Economy

Business heads fear lasting bottlenecks from Red Sea tensions

Business chiefs warned on Wednesday that disruption to shipping in the Red Sea caused by attacks by Yemen's Houthi militants could affect supply chains for months and lead to a shortage of tankers needed to transport fuel. Attacks by the Iran-allied Houthi militia on ships in the region since November have slowed trade between Asia and Europe ...

19:30 Et January 17, 2024

Gas Shortages Are Not Expected To Affect Europe This Year, Despite Cold Weather Forecast: Experts

Europe is more prepared than last year in having sufficient energy supplies, even in the event of anticipated cold spells, experts have said. Europe, in a bid to ...

10:37 Et January 11, 2024

Oil Prices Nudge Higher With US Economic Data In Focus

Both oil benchmarks saw modest rises on Wednesday, fueled by optimism over US demand, as investors braced for impending economic data signaling the Federal Reserve's (Fed) next policy ...

10:46 Et January 10, 2024

Oil Up Over Demand Upsurge In US, Positive Signals From Fed

Oil prices increased on Friday over robust demand indicators in the US as crude oil inventories declined and Federal Reserve (Fed) minutes show interest rate cuts are likely ...

10:26 Et January 5, 2024

Oil prices slide as Red Sea transport disruptions ease

Oil prices fell roughly 1% on Thursday, as concerns eased about shipping disruptions along the Red Sea route, even as tensions in the Middle East continue to fester. ...

12:16 Et December 28, 2023

Oil up ahead of postponed OPEC+ meeting on supply future

Oil prices increased on Tuesday amid supply uncertainty magnified by reports of disputes among OPEC+ members over their production "as for the upcoming year. International benchmark crude Brent ...

10:53 Et November 28, 2023

European car market expands 14.6% in October

The European passenger car market grew 14.6% from a year ago in October, marking the 15th consecutive month of growth, an industry group report revealed on Tuesday. New ...

11:40 Et November 21, 2023

Oil Prices Ease As Demand Worries In US, China Persist

Oil prices slid on Thursday over weak demand data in the US and unfolding fears that recession signs in China will also curb the country's oil demand. International ...

12:13 Et November 16, 2023

World oil, gas, coal demand to peak by 2030, IEA says

World fossil fuel demand is set to peak by 2030 as more electric cars hit the road and China's economy grows more slowly and shifts towards cleaner energy, the International Energy Agency said, undercutting the rationale for any rise in investment. The report from the IEA, which advises industrialised countries, contrasts with the view of ...

10:40 Et October 24, 2023

Egyptian banks suspend debit card use in foreign currency

At least two Egyptian banks have suspended the use of Egyptian pound debit cards outside the country to stop a drain on foreign currency as the country's currency ...

11:16 Et October 6, 2023
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