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Dubai / WAM The Dubai Chamber members’ exports and re-exports surged to AED146.7 billion during 2017 H1, a growth of 6.1 percent from AED138.3 billion in the corresponding period last year, with the chamber’s total membership hitting 210,000 by the end of the same period, rendering it one of the world’s largest membership-based chambers of commerce. A total of 8897 ...

DUBAI / WAM The Senior Management of Dubai Electricity and Water Authority (DEWA) has got firsthand experience of the progress of work at the Research & Development (R&D) Centre, at the Mohammed bin Rashid Al Maktoum Solar Park, in Seih Al-Dahal, Dubai as part of a regular follow-up of DEWA’s essential projects. Saeed Mohammed Al Tayer, MD & CEO, DEWA, ...

DUBAI / WAM Driven by gains held by banking and investment sectors as well as some property companies, Dubai Financial Market (DFM) initiated week’s trades on an improvement note after experiencing a regular profit-booking spree on Thursday, closing 0.64% up at 3596 points, with Abu Dhabi Securities Exchange edging slightly down 0.39% to 4534 points amid overall stable trading conditions. ...

Bloomberg Donald Trump’s allies in the oil industry are warning the president that his bid to boost US steelmakers could backfire against their efforts to achieve his goal of “American energy dominance.” The intense lobbying effort comes as the Commerce Department faces a deadline to give the president a plan to require oil and gas pipelines use American-made steel, an ...

Bloomberg India approved the sale of a stake in state-run refiner Hindustan Petroleum Corp. to the country’s biggest oil and gas explorer, according to a person with knowledge of the decision. The move fulfills a plan, first outlined in February, to create an Indian oil giant through consolidation and mergers, forming a company comparable with international rivals that could weather ...

Bloomberg Almost two years after the biggest gas leak in US history sprung from a Sempra Energy natural gas storage field in Southern California, the state is ready for the complex to reopen. Sempra Energy’s Aliso Canyon field near Los Angeles is safe to operate at about 28 percent of capacity, with the ability to store as much as 23.6 ...

Bloomberg Total SA is in talks with Myanmar to supply the country’s most populous city, Yangon, with liquefied natural gas. The French energy giant may also build a power plant, according to Xavier Preel, general manager of Total E&P Myanmar. Total, which sold about 11 million tons of LNG last year, is seeking to expand its footprint in downstream activities ...

Bloomberg Malaysian Prime Minister Najib Razak raised the stakes in his efforts to secure the votes of palm oil farmers, announcing hundreds of millions of dollars in aid ahead of an election that could come within months. Farmers who come under the auspices of the Federal Land Development Authority, or Felda, will get cash handouts from the end of August, ...

Bloomberg China’s diesel and gasoline exports surged in the first half of the year as a domestic supply glut and slowing demand growth prompted refiners to sell more fuel abroad. Diesel shipments jumped almost 21 percent in the first six months compared to the same period a year ago, averaging about 328,500 barrels a day, according to Bloomberg calculations based ...

Bloomberg China’s most popular savings products have become a battleground for the nation’s smaller banks, which are competing for funds in a market that’s drawing increasing scrutiny from national policy makers. Whatever the result, one of the main casualties is set to be the domestic bond market. The accounts known as wealth management products, offering lesser-regulated returns that beat the ...