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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 ...

Bloomberg Toshiba Corp. and Western Digital Corp. have agreed in principle to settle their legal dispute over the $18 billion sale of Toshiba’s flash-memory business with a nannouncement expected within the next 24 hours, according to people familiar with the matter. The US company will drop arbitration claims in the US that were aimed at stopping Toshiba from selling the ...

Bloomberg India’s adoption of its first nationwide identification system is helping empower the country’s women and driving increased use of banking services, according to the first study of the nationwide Aadhaar programme. Virtually all homes in the western state of Rajasthan have at least one bank account, and most have several, since the introduction of the Aadhaar programme, the Center ...

Bloomberg International Trade Secretary Liam Fox said the UK would like a trading relationship with the European Union after it leaves the bloc that’s “virtually identical” to the one it has now. A trade deal similar to the current arrangements would ensure a smooth transition period, Fox said in in Buenos Aires while attending a World Trade Organization ministerial meeting. ...