News

ABU DHABI / WAM The United Arab Emirates (UAE) welcomes the decision of the International Court of Justice (ICJ) on July 23 in regards to Qatar’s request for Provisional Measures under the International Convention on the Elimination of all Forms of Racial Discrimination. The ICJ refused to grant any of the Provisional Measures specifically requested by Qatar. By a very ...

Bloomberg Saudi Aramco, the world’s largest oil company, is lining up banks to raise money to acquire as much as 70 percent of chemical producer Saudi Basic Industries Corp. in a deal that could value the stake at about $70 billion, according to people familiar with the matter. Some of Wall Street’s biggest lenders are offering Aramco loans for the ...

Bloomberg The booming market for liquefied natural gas can weather an escalating US-China trade war. But the risks are mounting. So far, LNG has been left off the growing list of tit-for-tat tariffs. If that changes, prices will rise and deter buyers just when new markets for the fuel are opening up, according to Paul Wogan, the chief executive officer ...

Bloomberg India’s plan to cut imports of Chinese solar cells and modules by imposing a safeguard duty may have the opposite effect in the short run, according to ICBC International Research Ltd. Stockpiles could rise rapidly as Indian developers hoard more modules before the proposal to impose a 25 percent safeguard tariff is expected to take effect in the next ...

HODEIDAH / WAM The Director of the UN Office for the Coordination of Humanitarian Affairs (OCHA) in Aden, has praised the UAE’s humanitarian and relief efforts through the Emirates Red Crescent (ERC) in Hodeidah Governorate and the Red Sea Coast of Yemen. This came during a meeting with Saeed Al Kaabi, UAE Humanitarian Operations Director for Yemen, where the UN ...

Bloomberg Two United Arab Emirates airlines have held talks with South African Airways about a partnership that it says is needed to revive its business, City Press reported, citing the UAE ambassador to South Africa. Talks between Emirates Airline and SAA, which have been going on for some months, are being facilitated by the UAE’s embassy in Pretoria, the Johannesburg-based ...

Bloomberg Energy executives say the fuel Chancellor Angela Merkel has picked for Germans as a bridge towards a cleaner future could turn out to be another dead end without political guarantees to draw investment. “I can’t imagine a rational investor who would invest in large-scale gas capacity” without government assurances, said Uniper SE Chief Executive Officer Klaus Schaefer in Berlin. ...

Bloomberg A US judge threw out New York’s lawsuit seeking to hold five of the world’s biggest oil companies financially responsible for contributing to climate change. US District Judge John Keenan dismissed the city’s claims against Exxon Mobil Corp, Chevron Corp, BP Plc, Royal Dutch Shell Plc and ConocoPhillips, ruling that the federal Clean Air Act controls carbon dioxide emissions ...

Bloomberg European utilities fell after UK energy company SSE Plc said the dry, mild weather that cut quarterly profit could hurt full-year results. The Stoxx Europe 600 Utilities index dropped to a two-week low, led by Orsted AS, the world’s biggest offshore wind-farm developer. SSE, the second-worst performer, fell the most since May and UK energy supplier Centrica Plc slumped ...

Bloomberg The Trump administration’s plan to subsidise unprofitable coal and nuclear plants may cost as much as $35 billion a year, according to a study backed by trade groups opposed to the idea. Giving power plants an out-of-market annual payment of $50 per kilowatt of capacity — roughly the average operating shortfall for plants running at a deficit — would ...