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SA pushes for extension of US tariff deadline

SA pushes for extension of US tariff deadline

The South African government, through department of trade, industry and competition, has said they are pushing for the United States’ 90-day tariff hike deadline to be pushed further. The deadline ends on Wednesday. The department said the...

Expert calls for interagency, intergovernmental cooperation to regulate crypto industry

Expert calls for interagency, intergovernmental cooperation to regulate crypto industry

Singapore recently ramped up its crypto exchange regulations in a bid to curb money laundering and boost market confidence after a series of high-profile scandals rattled the sector. (Envato Elements pic) PETALING JAYA: A cryptocurrency expert is...

LG Electronics to work with Saudi Arabia to develop HVAC solutions for high-temperature regions

LG Electronics to work with Saudi Arabia to develop HVAC solutions for high-temperature regions

LG Electronics, Korea's leading home appliance maker, said Sunday it will join hands with Saudi Arabia to develop heating, ventilation and air conditioning (HVAC) solutions for regions prone to extreme heat. LG Electronics has decided to conduct a...

‘The Destination’ Documentary Explores Recent Developments Across Saudi Arabia

‘The Destination’ Documentary Explores Recent Developments Across Saudi Arabia

The Saudi Ministry of Media’s Konoz initiative has launched “The Destination” documentary film exploring recent developments across Saudi Arabia’s political, economic, medical, sports, cultural, media, and artistic fields while highlighting...

OPEC Approves 548,000 Bpd Oil Output Boost for Eight Members, Excludes Nigeria

OPEC Approves 548,000 Bpd Oil Output Boost for Eight Members, Excludes Nigeria

The Organisation of Petroleum Exporting Countries and its allies (OPEC) on Saturday gave the go-ahead to eight of its members and allies, excluding Nigeria, to pump an additional 548,000 barrels per day starting in August. The increase, which is...

Aircraft Interiors industry development summary: May/Jun-2025 - A320 Family business class insight

Aircraft Interiors industry development summary: May/Jun-2025 - A320 Family business class insight

This regular CAPA - Centre for Aviation report provides a summary of major developments in the aircraft interiors sector, supported by data from the CAPA Aircraft Interiors Database and CAPA News. This edition covers May-2025 and Jun-2025 and...

Nigeria Missing as OPEC Agrees to Pump 548,000 Bpd Additional Crude Oil in August

Nigeria Missing as OPEC Agrees to Pump 548,000 Bpd Additional Crude Oil in August

Emmanuel Addeh in Abuja The Organisation of Petroleum Exporting Countries and its allies (OPEC) yesterday gave the go-ahead to eight of its members and allies, excluding Nigeria, to pump an additional 548,000 barrels per day starting in August....

Saudi Industry Minister Launches Second Phase of Saudi-Omani Industrial Integration

Saudi Industry Minister Launches Second Phase of Saudi-Omani Industrial Integration

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef and Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef launched the second phase of industrial integration between Saudi Arabia and Oman,...

Nigeria Left Out As OPEC+ Approves 548,000 bpd Production Increase For August

Nigeria Left Out As OPEC+ Approves 548,000 bpd Production Increase For August

Nigeria has been excluded from the list of Organisation of Petroleum Exporting Countries and its allies (OPEC+) members permitted to increase oil production in August 2025. This was the outcome of a virtual meeting held on Friday by eight key...

Saudi Crown Charts Tourism Surge Ahead of 2034 Boom

Saudi Crown Charts Tourism Surge Ahead of 2034 Boom

Global tourism is projected to reach 30 billion trips by 2034 and contribute $16 trillion to world GDP, growing 1.5 times faster than the global economy, according to the World Economic Forum’s latest report. Amid this surge, Saudi Arabia is...

Saudi FM in Moscow urges permanent ceasefire in Gaza

Saudi FM in Moscow urges permanent ceasefire in Gaza

Saudi Foreign Minister Prince Faisal bin Farhan said on Friday that reaching a permanent ceasefire in Gaza is the top priority, during a joint press conference with Russian Foreign Minister Sergey Lavrov in Moscow. Prince Faisal is on an official...

OPEC+ announces quicker-paced oil output increase

VIENNA, July 5 (Xinhua) -- OPEC and its allies, collectively known as OPEC+, announced the decision on Saturday to increase oil output by 548,000 barrels per day (bpd) in August, a faster move compared with July. In July, the OPEC+ countries saw...

Saudi Arabia and UAE Non-Oil Private Sectors Thrive Despite The Volatile Middle East Geopolitics

Saudi Arabia and UAE Non-Oil Private Sectors Thrive Despite The Volatile Middle East Geopolitics

July 5, 2025 | Dubai, UAE – UAE non-oil private sector continues to perform and display growth, although that growth has remained steady but modest, mainly impacted by the unprecedented Middle East geopolitics in 2025. The 12-day Iran-Israel war...

OPEC+ to boost oil output by 548,000 bpd starting August

OPEC+ to boost oil output by 548,000 bpd starting August

2025-07-05T17:49:57+00:00 font Enable Reading Mode A- A A+ Shafaq News – Vienna OPEC announced on Saturday that eight key oil producers will accelerate the lifting of voluntary production curbs, agreeing to boost output by 548,000 barrels per day...

Opec plus to raise production by 548,000 bpd in August

Opec plus to raise production by 548,000 bpd in August

Opec+ agreed yesterday to raise production by 548,000 barrels per day in August, further accelerating output increases at its first meeting since oil prices jumped – and then retreated – following Israeli and US attacks on Iran. The group, which...

Saudi Arabia, OPEC+ members move toward output hike at meeting

Saudi Arabia, OPEC+ members move toward output hike at meeting

Saudi Arabia, Russia and six other key members of the OPEC+ alliance will discuss crude oil production on Saturday, with analysts expecting the latest in a series of output hikes for August. The wider OPEC+ group - comprising the 12-nation...

Oil Prices Lower on a Report US-Iran Nuclear Talks Will Restart

Oil Prices Lower on a Report US-Iran Nuclear Talks Will Restart

Oil tanker in open sea by StockStudio via Shutterstock August WTI crude oil (CLQ25) on Thursday closed down -0.45 (-0.67%), and August RBOB gasoline (RBQ25) closed down -0.0043 (-0.20%). Oil prices on Thursday fell after Axios reported that the US...

Indonesia, Saudi Arabia ink $27b deals in energy, mineral sectors

Indonesia, Saudi Arabia ink $27b deals in energy, mineral sectors

ndonesia and Saudi Arabia have sealed US$27 billion in private sector deals across various fields, including clean energy, petrochemicals and aviation fuel services. The agreements were signed on Wednesday at Al-Salam Palace in Jeddah, where...

OPEC+ to Boost Supply Even Faster with Larger August Hike

OPEC+ to Boost Supply Even Faster with Larger August Hike

OPEC+ will increase oil production even more rapidly than expected next month, as the group led by Saudi Arabia seeks to capitalize on strong summer demand in its move to reclaim market share. Eight key alliance members agreed to raise supply by...

OPEC+ to ramp up oil output even higher in August with eye on market share

OPEC+ to ramp up oil output even higher in August with eye on market share

Saudi Arabia, Russia and six other key members of the OPEC+ alliance on Saturday said they would further increase oil output in August to 548,000 barrels per day. Analysts had expected the alliance to decide on another output increase of 411,000...

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