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Oil prices rose on Monday, buoyed by positive manufacturing data from China, the largest crude importer, which indicated increased fuel demand. Brent crude climbed to $73.17 a barrel, while US West Texas Intermediate reached $70.10, despite looming uncertainties over US tariffs and the Ukraine conflict.Analysts noted that while China's manufacturing activity showed signs of expansion, the economic outlook remains cautious due to impending tariffs. Additionally, ongoing tensions in Ukraine and attacks on Russian refineries are raising concerns about supply stability.
The Middle East has emerged as the leading recipient of Chinese investments under the Belt and Road Initiative, attracting $39 billion in 2024, a 102% increase. Key investments include $24.3 billion in energy, highlighted by an $8 billion oil refinery deal in Iraq, and $11.8 billion in green projects. This shift marks a strategic pivot for China, reducing its focus on Latin America and Pakistan while prioritizing infrastructure and energy partnerships in the Middle East.
Arab stock markets showed positive performance in January, with a composite index increase of 0.97%, driven by strong corporate earnings and supportive monetary policies. The Bourse de Casablanca led gains at 9.98%, while the Tunisian market faced a significant decline of 71.7%. Despite mixed trading values, investor sentiment improved, reflecting a broader global market rebound.
On February 24, 2025, the stock market remained stable while oil prices continued to decline, with North Sea Brent crude at $74.26 and US WTI at $70.18. Speculation about increased oil flow from Kurdish regions in Iraq and concerns over a global oversupply, particularly amid China's economic slowdown, are influencing the market.
Taager, a Saudi Arabia-based social e-commerce platform, has secured $6.75 million in a pre-Series B funding round led by Norrsken22. The investment will accelerate its growth across the MENA region, enhancing tools for social sellers and leveraging AI to optimize operations. With over 45,000 sellers supported, Taager aims to redefine e-commerce in the region, addressing challenges like complex supply chains and payment limitations.
UBS has raised BP's stock price target to GBP5.25 from GBP5.00, maintaining a Buy rating, citing expectations of faster deleveraging. BP's stock has surged 25% since November, driven by anticipation of a strategic overhaul at the upcoming Capital Markets Day on February 26. The company plans to invest $20-$25 billion in redeveloping oil and gas fields in Iraq and has initiated gas flow at the Greater Tortue Ahmeyim project, while also announcing job cuts to enhance capital efficiency.
UBS has raised BP's stock price target to GBP5.25 from GBP5.00, maintaining a Buy rating, citing expectations of faster deleveraging. BP's stock has surged 25% since November, driven by anticipation of a strategic overhaul at the upcoming Capital Markets Day on February 26. Despite a shortfall in 2024 EBITDA targets, BP plans a $20-$25 billion investment in Kirkuk, Iraq, and has initiated gas flow at the Greater Tortue Ahmeyim project, expected to produce 2.3 million tonnes of LNG annually. The company is also cutting 7,700 jobs to enhance capital efficiency.
Egyptian social e-commerce startup Taager has secured $6.75 million in a pre-Series B funding round to enhance its growth in the MENA region. Founded in December 2019, Taager provides a comprehensive platform for online sellers, offering backend services and operational support to facilitate their business. With over 45,000 sellers served, the company aims to expand its data tools and product offerings while scaling its team, having recently entered the Iraqi market.
UBS has raised its price target for BP shares from GBP 5.00 to GBP 5.25, maintaining a Buy rating, citing expectations of faster deleveraging. BP's shares have surged 25% since November, driven by anticipation of a strategic realignment announcement on February 26, 2024. Despite a missed EBITDA target for 2024, BP plans significant investments in Iraq's energy sector and has initiated gas flow at the Greater Tortue Ahmeyim project, aiming to produce 2.3 million tons of LNG annually. The company is also restructuring, cutting 7,700 jobs to enhance capital efficiency.
Nearly two decades ago, the American effort to govern Iraq post-invasion was marred by a mix of arrogance and incompetence. Young conservatives, often lacking experience, were placed in key roles, leading to misguided initiatives like privatizing government agencies and launching an anti-smoking campaign, while violence surged in Baghdad. A notable example was a twenty-four-year-old tasked with establishing an Iraqi stock exchange, which ultimately failed.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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