Daily brief: Iran raises crude prices in Asia, Instagram adds new ad feature

January 12, 2017 10:22 am

Stack of newspaper. (Image: Alamy)

Iran raised the official selling price of its Light grade to Asian buyers, above the average price of Oman and Dubai benchmarks. Here are the top seven business stories you need to know about today.


Airbus deliveries rose 8%, orders outpaced Boeing in 2016

Airbus posted an eight per cent rise in deliveries last year, beating its own forecasts by a comfortable margin to set a company record, and pulled off a last-minute surge in orders to beat arch-rival Boeing in the race for new orders.


(Airbus deliveries rose 8 per cent, orders outpaced Boeing in 2016)


Iran raises Feb crude prices in Asia, lowers them in other regions

Iran has set the official selling price (OSP) for February of its Iranian Light grade for its Asian buyers at $0.05 a barrel above the average price of the Oman/Dubai benchmarks published by reporting agency Platts, up 60 cents from the previous month, an industry source with direct knowledge of the matter said on Thursday, according to Reuters.


(Iran says finds shale oil reserves in western province)


Fire at Ruwais oil refinery breaks, contained without impact on production

Abu Dhabi’s state-owned national oil company ADNOC said on Wednesday it had contained a fire at the Takreer Ruwais refinery and that production and supply had not been affected.


Instagram adds advertising to Instagram Stories

Facebook Inc’s Instagram is bringing more than 30 advertisers into one of its fastest-growing features, Instagram Stories, in a bid to boost advertising revenue, the company said on Wednesday.


(Snapchat vs Instagram Stories)


Saudi’s flynas to buy Airbus aircraft worth $8.6bn

Saudi Arabia’s flynas has struck a deal with Airbus to buy planes worth $8.6 billion, Kingdom Holding, which owns 34.1 per cent of the budget carrier, said on Wednesday.


Aabar set to invest in UniCredit’s share sale – sources

Abu Dhabi investor Aabar Investments is set to buy more shares in UniCredit in the Italian bank’s upcoming 13 billion-euro ($14 billion) share offer, Italy’s biggest ever cash call, three sources said on Wednesday.


Qatar’s Masraf Al Rayan lines up $50mn sukuk -sources

Qatar’s Masraf Al Rayan, an Islamic lender, has mandated banks for a sukuk of around $500 million, banking sources said on Wednesday.


AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.