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Bloomberg Oil traded near a three-month high in New York as Organisation of Petroleum Exporting Countries (Opec’s) output curbs tightened global supply while trade talks between the US and China lifted financial markets. Futures rose as much as 1.3 percent to the highest since November 20, after advancing 5.4 percent last week. President Donald Trump said talks with China were …

Bloomberg TransCanada Corp. was partly denied a request to continue some pre-construction work on the Keystone XL oil pipeline while a dispute over the project’s environmental review wends its way through the courts. The company won’t be allowed to prepare sites for construction camps, but it will be allowed to prepare pipeline-storage and container yards and receive pipe at those …

ADELAIDE / WAM The United Arab Emirates Space Agency (UAESA), signed a Memorandum of Understanding (MoU), with the Australian Space Agency, which aims to promote the exchange of best practices, knowledge sharing and enhance cooperation and collaboration between both parties in support of space research and technology The MoU was signed at the Australian Space Agency in Lot Fourteen, Adelaide, …

Abu Dhabi / WAM The UAE Armed Forces awarded AED4.971 billion in contracts on the first day of the International Defence Exhibition and Conference (Idex 2019), and Naval Defence and Maritime Security Exhibition (Navdex 2019), with the lion’s share of deals going to national companies. Speaking at a press conference Staff Brigadier-General Mohammed Al Hassani, Official Spokesperson of Idex 2019, …

Bloomberg Saudi Arabian Military Industries and France’s Naval Group SA entered a joint venture (JV) to develop vessels in the kingdom, which seeks to promote local manufacture of armaments. The Saudi government-backed firm will hold a 51 percent stake and the French naval defense company will have the rest. The new company will develop, engineer and manufacture frigates, corvettes and possibly …

Dubai / WAM Etihad Credit Insurance (ECI), set a strategy and growth plan aligned with the UAE economic agenda, setting a target to support $3 billion in non-oil exports and re-exports. The announcement came during the recent ECI 2019 Kick-Off Meeting at the Jumeirah Emirates Towers Hotel in Dubai. The event highlighted ECI’s goal to support UAE-based companies with over …

Bloomberg Oil rose to the highest level this year as Saudi Arabia curtailed output at its largest offshore field and amid signals of a thaw in US-China trade tensions. Futures in New York advanced 2.2%. Saudi Arabia was said to trim supply from its giant Safaniyah field to repair a damaged power cable. Chinese President Xi Jinping said US-China trade …

ABYAN/ wam The Emirates Red Crescent (ERC), sent a relief aid convoy to the population in Ahwar District in Abyan Governorate in a continuation to the UAE’s humanitarian aid provided to the liberated areas in Yemen.

Bloomberg Oil climbed for a second day after Saudi Arabia pledged to deepen production cuts and US President Donald Trump said he might extend a deadline for additional tariffs on China. Futures in New York added as much as 1.5% after rising 1.3% on Tuesday. The world’s biggest crude exporter will continue to curb output more than required by a …

Bloomberg Eskom Holdings SOC Ltd. said will cut 3,000 megawatts of power from the South African grid from 8 a.m. until 11 p.m on Wednesday, marking the fourth consecutive day of such measures. The state-owned power utility, which supplies more than 90 percent of the country’s electricity, is implementing the rolling blackouts due to a shortage of generating capacity, Eskom …