News

Abu Dhabi / WAM CNBC, the business and financial news network, on Tuesday unveiled plans for a Middle East Headquarters in Abu Dhabi. The network will begin broadcasting from a new studio at Abu Dhabi Global Market (ADGM), in the first quarter of 2018. The network plans to anchor one of its daily global business news programmes from its new ...

ABU DHABI / WAM The Board of Directors of the UAE Central Bank has held its 8th meeting under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board. During the meeting, the Board discussed the Central Bank’s Operational Plan for 2018, HR regulations, policies, procedures and transformation. The Board also discussed and approved the Bank’s budget for the ...

Abu Dhabi / Emirates Business Etihad Airways is to operate its flagship Boeing 787 Dreamliner on the Abu Dhabi – Casablanca route, effective May 1, 2018. Casablanca will be the first North African destination to be served by Etihad Airways’ next generation aircraft which is fast becoming the backbone of the Abu Dhabi-based carrier’s long-haul fleet. The three-class aircraft, featuring ...

ABU DHABI / WAM Abu Dhabi General Services Company (Musanada), announced the completion of all works on the Al Quaa Special Needs Rehabilitation and Care Centre project in Al Ain. The Centre is currently being handed over to Zayed Higher Organisation for Humanitarian Care & Special Needs (ZHO). The move is part of Musanada’s efforts to deliver projects that serve ...

DAMMAM / Reuters Saudi Aramco plans to raise its spending to $414 billion over the next 10 years, including on infrastructure and drilling, as the state oil giant moves into new businesses, executives said. The spending plan is higher than Aramco’s projection last year of around $334 billion by 2025, as the oil producer has been expanding its businesses, the ...

Bloomberg The Trump administration is preparing to unveil as soon as this week an expansive offshore oil plan that would open the door to selling new drilling rights in Atlantic waters, according to people familiar with the plan. President Donald Trump ordered his Interior Department to write the new blueprint with the aim of auctioning oil and gas drilling rights ...

LONDON / Reuters Less than two weeks after OPEC’s decision to extend oil production cuts, Libya and Nigeria — the only two exempt members of the group — are signalling their intent to raise output next year. While several ministers at the November 30 meeting of the Organization of the Petroleum Exporting Countries suggested the two nations had joined the ...

Bloomberg The effects of a hairline crack in one of the world’s most important oil conduits is rippling through crude markets from Europe to the US and Asia. The Forties Pipeline System is being shut after the fault was discovered near Aberdeen, Scotland. That pushed global benchmark Brent futures over $65 a barrel for the first time since June 2015, ...

Bloomberg India’s richest man is weighing an initial public offering of mobile operator Reliance Jio Infocomm Ltd., people with knowledge of the matter said, after a $31 billion investment spree that roiled the country’s wireless market. Reliance Industries Ltd., the conglomerate backed by tycoon Mukesh Ambani, is holding internal discussions about preparing to list Jio as soon as late 2018 ...

Bloomberg Southeast Asia’s internet economy, spanning online travel to ride-hailing, will reach $50 billion this year, putting it on a solid trajectory to grow fourfold by 2025, according to a joint research report by Google and Temasek Holdings Pte. As more consumers buy airline tickets and book hotels through smartphones, the region’s online travel market expanded from $19.1 billion in ...