News

ABU DHABI / Emirates Business The Dubai Maritime City Authority (DMCA) received high-level delegation from Land and Sea Ports Sector of General Directorate of Residency and Foreigners Affairs led by Brigadier Salah Ahmad Al-Qamzi, Assistant Director General of the Land & Sea Ports Sector, in its headquarters in Dubai. The meeting underscored the importance of an integrated government system to ...

ABU DHABI / WAM Etihad Aviation Group (EAG) is celebrating the third annual Emirati Women’s Day with a series of events to highlight this year’s theme, “Women are Partners in Giving”, in line with the UAE’s 2017 #Year of Giving initiative. Women comprise 36 percent of EAG’s nearly 26,000-strong workforce, many of whom are working alongside men in what are ...

Bloomberg UK companies are getting more worried about the economy and feeling less confident in spending money on hiring or investing, according to a new report. The Recruitment and Employment Confederation said an index of economic conditions has fallen to the lowest this year, with a greater proportion of respondents to its survey saying things are getting worse. Employers are ...

Bloomberg Vanguard Group and T. Rowe Price Group Inc. marked down the value of their shares of Uber Technologies Inc. by as much as 15 percent following a drumbeat of bad news, lawsuits and boardroom battles at the ride-hailing company. Vanguard cut the worth of the shares by 15 percent to $41.46 as of June 30 from the prior quarter, ...

Bloomberg WPP Plc shares had their biggest drop in 17 years after the world’s largest advertising company cut its full-year revenue forecast amid lower spending by customers, in particular consumer-goods manufacturers. The stock fell as much as 13 percent after WPP said like-for-like revenue growth is expected to be between zero and 1 percent in 2017. That’s down from an ...

Bloomberg Surging demand for ‘Made in the Euro Area’ goods is feeding an economy that is creating jobs and finally also seeing price growth accelerate. A Purchasing Managers’ Index for manufacturing rose to 57.4 in August from 56.6 in July, according to IHS Markit. That’s the highest reading in two months and compares with a median estimate for a slowdown ...

Bloomberg Oil pared gains after the American Petroleum Institute unexpectedly reported higher inventories of US gasoline and diesel last week, even as crude supplies declined. The API estimated that stockpiles of gasoline rose 1.4 million barrels last week and diesel expanded 2.05 million, according to people familiar with the data, which is only disclosed to members. That would be a ...

KHOBAR / Reuters Saudi Aramco has received bids from international engineering companies to build gas booster compressor stations at Haradh and Hawiyah, industry sources said, as the country plans to diversify its energy mix. The contracts are part of a $4 billion scheme to increase gas production in the country for domestic consumption. Saudi Arabia’s domestic gas demand has been ...

BEIJING / Reuters Russia held its spot as China’s top crude oil supplier for a fifth month in a row in July, with shipments up 54 percent over a year earlier, data showed on Wednesday. Russian shipments last month came in at 4.97 million tonnes, or about 1.17 million barrels per day (bpd), the General Administration of Customs said in ...

KHOBAR / Reuters State-run Bahrain Petroleum Co (Bapco) will meet a consortium led by France’s Technip for further talks over the planned expansion of Bahrain’s only oil refinery, sources close to the matter told Reuters. Bahrain has long been planning to expand the Sitra refinery and industry sources told Reuters in April that all bidders for the work had been ...