SEOUL / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Moon Jae-in of South Korea, on Wednesday attended — at the Blue House in Seoul — the signing of an agreement between the Abu Dhabi National Oil Company (Adnoc), and South Korea’s SK …
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GENEVA / WAM As part of its commitment to achieving peace and prosperity in Yemen, the UAE has pledged $500 million for Yemen in 2019. The funding includes grants for United Nations agencies to support Yemen as well as commitments on a bilateral basis, to finance ambitious stabilisation programmes, working with many Yemeni and international partners. The UAE has also …
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GENEVA / WAM Aldar Investments Properties has announced it’s acquiring full ownership of Etihad Plaza and Etihad Airways Centre in an AED1.2 billion transaction with Etihad Airways. As part of the deal, Etihad will take 100 percent ownership of Etihad Airways HQ. The three properties were previously held in three 50/50 joint ventures between Aldar Properties and Etihad (the JV). …
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Bloomberg Oil climbed in New York as Saudi Arabia signaled that Opec and its allies will keep going with production cuts. West Texas Intermediate futures advanced as much as 2.1 percent. Opec’s most powerful member is inclined to extend the supply cuts into the second half of the year, Saudi Energy Minister Khalid Al-Falih said in Riyadh. US stockpiles fell …
Read More »DUBAI / WAM The Dubai Maritime City Authority (DMCA) launched the Smart Mobile Service, the latest addition to the maritime innovation and transformation march, with positive interaction from exhibitors and visitors at the Dubai International Boat Show (DIBS) 2019 at Dubai Water Canal. Hailing from the smart car concept, the Smart Mobile Service, is equipped with state-of-the-art technological innov- ations offering …
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SEOUL / WAM During an official visit to the Republic of Korea by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Abu Dhabi National Oil Company (Adnoc) has signed three framework agreements with Korean energy companies. The agreements will explore upstream exploration and production opportunities, …
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ABU DHABI / WAM Mubadala Petroleum has announced that it signed the Production Sharing Contract (PSC) together with its partner PTTEP Energy Development Company Limited (PTTEP ED), a subsidiary of PTT Exploration and Production Public Company Limited, for offshore Block G1/61 containing the Erawan producing gas field in Thailand. The current Block G1/61 concession will expire in April 2022 and …
Read More »BELGRADE / WAM President Aleksandar Vucic of Serbia has opened the textile factory ‘Armis Luss Protect’ textile factory in the Raska District. The factory was funded by the Khalifa bin Zayed Al Nahyan Foundation. The opening ceremony was attended by the UAE Ambassador to Serbia Mubarak Saeed Ahmed Barasheed Al Dhaheri. The Serbian President thanked the UAE and the Khalifa …
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Bloomberg President Donald Trump said he’ll extend a deadline to raise tariffs on Chinese goods beyond this week, citing “substantial progress†in the latest round of talks that wrapped up in Washington. “The US has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other …
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Bloomberg Oil prices could potentially rise as much as 13 percent from current levels, though the rally may prove fleeting, according to Goldman Sachs Group Inc. Top Opec member Saudi Arabia is cutting output faster than US shale drillers can fill the gap, leaving a void in the market that may push global benchmark Brent crude to $70-$75 a barrel …
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