Abu Dhabi / WAM The Abu Dhabi National Oil Company (Adnoc) announced on Monday its agreement to the transfer of rights in its Lower Zakum and Umm Shaif and Nasr offshore concessions from the China National Petroleum Corporation (CNPC) to China National Offshore Oil Corporation’s subsidiary (CNOOC) Limited. The transfer has been approved by Abu Dhabi’s Supreme Petroleum Council (SPC) ...

Bloomberg Oil edged lower after a weekly gain as investors weighed worsening relations between Washington and Beijing and the prospect of more supply against a weakening dollar and signs the virus is easing in the US. Futures in New York fell toward $41 a barrel after rising 1.7% last week. Chinese authorities took over the US consulate in Chengdu on ...

DUBAI / WAM DP World, the Dubai- based provider of worldwide smart end-to-end supply chain logistics, has agreed to acquire a 60 percent shareholding in South Korea’s Unico Logistics Co. Ltd. The transaction, subject to regulatory clearances, is expected to close in Q4 2020, and represents another strategic step in DP World’s vision to build an integrated suite of service ...

New York / WAM The UAE has called on the UN Security Council (UNSC) to play its part in addressing climate change during an open meeting convened by Germany as this month’s president of the Security Council’s meeting on climate and security. In a written statement, the UAE emphasised that the Security Council must work hand-in-hand with development and humanitarian ...

ABU DHABI / WAM The UAE on Monday sent a third aid shipment carrying 6 metric tons of critical medical supplies to Colombia to bolster the country’s efforts to curb the spread of Covid-19. This aid will assist approximately 6,000 medical professionals as they work to contain the virus. Commenting on the aid delivery, Salem Rashid Al Owais, UAE Ambassador ...

Dubai / WAM Emirates NBD has completed successful migration of its customer base to the Smart Pass service to support safer digital transactions. The roll out of Smart Pass is part of the bank’s long-term commitment to safe, secure banking and supports Emirates NBD’s ongoing initiatives to align with global best practices in banking security. Available on the bank’s Mobile ...

Dubai / Emirates Business The outlook for the UAE’s Courier, Express and Parcel (CEP) market is bright due to strong demand generated in the wake of the coronavirus outbreak across the globe, industry experts say. Referring to latest research data released by Mordor Intelligence, they said CEP market in the UAE is expected to post 7.5 percent compound annual growth ...

ATHENS / WAM President Katerina Sakellaropoulou of Greece honoured Mohamed Meer Al Raisi, UAE Ambassador to Greece, in recognition of his efforts in strengthening ties between the UAE and Greece. On the occasion of the end of his tenure as ambassador to the country, Greek Foreign Minister Nikos Dendias decorated the UAE Ambassador with the Grand Cross of the Order ...

Dubai / Emirates Business Emirates on Monday rolled out a brand new, state-of-the-art online gateway to serve its travel trade partners around the world. Tailored for each market, and personalised for each partner to cater to their unique business environment and needs, the Emirates Partners Portal is a one-stop shop for travel industry partners to quickly and securely access the ...

Bloomberg NRG Energy Inc is making its boldest push yet into the retail electricity business, cementing a strategy overhaul that started three years ago. The power supplier said it’s buying Centrica Plc’s Direct Energy unit in a $3.6 billion deal that will nearly double the number of homes and businesses it serves across North America. It’s NRG’s biggest acquisition in ...