News

Bloomberg Oil rose for a fifth session, the longest run of gains since July, as a bigger-than-forecast decline in US crude stockpiles eased oversupply concerns. Futures climbed 0.6% in New York after closing at the highest level in three months. American crude supplies fell by 5.47 million barrels in the week ended December 20, more than three times the median ...

Bloomberg The US merchandise-trade deficit unexpectedly narrowed for a third month in November to the smallest shortfall in three years as exports increased and imports declined, the latest sign that economic growth is holding up at the end of the year. The gap decreased to $63.2 billion from $66.8 billion the prior month, according to Commerce Department data released on ...

Bloomberg Gulf borrowers raised more than $100 billion in bond placements this year, a record amount that marked a shift from the more private funding route offered by loans. Saudi Aramco was the biggest issuer, while Egypt, Oman and Saudi Arabia also tapped international bond markets. Syndicated loans dropped 39% this year as sovereigns and companies sold notes in dollars ...

Bloomberg The Hinduja Group is preparing a bid to buy grounded carrier Jet Airways India Ltd., according to people familiar with the matter. The UK-based group, run by brothers Gopichand Hinduja and Ashok Hinduja, plans to submit an expression of interest by the January 15 deadline, signaling its intent to make a formal offer. Hinduja is seeking a partner to ...

DUBAI / WAM The Commercial Compliance and Consumer Protection (CCCP), sector of Dubai Economy intensified monitoring commercial outlets in the emirate, particularly those announcing promotional offers and discounts as part of the Dubai Shopping Festival and New Year season, to protect the interests of all consumers. The CCCP aims to do this by ensuring transparency and authenticity of the promotions ...

Abu Dhabi / WAM Yas Island Abu Dhabi has closed off 2019 with resounding success, sweeping up 32 awards and accolades for its attractions, infrastructure projects and developments. Mohamed Khalifa Al Mubarak, Chairman of Miral, said, “As we come to the end of another successful year, we are both proud and humbled to be recognised for excellence around the world. ...

ABU DHABI / WAM The Abu Dhabi National Exhibitions Company (Adnec), announced the opening of online registration for exhibitors, media professionals and visitors to participate in the fourth edition of the Unmanned Systems Exhibition and Conference (Umex), and Simulation and Training Exhibition and Conference (SimTEX), and the accompanying conference. The Higher Organising Committee of Umex and SimTEX exhibitions indicated that ...

ABU DHABI / WAM The Abu Dhabi General Services Company, Musanada, has announced the completion of construction works on the Mohamed bin Zayed School. Construction costs of the all-boys school reached AED170 million, Musanada revealed, adding that the project was undertaken as part of the Abu Dhabi Future Schools Programme (ADFSP). The handover process to the Abu Dhabi Department of ...

DUBAI / Emirates Business Dubai International Financial Centre (DIFC), a global top 10 International Financial Centre and the leading financial hub in the Middle East, Africa and South Asia (Measa), signed individual memorandums of understanding (MoU) with two leading institutions to fuel the region’s insurance sector by upskilling talent as well as promoting efficiency and improvement. MoUs were signed with ...

Bloomberg A senior Chinese diplomat said China will honour its phase-one trade commitments, and suggested that the US live up to theirs on issues such as Taiwan. In an interview with Chinese state television CGTN on December 28 night, Cui Tiankai, China’s ambassador to the US, also said talk of a new cold war was “very irresponsible.” The comments came ...