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Eurozone finance ministers eyed an up to €100 billion ($125 billion) strings-attached rescue of Spain’s distressed banks at emergency talks on Saturday.
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An exit of Greece from Europe’s monetary union and Spain’s need for financial support to capitalise its banks may trigger additional credit-rating downgrades in the region, Moody’s Investors Service said.
The Online Trading Academy, or OTA, a leading institute for education in foreign exchange, commodities and stock market trading in the region, is currently in talks to start its operations in Oman, according to a top official.
The SmartCity project, which many hope will take Kerala to the “forefront of India’s IT sector”, on Saturday moved close to reality with the inauguration of a state-of-the-art sales pavilion and the launch of work on the main building complex.
LONDON - Saudi Arabia may import soft wheat, in addition to the hard wheat it currently imports, to meet local food demand, opening it up to a wider range of wheat exporters, the kingdom’s Grain Silos & Flour Mills Organisation, or GSFMO, said.
GENEVA - Nigeria-based energy firm Sahara Group has started pumping its first crude oil and plans to expand trading activities in the Middle East and Asia, the chief executive of its trading division said, as the centre of world oil demand shifts east.
KHOBAR- Petrokemya, a subsidiary of Saudi Basic Industries Corp, or Sabic, has signed an initial deal with Spanish oil engineering company Tecnicas Reunidas to build a petrochemical plant in Jubail, Sabic said on Saturday.
DOHA - Qatar’s sovereign wealth fund lifted its stake in miner Xstrata, which is merging with commodities trader Glencore, to over 10 per cent, forging ahead with its recent spate of share-buying in European blue-chip companies.
International Monetary Fund Managing Director Christine Lagarde on Friday urged European leaders to act without delay to overcome the eurozone crisis.
When Germany faces Portugal at the Euro 2012 soccer championship on Saturday, another battle is playing out between sponsors Nike Inc and Adidas AG for the top spot in selling gear for the world’s most popular sport.