Saudi Arabia Financial News

vessel transporting crude oil to India from Saudi Arabia caught fire off the Porbandar coast on Saturday, with a drone attack being suspected behind the incident. Indian Coast Guard and Navy assets have responded to the stricken vessel, which has reported that the fire has been put out but has caused unspecified damage that has impacted its functioning. Citing British maritime security firm Ambrey, an agency report said the vessel was affiliated with Israel and was struck by an uncrewed aerial vehicle. Officials said that Merchant Vessel (MV) Chem Pluto that was on its way to Mangalore from Jubail in Saudi Arabia when the incident took place.

Indian Navy warship is reportedly moving towards the distressed merchant vessel and is expected to reach the merchant ship in the next few hours. -An Israel-linked merchant ship, MV Chem Pluto, carrying crude oil was going towards Mangalore from a port in Saudi Arabia -The merchant ship carrying a large crew fleet, including 20 Indians, caught fire when hit by a suspected drone strike -The merchant vessel was reported to be present at 217 nautical miles off Porbandar coast, defence officials said -The Indian Coast Guard Ship ICGS Vikram, deployed on patrol of the Indian Exclusive Economic Zone started moving towards the merchant vessel MV Chem Pluto in distress -The Indian Navy warships in the vicinity are also moving towards the distressed vessel with around 20 Indian crew members, who are all reported to be safe -Indian Coast Guard Dornier maritime surveillance aircraft has established communication with the distressed vessel MV Chem Pluto.

AFP quoted two maritime agencies. One of the vessels is an Israel-affiliated merchant ship, which was struck by the unmanned drone, causing a fire, within the vessel in the Arabian Sea off India's west coast. Indian Defense officials said that Indian Coast Guard ship ICGS Vikram is moving towards a merchant vessel MV Chem Pluto in the Arabian Sea, 217 nautical miles off Porbandar coast, after it reported a fire incident suspected to be caused by a drone attack.

The world of football is witnessing a remarkable fusion of sports and digital innovation with the upcoming FIFA Club World Cup Saudi Arabia 2023™. In a groundbreaking move, FIFA+ Collect, in collaboration with the technology firm Modex, is set to release an exclusive digital collectible series. This initiative marks the beginning of a new partnership that melds the excitement of football with the cutting-edge realm of digital collectibles.

ALSO READ: Rise of pirates in Red Sea to take toll on India’s exim business. Here are items that will turn costlier Maritime security firm Ambrey also informed that the “Liberia-flagged chemical/products tanker... was Israel-affiliated." ALSO READ: Red Sea News-Shipping Corp, other shipping, ports in focus as Red Sea route gets disrupted "Some structural damage was also reported and some water was taken onboard.

Angola says it’s leaving the OPEC oil producers cartel, coming after it battled with the group over lower production quotas this year

Russia continued to be the top source for India’s oil imports in October, accounting for nearly 30% of the crude brought into the country, official data showed. At $3.78 billion, the value of the crude oil supply from Russia increased 44% year-on-year (y-o-y) in October from $2.62 billion in October 2022. On a sequential basis, too, crude imports from that country increased 9% from $3.48 billion in September 2023, commerce ministry data showed.

Sony Sports Network has appointed Bollywood’s Gen Z superstar and youth icon Kartik Aaryan as their brand ambassador for football. During his partnership with Sony Sports Network, Kartik will be seen promoting LIVE football action on Sony Sports Network around the year with 900+ matches from marquee football tournaments and leagues, which include UEFA EURO 2024, UEFA Champions League, UEFA Europa League, UEFA Conference League, UEFA Nations League, Bundesliga, Emirates FA Cup, Durand Cup, and Roshn Saudi League, amongst others. Kartik Aaryan, who has enthralled audiences with stellar performances on the silver screen, is also known for his enthusiasm and fandom for the game of football. His love for the game began at an early age, and he is a dedicated Real Madrid fan, the most successful club in the history of the UEFA Champions League. Rajesh Kaul, Chief Revenue Officer of distribution and international Business, and Head of Sports Business, at Sony Pictures Networks India, said: “It gives us immense pleasure to announce Kartik Aaryan as the Brand Ambassador of football on Sony Sports Network.

