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DUBAI / WAM As part of its leading investor and issuer services, Dubai Financial Market (DFM) has successfully accomplished the cash dividend distribution for the financial year 2017. As much as AED15.8 billion been disseminated to 466,482 investors. The number of listed companies that have outsourced the dividend distribution process to DFM increased from 35 companies during the previous year …

Bloomberg Abraaj Group has reached an agreement to sell its stake in Middlesex University’s Dubai campus to Amanat Holdings PJSC for about $100 million, people with knowledge of the matter said. An initial agreement has been signed and the deal is yet to close, the people said, asking not to be identified because the information is private. Dubai-based Amanat would …

Bloomberg China and the European Union vowed to oppose trade protectionism in an apparent rebuke to the US, saying unilateral actions risked pushing the world into a recession. Vice Premier Liu He — President Xi Jinping’s top economic adviser — said China and the EU had agreed to defend the multilateral trading system, following talks on Monday in Beijing. The …

Bloomberg Big Oil’s fortunes are becoming tied more closely to natural gas than ever before. Majors including Royal Dutch Shell Plc and BP Plc have boosted their proportion of gas output in recent years, helping them trim Exxon Mobil Corp.’s lead as the world’s most valuable oil company. Meanwhile Chevron Corp. added two giant Australian liquefied natural gas projects and …

Bloomberg Angola is targeting an increase of about 250,000 barrels a day in oil output by 2020 and is already in discussions with oil majors Exxon Mobil Corp. and Equinor ASA to achieve this, said Sonangol’s Chairman of the Board Carlos Saturnino. New energy legislation and more favourable investment terms have already spurred interest from international operators, including Chevron Corp. …

Bloomberg The Republic of Congo expects to raise oil production by as much 65 percent this year as two new projects come on stream, Hydrocarbons Mi- nister Jean-Marc Thystere-Tchicaya said. Congo joined OPEC and plans to open up its oil industry, which the government says is dominated by Total SA and Eni SpA, to new investors. Sub-Saharan Africa’s third-biggest oil …

Bloomberg Saudi Arabia promised to act decisively to keep oil prices under control, signalling a real supply boost approaching 1 million barrels a day is on the way to global markets. “We will do whatever is necessary to keep the market in balance,” Saudi Energy Minister Khalid Al-Falih told reporters, while sitting alongside his Russian counterpart Alexander Novak at OPEC …

Bloomberg Egypt may have just issued its last LNG tender, setting the stage to resume exports next year. Imports of liquefied natural gas may stop in the fourth quarter, allowing for exports to start early next year as Eni SpA’s Zohr and other gas fields boost production in the country and help to draw more foreign investment, Petroleum and Mineral …

Bloomberg OPEC and its allies gave the final sign-off to an oil-production increase, sealing a victory for Saudi Arabia and Russia. Major producers outside the Organization of Petroleum Exporting Countries — including Mexico and Kazakhstan — met ministers from the cartel on Saturday and endorsed a nominal output increase of 1 million barrels a day, said Ecuador’s Minister of Hydrocarbons …

WASHINGTON / WAM Sultan bin Saeed Al Mansouri, Minister of Economy, and US Commerce Secretary, Wilbur Ross, discussed ways to enhance cooperation in the economic and trade fields between the two countries. This came during a meeting held in Washington during the official visit of Al Mansouri to take part in The Select USA Investment Summit is being held from …