You don’t have to “drill, baby, drill” to get more oil out of the ground—which is something Fortune 500 company Chevron and the overall U.S. energy sector have figured out over the years. Hydraulic fracturing and horizontal drilling unlocked the shale boom that has transformed the global energy landscape over the past decade, and fresh innovations are […]
Warren Buffett’s Berkshire Hathaway Inc. continued whittling a longtime bet on Bank of America Corp. in last year’s final months, while keeping a stake in Apple Inc. intact following an earlier reduction. The Omaha, Nebraska-based conglomerate cut its stake in the bank to 8.9% in the fourth quarter after selling 117.5 million shares, a regulatory filing on Friday shows. Bank of […]
Policymakers, economists, and industry leaders will gather in Saudi Arabia next week for the AlUla Conference for Emerging Market Economies, where discussions will focus on global economic shifts, challenges, and the growing influence of artificial intelligence in driving growth. The event, set for Feb. 16-17, is a joint initiative between Saudi Arabia’s Ministry of Finance […]
Saudi Arabia holds the largest share of the Gulf Cooperation Council’s debt capital market, with 44.8 percent of outstanding issuances, according to Fitch Ratings. The US-based agency claims the GCC’s total DCM surpassed the milestone of $1 trillion at the end of January, reflecting a 10 percent year-on-year growth across all currencies. Saudi Arabia, alongside […]
For Soroban Capital Partners founder Eric Mandelblatt, the future growth of stock-picking hedge funds won’t come from hedging. Institutional investors such as pensions and endowments are increasingly putting their money into large, market-neutral multistrategy funds and long-only funds that only bet on stocks rising, according to Mandelblatt. Those investors choose long-only funds because they’ve struggled […]
The cryptocurrency business has resumed its trade today on a positive note, despite the latest CPI numbers being a pain point. Talking about numbers, the total market cap has shot up by 3.10% in the past 24 hours to $3.22 trillion. The trading volume has risen by 22.27% to $129.29 billion, suggesting growing interest among […]
Bitcoin’s market is showing signs of a potential price shift as miners enter a phase of “capitulation.” This phase is identified by the hash ribbon indicator, which tracks the 30-day and 60-day moving averages of Bitcoin’s hashrate. When the 30-day moving average dips below the 60-day average, it signals that mining Bitcoin has become financially […]
Morgan Stanley and six other banks sold $4.74 billion of X Holdings Corp. debt, allowing the lenders to finally rid themselves of the bulk of their exposure to the financing they arranged for Elon Musk’s 2022 purchase of the social-media platform. The Wall Street bank had been marketing a $3 billion portion but decided to […]
The average retail price for 5 kilograms of rice surged 82% to 3,688 yen ($24) in the week of Jan. 27th compared with a year ago, according to the Ministry of Agriculture, Forestry and Fisheries. The Japanese government heavily regulates the country’s rice market and imposes significant tariffs on imports. Problems in the distribution system […]
Saudi Arabia’s first fintech unicorn Tabby has doubled its valuation to $3.3 billion following the successful closure of a $160 million series E funding round. The round was led by Hong Kong-based Blue Pool Capital, and Hassana Investment Co., the funding arm of Saudi Arabia’s General Organization for Social Insurance, with participation from STV and Wellington Management. […]