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Bloomberg Oil fell as the coronavirus outbreak accelerated beyond China, intensifying concerns about the infection’s economic fallout. Futures fell 0.9% in New York. China revised how it calculates infection totals for the third time this month, raising questions about data reliability and confirming the virus’s growing reach. Meanwhile, a key IHS Markit gauge of factories and service providers in the …

ABU DHABI / WAM Strata Manufacturing (Strata), the advanced composite aero structures manufacturing facility wholly-owned by Mubadala Investment Company PJSC, outlined its ability to expand production capabilities beyond traditional aerospace at the Unmanned Systems Conference in Abu Dhabi. At the conference, which took place on Saturday at Abu Dhabi National Exhibitions Centre (Adnec), Ismail Ali Abdulla, the CEO of Strata, …

LONDON / WAM The Abu Dhabi National Oil Company (Adnoc), on Wednesday announced that it has signed an Exclusive Seller Agreement with Xiamen Sinolook Oil Co. Ltd. This new agreement, which was signed at the 24th World Base Oils and Lubricants Conference in London, appoints Xiamen Sinolook Oil as exclusive seller of Adnoc’s Group III base oil, ADbase, into China, …

Bloomberg Reliance Industries Ltd.’s talks to sell a minority stake in its oil-to-chemical division to Saudi Aramco have been gathering pace in recent weeks, according to reports. Aramco officials and bankers on the deal have been working at Reliance’s offices in Mumbai for due diligence this month, according to the people, who asked not to be identified as the information …

Bloomberg Oil fell, snapping a five-day rally, amid renewed fears over the impact on the global economy and fuel demand from Asia’s deadly coronavirus. Brent futures fell 2.3% to trade near $56 a barrel in London, slipping with equity markets as Apple Inc. warned it will fail to meet sales targets this quarter because of disruption from the virus. Chinese …

DUBAI / WAM Agthia Group, a regional food and beverages company, on Monday announced the launch of the ‘Al Ain Plant Bottle’, the region’s first plant-based water bottle. The packaging of the new bottle is environmentally friendly and made from 100 percent plant-based sources, including the cap. The water bottle serves a growing consumer move towards sustainability, as it is …

Bloomberg Lebanon is at risk of “implosion” unless it develops a new governance model that’s more transparent than today’s system, according to the World Bank. “Politicians need to stop and listen,” Ferid Belhaj, the World Bank’s most senior official for the Middle East and North Africa, said in an interview. “You cannot continue doing what you’ve been doing for years …

DUBAI / WAM The UAE has strengthened its regional and international leadership in women’s empowerment, and is harnessing their potential to serve this purpose, as well as drafting frameworks and mechanisms to ensure gender balance, said Mohammed Jalal Al Raisi, Executive Director of the Emirates News Agency (WAM). “The UAE’s related efforts has made women’s empowerment a reality and has …

Dubai / WAM Ivanka Trump, Advisor to the President of the United States of America on Saturday said that the United Arab Emirates is taking bold leadership in advancing women’s empowerment in the region and expressed the hope that other countries will join the UAE in advancing the active participation of women is various spheres. “The United Arab Emirates is …

Bloomberg The US said it will increase the tariff rate imposed on aircraft imported from the European Union (EU) to 15% from 10% on March 18. The move is part of a long-running spat in which the US has sought to penalise the EU for offering illegal subsidies to Airbus SE that harmed American aircraft maker Boeing Co. The US Trade …