Abu Dhabi / WAM HH Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council, visited the Mubadala Real Estate and Infrastructure stand on Tuesday at this year’s Cityscape Abu Dhabi. Mubadala Real Estate and Infrastructure unveiled the masterplan for Arzanah, a new community development designed to become the new urban destination of Zayed Sports City. The ...

  Abu Dhabi / Emirates Business ADNOC Distribution announced the opening of Dalma Port marine service station located on Dalma Island in Abu Dhabi. The temporary facility is designed to meet the requirements of fishermen and boat owners on the island until an integrated marine service station is set up within Dalma Port. Located in the new Dalma Island Port, ...

  Bloomberg The pound jumped after British Prime Minister Theresa May announced an early general election. European stocks declined as traders caught up with a swathe of geopolitical events following the long weekend. Sterling swung from gain to loss and back again versus the dollar as May set the vote for June 8, before rallying to the highest since February ...

  DUBAI / Reuters Dubai’s stock market rose in a broad-based rally on Tuesday while other Gulf bourses were sluggish, with Saudi Arabian banks trading mixed after first-quarter earnings announcements. The Dubai index rose 0.9 percent to 3,496 points, rebounding from near technical support on its March low of 3,435 points. Nine of the 10 most heavily traded stocks gained ...

  Bloomberg A BP Plc well on Alaska’s North Slope is no longer leaking crude oil or natural gas, a spokeswoman said. Environmentalists, describing the well as “out of control,” called on the state to investigate. The crude spray was discovered on Friday morning, and capped early on Sunday. A second leak that was emitting gas at a reduced rate ...

  Bloomberg Oil is losing momentum after the longest weekly rally in two months, with confidence that US crude stockpiles are beginning to shrink damped by concern that American drilling activity is increasing. Futures were little changed in New York after falling 1 percent Monday, following its third weekly advance. While data on Wednesday may show US inventories probably shrank ...

  Bloomberg The oil boom in the Permian Basin, America’s most prolific crude play, has become a gas boom. With its $2 billion takeover of EagleClaw Midstream Ventures LLC, Blackstone Group LP became the latest company to bet on gas in a basin better known for its oil reserves. Its interest lies in “associated gas” — a term used to ...

  SINGAPORE / Reuters China is looking at launching its crude oil futures in Shanghai in the second half of this year, two sources familiar with the matter said, breathing new life into a derivative that was considered shelved only months ago. The contract is aimed at giving China, world’s second-largest oil consumer after the United States, clout in pricing ...

  Bloomberg The world’s hottest property stocks are to be found in China as tougher measures to cool real estate prices fail to deter investors. Chinese companies account for nine of the 10 best performers this year on the Bloomberg World Real Estate Index. Among members of the MSCI China Index, Country Garden Holdings Co., Sunac China Holdings Ltd. and ...

  Bloomberg Steel mills in India are set to churn out metal at a rapid pace over the next decade and a half with output forecast to more than double bolstered by a growing economy and increasing urbanization, according to the Indian Steel Association. Shares of producers rose in Mumbai. Production is set to climb 10 percent to 12 percent ...