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Abu Dhabi / WAM The annual meetings for the UAE government were held in Abu Dhabi on Tuesday, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The ...

Dubai / WAM Dubai retained its ranking as the fourth most popular travel destination in the world, according to the ninth annual Mastercard Global Destinations Cities Index. The emirate welcomed 14.87 million international overnight visitors in 2016, with an expected continued growth of 7.7 percent for 2017. Dubai continues to be the city with the highest international overnight visitor spend, ...

Dubai / Emirates Business Over 140 exhibiting brands from 27 countries arrived in Dubai to participate at Gulf Glass, the largest flat & container glass event in the region, which will run until September 27 at the Dubai World Trade Centre. With more than 10,000 construction projects currently active in the GCC, the demand for glass and glass related products ...

SINGAPORE / Reuters Oil prices may rise to $60 a barrel by the end of this year or by early 2018 as OPEC and non-OPEC producers are expected to extend supply cuts beyond March, while oil inventories continue to decline, a former Saudi energy ministry official said in Washington. “With the current arrangement and commitment of major producers, and their ...

Bloomberg US crude was back in a bull market on Tuesday as Turkey threatened to shut down Kurdish oil exports in response to the region’s independence vote, while Trafigura Group and Citigroup Inc. added to warnings of a looming supply squeeze. Turkey can “close the valves” on oil shipments from Kurdistan, Turkish President Recep Tayyip Erdogan said. Ankara opposes an ...

KUWAIT / Reuters Assets managed by Kuwait Investment Authority (KIA), one of the world’s biggest sovereign wealth funds, have grown more than 34 percent over the past five years, Finance Minister Anas al-Saleh said. Speaking at a Euromoney conference, Saleh described the state’s reserves and assets, managed by the KIA, as representing a “safety valve” for the economy during times ...

BEIJING / Reuters Russia beat Saudi Arabia to become China’s top crude oil supplier for a sixth month in August, as independent refiners ramped up purchases and as state-owned refiners bought seaborne shipments from the Russian Far East port of Kozmino. China’s crude oil imports from Russia in August were 4.426 million tonnes, or about 1.04 million barrels per day ...

Bloomberg Oman, the biggest Arab oil producer outside of OPEC, is turning up the heat in a regional battle for business from ships in need of fuel with a $600 million deal to build storage tanks at the port of Sohar. Sohar Port and Freezone signed a contract with Singapore-based trader Trescorp Alliance Pte to build an initial fuel-storage capacity ...

Bloomberg Baidu Inc.’s iQiyi is targeting a US initial public offering as soon as in 2018 that could value China’s most popular Netflix-style streaming video service at more than $8 billion, two people familiar with the matter say. The company controlled by search giant Baidu is about to kick off negotiations with banks and deal arrangers and is shooting for ...

Bloomberg India’s Prime Minister Narendra Modi unveiled a 163.2 billion-rupees ($2.5 billion) programme to ensure electricity for all households. The programme will help poor people get electricity connections at no cost, Modi said in a speech in New Delhi on Monday, adding that his government is making efforts to provide power to about 3,000 unelectrified villages. The nation will aim ...