London / Reuters Oil prices extended gains on Tuesday after Saudi Arabia pledged to curb exports from next month and OPEC called on several members to boost compliance with output cuts to help to rein in oversupply and tackle flagging prices. Brent crude futures were up 49 cents at $49.09 a barrel by 0933 GMT. US West Texas Intermediate futures ...
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Bloomberg Oil’s bear market may finally be taking its toll on the shale boom. Hours after Halliburton Co. warned that explorers are “tapping the brakes†on drilling, Anadarko Petroleum Corp. said it’s trimming spending in the first earnings report this quarter from a major shale producer. That could make this week a turning point for the troubled global oil market ...
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ABU DHABI / WAM Surplus reserves at UAE banks and other financial institutions surged to AED42.8 billion by the end of June, a growth of 77.6 percent, or AED18.7 billion, from AED24.1 billion in the first month of the year 2017, according to UAE Central Bank statistics. The figures reflect the resilience of the UAE banks’ solvency position, not only ...
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ABU DHABI / WAM NPCC, a member company of SENAAT – Abu Dhabi, one of the UAE’s largest industrial investment holding companies, is ranked 5th in the annual list of Top 30 Engineering, Procurement and Construction (EPC), Companies in the Energy sector in the Middle East and North Africa region, as compiled by Oil & Gas Middle East magazine. The ...
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DUBAI / Reuters State-owned energy giant Abu Dhabi National Oil Co (ADNOC) is in talks with regional and international banks to obtain a syndicated loan worth several billion US dollars, banking sources familiar with the discussions said on Monday. The loan will be ‘huge’, two bankers said; a third said it was expected to be in a range of $4 ...
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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, has received a delegation from the UAE Space Agency, which was accompanied by representatives of the space sector in the UAE. The delegation presented a demonstration on the most important accomplishments in UAE space ...
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Dubai / Emirates Business Statistics announced by Smart Dubai revealed that its DubaiPay portal for payment online and via smartphones registered a 15 percent increase in the amounts collected between June 1, 2016 and June 1, 2017, and a surge of 13 percent in number of transactions carried out over the same period. On the other hand, the number of ...
Read More »DUBAI / WAM Dubai-based airline flydubai, on Monday, announced the addition of three destinations to its Russian network, bringing its presence in the country to ten points. This autumn, the airline will launch flights to Makhachkala and Voronezh, and resume services to Ufa. Flights from Dubai to Makhachkala and Voronezh will operate twice a week, from October 31 and October ...
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DUBAI / Emirates Business Amlak Finance PJSC, a leading specialized real estate financier in the Middle East, has announced the completion of the first phase of its new residential development project in Mirdiff. This marks the first time which Amlak has developed a fully-owned property. The project consists of 54 villas and is scheduled for completion by Q4 of this ...
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Dubai / Emirates Business The Dubai Chamber of Commerce and Industry (DCCI) has announced that it will be actively participating in the 10th World Chambers Congress which is being organised and hosted by the International Chamber of the Commerce’s World Chambers Federation (WCF). The Congress will take place on September 19-21 in Sydney, Australia, with around 12,000 chambers of commerce from ...
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