SHARJAH / WAM Dana Gas announced that in the first nine months of 2019, collections in Egypt, the UAE, and from its share of Pearl Petroleum Company Limited’s sales in the Kurdistan Region of Iraq (KRI) increased 16.7 percent year on year to $230 million (AED844 million). Dana Gas, which owns a 35 percent stake in Pearl Petroleum, saw its …
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Bloomberg Chinese state-owned entities are in talks about investing a combined $5 billion to $10 billion in Aramco’s initial public offering (IPO), people with knowledge of the matter said. The Beijing-based Silk Road Fund is among parties that have been in discussions to buy stock in the offering, according to the people, who asked not to be identified because the …
Read More »DUBAi / WAM The 2019 edition of the Islamic Banking Index by Emirates Islamic demonstrates significant progress made by the Islamic banking sector across parameters, with Islamic banking penetration reaching its highest level since the inception of the Index five years ago. Top-line findings of this year’s milestone edition of index indicate the sector continues to widen its appeal to …
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Bloomberg Oil held near a six-week high as signs of another increase in US crude reaffirmed the prevailing view that global markets are comfortably supplied. Futures added 0.2% in New York after rising 5.6% over the past three sessions. The American Petroleum Institute reported that crude stockpiles increased by 4.26 million barrels last week, according to people familiar with the …
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Dubai / Emirates Business Airlines and airports spent a record $50 billion in 2018 on IT to support improvements to the passenger journey and are now beginning to enjoy the benefit of that investment. Figures published by SITA for the first time show that this investment has resulted in a significant improvement in both the satisfaction levels for passengers and …
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London / Emirates Business Etihad Airways, the national airline of the United Arab Emirates, on Tuesday announced a partnership with Tourism Malaysia to attract visitors from Europe and the Middle East to Malaysia, via the airline’s Abu Dhabi hub. The agreement was signed at the World Travel Market in London, attended by representatives from both organisations and trade partners. The …
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RIYADH / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Prince Mohammed bin Salman bin Abdul Aziz, Saudi Crown Prince, Deputy Prime Minister and Minister of Defence, on Tuesday attended the signing of the Riyadh Agreement between the Yemeni Government and the Southern Transitional …
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ABU DHABI / WAM The GCC is rapidly adopting renewable energy generation to meet the power demand, lower carbon emissions and reduce costs, with the International Renewable Energy Agency (Irena), predicting that if the GCC realises its renewable energy plans, the region is set to create cumulative cost savings of $76 billion by 2030. GCC’s installed power capacity grew four-fold …
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Bloomberg China is reviewing locations in the US where President Xi Jinping would be willing to meet with Donald Trump to sign the first phase of a trade deal between the world’s two largest economies, people familiar with the plans said. Officials in Beijing had hoped that if president Xi travelled to the US to sign stage one of the …
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Bloomberg India pulled out of a trade pact covering much of Asia, paving the way for 15 other countries to sign the China-backed regional trade deal next year. India conveyed its decision to exit the Regional Comprehensive Economic Partnership (RCEP), foreign ministry official Vijay Thakur Singh told reporters in Bangkok on Monday. Prime Minister Narendra Modi highlighted that he was …
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