Abu Dhabi / WAM Choosing UAE-grown produce can help support sustainability and contribute towards solving food and water security, Madar Farms’ Head of Operations, Kyle Wagner, said during an event in Abu Dhabi. During a panel discussion at New York University Abu Dhabi (NYUAD), with Mariam Hareb Almheiri, Minister of State for Food Security, he urged the public to take …
Read More »
DUBAI / WAM DP World has been awarded a 30-year build-operate-transfer (BOT), concession by the Saudi Ports Authority (Mawani), for the management and development of the Jeddah South Container Terminal at the multi-purpose Jeddah Islamic Port. Under the agreement, DP World will invest up to $500 million to improve and modernise the Jeddah Islamic Port, including major infrastructure development to …
Read More »
Bloomberg Kuwait and Saudi Arabia could reach an agreement by the end of this year to renew oil output in the shared neutral zone along their border, Kuwaiti Oil Minister Khaled Al-Fadhel said. The neutral zone, which has been shuttered for at least four years, can produce as much as 500,000 barrels a day. The zone’s Wafra and Khafji fields …
Read More »
Bloomberg China is taking a major step to open up sectors ranging from oil and gas to telecommunications and railways, easing market regulations and lowering financing costs for private companies. The government will offer more tax breaks and broaden incentives to more firms, according to a government statement published by the official Xinhua News Agency, which didn’t specify the industries. …
Read More »Abu Dhabi / WAM Etihad Airways, the national airline of the United Arab Emirates, and Kuwaiti flag carrier, Kuwait Airways, have signed a codeshare partnership on selected services on bookings effective December 22, for travel from January 5, 2020. According to a statement by Etihad airways, the national airline will place its ‘EY’ code – subject to regulatory approvals – …
Read More »
Bloomberg The US and China are arranging the formal signing of the first phase of a broader trade deal between the world’s two biggest economies, President Donald Trump said after discussions between him and his counterpart, Xi Jinping. “Had a very good talk with President Xi of China concerning our giant Trade Deal. China has already started large scale purchases …
Read More »
Bloomberg Oil erased almost an entire week of advances as chart-watching traders tested a key price barrier. Futures in New York fell 1.2%, a day after closing at a three-month high. Selling accelerated after a foray above $61 a barrel petered out, a bearish technical signal. The next key threshold is at the $60 level, traders said. On the fundamental …
Read More »
Bloomberg Information on 267 million Facebook users, including user names, phone numbers and Facebook IDs, was exposed online, according to a cybersecurity researcher. The data, mostly from US Facebook users, was posted on a searchable database by a group that appeared to be based in Vietnam, said Bob Diachenko, the cyber threat intelligence director at Security Discovery, a Ukrainian cybersecurity …
Read More »
Bloomberg Shares in Saudi Aramco dropped for a second day in a row a week after its record initial public offering, pushing its market value just below $2 trillion, the level sought by Crown Prince Mohammed bin Salman. Shares ended 2.8% lower at 36.70 riyals in Riyadh, giving the company a total value of $1.96 trillion. The stock was included …
Read More »
DHAHRAN / AGENCIES Saudi Arabian Oil Company, Saudi Aramco, has completed, through its subsidiary Aramco Overseas Company, the acquisition of 17 percent of Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately $1.2 billion. The completion follows receipt of all necessary regulatory consents and approvals. According to a statement issued by the company, the investment in South Korea’s Hyundai Oilbank …
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.