Abu Dhabi / Emirates Business A delegation from Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid, participated in the official inauguration of two of its funded projects in the Albanian capital Tirana, worth AED240 million ($58.26 million). Adel Al Hosani, Director of the Operations Department at ADFD, led the delegation representing the Fund. The event ...

Bloomberg The big, rushed and opaque deal for an enigmatic Chinese energy company to buy into Russia’s state oil behemoth has disintegrated. CEFC China Energy Co.’s agreement last year to purchase a $9 billion stake in Rosneft PJSC came to end as the sellers decided not to proceed with the deal. Separately, meetings scheduled for investors holding 15.1 billion yuan ...

Bloomberg OPEC member Algeria is looking to boost spending outlined in its 2018 budget by 6 percent, capitalizing on high oil prices ahead of presidential elections next year. A proposed amendment to the 2018 budget law would raise spending to almost 9.13 trillion dinars ($79 billion). The additional funds would be directed to the investment budget, which will rise 12 ...