Bloomberg Oil climbed to the highest in nearly two months amid optimism that the US and China are close to locking down a partial trade deal. Futures jumped 1.7% in New York, pushing a weekly advance to 0.8% after White House economic adviser said negotiations between two countries were coming down to final stages. That outweighed US government data which …
Read More »ABU DHABI / WAM The National Petroleum Construction Company (NPCC), a part of Senaat Abu Dhabi, on Wednesday announced an ambitious five-year plan, backed by multimillion dirham investments, to transform its digital capabilities and meet the evolving needs of its clientele, employees and the region’s oil and gas industry. As part of the digital transformation, the NPCC marked a strategic …
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ABU DHABI / WAM Damac Properties announced its financial results for the nine months of 2019, reporting a total revenue of AED2.8 billion, with booked sales reported at AED2.4 billion. According to a press release issued by Damac Properties on Wednesday, gross profits for the same period stood at AED838 million reflecting gross profit margins of 30.3 percent. Total assets …
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BloomBerg Oil fell for a third day amid concerns over the US-China trade dispute, and signs of another increase in American crude stockpiles. Futures declined as much as 1.1% in New York. President Donald Trump’s speech disappointed investors after he gave little insight on how the impasse with Beijing will be resolved, and warned of higher tariffs if a deal …
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ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, signed a Memorandum of Understanding (MoU) with Misk Foundation – during the three-day Misk Global Forum in Riyadh – that outlined steps towards creating a more dynamic market for startups between the UAE and Saudi Arabia. The MoU outlines steps towards building a larger shared ecosystem aimed at helping startups …
Read More »ABU DHABI / WAM Collaboration between the United States and the Organisation of the Petroleum Exporting Countries (Opec), is “not on the cards,” according to Francis R. Fannon, US Assistant Secretary for the Bureau of Energy Resources at the US Department of State. In an interview with Emirates News Agency (WAM), Fannon said the “US presence on the energy market …
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ABU DHABI / WAM Aldar Properties on Tuesday reported a 14 percent year-on-year increase in gross profit to AED662 million in the third quarter of 2019. Also, the company’s revenue increased seven percent to AED1.60 billion compared to AED1.50 billion in Q3 2018. Development management recorded 20 percent growth in revenue to AED642 million, off-plan development sales increased 272 percent …
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DUBAI / WAM Dubai Islamic Economy Development Centre announced results of the State of the Global Islamic Economy Report. The seventh edition of the report presents an annual update on continued global growth of the Islamic economy, encompassing halal products, Islamic finance and related lifestyle sectors. This year’s SGIE report, produced by DinarStandard, a US-based research and advisory firm, estimates …
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Bloomberg Oil retreated from a six-week high as ambiguous progress in US-China trade talks and worsening violence in Hong Kong damped sentiment across financial markets. Futures fell 1.2% in New York after President Donald Trump said that, while discussions with Beijing are moving along “nicely,†a deal hasn’t been reached and he won’t eliminate all tariffs. Meanwhile, Oman’s Oil Minister …
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ABU DHABI / WAM The Middle East region is witnessing a significant push towards downstream projects to improve refinery output and capacity, according to Paul Carthy, Managing Director, Accenture Energy Industry Group, Middle East and Turkey. Speaking to the Emirates News Agency (WAM), on the sidelines of the Abu Dhabi Petroleum Exhibition and Conference (Adipec), which opened on Monday, Carthy …
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