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Oil prices fell about 5% today, on track for their biggest single-session decline in more than six months, after US President Donald Trump announced over the weekend that Iran was in serious talks with Washington to reduce escalation.President Trump said, “I hope they can negotiate something they can accept. We can reach a satisfactory agreement even without nuclear weapons.”Brent crude oil futures fell $3.30, or 4.8%, to $66.02 per barrel. U.S. West Texas Intermediate crude oil fell $3.23, or 5%, to $61.98 per barrel.dollar valueOil market analyst Priyanka Sachdeva said continued threats supported oil prices throughout January.”The recent decline has…

Oil prices fell 5% on Monday after US President Donald Trump said Iran was in “serious talks” with Washington and signaled a detente with OPEC members to ease concerns of supply disruptions. Brent crude oil futures fell $3.63, or 5.2%, to $65.69 per barrel as of 9:20 a.m. Japan time. U.S. West Texas Intermediate crude oil fell $3.60, or 5.5%, to $61.61 per barrel. Brent and WTI fell after posting their biggest monthly gains since 2022 in January as the risk of a military attack on Iran receded following President Trump’s comments over the weekend. In January, Brent rose 16%…

The Indian government is holding inter-ministerial talks to raise the cap on foreign direct investment in state-run banks from 20% to 49%, India’s Financial Services Secretary M. Nagaraju told reporters on Monday. Foreign interest in India’s banking industry is growing, as evidenced by, for example, the $3 billion purchase of a 60% stake in private RBL Bank by Dubai-based Emirates NBD. Currently, India allows 74% foreign investment in private banks, but shareholding by a single foreign institution is limited to 15% unless the Reserve Bank of India grants an exemption. Nagaraju said the Asian country plans to more than double…

The NHC National Foundation held its first meeting under the chairmanship of Chairman of the Board Mr. Mohammad Al Baty, members Mr. Yazid Al Nafisa, engineers Mr. Ahmed Al Qarawi, Mr. Yasser Al Huzaimi, Mr. Abdullah Al Mudayfa, Mr. Nawaf Al Tamiat, Mr. Abdul Latif Al Rajhi and Mr. Abdullah. Mr. Al Habib and Mr. Mohammed Al Hudeir at their destination in Khuzam, Riyadh City. Discuss the general framework for the organization’s activities, determine operational priorities, and consider governance and organizational pathways in a way that supports starting operations according to a sustainable institutional approach.The meeting discussed the organization’s goals…

Muscat: The Civil Aviation Authority (CAA) recently unveiled plans for the expansion of Sohar International Airport and the development of a new airport in Musandam. Tenders have been floated for the construction of a new passenger terminal at Sohar Airport. Engineer Salem Al Harashi, head of the airport project team at CAA, said that all studies related to the approved site for Musandam Airport have been completed and that a comprehensive assessment has been carried out in coordination with economic partners. The implementation plan for this project is expected to be approved later this year. Harisi said that the technical…

Sir Peter Mandelson, one of Britain’s Labor Party’s most prominent historical politicians and a shadowy figure of the Tony Blair era, has announced his resignation from membership to avoid “further embarrassment” for the ruling party, in the wake of the revelation of a new batch of Jeffrey Epstein documents released by the US Department of Justice last Friday.Mr Mandelson, 72, said in a letter to Labour’s general secretary Holly Ridley: “This week my name has once again been associated with the well-deserved controversy surrounding Jeffrey Epstein, for which I feel deep regret and remorse.”The famous British politician added: “While I…

Aldar Properties will begin construction of approximately 3,000 new homes in Abu Dhabi this year, with a total development value estimated at AED 23 billion ($6.26 billion), to meet growing housing demand.In a statement to Abu Dhabi Stock Exchange (ADX), the developer said it had acquired a 2.3 million square meter land bank spanning Saadiyat Island and Yas Island.Aldar plans to build luxury housing, including large villas and mansions, on the Saadiyat Island site.The Yas Island parcel will be dedicated to a large-scale master-planned community focused on family living, supported by established retail, entertainment and lifestyle infrastructure.These projects are scheduled…

RIYADH – Saudi Arabia’s real gross domestic product (GDP) recorded a growth rate of 4.5% in 2025 compared to the previous year 2024. The Saudi economy also achieved a growth rate of 4.9% in the fourth quarter of 2025, according to a rapid estimates report released by the General Authority for Statistics (GASTAT) on Sunday. The authorities announced that in 2025, oil-related business achieved the highest growth rate at 5.6%, followed by non-oil-related business at 4.9%, and government-related business recorded a growth rate of 0.9%. Non-oil activities made the largest contribution to real GDP growth, contributing 2.7 percentage points, while…

Israeli security officials announced today (Monday) that they have reopened the Rafah border between Gaza and Egypt to residents of the Gaza Strip in both directions.First day of operation”For now, following the arrival of the European Union Border Assistance Mission (EUBAM) team representing the European Union, the Rafah crossing has been opened for the movement of residents into and out of the country,” the official said.According to Egyptian government media, the Rafah land border crossing will be able to allow 50 people to pass in each direction once it is officially operational.The Cairo News Channel reported that the number of…

According to data from the Department of Statistics, Saudi exports of chemical and related industrial products amounted to approximately 6.62 billion riyals in November 2025, achieving a slight increase of 0.5% compared to the same month in 2024.Limited monthly drawdown On a monthly basis, the sector’s exports decreased by approximately SR 178.2 million, which corresponds to 3% compared to October 2025.export share Exports from the chemical industry account for about 20% of Saudi Arabia’s total non-oil exports, reaching 32.7 billion riyals in November last year.India tops destination India was the top importer of Saudi chemicals, with a value of SR1.58…