News

  BLOOMBERG The ruble extended last week’s rally as exporters bought the currency to pay local dividends and taxes, while some traders speculated that the coup attempt in Turkey will spur investors to seek alternatives in the Russian market. The currency increased 0.7 percent to 63.10 by 12:03 p.m. in Moscow, taking its gain this year to 17 percent, the ...

  Bloomberg The Swiss may have a trick up their sleeves for smoothing relations with their neighbours that the British don’t. The country of 8 million at the heart of Europe will get the chance to hold a second plebiscite on EU immigration, after a 2014 vote that jeopardizes its current arrangement with the bloc. That’s what some in the ...

  Bloomberg Exxon Mobil Corp. is doubling down on Papua New Guinea, topping a rival offer for InterOil Corp., a gas explorer focused on the Southeast Asian nation. The energy giant’s offer values InterOil at $2.5 billion, including debt, beating an earlier bid from Oil Search Ltd. and Total SA. Exxon already runs Papua New Guinea’s only liquefied natural gas ...

  Bloomberg Gold is in a major bull market and may surge to more than $1,500 an ounce as low interest rates buoy demand and the U.S. presidential election looms, according to DBS Group Holdings Ltd., which foresaw this year’s rally and is now advising investors to buy any declines. “Gold has seen four major bull markets since 1970: this ...

  San Antonio del Táchira / AFP Tens of thousands of Venezuelans again streamed into the Colombian city of Cucuta, taking advantage of the temporary reopening of a long-closed border to buy food and medicine due to shortages at home. Border crossings over two international bridges were opened in the early morning hours without restrictions, although identity cards were checked. ...

  Bloomberg Brent crude held below the highs reached following a failed coup in Turkey last week as shipments continued through the vital conduit for oil from Russia and Iraq to the Mediterranean Sea. Futures were little change in London, below levels touched on Friday as the coup raised concern about potential disruptions. Oil tankers are loading and unloading cargoes ...

  Cairo / WAM The United Arab Emirates is participating in the 40th meeting of the Permanent Arab Committee for Human Rights, which began on Sunday at the headquarters of the General Secretariat of the Arab League in Cairo, Egypt. Mohamed Al Rashidi, Legal Advisor to Oman’s Minister of Justice is heading the five-day meeting with the participation of representatives ...

  DUBAI / WAM The Dubai South awarded contracts worth AED 1 billion for a number of project developments, most notably in the city’s Residential District, adjoining the Expo 2020 Dubai site. The infrastructure and design contracts have been awarded to noted industry leaders, including Parsons Corporation, Atkins Global, Studio International Architects, Al Nasr, Tristar Engineering and Construction and the ...

  Abu Dhabi / Emirates Business The Industrial Coordination Council recently held its first meeting at the Ministry of Economy’s headquarters in Dubai headed by HE Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Board. Also in attendance were Council members representing the Ministry of Climate Change and Environment; the Industry Development Office in Abu Dhabi; ...

  Dubai / WAM The Emirates Central Cooling Systems Corporation, Empower, announced the saving of 8 percent more energy compared to last year during the first month of its summer campaign, “Saving Starts at 24 C” which targets all of its customers and aims to reduce electricity consumption, protect the environment and contribute to lowering CO2 emission. In line with the ...