Bloomberg Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market, and OPEC will decide next month whether to extend its cuts in output beyond June, the group’s Secretary-General Mohammad Barkindo said. The Organization of Petroleum Exporting Countries and other major producers are committed to reducing oil stockpiles, and all countries participating in a …

  ABU DHABI / WAM The National Bank of Abu Dhabi and First Gulf Bank reported AED2.93 billion in net profits for the 1st quarter of 2017, a 12.4 percent growth from AED 2.60 billion over the same period last year. The positive results are attributed to a robust operational performance and increasing investments yields in addition to a successful …

  ABU DHABI / WAM Etihad Airways Engineering signed an agreement with Diehl Aerosystems to jointly design, manufacture and install the first serial produced 3D-printed cabin plastic part on an aircraft for one of its customers. Additive manufacturing, commonly referred to as 3D-printing, reduces lead time in design, decreases production costs and enables speedier manufacturing. Etihad Airways Engineering and Diehl …