DUBAI / Emirates Business The digital textile printing industry will touch AED20 billion by 2023 with a compounded annual growth rate (CAGR) of 11.6 percent, according to a report by Smithers Pira. Players within the industry in the GCC can capitalise on the market growth triggered by the e-commerce industry and the exponential demand by the millennials and the rising …
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ABERDEEN / WAM Petrofac, the UAE-linked international service provider to the oil and gas produc-tion and processing industry, has been awarded a contract by Hess, a leading independent energy company, for the well-plugging and abandonment of four wells within the Rubie and Renee oilfields in the Central sector of Britain’s North Sea. The wells lie offshore around 200 km north-east …
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Bloomberg A deal that will save Mexico $4.5 billion has been reached with three pipeline companies to carry natural gas throughout the country, according to President Andres Manuel Lopez Obrador. Carlos Slim’s Grupo Carso SAB was the first to reach agreement with the country’s Federal Electricity Commission, or CFE, Lopez Obrador said during his morning news conference on Tuesday. Sempra …
Read More »ABU DHABI / WAM The United Arab Emirates has condemned the Houthi militias’ attempts to target the city of Jazan in the Kingdom Saudi Arabia with six ballistic missiles. In a statement issued on Monday, the UAE Ministry of Foreign Affairs and International Cooperation reiterated its full solidarity with the kingdom over these terrorist attacks targeting civilians, affirming its support …
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Bloomberg India’s central bank approved a record 1.76 trillion-rupee ($24.4 billion) payout to the federal government, boosting New Delhi’s coffers at a time when it is under pressure to provide a fiscal stimulus to the slowing economy. The Reserve Bank of India’s (RBI) board approved a transfer, which includes 1.23 trillion rupees as dividend and 526.4 billion rupees from its …
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Bloomberg The firm that’s transforming an archipelago, desert and mountains — an area about the size of Belgium — on Saudi Arabia’s Red Sea coast into a global tourism destination is talking to banks to raise $3.5 billion, according to people with knowledge of the matter. The Red Sea Development Co. started discussions with local lenders for a 13 billion-riyal …
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Bloomberg Oil jumped after US President Donald Trump said that China wanted to restart trade talks, potentially easing tensions between the two countries. Futures in New York rose as much as 1.5 percent, snapping the longest run of declines in more than five weeks. Trump’s comments reversed a drop of as much as 2.2 percent that had looked set to …
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Bloomberg Liquefied natural gas (LNG) may have dodged the latest round of Chinese tariffs on US goods, but plans for new American terminals to ship the fuel abroad are under threat as trade war escalates. Tellurian Inc. and other developers will probably delay final investment decisions on multibillion-dollar US LNG export projects to 2020 from this year as the tensions …
Read More »RIYADH / WAM The joint government services training programme organised by the UAE and Saudi Arabia, titled, ‘UAE-Saudi Capacity Building Programme’, has begun in the Saudi capital, Riyadh. The programme aims to build the capacities of government services employees from the two countries, according to specialised services criteria and as part of their partnership, as represented by the Saudi-Emirati Coordination …
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Bloomberg Donald Trump acknowledged having second thoughts on escalating the trade war with China — only for his top spokeswoman to later say he meant he regretted not raising tariffs even more. White House Press Secretary Stephanie Grisham now says the media misinterpreted Trump’s initial remarks. Trump doesn’t regret starting a trade war but he does have second thoughts on …
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