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Bloomberg From iron ore to baby formula, electronic parts, China is buying everything you can think of, and that will soon make the world’s biggest exporter the top importer in the next few years. China already takes more imports that the US does from Asia, Africa, Oceania, South America and Eastern Europe, and it will likely snatch the No1 importer ...

Bloomberg A public-relations firm became the latest company to ask an Indian tribunal to place billionaire Anil Ambani-run Reliance Communications Ltd. under insolvency proceedings after the unprofitable mobile-phone operator failed to pay its dues. Fortuna Public Relations Pvt. placed its request with the Mumbai bench of National Company Law Tribunal on Monday, saying Reliance Communications owes it $67,000. The NCLT ...

RIYADH / Reuters Saudi Arabia’s Energy Minister Khalid al-Falih said on Monday oil producers might start discussing in June when to raise output once the market out-look was clearer, even though OPEC was expected to conti- nue output curbs in the second half of 2018. The Organization of the Petroleum Exporting Countries and non-OPEC producers led by Russia have agreed ...

NEW DELHI / SINGAPORE / Reuters Two of India’s state-owned oil refiners have issued tenders seeking to charter tankers for at least five years while giving preference to Indian companies, tender documents reviewed by Reuters showed, which would boost domestic shipping firms battered by slumping tanker rates. India’s Ministry of Shipping asked the refiners to issue long-term crude import tenders ...

RIYADH / Reuters Saudi Arabia has invited US firms to take part in developing its civilian nuclear power programme, Energy Minister Khalid al-Falih said on Monday, adding the kingdom was not interested in diverting nuclear technology to military use. Reuters has reported that Westinghouse is in talks with other US-based companies to form a consortium for a multi-billion-dollar project to ...

Bloomberg From oil majors to trading companies to pipeline operators, US companies are jumping at the chance to supply a newly free Mexico fuel market. After years of preparation, Mexico finished liberalizing prices for gasoline and diesel across the country. Foreign companies were allowed to start moving fuels in April last year, but now consumers’ costs will be more closely ...

Bloomberg Don’t expect Big Shale to rush and fill the hole left by OPEC in the oil market. Executives from three of the biggest independent US drillers say they won’t increase activity just because prices rise after the Organization of Petroleum Exporting Countries and its allies agreed to extend output curbs. The emphasis, instead, will be on maintaining spending discipline ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has attended the March of Union on Sunday as part of the Sheikh Zayed Heritage Festival 2017 in Al Wathba, Abu Dhabi, on the occasion of the 46th National Day. The march organised by ...

Dubai / Emirates Business Dubai Land Department (DLD) has announced that in line with a regulatory decision issued by His Excellency Sultan Butti bin Mejren, Director General of DLD, it has closed its Records Department to make the transition to a fully smart archiving system. To achieve the transformation, DLD has collaborated with a company specialised in photovoltaic archiving. The ...

ABU DHABI / WAM Senaat on Sunday announced its support to the 8th edition of Sheikh Zayed Heritage Festival, one of the most celebrated cultural festivals in Abu Dhabi. Held under the patronage of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the festival is an annual event established to honour the UAE’s founding father, the late Sheikh Zayed ...