Bloomberg Oil traded close to $60 a barrel after a tropical storm shut almost three-fourths of US Gulf of Mexico crude production amid lingering concerns about demand growth. Futures were little changed on Monday in New York after advancing almost 5 percent last week. About 73 percent of Gulf crude output was offline after explorers evacuated platforms and rigs ahead …
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Bloomberg Amlak Finance PJSC is nearing a deal to restructure debt for a second time, according to two people with knowledge of the plan. The company is asking creditors to reschedule repayments on $1.2 billion of loans over the originally agreed period that ends in 2026, said the people, asking not to be identified because the information is private. Most …
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Abu Dhabi / Emirates Business The value of announced M&A transactions in the Middle East and North Africa (Mena) reached an all-time high of $112 billion in the first half of 2019, according to a report from financial data provider Refinitiv. The increase of 231 percent compared to the value recorded during 2018, was driven by Saudi Aramco’s $69.1 billion …
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Bloomberg Oil capped its best week since mid-June as Tropical Storm Barry gained strength, approaching refineries in Louisiana and leaving deserted offshore platforms on its path. Futures in New York gained 4.7 percent for the week after prices held above $60 a barrel for a third day. Forecast to make landfall as a hurricane early Saturday, Barry has already curbed …
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Bloomberg Japan and South Korea bickered over the details of rival briefings about export-control talks on Saturday as the US backed away from a potential role as a mediator in a fight over history and trade between its two Asian allies. Officials at Japan’s Ministry of Economy, Trade and Industry held a press conference at which they denied an assertion …
Read More »ABU DHABI / WAM Search for Common Ground (Search) in collaboration with Hedayah, the International Centre of Excellence for Countering Violent Extremism (CVE), has released the first ever complete CVE Training Curriculum. Financed by the European Union’s Strengthening Resilience to Violent Extremism (STRIVE) Global programme, the initiative is aimed to raise awareness on collaborative CVE approaches among governments and civil …
Read More »ABU DHABI / WAM More than 200 of the respected energy experts, pioneers and decision makers from around the globe have now been lined up to lead the discussions at the 24th World Energy Congress in Abu Dhabi. To be held from September 9 to 12 at Abu Dhabi National Exhibition Centre (Adnec), the event will mark the first time …
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Bloomberg Oil jumped to the highest in a week as an industry report showing a continued draw-down in US crude inventories tightened a supply outlook that’s being threatened by rising tension in the Middle East. Futures in New York rose as much as 2.7 percent on Wednesday, as Federal Reserve Chairman Jerome Powell signaled that policy makers may cut interest …
Read More »GENEVA / WAM In a statement delivered by Obaid Salem Al Zaabi, UAE Permanent Representative to the United Nations (UN) in Geneva, during the 41st session of the Human Rights Council, the UAE affirmed its support for the peace process in the Middle East, with the aim of achieving peace and stability in the region. It also highlighted its support …
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ABU DHABI / WAM The value of trade in goods between the Emirate of Abu Dhabi and Saudi Arabia has increased to AED18.3 billion during the first four months of 2019, a growth of 20.6 percent compared with the same period of 2018, according to figures released by the Statistics Centre — Abu Dhabi. The emirate’s trade with Saudi Arabia …
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