Investment

Saudi investment in Iran could happen ‘very quickly’ after agreement

Published

2 years ago

March 15, 2023

RIYADH, March 15 (Reuters) – Saudi Arabia’s finance minister, Mohammed al-Jadaan, said on Wednesday that Saudi investments into Iran could happen “very quickly” following an agreement.

“There are a lot of opportunities for Saudi investments in Iran. We don’t see impediments as long as the terms of any agreement would be respected,” al-Jadaan said during the Financial Sector Conference in Riyadh.

Iran and Saudi Arabia agreed on Friday to re-establish relations after years of hostility that had threatened stability and security in the Gulf and helped fuel conflicts in the Middle East from Yemen to Syria.

Tehran and Riyadh agreed to resume diplomatic relations and re-open embassies within two months, according to a statement issued by Iran, Saudi Arabia and China, which brokered the deal.

“To focus on your economic development and focus on providing for the people in your country, you need stability, and they (Iran) need both,” al-Jadaan said in Riyadh.

He said there are a lot of opportunities in Iran and that Saudi Arabia also provides a lot of opportunities for them.

(This story has been corrected to fix the description of the conference in paragraph 2)

Reporting by Rachna Uppal; Writing by Clauda Tanios and Hadeel Al Sayegh; Editing by Andrew Heavens and Christopher Cushing

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Economy

S&P/TSX composite up in late-morning trading, U.S. stocks also higher

Published

2 days ago

September 24, 2024

Anne Joseph

TORONTO – Strength in the energy and base metal stocks lifted Canada’s main stock index higher in late-morning trading, while U.S. stock markets also climbed higher.

The S&P/TSX composite index was up 78.80 points at 23,973.51.

In New York, the Dow Jones industrial average was up 89.81 points at 42,214.46. The S&P 500 index was up 2.55 points at 5,721.12, while the Nasdaq composite was up 21.24 points at 17,995.51.

The Canadian dollar traded for 74.24 cents US compared with 74.02 cents US on Monday.

The November crude oil contract was up US$1.06 at US$71.43 per barrel and the November natural gas contract was down two cents at US$2.83 per mmBTU.

The December gold contract was up US$18.10 at US$2,670.60 an ounce and the December copper contract was up 15 cents at US$4.49 a pound.

This report by The Canadian Press was first published Sept. 24, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite flat Friday, U.S. markets mixed as Dow posts new record

Published

6 days ago

September 20, 2024

Anne Joseph

TORONTO – Canada’s main stock index was essentially unchanged Friday, while U.S. markets were mixed to end the week, with the Dow ekeing out a new record high.

The S&P/TSX composite index closed up 1.28 points at 23,867.55.

In New York, the Dow Jones industrial average was up 38.17 points at 42,063.36. The S&P 500 index was down 11.09 points at 5,702.55, while the Nasdaq composite was down 65.66 points at 17,948.32.

The Canadian dollar traded for 73.72 cents UScompared with 73.73 cents US on Thursday.

The November crude oil contract was down 16 cents at US$71 per barrel and the November natural gas contract was up 12 cents at US$2.72 per mmBTU.

The December gold contract was up US$31.60 at US$2,646.20 an ounceand the December copper contract was down a penny at US$4.34 a pound.

This report by The Canadian Press was first published Sept. 20, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite up more than 250 points, U.S. stock markets also higher

Published

7 days ago

September 19, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.

The S&P/TSX composite index was up 254.62 points at 23,847.22.

In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.

The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.

The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.

The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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