News

  Dubai / WAM Dubai Government’s Department of Finance (DOF) has officially launched the Government Service Prices Portal. Through this launch, the DOF has introduced the public, government entities and private sector companies, to the tariffs and fines approved by the Dubai government. The portal lists 7,962 price lines accredited by 23 government entities in Dubai distributed into six sectors, in ...

  Abu Dhabi /Emirates Business Saudi Arabian Oil Company (Saudi Aramco) on Sunday signed two separate Memorandums of Understanding (MoUs) with Abu Dhabi National Oil Company (ADNOC) and with Masdar, Abu Dhabi’s renewable energy Company, covering energy and technology collaboration, renewables, and carbon management. Under the terms of the MoU between ADNOC and Saudi Aramco, the two companies will collaborate ...

  Sharjah / Emirates Business One of the well-established names in the local jewellery industry, Salem Al Shueibi Jewellery, secured the coveted Platinum Sponsorship of the region’s most awaited spring edition of the biannual MidEast Watch & Jewellery Show. Billed as the largest and most exclusive showcase of gold and diamond jewellery in the region, the 42nd MidEast Watch & ...

  Abu Dhabi / Emirates Business Peter Baumgartner, Chief Executive Officer of Etihad Airways, and Mohammad Al Bulooki, Executive Vice President Commercial, joined Scott Fancher, Boeing Senior Vice President, at the integrated seawater and agriculture system facility within Masdar City to check on the project’s progress this week. The facility is a world first, demonstrating the use of seawater and ...

  Bloomberg Banks are marketing what could be one of Canada’s first nonprime residential mortgage-backed securities deals since the global financial crisis. National Bank of Canada has held discussions with investors about a bond backed by a pool of residential mortgages just below prime-credit quality, Derek Norton, MCAP Corp.’s chief executive officer, said. The so-called alt-A mortgages are originated by ...

  Reuters As Southern Co. opens a review of its troubled nuclear reactors following a bankruptcy filing by contractor Westinghouse Electric Co., the Trump administration has 8.3 billion reasons to be worried. Southern is financing the reactors with $8.3 billion in federal loan guarantees approved under President Barack Obama’s initiative to build the first new nuclear plants in the US ...

  Bloomberg When it comes to petroleum, the US is the land of plenty. The year 2017 started off with a bang for American oil companies as total crude and petroleum products exports rose to a record 5.69 million barrels a day in January, government data show. A surplus of fuels means exports are available all the way down the ...

  Bloomberg Principal Financial Group Inc. accused the managers of Liongate Capital Management LLP of hiding investments with Bernie Madoff while negotiating to sell half of their London hedge fund to Principal. Founders Randall Dillard and Jeff Holland, and Head of Research Benjamin Funk sold the stake in March 2013 without disclosing secret investments in the largest of several Madoff ...

  Bloomberg This hardscrabble Wyoming city of about 30,000 people proclaims itself the “Energy Capital of the Nation” on the mayor’s blue blazer and even the parking ticket payment boxes. Nearby are some of the world’s largest open-pit mines, where dump trucks the size of houses haul out more than 40 percent of the coal produced in the US. The ...

  Bloomberg The pound headed for its first quarterly gain versus the dollar since mid-2015 as data showed the currency’s Brexit decline delivered a double boost for the UK economy. A bumper contribution from trade saw the nation’s gross domestic product grow an unrevised 0.7 percent in the fourth quarter, its fastest pace in a year, data showed. In the ...