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New technology 'vital'

MANAMA: Global energy systems that adapt to our changing world need increased investment in leading technology, Finance Minister and Minister in Charge of Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa said at an industry event yesterday.

According to the minister, most of the oil wel...ReadMore


Alba expansion set next year

MANAMA: Work on Alba's proposed sixth production line, estimated to cost $2.5 billion, is expected to start early next year, Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa said yesterday.

Wall Street indexes hit new high

NEW YORK: US stocks rose yesterday boosted by tech shares, with the S&P 500 and Dow industrials closing at records, while the energy sector was once more the largest weight on the market as crude prices continued to flirt with multi-year lows.

HSBC to refund customers in Middle East

DUBAI: HSBC will refund customers across five countries in the Middle East and North Africa, including Bahrain, for charging them excessive foreign currency fees on debit and credit card transactions, the lender confirmed yesterday.

Sustainable energy unit for Bahrain to be set up

MANAMA: The Electricity and Water Authority and the United Nations Development Programme (UNDP) have come together to establish the Bahrain Unit for Sustainable Energy.

Saudi won't seek Opec changes

VIENNA: Opec leader Saudi Arabia and fellow member UAE yesterday signalled they were unlikely to push for a major change in oil output at the group's meeting this week to prop up prices that have sunk by a third since June.

Stimulus move boosts Euroshares

PARIS: European shares inched higher yesterday, with Germany's blue chip DAX index advancing for the 10th session in a row as investors bet on further monetary stimulus from the European Central Bank (ECB).

Rate cut hopes lift Sensex

MUMBAI: The BSE Sensex and Nifty edged up yesterday, gaining for a fourth session in five, led by blue chips on continued hopes the central bank would follow other countries such as Japan and China in easing monetary policy to boost economic growth.


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