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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ABU DHABI / WAM Accommodation & Food Services contributed AED32.5 billion in real prices to the 2018’s GDP, a growth of 4.2 percent on year, according to Federal Competitiveness and Statistics Authority (FCSA). In real (constant) prices, the sector’s contribution to non-oil GDP reached 6.8 percent during 2018, maintaining the high momentum it has created over the past years, driven …
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Bloomberg Global banks will this week start making their case on why they should be hired for what’s set to be the world’s biggest initial public offering (IPO), according to people with knowledge of the matter. Dealmakers representing advisory firms from around the world will from Tuesday travel to Saudi Aramco’s headquarters in Dhahran in the kingdom’s Eastern Province to …
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