News

Bloomberg Venezuela, owner of the world’s largest crude oil reserves, suddenly has a deep thirst for American oil. Petroleos de Venezuela SA, the state-owned oil company, has ordered millions of barrels of crude from the U.S. this year, according to published reports and data provided to Bloomberg, in a sign of how the lifting of the ban on U.S. oil ...

Bloomberg Coffee, which entered a bull market last week, may climb further this year amid increasing concern that global supply will continue to shrink because of El Nino-induced crop losses in South America and Southeast Asia, according to traders at an industry gathering. Worldwide demand may exceed output by as many as 4 million bags in the season that will ...

Bloomberg Chile, widely viewed as a model of stability and democracy in a region plagued by impropriety and upheaval, is facing a campaign funding scandal that has cast a shadow over politicians of all major parties. More than a year of revelations has helped drive to record lows the approval ratings of the government, President Michelle Bachelet, the Chamber of ...

ABU DHABI / WAM Aabar Investments PJS , an Abu Dhabi-based diversified investment company, agreed and signed a loan facility worth 3.6 billion euros with a lead syndicate of global banks. The five-year senior unsecured, non-guaranteed facility serves to refinance several of Aabar’s pre-existing facilities, and was arranged on tighter terms compared to previous facilities reflecting the company’s improved credit ...

ABU DHABI / WAM HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, attended the signing of an agreement between the Follow-Up Committee of the Initiatives of the UAE President and Arabtec Holding to build 1,100 housing units for Emiratis in Fujairah’s Mohamed bin Zayed City(MBZ) at a total cost of AED1.712 billion. The ...

ABU DHABI / WAM HH Sheikh Hamed bin Zayed Al Nahyan, Managing Director of ADIA, issued an open letter on the occasion of the Abu Dhabi Investment Authority(ADIA) celebrating its 40th anniversary: Over the course of the past four decades, ADIA has evolved from a small operation using shared office space to become one of the world’s largest and most ...

ABU DHABI / WAM Abu Dhabi Commercial Bank (ADCB) and Emirates Foundation, the UAE national foundation established to facilitate public-private partnerships for empowering youth, announced on Monday a ground-breaking collaboration aimed at increasing levels of financial literacy in the UAE. The ADCB/EF Financial Literacy partnership is the first-of-its-kind in the region, and is set to offer branch-based financial literacy and ...

DUBAI / WAM Dubai Electricity and Water Authority(DEWA) organised the DEWA Robotics Competition Ceremony, to honour the winners and participants of the DEWA Robotics Competition, which was held during Innovation Week 2015, at DEWA’s head office. The move supports the National Innovation Strategy, launched by Vice President and Prime Minister and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al ...

ABU DHABI / WAM The Central Bank announced that the Money Supply aggregate M1 increased by 0.2%, from AED 473.5 billion at the end of January 2016 to AED 474.4 billion at the end of February 2016. Money Supply aggregate M2 remained constant at AED 1,212.5 billion at the end of February 2016. Money Supply aggregate M3 increased by 0.02%, ...

RITIKA SHARMA / EMIRATES BUSINESS Energy efficiency can translate into economic advantage. And Etihad ESCO, a leading energy retrofit entity, is showing the way by providing dependable solutions to reduce power usage across a spectrum of industries. In one of its latest initiative, Etihad ESCO executed the lighting retrofit project at the Dubai Electricity and Water Authority (DEWA) power stations ...