SYDNEY: Pandemic-induced lockdowns caused Australia’s economy to shrink 1.9 per cent in the third quarter, a downturn that bucked the trend of a steady recovery in other wealthy nations. The Australian Bureau of Statistics on Wednesday reported the country’s second quarterly contraction since the pandemic began — and one of the largest contractions on record … Read more
RIYADH: Russian oil firm Rosneft has reported an increase in net income for the third quarter this year by 35 per cent, to 314 billion rubles ($4.3 billion), Arab News reported. The company’s earnings before interest, taxes, depreciation, and amortisation increased by 11.7 per cent to 638 billion roubles ($8.8 billion) in the third quarter, compared with … Read more
MANILA: The Philippine economy grew more than expected in the third quarter, the government said on Tuesday, as a rebound in consumer spending overcame pandemic lockdowns and other restrictions to rein in the fast-spreading Covid delta variant. Gross domestic product expanded 7.1 per cent, according to the Philippine Statistics Authority, better than the 4.9 per cent … Read more
RIYADH: Saudi Arabia’s public debt increased SR25.5 billion ($6.8 billion) in the third quarter of this year, reflecting a growth rate over the period of 2.8 per cent, Arab News reported. The total debt now stands at SR948.3 billion, the recent quarterly budget performance report revealed. The increase was almost solely due to the growth in domestic … Read more
RIYADH: Saudi Aramco is the world’s most profitable company in the third quarter, beating tech giants such as Google, Amazon and Apple, as well as other listed energy companies such as ExxonMobil and Shell, Arab News reported. Thanks to the recent increase in oil prices, the Dhahran-based company reported that its net income in the third quarter … Read more
