News

  Reuters Iraq plans to double the volume of crude it pumps via a pipeline to Turkey to its normal rate of 150,000 barrels per day (bpd) next week, an official at state-run North Oil Company said . The company, which reports to the oil ministry in Baghdad, on Thursday resumed pumping oil from fields it operates in Kirkuk via …

  Reuters Saudi Arabia will permit foreign institutional investors to buy shares directly in initial public offers, a move that could help the government sell billions of dollars’ worth of stakes in state companies including oil giant Saudi Aramco. New rules published by the Capital Market Authority on Thursday, taking effect at the start of next year, list qualified foreign …

  Shanghai / Bloomberg China Investment Corp., the $814 billion sovereign fund, is leading a Chinese investor group in talks for a multibillion-dollar iron-ore streaming deal with Brazil’s Vale SA, people familiar with the matter said. The consortium is negotiating the potential purchase of a portion of Vale’s future iron-ore output for as long as 30 years, two of the …

  Bloomberg Origin Energy Ltd., the Australian energy producer and retailer, plans to start the sale of an Australian wind farm project after gauging interest from potential buyers, people with knowledge of the matter said. The Sydney-based company will ask next week for expressions of interest for its planned Stockyard Hill project west of Melbourne, one of the people said, …

  Bloomberg Australia upheld its decision to block foreign bidders from buying a majority stake in state-owned power network Ausgrid for more than A$10 billion ($7.6 billion), triggering a warning from China that the move will hurt bilateral ties. The deal would go against the national interest, Australian Treasurer Scott Morrison said in a statement on Friday, confirming last week’s …

  New Delhi / Bloomberg Prime Minister Narendra Modi promoted a deputy governor to lead India’s central bank, ensuring that sweeping reforms initiated under Raghuram Rajan would continue. Urjit Patel, who oversees the monetary policy department at the Reserve Bank of India under Rajan, has been appointed for three years, the government said in a statement on Saturday. Patel, 52, …

  Bloomberg Finance Minister Sri Mulyani Indrawati is putting trust-building at the top of her agenda as she tries to get more Indonesians to pay their taxes to raise funds for a massive infrastructure plan aimed at stimulating growth in Southeast Asia’s largest economy. “My job, first, is to restore confidence in the whole fiscal policy and our budget,” Indrawati …

  Abu Dhabi / WAM The UAE is deeply committed to protecting humanitarian workers and providing emergency relief to more than 130 million people affected by humanitarian crises in over 40 countries, Reem bint Ibrahim Al Hashemi, Minister of State for International Cooperation, said on Thursday on the occasion of World Humanitarian Day. In a statement to mark World Humanitarian Day, …

  KHARTOUM / WAM The Emirates Red Crescent, ERC, on Thursday launched a campaign to distribute humanitarian aid to the victims of floods and rains that hit large parts of Sudan. The campaign began with distributing more than a thousand blankets and some food parcels to those affected by the floods as a first stage. In an interview with the Emirates …

  Abu Dhabi / WAM His Highness Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of Abu Dhabi Executive Council, today called parents to prepare their children psychologically and educationally for the new academic year. In a series of tweets on his official account on the microblogging site, Twitter, he said that awareness is what shapes future. He was commenting on …