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Kuwait Mina Al-Ahmadi oil refinery Fire erupted in a major Oil Refinery.

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Kuwait Mina Al-Ahmadi oil refinery Fire

Citizens in the seaside Fahaheel district recorded catching a large explosion. Kuwait Mina Al-Ahmadi oil refinery Fire. Read more about it in details.

A fire exploded on Monday at a main oil refinery in Kuwait, the state-owned oil company said, reporting that some operators hurt from smoke breath and other light scratches. Kuwait Mina Al-Ahmadi oil refinery Fire.

Kuwait’s National Petroleum Company:

The fire at the key Mina Al-Ahmadi oil refinery at Kuwait’s Arabian Gulf coastline north of its border with Saudi Arabia did not touch the electrical supply or oil shipping. Some oil contractors were getting treatment for their injuries at a nearby hospital, the group added.

Domestic market 25000 barrels:

The factory was built to manage 25,000 barrels of oil a day to supply Kuwait’s internal market. They see gasoline and diesel and lately experienced an expansion to decrease its eruptions and boost capacity to 345,000 barrels a day.

Residents in Kuwait:

Firefighters were running to quench the blaze in the refinery’s processing unit. Removes sulfur from the oil products. Citizens in Kuwait’s coastal Fahaheel district told hearing a large blast. They shared footage of thick, black haze billowing over the roadway on social media.

The event refiner said it had separated the atmospheric debris desulphurisation (ARDS) unit wherever the fire broke out, and firefighting forces continued.

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“The factory orders and export orders not hit. There has been no shock to local marketing services and numbers to the electricity and water ministry,” KNPC said on its Twitter account.

Kuwait is the world’s sixth-largest known oil reserves. To happen such things in this place is not good for world. Main suppliers issues or any problem can create more issue to the world too.

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The life of Saudi Prince Salman, A trillionaire with Lavish Lifestyle.

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saudi prince salman

We all know about Queen Elizabeth and all. But do you know about the Life of Saudi Prince Salman? This man lives his life own style and is more prosperous than any rich can even think to live with it. 

prince salman in blazer

prince salman in blazer

Some Nations still have their castle and their kings. Out of that, today will talk about Rich Monarch, who has gold celebrity status worldwide. We are talking about Mohammed Bin Salman. This man doesn’t need any introduction. Let’s see some insights into his life. 

 MBS aka Mohammed Bin Salman:

He is the guy you want on your side as he knows how to live life. MBS is crown prince of Saudi Arabia. Born on August 31st August 1985, in Saudi Arabia. Every one wants to know the Life of Saudi Prince Salman. He started as his father’s personal Aid. He was named crown prince in 2017. MBS is not one of the richest in the world on paper, but he has all the luxurious things in a garage that looks cool on the road, water, and Air. 

saudi prince in one video

saudi prince in one video

Luxury Cars of Saudi Prince Salman:

Prince Salman turns the luxury car into a miracle. Yes, he converts into Gold, which makes its value priceless in the market. Gold prices go in millions from Diamond mercedez, Gold Lamborgini, Gold Rolls Royce Phantom, and his Bugatti. 

Luxurious Water machines of Saudi Prince Salman:

That is just a few on-road luxuries now. Let’s talk about Water machines. The first one you should know about is The serene. The serene is like heaven in water. This yacht is fantastic with all the top luxury things you can imagine. Pegasus 8, to is no lesser than the serene. It is a dream machine that is one of the world’s best yachts. 

Top properties of Prince Salman:

Now let’s talk about villas he has to live a life. First will talk about French Chateau. This is a 300$ million cost massive property where he loves to live away from Saudi Arabia. A villa with all  the latest technology and luxurious things. It looks like old Villa, but it is not. It is heaven on earth made for Prince Salman. 

Business and interest of Prince Salman:

Although he has everything his most talk-about ventures, the first one is Saudi Aramco. Most valuable company in entire world worth more than $2 trillion. It comes in very few trillion-dollar companies. He also purchased England’s New Castle club. 

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

 

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Indian rupee falls 0.7 paise due to growing oil prices.

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indian rupee vs dollar and dirham

On the other side the Dollar index grows by 0.04% to 95.95. Indian Rupee falls 0.7 paise due to multiple reasons vs Dirham and Dollar. 

Indian rupee vs dirham and dollars

Indian rupee vs dirham and dollars

It’s like D and P are hurting the Indian rupee. Rupee down 0.7 paise due to poor equity market and high oil prices. 

The Indian rupee falls 0.7 paise to 74.67 versus the US dollar (20.34 against the UAE dirham) in opening trade on Tuesday morning 25th Jan 2022. Weighed down by the power of the American currency and muffled Indian equities.

Forex traders stated geopolitical tensions maintained foreign fund outflows affecting Indian Rupee. Also, advanced crude oil prices dragged down the rupee. Many investors are waiting for the US Federal Reserve meeting this week. Today Indian Rupee opened flat, but it lost momentum and went down to 74.67. It declined 0.7 paise from 74.60 last close on Monday 24th Jan 2022. 

Indian Rupee this week:

On Monday 24th Jan 2022, the rupee had fixed at 74.60 vs the dollar. The dollar index, which gauges the greenback’s force against six currencies, rose by 0.04 percent to 95.95.

The US dollar climbed to a 2-week high vs its major peers on Monday amid escalating concerns about both a more rapid pace of Federal Reserve policy tightening. And the potential military conflict in Ukraine vs Russia.

Ukraine border tension is affecting the Asian market. Two big nations are coming towards each other due to one problem. Talks between US and Russia not going in the right direction is a big concern for other countries in Asia. 

Per Barrel heading towards 100$ again?:

Due to the recent issues, the global oil benchmark Brent jumped 0.54 percent to $86.74 per Barrel. Many predict 100$ per Barrel in near time in 2022. 

Sensex traded more than 305.80 points or 0.54 percent lower at 57,187 points. Broader NSE Nifty fell by 71.27 points or 0.41 percent 17,079 points.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

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Outgoing Chemical Shipment soars, Saudi non-oil export growth hit 26.1% in November.

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Outgoing Chemical Shipment soars

Great news coming from Chemical shipment business. Outgoing Chemical Shipment soars, Saudi non-oil export growth hit 26.1 last November 2021. Data is provided by Gastat source of news Arab news.

Outgoing Chemical Shipment soars image from shutter stock

Outgoing Chemical Shipment soars image from shutter stock

Outgoing Chemical shipment:

Exports of Chemicals industries is expanding by 71%. More than 35% of non-oil merchandise export done.

According to sources, sales of rubber then plastic is also increased by nearly 40%. The ratio of non-oil exports to imports bounced to 53 percent in November 2021, up from 42 percent in the previous month Dec 2021. In its latest report, imports grew by only 1.4 percent, corresponding to the higher growth of non-oil sales, Gastat pointed out in its latest news.

Moreover, oil exports poured by 113 percent, and its share of total exports rose to 76 percent in November 2021. It is up from 65 percent in the same month of the earlier year. Overall goods exports jumped 83 percent from a year before.

China was the Kingdom’s leading trading partner, accounting for 17 percent of exports and 21 percent of imports. India and Japan are other significant recipients of Saudi goods and services, buying 12 percent and 10 percent, respectively, of exports. South Korea, the US, the UAE, and Egypt were among the top 10 exporting termini.

In addition, the US and the UAE supplied Saudi Arabia with 12 and 6 percent, respectively, of its imports.

The important customs ports for imports, Gastat said that 26 percent of total buys came via the Jeddah Islamic Sea Port in November 2021. Then second is King Abdulaziz Port, King Khalid International Airport, and Bat’ha.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

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