But who are these Houthi rebels attacking ships in the Red Sea, what do they want? Let's take a deep dive into the crisis: Houthi rebels are backed by Iran. They seized Yemen's capital, Sanaa, in 2014, launching a grinding war. They are formally known as Ansar Allah, or the “partisans of God." As of now, the Yemeni rebel group controls the west of the country, including its Red Sea coast, the Guardian reported.

hijacked in the Middle Eastern sea with 25 people on board by Houthi rebels. This disruption is significant as approximately 12 percent of global shipping traffic navigates through the Red Sea and the Suez Canal.

Jindal Stainless (JSL) has soared the most, over 130 percent, followed by Welspun Corp, which rallied 124 percent in 2023 YTD. The surge in JSL comes on the back of exceptional earnings performance. In the September quarter, the company's net profit rose 120 percent to ₹764 crore against a net profit of ₹347 crore in the September 2022 quarter.

energy transition over the next decade isn’t technology or politics. It’s money. Reconfiguring the world’s power systems to eliminate carbon emissions is going to be a multi-trillion dollar investment project.

FIFA Club World Cup 2023 final in Saudi Arabia after defeating Japanese club Urawa Red Diamonds. The reigning Premier League and UEFA Champions League champion will face Brazilian club Fluminese in the summit clash. Ahead of the FIFA Club World Cup 2023 final, there will be a third-place match between Al Ahly and Urawa Red Diamonds. That match will take place on Friday, December 22 at 9.30 am (ET).

Heritage Foundation senior fellow Brent Sadler reacts to BP pausing Red Sea oil shipments after Houthi attacks on 'Varney & Co.'

Kapture CX, a customer support platform for enterprises, has raised $4 million from India Alternatives, a private equity fund. The Bengaluru-based startup has been expanding on-ground operations in five countries: the US, the UAE, Indonesia, Saudi Arabia and India.

At the dawn of 2023, the specter of Saudi Arabia’s growing influence on pro golf — and sports in general — served not only as a moral conundrum for players and their fans, but also, some argued, as an existential threat to the multibillion-dollar profe...

NEW DELHI : Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, on Monday announced a complete integration of the acquired Vitaris’ biosimilars business in 120 countries, a year ahead of schedule. The firm had acquired the American pharmaceutical company’s biosimilars business in November 2022.

Investing.com — Oil prices settled higher Monday as concerns about a supply surplus were eased after Russia said it would make deeper crude export cuts, and attacks by the Houthis on ships in the Red Sea stoked worries about supply disruptions.

Hindustan Times quoted IndiGo's statement. ALSO READ: IndiGo, India’s muscular airline, will shrink in January and there is little it can do Speaking on the occasion, Mr.

By Ahmad Ghaddar

Biocon Biologics completes integration of Viatris' biosimilar business in 120 countries Biocon Biologics on Monday said it has completed integration of the acquired Viatris' biosimilar business in 120 countries, a year ahead of schedule. The company said over 10 emerging markets along with Japan, Australia and New Zealand have transitioned in this final phase of the integration of the biosimilars business acquired from Viatris. With the completion of this significant milestone, Biocon Biologics is now a fully integrated ‘lab to market’ biosimilars company committed to serving millions of patients across the globe. Around 70 emerging markets were integrated in July, the North America business transitioned in September and the European business in November. Biocon Biologics has made several key leadership appointments, built new capabilities and infrastructure from the ground up and set up dedicated teams to address the growing needs of patients and customers through self-led and partner or distributor-led commercial models. Biocon Biologics will now have a commercial footprint across 120 countries with a direct presence in the US, Canada, Europe and 9 key emerging market countries, namely India, UAE, Saudi Arabia, Morocco, South Africa, Brazil, Malaysia, Thailand, and the Philippines.