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Bloomberg Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers that the OPEC-led output cuts should continue, despite recent price gains. Futures were little changed in New York after rising 4.7 percent last week. The curbs have contributed to stability in the market and should ...

KHOBAR / Reuters State-controlled Saudi Electricity Co (SEC) has signed a deal with Japanese Tokyo Electric Power Co (TEPCO), Nissan Motor Co and Takaoka Toko for the first electric vehicle (EV) pilot project in the world’s largest oil exporter, it said. Saudi Arabia is keen to develop its auto industry as part of efforts to diversify the economy beyond oil ...

ABU DHABI / Reuters Saudi Arabia plans to prequalify for bidding firms from two or three countries by April or May for the first nuclear reactors it wants to build, a consultant for the government body work-ing on the nuclear plans said on Monday. Saudi Arabia, the world’s top oil exporter, wants nuclear power to diversify its energy supply mix, ...

Bloomberg Carillion Plc, a UK construction company with government contracts in everything from hospitals to the HS2 high-speed rail project, filed for compulsory liquidation after failing in a last-ditch effort to shore up finances and get a government bailout. The company employs 43,000 people worldwide, almost 20,000 of them in the UK, and has as much as $2.1 billion in ...

Bloomberg Europe’s growth resurgence is showing little sign of losing steam yet and economists have taken notice. In Bloomberg’s monthly survey, the first of the year, respondents bumped up their 2018 outlook to 2.2 percent, close to the decade-high 2.4 percent pace estimated for 2017. The optimism is in contrast to the muted view at the start of 2017. Economists ...

Bloomberg Ford Motor Co. will more than double spending on electrified vehicles, amplifying its investment in a segment that the auto industry sees growing from what’s now just a fraction of the market. The carmaker will shell out $11 billion bringing 40 electrified vehicles to market by 2022, Jim Farley, president of global markets, said during a presentation at the ...

Bloomberg In the first revamp of the G-Class since the rugged sport utility vehicle’s introduction nearly four decades ago, Mercedes-Benz took the approach that if it ain’t broke, don’t fix it. There’s a special “G” mode for offroad driving and a large flat screen. But aside from such flourishes, the styling is still dominated by flat steel surfaces and a ...

ABU DHABI / WAM Masdar, Abu Dhabi Future Energy Company, on Sunday signed a Share Purchase Agreement (SPA) with Akuo Energy, the French IPP in renewable energy, to enter into the Krnovo Wind Farm, Montenegro’s first wind energy project. The agreement was signed by Niall Hannigan, Chief Financial Officer of Masdar, and Eric Scotto, Chief Executive Officer of Akuo Energy, ...

ABU DHABI / WAM The UAE stocks maintained their bullish trend on the first trading day of the week supported by the realty sector led by Emaar, which closed on a high note of AED7.30. The positive performance of the Dubai property giant reflected favourably on the entire real estate sector at DFM whose general index rose 0.53 percent, to ...

ABU DHABI / WAM The fifth meeting of UAE – India High Level Joint Task Force on Investments (‘the Joint Task Force’) was held on Sunday in Abu Dhabi, with significant progress being made on a number of key issues of mutual importance. The meeting was co-chaired by HH Sheikh Ham-ed bin Zayed Al Nahyan, Chairman of the Abu Dhabi ...