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Bloomberg Iran shipped its first cargo of oil to Europe since international sanctions ended, signaling more supplies will add to the global glut of crude. The Suezmax vessel Distya Akula departed Iran’s loading terminal at Kharg Island in the Persian Gulf and was located Saturday in the Gulf of Oman off the east coast of the United Arab Emirates, according ...

Bloomberg BP Plc and state-owned Oman Oil Co. agreed to expand an exploration and production sharing agreement of the Khazzan natural gas field to include a second development phase, at an estimated cost of $16 billion for the entire project. Block 61 will add 1,000 square kilometers to the original 2,700 square kilometer area of development, BP said Sunday. The ...

Sharjah / Emirates Business Tilal Properties, the pioneering Sharjah-based real estate developer, on Sunday revealed that investors from more than 25 countries had so far purchased land plots at Tilal City, the first master-planned community in the emirate. According to the developer, investor’s interest has been driven by the attractive leasehold and freehold investment opportunities in a market traditionally dominated ...

Washington / Bloomberg Mark Zuckerberg won a chance in the legal battle over his backyard privacy to pry further into the past of the developer suing him to try to show that his adversary was engaged in a fraud. The Facebook Inc. co-founder is investigating developer Mircea Voskerician’s testimony that he once had a side business under a different name ...

Dubai / Emirates Business US-based real estate investment manager Amstar and Polish developer BBI Development SA, are undertaking with Savills the international launch of Zlota 44, one of Europe’s tallest and most luxurious residential towers, located on Ulica Zlota (Gold Street) in central Warsaw. Designed by world renowned architect Daniel Libeskind, the iconic 192 metre high 52 storey tower dominates ...

Madrid/ Bloomberg Via Outlets is buying a discount fashion mall on the Spanish island of Mallorca from Varde Partners LP for more than 100 million euros ($112 million), Varde said in an e-mailed statement. Varde acquired Festival Park in December 2011 and tenants including Nike, Calvin Klein and Lacoste helped draw more than four million visitors last year, the company ...

London / afp Londoners are getting desperate over rising rents, with residents and students taking to the streets and social media over the cramped conditions tenants are forced to accept. With house-building lagging well behind the population increase in western Europe’s biggest city, prices are soaring beyond anything affordable. “The situation is becoming untenable,” said retired teacher John Ford, 60, ...

LONDON / AFP Europe’s airline sector is on course for further consolidation, while the region offers “massive opportunities” for growth, according to Carolyn McCall, chief executive of British budget airline EasyJet. “I definitely think there will be consolidation in Europe,” McCall told AFP in a recent interview held in EasyJet’s headquarters at Luton airport, north of London. And she believes ...

Bloomberg Ikea avoided paying at least 1 billion euros ($1.1 billion) in taxes owed to nations in the European Union over the past six years, the EU’s Green party said as it sought a government investigation of findings in a report it commissioned. The Greens/EFA group in the European Parliament said the world’s biggest furniture retailer is using loopholes to ...

Bloomberg China’s retail sales over the Spring Festival holiday rose 11.2 percent from the same vacation period a year earlier, with cinemas posting sharp increases in box- office sales, the country’s Ministry of Commerce said in a statement Saturday. Retail sales and restaurant receipts in the world’s second- largest economy totaled about 754 billion yuan ($115 billion) in the week-long ...