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Bloomberg DP World Plc mandated banks to raise about $1 billion of bonds to finance the acquisition of Topaz Energy & Marine Plc, according to three people with knowledge of the plans. The world’s largest port operator hired Citigroup Inc., Dubai Islamic Bank PJSC (DIB) and Standard Chartered Plc to arrange investor meetings in Hong Kong, Singapore and London from …

Bloomberg Oil pushed higher as Iran’s threats to retaliate over a seized crude tanker and problems with a North Sea pipeline kept investors wary of potential supply disruptions. Futures gained as much as 1.7 percent in New York on Monday. European powers urged Iran to reverse its decision to breach the levels of uranium enrichment permitted under the 2015 nuclear …

MOSCOW / WAM The UAE has been named as the partner country of Moscow Global Forum ‘City for Education’ set to take place in conjunction with Aqdar World Summit from August 29 until September 1 in Russia. Maadhad Hareb Mughair Al Khaili, UAE Ambassador to Russian Federation highlighted importance of hosting such international events that ensure the exchange of knowledge …

Bloomberg The Trump administration said trade talks with China are starting up again as Beijing reiterated that it’s essential the US removes all existing tariffs for a deal to be reached. US President Donald Trump and Chinese President Xi Jinping agreed last month to re-start trade talks and suspend new tariffs, but they gave no time-frame for further negotiations or …

Bloomberg Oil posted its first weekly loss since mid-June, as a forecast-topping US employment report wasn’t enough to offset the economic worries dogging the market. Futures in New York closed down 1.6 percent for the week, despite eking out an increase after the government said payrolls climbed by 224,000 in June. The ultimate fallout from the report was unclear as …

Bloomberg India plans to raise as much as $10 billion from its first overseas sovereign bond because there’s huge appetite for its debt in the foreign market, according to a top finance ministry official. “It’s a cautious beginning, which we need to make,” Economic Affairs Secretary Subhash Garg said in an interview. “In terms of risk management I don’t see …

Bloomberg Al Jaber Group agreed with banks to restructure $1.5 billion of debt for a second time, people with knowledge of the plan said. The group is close to signing a deal with about 20 creditors to push out loan maturities to December 2026, said the people, asking not to be identified because the information is private. In return, Al …

Bloomberg Oil gained after suffering its biggest drop on the day of an Opec meeting in more than four years. Futures rose 0.8 percent in New York after an industry report showed US oil inventories fell by almost 5 million barrels last week. Prices were still far from recouping the 4.8 percent decline, when concerns about the global economy overshadowed …

Bloomberg Oil slid to its worst loss in two weeks as mounting fears about the global economy undercut the latest plan from Opec and its allies to stabilise markets. Futures dropped by as much as 4.3 percent in New York, the steepest intraday decline since June 12. Bank of England Governor Mark Carney warned of the dangers of rising protectionism …

DUBAI / Emirates Business The total value of more than 26,000 construction projects exceeded AED9.25 trillion in June, according to the June 2019 Issue of the BNC Projects Journal: The Next Construction Circus — Setting the Stage for Growth, issued by BNC Network. Saudi Arabia leads the GCC region in the total value of construction projects worth $895.8 billion (AED3.29 …