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The United Arab Emirates is slashing its working week to four-and-a-half days and moving its weekend from Fridays and Saturdays to Saturdays and Sundays, in a move aimed at better aligning its economy with global markets. The oil-producing Gulf state, the region''s commercial, trade and tourism hub, currently has a Friday-Saturday weekend. As of Jan. 1, 2022, the new weekend would start on Friday afternoon. The UAE has in the past year taken measures to make its economy more attractive to foreign investment and talent at a time of growing economic rivalry with neighbouring Saudi Arabia. A government statement said the move would ensure smooth financial, trade and economic transactions with countries that follow a Saturday-Sunday weekend, facilitating stronger international business links and opportunities for thousands of UAE-based and multinational companies. Friday is a weekly holiday in many predominantly Muslim countries. The statement said that under the new work week for government entities, Friday working hours would end at 12 noon, ahead of Friday sermons and prayers.

Daily Market Comment Stocks rally, dollar slips as Omicron fears subside, China eases policy Wall Street bounces back as investors shrug off inflation and Omicron concerns US yields also rebound but dollar pressured by improved sentiment Aussie climbs on upbeat RBA, Oil rally lifts loonie, BoE uncertainty caps pounds gains Risk appetite returns as Omicron gloom recedes further Equity markets were in a buoyant mood on Tuesday following a strong rebound on Wall Street yesterday. US stocks staged an [..]

Yemen''s Houthi movement said on Tuesday it fired several ballistic missiles and 25 armed drones into Saudi Arabia, targeting Aramco oil facilities in Jeddah and the defence ministry in Riyadh. The Saudi-led coalition fighting the Houthis in Yemen said late on Monday that one missile had been intercepted over the Saudi capital, where residents reported loud blasts.

Over the last week, things have gone from bad to worse for the Norwegian krone. However, economists at Nordea believe that we are near the top in both

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Aditi Tandon Tribune News Service New Delhi, December 6 Electric vehicle (EV) sale last year was less than 1 per cent compared to that of internal combustion engine vehicles posing massive challenges for the country''s COP21 pledge to reduce the carbon footprint by 33 to 35 per cent by 2030 below 2005 levels. In its report on "Electric and Hybrid Mobility prospects and Challenges in Automobile Industry" tabled in Parliament on Monday, the standing committee on industry expressed concern at the poor uptake of EV sales 2020-21 and asked for urgent midterm course correction to achieve energy transition goals. Engine vehicle sales by volume last year was 1,78,95,224 as against 1,58,575 EVs. This translates into 0.8 per cent EV sales over that of internal combustion engine vehicles. "India, the fifth largest automobile market in the world, is importing crude oil to cover 80 per cent transport fossil fuel needs thereby draining the exchequer and increasing pollution from engine vehicles. The EV ecosystem is still in its nascent stage.

Iraq’s oil minister said on Monday that he expects oil prices to reach over $75. Ihsan Abdul-Jabbar added in a televised interview with state TV, that OPEC is trying to “control the energy market, in a positive way” that maintains the interests of all parties, consumers and producers. Abdul-Jabbar also said that current oil prices […]

The Biden administration’s efforts to lower energy costs takes a step forward Monday, with bids due for the first 32 million barrels of crude planned for release from federal stockpiles.

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By Yvonne Atilego The Ghana Private Road Transport Union (GPRTU) has suspended its nationwide strike, which took effect Monday, December 6, 2021. The strike was to compel the government to reduce the price of fuel in the country. According to the Transport Operators the hikes in petroleum prices are negatively affecting their work and they []

The Scottish Secretary has insisted there should continue to be oil exploration projects in the North Sea.

Oil partially recovered on Monday, climbing towards $72 a barrel with reports of Omicron being milder than first feared.

Guardian: The largest oil and gas companies made a combined $174bn in profits in the first nine months of the year as gasoline prices climbed in the US, according to a new report. The bumper profit totals, provided exclusively to the Guardian, show that in the third quarter of 2021 alone, 24 top oil and [] The post Blockbuster: Oil companies profits soared to $174bn this year as US gas prices rose first appeared on Veterans Today | Military Foreign Affairs Policy Journal for Clandestine Services .

eCommerce Automotive Aftermarket Market Research Report by Type (Braking, Filters (air, oil and cabin air), and Gaskets), by Distribution Channel (3rd Party Stand Alone e-tailer, Direct to Customer, and Marketplace), by Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2026 - Cumulative Impact of COVID-19 eCommerce Automotive Aftermarket Market Research Report by Type (Braking, Filters (air, oil and cabin air), and Gaskets), by Distribution Channel (3rd Party Stand Alone e-tailer, Direct to Customer, and Marketplace), by Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2026 - Cumulative Impact of COVID-19