News

Abu Dhabi / Emirates Business The three-day biennial Seatrade Offshore Marine & Workboats Middle East conference and exhibition (SOMWME) was inaugurated on Monday by His Highness Sheikh Dhiyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Transport Authority and member of the Executive Council, under the patronage of HH Sheikh Hazza bin Zayed Al Nahyan Vice Chairman of the ...

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, on Monday met the Egyptian President Abdel Fattah el-Sisi, and discussed ways to promote fraternal relations and a number of regional and international issues of mutual interest. During the meeting, His Highness Sheikh Mohamed ...

Dubai / WAM Dubai Multi Commodities Centre (DMCC), the world’s leading free zone for trade and enterprise and master developer of the Jumeirah Lakes Towers in Dubai, on Monday announced that construction has commenced at its new premium district, ‘Uptown Dubai,’ and that Phase 1 with more than two million square feet of LEED Gold-certified development will be underway by ...

Abu Dhabi / WAM ADNOC Distribution has announced that it received a ‘UAE Superbrand’ award for 2017, for the fourth consecutive year. Mohammed Al Zaabi, Acting Senior Vice President of Retail Sales Group at ADNOC Distribution, received the award at a ceremony hosted by the Superbrands Council. Superbrands is the largest independent global body evaluating and recognising corporate branding and ...

Abu Dhabi / WAM Abu Dhabi’s Department of Culture and Tourism (TCA Abu Dhabi) is to host a lecture as part of Al Ain National Museum’s Coffee Morning series in Al Ain Municipality Theater on September 27, led by Dr. Mark Beech, Head of the Department of Coastal Heritage and Palaeontology at Al Ain National Museum. Titled ‘Why Studying the ...

Bloomberg / Reuters Saudi Arabia will hold calls with fixed-income investors starting Monday as the world’s biggest oil exporter seeks to sell dollar bonds for the second time this year. The kingdom mandated Goldman Sachs Group Inc., GIB Capital, HSBC Holdings Plc, JPMorgan Chase & Co. and Mitsubishi UFJ Financial Group Inc. as joint lead managers and bookrunners to organize ...

Bloomberg Statoil ASA is among producers involved in discussions with the Abu Dhabi National Oil Co. about joining offshore production in the emirate, according to a Norwegian diplomatic dispatch. “All the major oil companies, including Statoil, are positioning themselves for a cooperation with ADNOC in the offshore segment,” Norway’s embassy in Abu Dhabi wrote in a message to the Foreign ...

SINGAPORE / Reuters Oil pricing agency Argus Media said on Monday it is seeking market feedback to publish prices for Iraq’s Basra Light and Basra Heavy crude oil grades for cargoes that do not have restrictions on the destinations to which they can be sold. Argus currently publishes prices for Basra Light and Heavy for cargoes that are restriction to ...

DUBAI / Reuters The Saudi stock index may rise as crude oil prices held near a six-month high, while other Gulf markets more susceptible to foreign flows may follow the downtrend in Asian shares. Brent was trading at $56.80 a barrel in Asia, staying near a March high struck on Friday. Petrochemical makers, that account for roughly one-quarter of Saudi ...

Bloomberg When the who’s who of the oil trading industry gathered in Singapore last year for the annual Asia Pacific Petroleum Conference (APPEC), the talk was about a painful year ahead. Of the dozen or so senior oil traders canvassed, all but one expected prices to be capped at about $50 a barrel. A year later, the sentiment has turned ...