President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
Gas prices could rise by about 20 cents per gallon "starting tomorrow," oil analyst Andy Lipow says Monday.Oil and Gasread more
Some operators are cashing in on the CBD craze by substituting cheap and illegal synthetic marijuana for natural CBD in vapes and edibles such as gummy bears, an AP...Health and Scienceread more
DUBAI, June 11 (Reuters) - Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum issued a new insolvency law on Tuesday for companies operating in the Dubai International Financial Centre (DIFC), the largest financial hub in the Middle East, Africa and South Asia.
The new law, due to come into effect in August, has been issued following the collapse of Dubai-based private equity firm Abraaj, which had a DIFC-regulated entity Abraaj Capital.
The firm that had been the Middle East and North Africa's biggest buyout fund unraveled after a row with some investors over the use of money in a $1 billion healthcare fund.
The new law introduces a "new debtor in possession bankruptcy regime" for debtors that have filed for bankruptcy but still hold assets, according to a statement on the Dubai's ruler official website.
Abraaj, its founder Arif Naqvi and a former executive are being investigated by the U.S. Securities and Exchange Commission (SEC) on U.S. charges that they defrauded investors, including the Bill & Melinda Gates Foundation.
The Dubai Financial Services Authority (DFSA) said in April it was in touch with the SEC and had been investigating Abraaj Capital Ltd, an entity of the collapsed firm, over a range of matters but has not specified what they are. (Reporting by Tuqa Khalid Editing by Davide Barbuscia and Edmund Blair)