DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) reported that the number of its online transactions is continuously growing. The company recorded a total of 250,000 transactions performed through its e-services system from January to July 2018. Empower aims to increase the number of e-services subscribers to achieve 100 percent online transactions. The e-services allow customers to pay bills …
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DUBAI / Emirates Business Emirates has launched one of its biggest sales yet with special fares to over 70 global destinations within its network. Passengers can still plan a short getaway before the summer season ends to destinations in the Americas, Europe, Middle East, and the Far East. The offer applies to bookings made on Sunday until August 20 for …
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Bloomberg General Electric Co. is working with bankers on a possible sale of its power-conversion business, people familiar with the matter said, as the fallen manufacturer attempts to regain its footing by slimming down. The unit formerly known as Converteam could fetch about $1.5 billion, below the $3.2 billion GE paid for the assets in 2011, said the people, who …
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Bloomberg State-owned Indian Oil Corp. posted a 50 percent jump in quarterly profit as the margin for converting crude into fuels more than doubled. Net income climbed to 68.3 billion rupees ($992 million) in the quarter ended on June 30, from 45.5 billion rupees a year earlier, the company said in a stock-exchange filing. That compares with the 53.3 billion-rupee …
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Cairo / Emirates Business The Emirates NBD Purchasing Managers’ Index (PMI) for Egypt, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the Egyptian private sector. Commenting on the Egypt PMI survey, Daniel Richards, MENA Economist at Emirates NBD, says, “The positive PMI reading for the first month …
Read More »KHARTOUM / WAM The Kingdom of Saudi Arabia is making strenuous efforts for the convenience and comfort of millions of pilgrims while performing the fifth pillar of Islam, stated Dr Mohammed Mattar Al Kaabi, Chairman of the General Authority of Islamic Affairs and Endowments, Awqaf, and Head of the UAE Haj Mission. “The KSA warmly welcomes millions of pilgrims and …
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ADDIS ABABA / WAM Ethiopian Prime Minister, Abiy Ahmed, received Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, and discussed prospects for joint cooperation, especially in vital areas of energy, infrastructure, investment, free industrial zones and civil aviation. While in the capital, Addis Ababa, Al Hashemy held a series of meetings with Ethiopian senior officials, tackling bilateral …
Read More »ABU DHABI / WAM The UAE has strongly condemned a vehicle explosion that took place when gendarmerie and public security personnel were taking part in a joint patrol in the Jordanian capital, Amman. “The UAE stands in solidarity with the Hashemite Kingdom of Jordan against any attempts to its security and stability and supports whatever measures it may take to …
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Bloomberg Fears about global oil supplies have receded after producers pumped more, according to the International Energy Agency (IEA), which a month ago warned of a potential shortage. “Concerns about the stability of oil supply have cooled down somewhat, at least for now,†the agency, which advises most of the world’s major economies, said in a monthly report. “We have …
Read More »Bloomberg After partnering for nearly three decades at Australia’s oldest liquefied natural gas export plant, Woodside Petroleum Ltd. and Chevron Corp. are competing to shape the next phase of the country’s gas development. Both are vying to build a pipeline from hundreds of kilometers offshore that will allow them to develop their own fields, as well as let third parties …
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