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Oil plunges to eight-month low on strong dollar

NEW YORK, Sept 24 (Reuters): Oil prices plunged about 5 per cent to an eight-month low on Friday as the US dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession, cutting demand for oil.Brent futures fell $4.31,...

Etihad's Tony to head Saudi Arabia's new airline RIA

RIYADH, Sept 24 (Arab News): Saudi Arabia's new global airline RIA will be headed up by Etihad's Tony Douglas, Arabian Business reported citing industry sources.Talks between RIA and Etihad's CEO were announced on Sept. 8, and now Douglas has agreed to join the new airline after being in charge of...

TotalEnergies adds $1.5b to Qatar's gas expansion

DOHA, Sept 24, 2022 (AFP): France's TotalEnergies on Saturday signed a further $1.5 billion investment in Qatar's natural gas production expansion, which comes as Europe scrambles to find new energy sources to replace Russian supplies.The French energy giant will have 9.3 per cent stake in the North Field South gas...

Qatar Airways bags Airline of the Year Award for 7th time

Qatar Airways has won the Airline of the Year award, known as "the Oscars of the aviation industry," for a record seventh time at the Skytrax World Airline Awards 2022, reports UNB.At the event in London Friday, the airline also took home three additional awards, including World's Best Business Class,...

Gold rate at six-month low

NEW DELHI, Sept 24 (PTI): On account of dollar index climbing to two decades high and Indian National Rupee (INR) hitting its record low, multi commodity exchange (MCX) gold rate and spot gold price witnessed sharp fall on Friday session.The October contract for the yellow metal price on MCX ended...

India's Russian thermal coal imports set to fall for first time

NEW DELHI, Sept 24 (Reuters): India's thermal coal imports from Russia are expected to fall for the first time in four months in September, two research consultancies said, potentially resulting in lower revenues for Moscow at a time it is mobilising more troops to fight in Ukraine.Indian consultancy Coalmint expects...