting which have caused fears of an expanded regional conflict. M23's rapid advances this year have left thousands of civilians killed, hundreds of thousands displaced and the rebels in control of much of eastern Democratic Republic of Congo, an area rich with tin and gold. Both delegations confirmed they were in Qatari capital, saying that there had been a face to face meeting on...

The President of Turkey, Tayyip Erdoan, said that the tariffs imposed by Donald Trump on Wednesday will not have a negative impact on its trade, production, and exports. Turkey is one of the few countries that have escaped the "reciprocal tariff" of the United States of 10%. It is seen as a potential winner amongst a small group of nations. Erdogan told his ruling AK Party lawmakers that Turkey's economic program had made the country resilient to external shocks, and that they expected a stronger economic growth on a medium-to-long term compared with peer countries. Erdogan stated that there was...

The major stock markets of the Gulf gained ground in the early trading on Wednesday. This was after recent losses caused by global trade wars and economic concerns. Trump increased duties on Chinese imports by 104%, accusing Beijing of manipulating yuan in order to offset the levies. But caution won out. China did not bow down to this blackmail and vowed to "fight until the end". Trump's tariffs on specific countries and products have been in effect since 0401 GMT. Saudi Arabia's benchmark Index gained 0.4%. Saudi Arabian Mining Company Ma'aden rose 2.2%. Ma'aden may choose at least one foreign...

Three sources familiar with the matter have confirmed that Saudi Arabia's Ma'aden, the country's largest mining company, is looking at forming a rare-earths processing partnership. The kingdom wants to be a global hub for critical minerals. Sources said Ma'aden was considering a partnership with MP Materials in the United States, China's Shenghe Resources or Australia's Lynas rare earths, as well as Canada's Neo Performance Materials. According to sources who weren't authorized to speak publicly about the discussions, Ma'aden intends to select at least one partner before the end of the month to assist in developing plans for a rare-earths processing...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. PNC Financial Services Group appointed Mark Wiedman, a former BlackRock executive, as its president on Monday. Apple intends to send more iPhones from India to the U.S. to offset the high tariffs on China, according to people familiar with the situation. According to a memo by Chief Executive Tobi Lutze, Shopify will not hire new employees unless their managers can prove that artificial intelligence cannot do the job. Iran's Foreign Minister Abbas Araqchi announced on Tuesday that...

Codelco, Chile’s state-owned copper manufacturer, increased production in the first quarter of 2025. Trade war escalates Maximo Pacheco, chairman of the board, said that there is a growing relationship between China and the U.S. The world's largest copper producer recorded slightly higher production in the first quarter than the same period of 2024. It is also maintaining its production guidance, even after a nationwide power outage in Februrary crimped the output. In an interview given ahead of the CESCO/CRU conferences on the copper industry in Santiago, Pacheco stated that "we will have a quarter which will be slightly better than...

Solidcore, a Kazakh gold miner, is looking at issuing bonds to fund investment in Kazakhstan, including new projects estimated to cost $350 million. The company's CEO Vitaly Nesis said that Solidcore was considering issuing these bonds to the Gulf region. Solidcore (formerly Polymetal International) is the second largest gold miner of Kazakhstan. In 2024, the company was forced to sell its Russian assets which accounted for 70% of its production. This happened after U.S. sanctioned its operations in Russia. Mercury Investments, a government-owned fund in Oman, was the largest shareholder of this new company. Its five-year investment program had to...

Gold prices reached a record high on Friday, as fears over President Donald Trump's new tariff plans fueled fears of a trade war around the world. This prompted a rush to the gold-safe haven. As of 0230 GMT spot gold rose 0.6%, to $3,073.79 per ounce. It had earlier reached a session high of $3.077.44. Bullion has risen 1.7% this week. U.S. Gold Futures rose 0.8% to $3.083.60. Gold is riding high at the moment. "Everything is in favor of gold, including U.S. economic policy, U.S. geopolitics and the slowdown in global growth," said Capital.com financial analyst Kyle Rodda. He...

U.S. Gold Futures reached a record high on Thursday as investors sought out the safe-haven assets in response to global trade tensions escalating and falling equity markets after U.S. president Donald Trump announced new auto tariffs. U.S. Gold Futures rose 1.1% to 3,056.10 after reaching an all-time session high of $3.065.50. Spot gold increased $3,047.89 per ounce at 09:10 am. ET (1310 GMT). Gold has traditionally been seen as a hedge to economic and political uncertainties and thrives when interest rates are low. The gold spot price has reached 16 new highs in this year. It reached a record-breaking $3,057.21...

Gold prices reached their highest level in almost a week after U.S. president Donald Trump announced that new tariffs would be imposed on auto imports beginning next week. This announcement exacerbated global trade tensions, which have driven demand for safe-haven gold. As of 0940 GMT the spot gold price was up 0.6% to $3,035.98 per ounce, after hitting its highest level since March 21 during earlier sessions. U.S. Gold Futures rose 0.8% to $3.045. Gold, which is traditionally seen as an investment against inflation and uncertainty, has increased by more than 15 percent this year, reaching a record high of...

Gold prices rose Thursday, as U.S. car tariffs escalated global trade tensions in advance of the April 2 deadline to reciprocate tariffs by the world's biggest economy. As of 0247 GMT, spot gold increased 0.4% to $3.030.47 per ounce. U.S. Gold Futures rose 0.5% to $3.036.00. The U.S. president Donald Trump announced on Wednesday a 25% import tariff for cars and light trucks, which will take effect next week. This is a further escalation of the global trade conflict. Investors were concerned that Trump's tariffs would fuel inflation, slow the economy and increase trade tensions. On March 20, concerns over...

Gold prices fell on Wednesday, as the dollar and U.S. bonds yields rose. However, concerns about the Trump Administration's new tariffs kept the price above the $3,000 level. At 11:08 am, spot gold had fallen by 0.1% to $3,015.5 per ounce. ET (1508 GMT). U.S. Gold Futures dropped 0.1% to $3.022.10. The dollar index increased by 0.1% against other currencies, causing gold to be more expensive for holders of other currencies, while yields on benchmark 10-year U.S. Treasury bonds inched up. Gold remains supported by haven interest amid ongoing geopolitical and tariff risks. "New record highs will help me reach...