Bloomberg Saudi Arabian Oil Co is taking a nearly 20 percent stake in South Korean oil refiner Hyundai Oilbank Co for $1.6 billion (AED5.87 billion), tightening the grip of the world’s top crude exporter on the biggest oil consuming region. The Saudi state-owned giant, known as Aramco, is seeking to firm up its customer base and market share in Asia …

Abu Dhabi / WAM Emirates Global Alumin-ium (EGA) announced that commissioning of its new Al Taweelah alumina refinery has entered its final stages. Commissioning is the detailed process of testing equipment and systems in a new plant before start-up. First production from Al Taweelah alumina refinery is expected during the first half of this year. EGA has begun hot water …

Bloomberg Crude tumbled below $52 a barrel as disappointing corporate earnings forecasts in the US stoked concern about the global economy, weighing down a market already anxious about America’s oil boom. Futures in New York dropped as much as 3.5 percent, joining the slide in equities after chip-marker Nvidia Corp and heavy-equipment company Caterpillar Inc warned of slowing global growth. …