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Tag Archives: oil prices

Mideast M&A deals decline sharply in Q1 2018

Merger & acquisition deals across the Middle East and North Africa (Mena) region declined sharply year-on-year, falling 21.8 per cent in the first quarter of 2018, according to EY’s first-quarter 2018 M&A report. Mena M&A activity saw 93 announced deals in the first quarter of 2018, compared to 119 deals …

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Shale boom to keep oil markets under pressure

Oil markets are expected to remain pressured throughout 2018 due to a rise in shale production, experts said. Oil prices are currently trading higher due to the strict implementation of an output cut agreement by the Organisation of Petroleum Exporting Countries (Opec) and non-Opec members, which seeks to lower global …

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RAK Petroleum back in profit

Ras Al Khaimah Petroleum, a UK-based company operating oil and gas concessions in the Middle East and Africa, said on Monday it had returned to profitability, posting a net profit of $54.8 million (Dh201 million) for the financial year 2017. A year earlier, the company reported a net loss of …

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Mohammad announces new economic stimulus plans

Dubai on Saturday announced new economic initiatives, including setting up a consultative council that will include international companies, to boost the emirates’s economy. His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, tweeted that the stimulus plans also include proposals …

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Fuel prices in UAE for April 2018

he Ministry of Energy and Industry has announced new petrol prices for the month of April in the UAE. The prices announced on Wednesday include VAT (5 per cent). The per-litre fuel prices for April are as follows: Super 98 — Dh2.33 (Dh2.33 in March), Special 95 — Dh2.22 (Dh2.22 in March), E-Plus …

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Big banks accept Opec was right as they embrace oil near $80

Wall Street’s biggest banks have changed sides and are embracing a surge in oil prices. Goldman Sachs Group Inc, Morgan Stanley and JPMorgan Chase & Co. have all issued a flurry of bullish forecasts in the past fortnight. They’ve abandoned their scepticism and are accepting that Opec’s output cuts are …

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