ABU DHABI / WAM Al Dahra has announced that following its acquisition of Agricost and Braila Island, the largest consolidated farm in Europe, the company plans on investing an additional $500 million in Romania over the coming five years, in various sectors. This announcement coincides with a visit to Romania by a delegation comprising the executive leadership team from Al …
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Bloomberg The Trump administration’s tariffs on another $200 billion in Chinese goods kicked in on Monday, ramping up a trade war between the world’s two biggest economies. The latest round of US duties took effect just after midnight Washington time on Monday on a list of products ranging from frozen meat to television components. China is poised to retaliate with …
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DUBAI / WAM The race to become the world’s first smart city has become more exciting with recent and wider applications of disruptive technologies. The building blocks for smart cities will be showcased at the Future Cities Show (FCS), in April, 2019 in Dubai. With the theme ‘Propelling Globalisation through Digital Transformation’, FCS will support the growth of smart city …
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Bloomberg Major oil trading houses are predicting the return of $100 crude for the first time since 2014 as Organisation of Petroleum Exporting Countries (Opec) and its allies struggle to compensate for US sanctions on Iran’s exports. With Brent crude already jumping to an almost four-year high on Monday, that’s exactly the kind of price surge President Donald Trump has …
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Bloomberg After years of easy money, many of the world’s biggest oil traders are enduring a brutal new reality. Traders have been wrong-footed by wild swings in price spreads between oil grades, particularly in the US market. Amid dwindling profits, trading desks are being overhauled, with some firms restructuring their operations and paring budgets designed for better times. It’s a …
Read More »Bloomberg Egypt’s biggest outsourcing services provider, Raya Contact Center, is expanding as economic growth rebounds and a weaker currency makes it more competitive. The Cairo-based company, which operates offshore call centers and offers other corporate services, added about 1,000 workstations this year, compared to a previous annual average of 400 workstations, Chief Executive Officer and Managing Director Reem Asaad said. …
Read More »Bloomberg Coronado Global Resources Inc., a miner backed by private equity firm Energy & Minerals Group, and current investors are seeking to raise as much as A$1.4 billion ($1 billion) in what would be Australia’s largest coal initial public offering. The company and existing holders are offering Chess Depository Interests at A$4 to A$4.80 each, according to a prospectus lodged …
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Bloomberg The rise of US shale oil is set to extend well into the 2020s, stealing market share from the Organization of Petroleum Exporting Countries (Opec), the group said in its latest World Oil Outlook. Total supply from outside of the Opec will surge by 8.6 million barrels a day from 2017 to 2023, to 66.1 million barrels a day …
Read More »Abu Dhabi / WAM Jamal Saif Al Jarwan, Secretary-General of the UAE International Investors Council, described the ties between the UAE and Saudi Arabia as strong on all levels due to the support of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and King Salman bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques and King of Saudi …
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Bloomberg The debacle over Canada’s oil pipeline nationalisation and trade tensions with the US won’t affect the final investment decision on Royal Dutch Shell Plc’s C$40 billion ($31 billion) liquefied natural gas project, according to the head of the venture. Shell-led LNG Canada proposes to export as much as 26 million tons per year to Asia, making it potentially the …
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