Author: News Desk

Oil prices were steady on Thursday after steep losses in the previous two sessions, as investors returned their focus to tight supply even as fears of a global recession persisted. Brent crude futures rose 14 cents, or 0.1%, to $100.83 a barrel by 0900 GMT. WTI crude futures climbed 21 cents, or 0.2%, to $98.74 a barrel. Prices swung between about $2 in losses and gains of nearly $1 in volatile trade. “Recession fears continue to grow and that obviously does raise some concerns for the demand outlook,” said Warren Patterson, ING’s head of commodity research. “However, supportive fundamentals should…

A spike in listing applications from Chinese companies in June has nearly doubled China’s IPO candidates to almost 1,000, the highest in at least three years, potentially making the country a bright spot for bankers as equity offerings slow in other markets. The rush was partly due to China’s easing of COVID curbs last month, bankers say. The IPO hopefuls also scrambled to submit their applications by June 30 to avoid having to refresh them with first-half results and further delay the process. In IPO applications, “financial data has a life of six months, which is why you typically see…

Bahrain Odia Samaj and ISKCON celebrated Rathyatra in Shrinathji Temple, Manama, with great pomp and show under the leadership of Dr Arun Kumar Praharaj marking the occasion under the banner of Azaadi Ka Amrit Mahotsav and India@75. The program was graced by Representative Indian Ambassador, Second Secretary Mr Ravi Jain and Ambassador of Nepal Mrs Aruna Ghising. In view of 50 years of India Bahrain Diplomatic relationship this year, Shaikh Salah Al Jowder and Journalist Ms Afaq of King Hamad Global centre for peaceful coexistence were invited to this grand occasion. Shaikh Al Jowder delightfully pulled the sacred Chariot of Lord Jagannatha…

The Labor Market Regulatory Authority (LMRA) conducted an inspection campaign in Muharraq Governorate, in cooperation with the Nationality, Passports and Residence Affairs of the Ministry of Interior and Southern Governorate Directorate that included a number of Governorate work sites. The campaign resulted in violations of LMRA’s Law and Immigration authority, and necessary legal action were taken. The campaigns reflect the LMRA, MOI’s efforts and other government bodies for the betterment of work environment. In addition to addressing LMRA close monitoring level in practices that affect the competitiveness, flexibility and justice of the labor market, not to mention their negative impact…

World Health Organization (WHO) Eastern Mediterranean Regional Director Dr. Ahmed Al Mandhari awarded Bahrain’s National Committee to Control Smoking and All Types and Products of Tobacco with WHO’s World No Tobacco Day 2022 Award. Al Mandhari pointed out to the advanced level achieved by Bahrain under the leadership of His Majesty King Hamad bin Isa Al Khalifa in the field of health and medical care and the role of the esteemed government headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister for his support through the advanced level of health care during COVID-19. “This award comes as a result of the Kingdom’s…

Emiratis dominated this year’s list of the Top 100 CEOs in the region, with Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC), and HH Shaikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group, coming second and third respectively. According to Forbes, this year’s list consists of leaders from 26 nationalities. Banking and financial services is the most represented sector on the list with 27 CEOs,…

British Prime Minister Boris Johnson was clinging to power on Wednesday, gravely wounded by the resignation of ministers who said he was not fit to govern and with a growing number of lawmakers calling for him to go. Johnson’s finance and health secretaries quit on Tuesday, along with several in more junior roles, saying they could no longer stay in government after the latest in a series of scandals blighted his administration. With mounting calls for Johnson to go, he showed his determination to stay in office by appointing businessman and education minister Nadhim Zahawi as his new finance minister,…

The secretary general of oil producers group OPEC, Mohammad Barkindo, has died, the boss of Nigerian National Petroleum Corp (NNPC) announced on Wednesday. Barkindo, 63, a veteran of the oil industry, was due to step down at the end of this month after six years in the top job at the Organization of the Petroleum Exporting Countries (OPEC). “We lost our esteemed Dr Muhammad Sanusi Barkindo,” NNPC CEO Mele Kyari wrote on Twitter, adding that he died late on Tuesday. The death is a “great loss to his immediate family, the NNPC, our country Nigeria, the OPEC and the global…

China is fighting nascent COVID-19 flare-ups across the country with mass testing and fresh restrictions, including in weary Shanghai where new cases have been linked to a building which houses a karaoke lounge that was operating illegally. Pressure is mounting on officials to avert a wider spread and disruptions similar to the painful and costly isolation that Shanghai, China’s most populous city, suffered in April and May. “Several Chinese areas are facing local outbreaks and infections have emerged at the community level in Shanghai, to which we should attach great importance,” city health official Zhao Dandan told reporters on Wednesday.…

Ukrainian defenders fought desperately to withstand a major Russian offensive in the Donetsk region, with the enemy laying down heavy artillery fire to pave the way for ground forces to advance, a senior Ukrainian official said on Wednesday. After Russian forces on Sunday took control of Lysychansk, the last bastion of Ukrainian resistance in Luhansk, Ukraine’s military braced for an assault on Donetsk, with the cities of Sloviansk and Kramatorsk both in the Russian line of fire. Donetsk and Luhansk comprise the Donbas, the industrialised eastern part of Ukraine that has seen the biggest battle in Europe for generations. There…