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  Oslo / AFP Norway’s sovereign wealth fund, the world’s biggest, posted a positive return on Wednesday for the second quarter, despite market pressure from Britain’s decision to leave the EU. The fund registered a return of 1.3 percent, or 94 billion kroner, putting its value at 7.18 trillion kroner ($876 billion, 777 billion euros) at the end of the ...

  Bloomberg After spending billions of dollars constructing a world-class liquefied natural gas export project in Australia, Santos Ltd. has found itself short of gas. The country’s third-largest energy producer, which isn’t pumping enough of its own gas to feed its Gladstone LNG plant yet, is having to buy expensive local supplies to fill the gap. Meanwhile, prices for the ...

  Bloomberg Nickel’s rally is only just getting started, making the metal an attractive bet for investors, according to Jinchuan Group, China’s biggest producer of the refined metal. Tightening global supplies because of a mining clampdown in the Philippines and rising demand from the stainless steel industry in China will push prices higher even after they climbed 35 percent from ...

  Paris / Bloomberg India urged investors to capitalize on a trillion-dollar opportunity that will emerge over the next 15 years when power consumption is expected to quadruple. Investors should bring advanced technologies and “meticulous planning” to the electricity industry, Power Minister Piyush Goyal said on Wednesday at an India-Japan joint seminar on smart meters in New Delhi. The country ...

  Bloomberg China’s latest attempts at reforming the country’s extensive pipeline network are aimed at lowering prices for end users and boosting gas demand, analysts said Wednesday after the country released draft guidelines. The National Development and Reform Commission proposed setting gas transmission fees for companies rather than for individual pipelines, the country’s top economic planner said in the policy ...

  AFP Philippine food giant Universal Robina Corp said Wednesday it would buy Snack Brands Australia for US$460 million, the latest big deal in a global shopping spree by Filipino firms reflecting the nation’s economic rise. URC said it had sealed an agreement to buy the Australian company — maker of popular local brands including Kettles, Thins, CC’s and Cheezels ...

  ABU DHABI / WAM Abu Dhabi Ports and Abu Dhabi Ship Building (ADSB) on Tuesday signed a long term agreement for ship repair facility that will also have a floating dry dock at Zayed Port. The agreement was signed at Abu Dhabi Ports head office at Zayed Port by Captain Mohamed Juma Al Shamisi, Chief Executive Officer of Abu ...

  ABU DHABI / WAM Abu Dhabi Securities Exchange (ADX) succeeded in achieving a compliance rate of 97 percent regarding the disclosure of the second quarter financial statements of its listed public joint stock companies within the deadline of 45 days from the end of the financial period. 64 listed companies out of 66, local and foreign, disclosed their second ...

  DUBAI / WAM An Emirates Auction delegation has paid a visit to the Mohammed bin Rashid University of Medicine and Health Sciences (MBRU) in Dubai Healthcare City recently, in line with its interest in strengthening relations with government bodies and academic institutions. During the visit, the Emirates Auction discussed means of hosting activities and organising charity auctions

  Dubai / WAM Emirates will operate a special one-off A380 service to Amman on September 25, marking 30 years of commitment to Jordan. The airline’s flagship double-decker, with the ability to carry over 500 passengers at a time, will make history when it becomes the first-ever scheduled A380 service to Queen Alia International Airport, and it will also be ...