News

Bloomberg Spotify Ltd. is tiptoeing into new businesses again. The No. 1 paid music streaming service has agreed to promote podcasts in its app and via ads on buses. In return, the hosts of “Reply All,” “Pod Save America” and “The Bill Simmons Podcast” agreed to talk up Spotify on social media and during their shows that cover topics ranging ...

Bloomberg Saudi Arabia is considering a flexible tax system for state-owned oil company Aramco that wo- uld increase royalty payments when crude prices rise, accor- ding to people familiar with the deliberations. Riyadh is mulling a proposal from Saudi Aramco to replace the current fixed royalty on revenues, the same people said, asking not to be named discussing government policies. ...

Bloomberg Oil traded near $50 a barrel in New York as efforts by Venezuela’s president to seize more power raised speculation the US could step up sanctions. Futures were little changed after surging 8.6 percent last week. The US is said to be considering increasing sanctions against Venezuela’s oil industry, the Wall Street Journal reported, citing people familiar with the ...

Bloomberg There’s a new model emerging for growth-starved utilities looking to profit from America’s solar and wind power boom. American Electric Power Co. is using it for a $4.5 billion deal that’ll land the US utility owner a massive wind farm in Oklahoma and a high-voltage transmission line to deliver the power. NextEra Energy Inc.’s Florida unit is using it ...

Bloomberg Three years into the biggest oil downturn in a generation, industry bosses see the recovery slipping further from view. It could easily take until the end of the decade for better times to return to an industry that’s already endured a longer slump than most people expected, according to Total SA Chief Executive Officer Patrick Pouyanne and Weatherford International ...

ABU DHABI / WAM The UAE stock markets started the first session of the week on a slight rise, with some traders offsetting their options in the build-up to the closure of July accounts. In Sunday’s trading, the banking and real estate sectors drove the market slightly high, with traders still waiting for leading property companies to reveal their H1 ...

ABU DHABI / WAM Developmental projects worth in excess of AED750 million have been endorsed for launch by the Abu Dhabi Executive Council. This came in a meeting of the Executive Council Executive Committee under the chairmanship of Jasim Mohamed Al Zaabi who affirmed the enterprises are aligned with the Abu Dhabi Plan objectives to ensure safe community, and a ...

DUBAI / WAM Vice President and Prime Minister of UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum met with His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday at the headquarters of the Abu Dhabi National Oil Company (ADNOC). Their ...

MANAMA / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has confirmed that the four countries boycotting the State of Qatar take the country’s people into consideration before taking any step towards resolving the Qatari crisis. Sheikh Abdullah made the remarks during a joint press conference held in Manama with the foreign ...

Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council has instructed to start the preparations for the ‘Dubai Investment Forum’ and its main topics within the framework of the ‘Dubai Investment Week’ programme. The event aims to provide the investor community with a comprehensive view of the ...