RIYADH, April 16 (KUNA) -- Prince Mohammad bin Salman bin Abdulaziz Al Saud, the Crown Prince, Prime Minister, announced on Sunday transfer of four percent of Saudi Aramco's total issued shares from the State's ownership to the Saudi Arabian Investment Company (Sanabil Investments).

NEW YORK: JPMorgan Chase reported a jump in first-quarter profits Friday alongside fellow banking giants Citigroup and Wells Fargo, in reassuring news to investors after recent banking sector turmoil sparked contagion fears.

KUWAIT: Despite a series of global shocks, Middle East and North Africa regions surprised on the upside last year with the GDP growing by 5.3 percent, reflecting strong domestic demand and the rebound in oil production, said Jihad Azour, director of the IMF’s Department for the Middle East and Central Asia, while summarizing the findings of the Asian Economic Outlook Report during the IMF 2023 Annual Meetings in Washington. However, growth is projected to slow in 2023 to 3.1 percent due to tight policies to restore microeconomic stability, agreed OPEC plus production cuts, and the fallout from the recent deterioration in global financial conditions, he said.

SAPPORO, Japan: G7 allies met Saturday for two days of “difficult” climate talks in northern Japan, facing pressure to show progress on key fossil fuel commitments in an example to other major economies including China.

Berlin: Inflation in Germany eased to 7.4 percent in March, mainly thanks to government measures to bring down energy prices, final figures showed on Thursday.

Kuwait: The price of Kuwaiti oil went up by USD 1.03 to USD 87.70 per barrel on Wednesday as opposed to USD 86.67 pb the day before, said Kuwait Petroleum Corporation (KPC) on Thursday.

• Fardan: Our profits prove our focus on strategic goals, sustained business growth and leading position.

NEW YORK: Roughly a month after Silicon Valley Bank’s collapse sparked fears of contagion, quarterly earnings reported this week are expected to focus on bank liquidity and the industry’s preparation in case of recession.

TOKYO: G7 allies meet this week for climate talks that are likely to urge more action in a “critical decade”, but could also lay bare divisions on ambitious fossil fuel commitments.