Economy

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 passenger car registrations in the EU amounted to 855,484 units in October, the European Automobile Manufacturers' Association (ACEA) said in a statement. Three of the largest markets ...

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, ...

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

China's economy shows some signs of stabilising but property slump threatens outlook

China's factory output and retail sales grew at a faster pace in August, but tumbling investment in the crisis-hit property sector threatens to undercut a flurry of support ...

10:38 Et September 15, 2023

Oil falls on concerns about China, winter demand

Oil prices eased on Thursday as worries over demand due to a seasonal slowdown during winter and an uncertain economic outlook for China outweighed expectations of tighter supplies ...

10:00 Et September 7, 2023

Reuters: China to launch $40 billion state fund to boost chip industry

China is set to launch a new state-backed investment fund that aims to raise about $40 billion for its semiconductor sector, two people familiar with the matter said, ...

11:42 Et September 5, 2023

Saudi Aramco considers selling $50 billion in shares

Saudi Aramco is considering selling a stake worth as much as $50 billion through a secondary share offering on the Riyadh bourse after consultations with advisers, the Wall Street ...

10:42 Et September 3, 2023

Oil up as markets await US Fed Chair speech

Oil prices saw a limited rally on Friday ahead of US Federal Reserve (Fed) Chairman Jerome Powell's speech due later in the day. International benchmark Brent crude traded at $83.92 per barrel at 10.30 a.m. local time (0730 GMT), a 0.67% rise from the closing price on Thursday of $83.36 per barrel. The American benchmark ...

10:20 Et August 25, 2023

BRICS invites six nations to join developing world bloc

Leaders of the BRICS group of developing nations have invited Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates to join, in a move aimed at ...

10:45 Et August 24, 2023
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