Bloomberg Russia breached its oil-output quota agreed with OPEC for a third straight month as the producing alliance prepares for crucial talks this month on increasing supplies. Oil output averaged 10.97 million barrels a day in May, almost unchanged from a month earlier, according to data emailed by the Energy Ministry’s CDU-TEK statistics unit. That means its compliance with the …
Read More »YEMEN/ WAM As many as 36 members of the Iranian-backed Houthi militias including their leader were killed during confrontations with the Yemeni National Resistance Forces on different fronts in Yemen’s Red Sea Coast. The confrontations between the Yemeni Resistance Forces and the Houthi militias centered in the Taif, Al Husayniyah, and Tahita areas. The Resistance Forces were able to clear …
Read More »OTTAWA / WAM The UAE Minister of Economy, Sultan bin Saeed Al Mansouri, has met with the Canadian Minister of Transport, Marc Garneau, and discussed ways to develop joint cooperation in the air transport field and reviewed the offer made by the Canadian side to increase the number of direct flights between the two countries. During the meeting, Al Mansouri …
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Bloomberg Royal Dutch Shell Plc is attempting to market some of its natural gas as clean energy, packaging it with credits for eco-friendly projects that offset pollution coming from the fuel. The oil giant is offering business customers in Europe a combination of gas and certificates that show emissions are offset with financing for carbon-reduction projects. It’s testing markets in …
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Bloomberg Italian power giant Enel SpA won a highly contested multibillion-dollar battle for AES Corp.’s Brazilian utility in a move that will more than double its presence in the country’s electricity distribution market. Enel’s 45.22 reais-a-share ($12.14) offer for Eletropaulo SA topped a final one by leading rival Iberdrola SA of Spain in sealed bids opened on the Sao Paulo …
Read More »Bloomberg General Electric Co. is moving closer to a sale of its industrial gas-engine business for more than $3.5 billion after narrowing the list of bidders, according to people familiar with the matter. Manufacturers Cummins Inc. and Kohler Co., as well as a group comprised of investment firms KKR & Co. and B&C Industrieholding GmbH, advanced to the next round …
Read More »GENEVA / WAM The UAE and Afghanistan have signed an MoU in the area of labour, on the sidelines of the 107th International Labour Conference in Geneva, Switzerland. The MoU was signed by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, and Faizullah Zaki Minister of labour, social affair, Martyrs and disabled of Afghanistan. Al Hamli stated …
Read More »GENEVA / WAM To connect the as yet unconnected around the world to the internet is only a first step towards ensuring that all societies participate in an increasingly digital world economy. Best-connected users benefit from internet capacity that is 200 times greater than that of the worst-connected in parts of Africa and Asia. Those left behind will not benefit …
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ABU DHABI / WAM As the Saudi ICT market tops SAR 127 billion ($33.87 billion) , cloud investment will fast-track Saudi Vision 2030 goals and Smart Cities growth, according to the newly-appointed MD of Saudi Arabia, SAP. Cloud investment is gathering momentum, with Saudi organisations increasing software spend by 5.5 percent, increasing the Saudi ICT market to SAR 127 billion, …
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Bloomberg Canada’s purchase of Kinder Morgan Inc.’s embattled pipeline is good news for the oil patch, so long as it doesn’t become the norm. While the $3.5 billion Trans Mountain takeover keeps alive a project seen as critical to expanding markets for Canada’s crude and improving the price oil-sands producers get paid, it also reveals how key infrastructure projects can …
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