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ABU DHABI / WAM Masdar, Abu Dhabi’s renewable energy company, and the leading Indonesian power company PT Pembangkitan Jawa-Bali (PT PJB), signed a Memorandum of Understanding (MoU), to explore areas of collaboration on renewable energy projects in Indonesia. Experts from Masdar and PT PJB will work together to identify opportunities to meet Indonesia’s rapidly growing energy demand, together with its ...

SHARJAH / WAM Sharjah Islamic Bank (SIB), has posted a net profit of AED 272.9 million for the first half of 2017 compared to AED 257.0 million for the same period last year, with an increase of 6.2 per cent. Total assets reached AED 36.9 billion at the end of the 2nd quarter 2017 compared to AED 33.5 billion at ...

ABU DHABI / WAM Foreign investors’ purchases at Abu Dhabi Securities Exchange (ADX) amounted to AED2.114 billion in June 2017, accounting for 55.4% of total buy trades, with their sales staying at AED1.871 billion, comprising 49.1% of total sell trades, bringing to AED243 million the net foreign investments at ADX during the month. In the meantime, institutional investments for the ...

Abu Dhabi / Emirates Business An unprecedented number of opportunities for Minister-to-global business leader strategic dialogue, along with a record number of expert submissions on a wide range of industry challenges and trends, will see the world’s energy leaders converge on the UAE capital for the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2017, later this year. Held under ...

ABU DHABI / WAM The upcoming editions of the Unmanned Systems Exhibition and Conference (UMEX 2018) and the Simulation Exhibition and Conference (SimTEX 2018) witnessed strong international exhibitor demand from specialised defence and security companies. Set to run from February 25-27, 2018 at the Abu Dhabi National Exhibition Centre, the dual exhibition is co-organised by Abu Dhabi National Exhibitions Company ...

Dubai / Emirates Business With the UAE ranked among the world’s highest per capita spenders on beauty products and the region blossoming into one of the top beauty and personal care markets globally, it was no surprise that the focus of the beauty and wellness industry was firmly on the region at the recent Beautyworld Middle East 2017. According to ...

Bloomberg Norway is turning on the taps at Europe’s biggest offshore gas field at just the right time for Britain. Output from Troll will increase to a record this year after the government raised a production cap, and it could pump even more, according to Stavanger-based operator Statoil ASA. That should help exports from Norway, the UK’s biggest foreign supplier, ...

Bloomberg Oil markets shrugged off a spill that shut a pipeline crossing Texas, signaling no immediate shortage of space to haul crude from the region’s prolific Permian Basin to Houston-area refineries. The 1,200-barrel release on Magellan Midstream Partners LP’s 275,000 barrel-a-day Longhorn system near Austin started after a contractor struck the pipeline while doing maintenance, according to a company statement. ...

Bloomberg Bob Ravnaas raised a paddle in a Houston auction house to secure his first block of mineral rights 19 years ago, when oil prices were swooning below $20 a barrel. A generation later, that same West Texas oilfield is still spinning off royalties, part of a mineral-rights empire amassed by Ravnaas that stretches across 20 states and delivers millions ...

Bloomberg Add costlier debt and thinner profit margins to the list of woes for Canada’s oil patch. The Bank of Canada’s decision to increase its benchmark interest rate by a quarter point to 0.75 percent will raise borrowing costs for oil producers already grappling with prices stuck near $45 a barrel. The rate hike also sent the Canadian dollar to ...