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Drilling fluids services contract awarded to ADNOC Drilling for $1.6 billion
To meet the rising global demand for energy, ADNOC Drilling Company has awarded Integrated Drilling Fluids Services (IDFS) a five-year framework agreement valued at up to $1.6 billion. The agreement will help ADNOC expand its lower-cost and…
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PM Modi lays foundation stone for transport aircraft manufacturing project
Indian Prime Minister Narendra Modi has said that India is moving toward becoming a global manufacturing hub with its cost-effective manufacturing capabilities, high-standard comparative environment and ease of doing business. In laying the…
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Obstinate Elon Musk ousts top Twitter executives
Two people familiar with the situation said Thursday night that Elon Musk had taken over Twitter and sacked the company's chief executive, chief financial officer, and top lawyer. According to the Associated Press, the people would not…
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Net profit of Kia in Q3 plunged due to recall costs
A recall of engine-related services forced Kia Corp, South Korea's second-largest automaker, to cut its third-quarter net profit by 60 percent from a year ago. South Korea News Agency (Yonhap) reported that the company's net profit for the…
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Debt levels to be highest in 60 years under new UK leader
The British government's debt has risen to the highest level in almost 60 years last month, and retail sales have slumped, which highlights the scale of the economic challenges that anyone who replaces Prime Minister Liz Truss faces after…
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Annual inflation up to 9.9 percent in the euro area, up to 10.9 percent in the EU
Annual inflation in the euro area rose from 9.1% in August to 9.9% in September 2022. The rate was 3.4% a year earlier. In September 2022, inflation in the European Union was 10.9%, up from 10.1% in August. According to Eurostat, the…
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Big earnings week lifts US stocks, but Tesla sinks
US stocks rose in morning trading Thursday as markets searched for direction amid mixed earnings news. S&P 500 rose 0.8% as of 10:13 AM EST. Dow Jones Industrial Average gained 339 points, or 0.1%, to 30,757, and Nasdaq climbed 1%.…
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Tesla will not overtake Apple in market value – Wall Street analysts
In a report published today by Bloomberg, Wall Street analysts disputed Elon Musk's claim that Tesla Inc. would one day surpass Apple Inc. and Saudi Aramco in valuation. In an article by Bloomberg, the electric-vehicle maker reported poor…
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French cement company Lafarge admits making payments to the Daesh group
Lafarge, a French cement company, admitted Tuesday it paid millions of dollars to Daesh to keep a plant operational in Syria. This was during a time when the militant group enslaved and tortured Westerners. The company agreed to pay…
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Debt forgiveness by late 2023, IMF staff agreement with Somalia
A team from the International Monetary Fund (IMF) reached an agreement with Somalia that will allow the release of about $10 million to that country once it has been approved by the IMF's board, according to the head of the mission of the…
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