News

DUBAI / Emirates Business Emirates, the world’s best airline according to TripAdvisor 2017, will be adding an extra flight to its service between Dubai and Algiers, making it a daily service from December 13. The launch of the additional flight will complement Emirates’ current six flights a week, and further boost inbound and outbound passenger traffic and cargo flows between ...

DUBAI / Emirates Business Under the patronage of HE Dr Abdullah Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Federal Transport Authority – Land and Maritime, the third Maritime Academic Conference & Expo (MARACAD 2017) was held at the Dubai World Trade Centre. MARACAD was held amid the UAE’s comprehensive international campaign to rally support for its ...

Bloomberg Oil extended a two-year high above $60 a barrel in London amid growing signs that OPEC and Russia will press on with supply curbs, and as pipeline flows from Iraq were disrupted. Brent crude futures added 0.3 percent. Saudi Arabian Crown Prince Mohammed bin Salman last week backed extending production cuts by the Organization of Petroleum Exporting Countries and ...

Bloomberg Saudi authorities plan to keep selling local bonds every month as they seek to finance the bud- get deficit and deepen a nascent debt market, according to the official overseeing the kingdom’s borrowing strategy. Fahad Al-Saif, head of the debt management office at the Ministry of Finance, said local issuance makes up about 65 percent of the kingdom’s sales ...

Bloomberg Ghana is extending the issuance of non-sovereign bonds that the country needs for settling the legacy debts of state-owned energy utilities after demand for the securities fell short of the 6 billion cedi ($1.4 billion) target. While the West African nation allocated 2.4 billion cedis in seven-year bonds at 19 percent after receiving 2.5 billion cedis in bids, it ...

RIYADH / Reuters Saudi petrochemicals firms should merge to boost their competitiveness and look to expand abroad, the head of major industry player SABIC told Reuters on Monday. The firms have enjoyed decades of cheap feedstock prices. But Saudi authorities began slashing subsidies in 2016, as a collapse in oil prices cut into state finances, prompting a search for efficiencies ...

Bloomberg Puerto Rico plans to cancel a $300 million contract to rebuild the hurricane-ravaged electrical grid that went to a tiny company based in Interior Secretary Ryan Zinke’s Montana hometown, the head of the island’s power utility said. Ricardo Ramos, executive director of the Puerto Rico Electric Power Authority, or Prepa, said he will request permission from the utility’s board ...

Bloomberg Toyota Motor Corp. is eyeing airless tires to help reduce the weight of battery-electric and fuel-cell vehicles and boost performance, even though the technology is years away from being ready for commercial use. The automaker is using airless tires—featuring individual motors in each wheel—on a vehicle for the first time with its hydrogen-powered concept car, Fine-Comfort Ride, unveiled at ...

Bloomberg China’s Didi Chuxing is in talks with Japanese taxi operator Daiichi Koutsu Sangyo Co. to provide ride-hailing services for Chinese tourists visiting Japan, according to a person familiar with the matter. The service is expected to launch this spring and will allow visitors from the mainland to use Didi’s app to summon and pay for Daiichi Koutsu’s taxis operating ...

Bloomberg The world’s hottest video game is set to be locked out of the biggest market. PlayerUnknown’s Battlegrounds—where competitors fight to be the last one alive—is too violent, according to an announcement posted by the China Audio-Video and Digital Publishing Association. The gladiator-like mentality of the computer game deviates from the values of socialism and is deemed harmful to young ...