News

  Bloomberg Oil held near $45 a barrel as U.S. industry data showed a drop in crude stockpiles, paring a surplus in the world’s largest fuel consumer. Futures were little changed in New York after dropping 1.3 percent Tuesday to a two-month low. Inventories declined by 2.3 million barrels last week, the American Petroleum Institute was said to report. While ...

  Bloomberg Anglo American Plc, the second-best performer on the FTSE 100 Index this year, cut its annual target for copper output after heavy snow at operations in Chile. The shares slumped the most in more than three weeks. Production will be 570,000 to 600,000 metric tons this year, down from a forecast of as much as 630,000 tons, as ...

  Bloomberg Sempra Energy says it’s more interested in making money from energy projects in Latin America than buying back shares. The San Diego, California-based utility owner said it’s scaling back its target for buying shares by $500 million and will instead use the cash to help build a $2 billion natural gas pipeline in Mexico. In fact, its Mexican ...

  Bloomberg When Ilan Goldfajn presides over his first policy meeting as Brazil’s central bank chief, he’ll have a daunting task: reviving an economy mired in its worst recession in a more than a century while restoring the bank’s inflation-fighting bona fides. Traders and analysts — who expect the central bank to keep interest rates unchanged at a 10-year high ...

  Dubai / AFP The International Monetary Fund on Tuesday raised its 2016 growth forecast for the Middle East and North Africa after a rebound in oil prices, but maintained its cautious outlook for Saudi Arabia. The region, along with Afghanistan and Pakistan, is set to see economic growth of 3.4 percent this year, better than a previous projection of ...

  DUBAI / WAM MAF Global Securities on Tuesday listed a conventional bond valued at US$ 300 million on Nasdaq Dubai. It was the third conventional bond to be listed on the exchange by MAF Global Securities, part of the Majid Al Futtaim Holding group, following listings in July 2013 and May 2014 of 500 million US Dollars each. Hamed ...

  Abu Dhabi / WAM The Executive Committee at the Executive Council, headed by Saeed Eid Al Ghafli, Chairman of the Executive Office, approved during its meeting an array of development projects in collaboration with the private sector worth a total of AED 470 million, in addition to making a number of decisions and adopting vital projects in the Emirate. In ...

  Abu Dhabi / Emirates Business HE Sultan bin Saeed Al Mansouri, Minister of Economy, met with the Finnish Ambassador to the UAE, Rita Swan, at the Ministry’s headquarters in Dubai to discuss ways to strengthen bilateral relations at the economic and commercial levels. The two parties also supported the exchange of investments and more joint cooperation specifically in the ...

  Saudi Arabia / Emirates Business UAE-based DC Pro Engineering – a global leader in District Energy, Co-Generation, Tri-Generation and sustainability in Green Building MEP designs, has partnered with TAQNIA ENERGY(TE), a subsidiary of the Saudi Technology Development and Investment Company as part of its Saudi Arabia growth strategy; ‘Saudi 50’. The exclusive agreement between the two entities marks a ...

  Dubai / WAM Dubai Electricity and Water Authority, DEWA, won three Golden Globe Tigers Awards in Sustainability Leadership. The awards are for Best Renewable Resources – Energy, Best Renewable Resources – Green Building, and Best Renewable Resources – Sustainable Transport, for the Green Charger initiative. DEWA received the awards in a special ceremony in Malaysia. The awards underline DEWA’s intensive ...