News

Bloomberg President Donald Trump said on Saturday that he’d spoken at length with Chinese President Xi Jinping and that “big progress” is being made towards a deal between the world’s largest economies. The agreement will be “very comprehensive” and will cover “all subjects, areas and points of dispute,” the president said in a tweet. Trump’s comment comes as a US …

Bloomberg The US may be exporting natural gas at a record clip, but that hasn’t stopped it from accepting new imports. A tanker with fuel from Nigeria has berthed at the Cove Point import terminal in Maryland, while a second ship with Russian gas is idling outside Boston Harbor. Pipeline constraints, depleted stockpiles and a 98-year-old law barring foreign ships …

RAS AL KHAIMAH / WAM Zaki Anwar Nusseibeh, Minister of State, stated that the memory of the country’s founder and the builder of its modern advancement, the late Sheikh Zayed bin Sultan Al Nahyan, will remain with the UAE’s people. He made this statement during a dialogue meeting, titled, ‘Centennial of Zayed,’ which was held on Wednesday by the Emirates …

DUBAI / Emirates Business The Middle East and North Africa (Mena) continue to present one of the world’s key growth regions for printing. In 2019, the total value of the commercial print business in Mena is forecast to reach $32 billion, according to research from Smithers Pira, the worldwide authority on the packaging, print and paper supply chains. They released …

Bloomberg A diesel glut in Asia is encouraging traders of the fuel to ramp up cargoes from India to Europe, where stockpiles were ravaged by refinery halts and unusual weather earlier this year. Around 577,000 tonnes of the fuel already arrived this month or are en route to Europe from India’s refineries — whose supplies get sent east or west …

Bloomberg Hess Corp tumbled the most in almost three years, wiping out $1.5 billion in market valuation, after work at the oil explorer’s most promising international investment was halted by a Venezuelan blockade. The intervention threatened to derail development of a 5 billion-barrel discovery off Guyana’s coastline that is so important to Hess’s future growth plans that it receives top …

Bloomberg / Agencies Saudi Arabia plans to tender or award six water-related projects in 2019 as it pushes ahead with a privatisation programme. The cabinet has approved the tendering of seven desalination and wastewater projects. One was awarded this week, three are in various stages of tender process and three more will be offered to investors next year, the government’s …

RIYADH / WAM The official spokesman for the coalition to restore legitimacy in Yemen, Col. Turki Al-Malki has renewed coalition states’ support for the UN resolution regard-ing the Sweden Agreement on Yemen. The Saudi Press Agency quoted Al Malki as saying at a press conference on Tuesday that the UNSC resolution ensures the territorial integrity of Yemen in line with …

ABU DHABI / WAM The assets of UAE conventional banks (CB) amounted to around AED2.275 trillion, accounting for 79.7 percent of total banking assets by the end of November 2018, with Sharia-compliant banks accounting for 20.3 percent of total banking assets, according to statistics released on Monday by the Central Bank of UAE. The total assets of CB increased by …

CAIRO / WAM The United Arab Emirates is participating in the 32nd meeting of the Unified Arab Customs Law Committee, which began at the Arab League headquarters, under the chairmanship of the Kingdom of Saudi Arabia. The UAE delegation was headed by Ali Rashid Al-Dhanhani, Director of the Legal Affairs Department of the Federal Customs Authority, and included Ibrahim Al …