News

  Reuters Iraq is willing to play an active role within OPEC to support oil prices but will not sacrifice its goal of expanding market share and will continue to ramp up output, its oil minister said. Jabar Ali al-Luaibi, on a visit to the southern oil city of Basra, renewed calls for local and international oil companies in Iraq ...

  Bloomberg The initial public offering of Saudi Arabian Oil Co. remains on track while the government considers how to meet all its objectives from the sale of a stake in the world’s biggest oil company, the kingdom’s Energy Minister said. Saudi Arabia hopes to list the company, also known as Saudi Aramco, in early 2018, Energy Minister Khalid Al-Falih ...

  Bloomberg India expects to woo 1 trillion rupees ($15 billion) of investment over five years to double mining output and cut mineral imports. The government’s goal is to fast-track exploration, including upfront payments for discovered deposits when the mines are auctioned, Mines Minister Piyush Goyal said in an interview. The administration will invite foreign companies to participate, he said, ...

  Bloomberg China Petroleum & Chemical Corp., the world’s biggest oil refiner, posted a 22 percent decline in profit for the first half of the year as oil’s collapse overpowered the boost from cheaper crude used to make fuels and chemicals. Net income dropped to 19.9 billion yuan ($3 billion), the Beijing-based company known as Sinopec said in a statement ...

  Bloomberg Signs of life returning to Asian trade have stirred up some optimism of a recovery, but a closer look at the data coming out of the region indicates the malaise is far from over. While export figures from Malaysia and Thailand showed surprising strength in June, trade continues to contract across most of Asia in the face of ...

  Bloomberg There are at least three good reasons why China is likely to succeed in starting the world’s biggest carbon-trading market when its efforts to limit pollution kick in next year. The government wants to put a cost on emissions of toxic smog to control pollution in industrial cities, starting with Beijing. The market may trade as much as ...

DUBAI / EMIRATES BUSINESS Ducab, the UAE-based leading manufacturer of high-quality cables and cabling products, hosted its 2nd annual Professional Training Program where Emirati university students received on the job training at the company’s facilities. The summer training initiative is the outcome of the company’s commitment to Emiratisation and local talent development in the country. Ducab hosted over 40 male ...

DUBAI / EMIRATES BUSINESS du announced the launch of its latest prepaid campaign for existing large enterprise and government customers. Data + Minutes is a limited offer that provides existing prepaid customers with special offers on data and minutes tailored to their needs. This deal will run until end of September. Eligible customers may dial *055# to see and opt-in ...

  DUBAI / Emirates Business Dubai Properties (DP), a leading Dubai-based real estate master developer and asset manager announced townhouses in the Portuguese-inspired community, Casa Dora at Serena in Dubailand will be released soon for sale at the DP sales and customer services centre in Ras Al Khor. Following the success of the first release of townhouses in the Bella ...

  Bloomberg German Deputy Foreign Minister Michael Roth warned that the U.K.’s negotiations to leave the European Union “will be very difficult” and that Britain won’t be allowed to “cherry pick” the best that the bloc has to offer. “If the British want full market access but want to limit the access of workers from Germany, France or Poland, they ...