DUBAI / Emirates Business Headset with an LED light cable. The Firefly offers perfect safety features for fitness enthusiasts who like to run at night. The Firefly’s rechargeable LED light provides an added layer of safety from vehicles and other objects due to its enhanced visibility in the dark. ZAKK is a global lifestyle brand aimed to enhance the experiences ...
Read More »Admin
Saudi king heads to Russia, with oil and investment on agenda
RIYADH / MOSCOW / Reuters The leaders of Saudi Arabia and Russia, the world’s biggest oil exporters, are expected to discuss cooperation on oil production and differences over Syria and Iran on Thursday during the first visit to Moscow by a reigning Saudi Monarch. A slew of investment deals, including on a liquefied natural gas (LNG) project and petrochemical plants, ...
Read More »Russia, Saudi Arabia to set up $1bn technology fund
Reuters Russia and Saudi Arabia plan to set up a $1 billion fund to invest in technology, the chief executive of a sovereign Russian wealth fund said on Wednesday. The joint venture is the latest in a series of deals expected to be signed during a visit to Russia by King Salman this week. Other deals include a $1 billion ...
Read More »Oil extends losses near $50
Bloomberg Oil extended losses near $50 a barrel as US industry data showed an increase in gasoline stockpiles and a boost in crude inventories at the nation’s biggest storage hub. Futures lost as much as 1% in New York after falling 2.4% in the previous two sessions. Gasoline supplies rose by 4.91 million barrels last week, the American Petroleum Institute ...
Read More »Libyan oil output set to rebound as biggest field restarts operations
Bloomberg Libya’s oil output, hampered by sporadic shutdowns at fields and ports, is on track to resume its recovery as the OPEC nation’s biggest crude deposit started pumping after a three-day forced halt. The Sharara field re-opened on Wednesday and is restoring production, the state producer National Oil Corp. said on its website. NOC lifted force majeure at the field ...
Read More »Aramco raises Arab Light price to Asia by 30 cents
SINGAPORE / Reuters Saudi Aramco has raised the price of its Arab Light grade for Asian customers for loading in November by 30 cents versus the previous month to a premium of 60 cents a barrel to the average of Oman and Dubai quotes, a source familiar with the matter said on Wednesday. It also raised prices for two other ...
Read More »Algeria to amend energy law by year-end
ALGIERS / Reuters Algeria plans to amend its energy law before the end of the year as the OPEC producer tries to attract more foreign investors, a senior source at state energy firm Sonatrach told Reuters. Algeria, a major gas supplier to Europe, wants to boost oil and gas revenues which were hit by a fall in global prices. But ...
Read More »Sharp to monetise patents, amid focus on ultra HD TVs
Bloomberg Sharp Corp.’s US legal battle with Hisense Electric Co. marks the start of an aggressive new campaign by the Japanese electronics company to obtain royalties on its patents as the company focuses on ultra-high-resolution televisions and “smart home†devices. The Osaka-based Sharp plans to be more assertive when it comes to demanding patent royalties and may even start filing ...
Read More »India’s General Insurance aims to raise $1.7bn in IPO
Bloomberg General Insurance Corp., India’s largest reinsurer, and its owner will seek as much as 113.7 billion rupees ($1.7 billion) after setting terms for the third-biggest initial public offering on record in the South Asian nation. GIC will offer 17.2 million new shares at 855 rupees to 912 rupees apiece, according to advertisement published on Wednesday in the Financial Express ...
Read More »â€˜Surging Singapore land bids are unsustainable’
Bloomberg Surging bids for Singapore land aren’t sustainable in a market constrained by demographics and the government’s cooling measures, according to the head of a developers’ association. “It is not sustainable to continue at this rate,†Augustine Tan, president of the Real Estate Developers’ Association of Singapore, said on Wednesday. “With property measures in place, slow growth in Singapore’s population ...
Read More »