The shock verdict has led to a fall of business and investor confidence in the British economy. The fall of the pound has made the UK companies easy picking for foreign companies who have snapped up lucrative deals. The shocking… Read More ›
Economy & Finance
World’s Richest Made $237 Billion, As Populists Won 2016 Ballots
The world’s wealthiest people are ending 2016 with $237 billion more than they had at the start in a year when populist voters reshaped power and politics across Europe and the U.S. According to the Bloomberg Billionaires Index, the biggest fortunes on… Read More ›
Analysts say that OPEC’s Effort to Balance Oil Markets this Year could be Derailed by China
Matt Smith, head of commodities research at shipment-tracking firm ClipperData said that OPEC’s effort to balance an oversupplied oil market could have the unintended consequence of crimping crude demand from China. OPEC’s current strategy would be significantly hurt if there is… Read More ›
Without Deals With Big Oil, Iran’s OPEC Win Lacks Substance
Iran would be among few countries that have benefited as significantly from the oil market’s 2016 recovery. As prices rallied and won approval from OPEC last month to pump even more while other members cut, the Persian Gulf producer has doubled… Read More ›
U.S. Nuclear Acquisition Makes Toshiba Signal Hit of ‘Billions of Dollars’
In a shock warning that sent its stock tumbling 12 percent and rekindled concerns about its accounting acumen, Toshiba Corp said it may have to book several billion dollars in charges related to a U.S. nuclear power acquisition. Potentially requiring… Read More ›
Boeing bags IranAir deal by giving 50% discount
Following the partial lifting of U.S. led sanctions, Iran presents itself as a huge economic opportunity. While Boeing’s deal has been made possible by outgoing U.S. President Barrack Obama, President-elect Donald Trump is a huge critic of the U.S-Iran nuclear… Read More ›
Iran opens its North Azadegan and Yadavaran oilfields for development
These oilfields were initially developed by Chinese companies, such as Sinopec and China National Petroleum Corp, however following their lackluster performance which were found wanting, Iranian officials have now thrown open the doors to international players. A per a senior… Read More ›
As Low Oil Signals Boom Days Over, Bank Mergers Spread in Mideast
2016 has been all about consolidation for oil-rich Persian Gulf states, Cutting of state spending, tapping reserves and combining some of their largest banks to reduce costs and duplication has been forced in countries such as the United Arab Emirates,… Read More ›
Mexico’s Record Fuel Imports Results in U.S. Refiners Cashing in
Shipping record volumes to a southern neighbor that has failed to expand its refining network to supply a fast-growing economy, U.S. Gulf Coast refiners are cashing in on rising fuel demand from Mexico. Providing business worth more than $15 billion… Read More ›
As it Cuts into Huge State Deficit, Saudi Arabia to Boost 2017 Spending
Saudi Arabia said on Thursday that it will increase government spending in 2017 to boost flagging economic growth after it ad successfully cut into its huge state budget deficit this year. In 2016, the deficit shrank to 297 billion riyals… Read More ›
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