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Abu Dhabi / Emirates Busines Strata Manufacturing PJSC (Strata), the advanced composite aero-structures manufacturing facility wholly owned by Mubadala Investment Company PJSC, has revealed key business highlights for 2017 as it continues to make its mark on the global aerospace supply chain and contribute towards Abu Dhabi’s economic diversification plans. The Al Ain-based business is seeking to reinforce its position ...

MUMBAI / Reuters India state refiners expect their profit margins to hold their strength this year as demand growth accelerates for fuel products amid a record $93 billion spent on infrastructure and stable crude oil prices, company executives and analysts said. India’s sales of cars and especially motorbikes are forecast to rise rapidly, even as the development of a Delhi-Mumbai ...

Bloomberg Two of the world’s biggest energy producers have abandoned the sale of some of Australia’s oldest oil fields after running a 20-month sales process. Exxon Mobil Corp. and BHP Billiton Ltd. will retain ownership and operation of fields, licenses and associated infrastructure held in the Gippsland Basin Joint Venture after concluding a sale process, Exxon’s Esso Australia unit said ...

Bloomberg The rollercoaster that drags liquefied natural gas prices higher as demand jumps in the northern hemisphere winter is going into overdrive. After a winter in which an unexpected boost in demand from China pushed prices to three-year highs, spot LNG in northeast Asia has plummeted about 30 percent from its mid-January peak. Summer plunges and winter spikes are the ...

Bloomberg Centrica Plc stepped up its cost cutting drive and planned the sale of nuclear assets as its profit dropped. The UK’s biggest energy supplier increased its cost savings target by about 66 percent to 1.25 billion pounds ($1.73 billion) a year by 2020, Centrica said in its full-year earnings statement. It intends to sells its 20 percent stake in ...

Reuters Libya’s National Oil Corporation (NOC) said on Saturday it had declared force majeure on the 70,000 barrels per day (bpd) El Feel oilfield after a protest by guards closed the field. El Feel was shut after guards withdrew from the field to push demands over pay and other benefits earlier this week. The NOC said force majeure was declared ...

Bloomberg The founder of Zhejiang Geely Holding Group Co. has accumulated a stake worth about 7.3 billion euros ($9 billion) in Daimler AG, marking the biggest investment in a global automobile manufacturer by a Chinese company. Li Shufu acquired the 9.7 percent holding through Geely Group, a company owned by the billionaire and managed by his carmaking group, according to ...

Bloomberg India may export more sugar than previously forecast as higher yields boost supply in the world’s top consumer. Shipments may total 1.5 million metric tons in the next six to eight months, said Abinash Verma, director general of the Indian Sugar Mills Association. In January, he said millers were asking the government to abolish a 20 percent export duty ...

Bloomberg China’s insurance regulator found three domestic insurers violated foreign investment rules, giving the companies a month to “correct” the breaches. China Re Asset Management Co., China Life Insurance Co. and Ping An Insurance (Group) Co. violated regulations on investable countries and regions, the China Insurance Regulatory Commission said in three separate notices posted on its website. The statements didn’t ...

Bloomberg Luye Medical Group, the health-care services provider backed by acquisitive Chinese entrepreneur Liu Dianbo, picked banks to manage a Singapore initial public offering that could raise about $500 million, people with knowledge of the matter said. Bank of America Corp., Credit Suisse Group AG and UBS Group AG were chosen after submitting proposals earlier this month, according to the ...