News

  Bloomberg PetroChina Co., the country’s biggest listed oil and gas producer, said full-year net income in 2016 fell by as much as 80 percent, putting it on pace to report a record-low profit. The slump is due to lower international oil prices and domestic natural gas prices dropping “drastically” compared with the previous year, it said in a filing ...

  DALLAS / AP TransCanada has quickly filed a new application to build Keystone XL, one of two big oil pipelines being given a second chance by President Donald Trump. Former President Barack Obama rejected the Keystone XL in 2015. The Army halted construction of the Dakota Access pipeline last month. The move by Trump fulfills a campaign promise to ...

  Bloomberg Three months into a cash ban that has sucked out momentum from one of the world’s fastest-growing economies, Prime Minister Narendra Modi has little room to boost spending. While economists urge more investment in roads, ports and railways when the government presents its budget February 1, and maybe even direct cash transfers to boost consumption, a splurge carries ...

  Bloomberg North Korea’s 5 megawatt nuclear reactor at Yongbyon is showing a water plume, indicating that the plant is probably operating at the facility, a US research institute said. The facility, which had suspended operations in late 2015, is capable of producing enough plutonium to assemble one atomic bomb every year. Satellite pictures taken Jan. 22 show emissions from ...

  Bloomberg Consumers across the globe donning gloves to do the dishes may soon feel the heat from rubber being burned on China’s roads. Surging car sales in China in the last few months have more than doubled the price of a little-known chemical called butadiene. The colorless gas, used for making synthetic rubber, has soared in tandem with rising ...

  Bloomberg China home prices increased last month in the fewest cities since January last year, signaling property curbs to deflate a potential housing bubble are taking effect. New-home prices, excluding government-subsidized housing, gained last month in 46 of the 70 cities tracked by the government, compared with 55 in November, the National Bureau of Statistics said. Prices dropped in ...

  Bloomberg Alphabet Inc.’s Google delivered a sharp message to staff travelling overseas who may be impacted by a new executive order on immigration from President Donald Trump: Get back to the US now. Google Chief Executive Officer Sundar Pichai slammed Trump’s move in a note to employees, telling them that over 100 company staff are affected by the order. ...

  LONDON / WAM The UAE has been chosen to host the Leading Seven Countries of the World for the Digital Transformation of Education Initiative this year, reinforcing its position as a world leader in technology in the field of education. The country has made great advancements in developing SMART learning programmes in a very short period. This has led ...

  Dubai / Emirates Business Hatta witnessed a 17.2% increase in the number of businesses during the 2012-2016 period and by the end of 2016 a total of 944 businesses were operating in the city, according to a report compiled by the Department of Economic Development (DED) in Dubai. Trading companies accounted for 76.8% – or 725 – of the ...

  Dubai / Emirates Business As part of its commitment to support innovation within government financial work, the Ministry of Finance (MoF) will organise, in cooperation with the International Monetary Fund (IMF), a seminar on finance technology services (FinTech). This seminar will coincide with the second day of the 5th World Government Summit 2017 held from 12-14 February 2017 in ...