Tag Archives: prices

Iraq affirmed its commitment to the OPEC+ oil production cut deal but asked the group to take into consideration the members’ economic situation in sharing the burden of future cuts, Iraqi Finance Minister Ali Allawi said on Sunday. “We are seeking to set new rules in future over sharing burden …

Recent negotiations involving leaders from major oil-producing nations and the United States will prove irrelevant for oil prices, which are low because of depressed demand, the chief executive of Brazil’s Petrobras said on Thursday evening. During an online event hosted by Brazilian brokerage XP, Petrobras CEO Roberto Castello Branco said …

Opec and no-Opec members including Russia have decided there will be not be any additional increase in supply to offset falling Iranian oil exports in a rebuff to US president Donald Trump’s calls for increasing output to bring down oil prices. Ministers and officials from the Organisation of the Petroleum …

Opec and its allies are pumping half a million barrels a day below the target they set two months ago as output drops in countries from Iran to Venezuela. The group is currently over-complying by 29 per cent, meaning it’s pumping less than it pledged. While there won’t be any …

The world’s oil consumption will top 100 million barrels per day (bpd) in the next three months, putting upward pressure on prices. But emerging market crises and trade disputes could dent this demand, the International Energy Agency (IEA) said. Paris-based IEA maintained its forecast of strong growth in demand this …

Apple Inc, the world’s most valuable company, said proposed US tariffs on $200 billion (Dh734.6 billion) worth of products imported from China will raise prices for some of its popular consumer goods such as the Apple Watch and AirPods headphones. The Mac mini desktop computer, Apple Pencil stylus accessory for …

The oil price rose towards its highest since early July on Tuesday, thanks to evidence of still-modest increases in output from the Organisation of the Petroleum Exporting Countries (Opec) and improving Chinese refining demand. Brent crude oil futures were at $76.65 (Dh281.53) a barrel by 0913 GMT, up 44 cents …

Oil held gains near $66 (Dh242.22) a barrel on signs of slowing growth in US crude production. Futures in New York were steady after a 0.7 per cent rise on Friday. Working oil rigs in the US were unchanged at 869, according to data from Baker Hughes on Friday. While …

Fears about global oil supplies have receded after producers pumped more, according to the International Energy Agency, which had warned of a potential shortage a month ago. “Concerns about the stability of oil supply have cooled down somewhat, at least for now,” the Paris-based agency — which advises most of …

Pharmacies in Abu Dhabi have been told to dispense generic medicines to all patients and people who prefer a specific brand will have to pay the difference in price, according to a new decision by the health industry regulator. A new regulation now mandates the dispensing of generic medicines as …

The UAE Cabinet on Sunday has approved a decision pertaining to the refund of VAT on organisations involved in organising exhibitions and conferences. The decision stipulates that facilities operating in the exhibitions and conferences sector are entitled to refund VAT imposed on the provision of services required for setting up …

Almost all, or 98.9 per cent, of the companies in the UAE required to file tax returns have done so on time. according to Khalid Al Bustani, director-general of the Federal Tax Authority (FTA). However, Al Bustani, who spoke to media to mark the first 100 days of VAT in …

Consumers in the UAE are becoming more cost-conscious and less brand-loyal, according to a recently released survey. Shoppers in Saudi Arabia and the UAE felt that they were forced, over the last two years, to make adjustments to their spending habits, and now feel more confident about spending disposable income, …

Last week the Dubai Financial Market General Index (DFMGI) fell by 172.43 or 4.76 per cent to close at 3,449.81, that’s the largest one-week decline since May 2016 and the lowest close in 18 weeks. Most issues fell as there were 34 declining and only eight that advanced, while volume …